CBS news article reports Obama now has topped Bush with pushing our debt.

[DucatiMonster696]

Fooled you ! It's really a CBS news article...hahahaaahaaa!

Anyways now we can put to rest the myth that Obama hasn't run up our debt levels beyond the level Bush raised it after 8 years. In just 3 years and and 2 months Obama has officially beat Bush's record which was set after 8 years of being in the White House.

National Debt has increased more under Obama than under Bush

Chart - Deficit 2012 (Credit: CBS)
(CBS News) The National Debt has now increased more during President Obama's three years and two months in office than it did during 8 years of the George W. Bush presidency.

The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.

The latest posting from the Bureau of Public Debt at the Treasury Department shows the National Debt now stands at $15.566 trillion. It was $10.626 trillion on President Bush's last day in office, which coincided with President Obama's first day.

The National Debt also now exceeds 100% of the nation's Gross Domestic Product, the total value of goods and services.

Mr. Obama has been quick to blame his predecessor for the soaring Debt, saying Mr. Bush paid for two wars and a Medicare prescription drug program with borrowed funds.

The federal budget sent to Congress last month by Mr. Obama, projects the National Debt will continue to rise as far as the eye can see. The budget shows the Debt hitting $16.3 trillion in 2012, $17.5 trillion in 2013 and $25.9 trillion in 2022.

Federal budget records show the National Debt once topped 121% of GDP at the end of World War II. The Debt that year, 1946, was, by today's standards, a mere $270 billion dollars.

Mr. Obama doesn't mention the National Debt much, though he does want to be seen trying to reduce the annual budget deficit, though it's topped a trillion dollars for four years now.

As part of his "Win the Future" program, Mr. Obama called for "taking responsibility for our deficits, by cutting wasteful, excessive spending wherever we find it."

His latest budget projects a $1.3 trillion deficit this year declining to $901 billion in 2012, and then annual deficits in the range of $500 billion to $700 billion in the 10 years to come.

If Mr. Obama wins re-election, and his budget projections prove accurate, the National Debt will top $20 trillion in 2016, the final year of his second term. That would mean the Debt increased by 87 percent, or $9.34 trillion, during his two terms.

http://www.cbsnews.com/8301-503544_...s-increased-more-under-obama-than-under-bush/

Sorry about the thread title edit (from Foxnews to CBS)- I know you were trying to be humorous, but the guidelines say not to post knowingly false information. Those who didn't read the thread and only see the thread title may have been mislead. No real harm, no foul, no warning, no infraction, nothing to see here, move along. -Admin DrPizza

 

[trenchfoot]

Bush pushed the debt levels to make the rich richer. Obama pushed the debt levels to undo the damage that Bush caused in the name of making the rich richer.

Comparing the two is false equivalency at its apex.

 

[DucatiMonster696]

Bush pushed the debt levels to make the rich richer. Obama pushed the debt levels to undo the damage that Bush caused in the name of making the rich richer.

Comparing the two is false equivalency at its apex.

Obama hasn't stop pushing the debt limit and as the article correctly points out its only going to go higher under his watch.

As for your second point it is hilarious! Why did Obama appoint so many ex-Goldman Sachs members on his economic advisory board? LOL

Keep drinking that kool-aid.

 

[soundforbjt]

Reagan tripled the debt during his terms.

 

[theeedude]

Bush tax cuts are still in effect contributing to the deficits.

 

[Capt Caveman]

Yawn

 

[pcgeek11]

Bush pushed the debt levels to make the rich richer. Obama pushed the debt levels to undo the damage that Bush caused in the name of making the rich richer.

Comparing the two is false equivalency at its apex.

Reagan tripled the debt during his terms.

Bush tax cuts are still in effect contributing to the deficits.

Excuses, excuses and more lame ass excuses.

Bull Shit. You guys would make excuses for Obama's shitty performance even if he screwed your mother.

Pathetic.

Three years ago, Obama said if the economy hadn't turned around by this time, his presidency would be "a one-term proposition."

I say it's time for him to go.

 

[trenchfoot]

Excuses, excuses and more lame ass excuses.

Bull Shit. You guys would make excuses for Obama's shitty performance even if he screwed your mother.

Pathetic.



I say it's time for him to go.

The economic recovery is under way and unemployment is going down under Obama's watch. I'd say it's you Repubs who are the ones making excuses. lol

 

[woodie1]

Fooled you ! It really a CBS news article...hahahaaahaaa!

Anyways now we can put to rest the myth that Obama hasn't run up our debt levels beyond the level Bush raised it after 8 years. In just 3 years and and 2 months Obama has officially beat Bush's record which was set after 8 years of being in the White House.




http://www.cbsnews.com/8301-503544_...s-increased-more-under-obama-than-under-bush/

Careful, some people can't take the truth no matter who the messenger is.

 

[DaveSimmons]

I blame both parties.

- Bush's two wars, unfunded tax cuts, medicare expansion (aka "socialism" if a democrat had done it) and his recession

- Republicans won't reduce the tax cuts
- Democrats won't cut entitlements

- Neither party will cut pork, including billions wasted on "war on terror" funding to middle-of-nowhere places that would never be a target
- Neither party will cut useless military funding like bases we don't need, especially overseas bases where money for supplies and leases go to other countries.
- Neither party will decriminalize and tax marijuana, reducing enforcement costs and crime while creating jobs and tax revenue.

And so on, but it's time for my nap

 

[sandorski]

..and why has this happened?

 

[Jaskalas]

..and why has this happened?

Cause Dems believe in a magic spending tree, the voters love them for it, and Republicans are too stupid to say no to that.

So now the two parties get to make a lot of noise on how terrible deficit spending is, all the while buying votes with it. It's hilarious to see what Dems thought of it in 2006, see my signature.

 

[sandorski]

Cause Dems believe in a magic spending tree, the voters love them for it, and Republicans are too stupid to say no to that.

So now the two parties get to make a lot of noise on how terrible deficit spending is, all the while buying votes with it. It's hilarious to see what Dems thought of it in 2006, see my signature.

Nope.

 

[santz]

it takes money to rebuild a house after its destroyed in a hurricane or earthquake, just as it takes money to rebuild the economy after it was destroyed by wars in bush era. Instead of talking trash about how much obama is spending, wouldn't it be more prudent to find mistakes about where the money is being sent.

Oh yeah, dont talk about the war expenditure as that was started by bush, I know obama promised to get us out of the war, but its not something you can do overnight, there are global economies and consequences to think about, and as such takes time.

There are more and more people who are angry with obama as they are unemployed or facing financial difficulties, but this is all after effects of the bush presidency, as it takes time to feel the after effects. Once good or bad policies are set, it takes time for the policies to work and involve peoples lives.

what do you think?

 

[Ausm]

Yawn

I concur!

 

[Anarchist420]

The fact that Obama outspent Bush doesn't excuse Bush's excessive spending. National Debt is never acceptable. Also, the dollar is worth less than it was Bush was President, so Obama hasn't spent quite as much as Bush did yet.

Finally, it's not like McCain would've spent any less. In fact, he would've spent more.

 

[boomerang]

Bush debt bad.
Obama debt good.

It can't get much simpler than that. Well, maybe it could. A second try.

Republican debt bad.
Democrat debt good.

It's important to remember that Obama debt is planned debt. The question is, planned for what outcome?

 

[sandorski]

Bush debt bad.
Obama debt good.

It can't get much simpler than that. Well, maybe it could. A second try.

Republican debt bad.
Democrat debt good.

It's important to remember that Obama debt is planned debt. The question is, planned for what outcome?

Nope.

 

[Doppel]

I still wonder when his fan base will start holding him responsible. This is a ball set in motion before his watch but at some point he owns this.

 

[Pens1566]

I think those #s for Bush don't include the wars in Iraq and Afghanistan.

 

[PokerGuy]

I knew it wouldn't take long for the apologist kool-aid drinkers to arrive to blame GWB who hasn't been in office for years.

Next, we'll see the dear leader fans come in and explain with charts and graphs how it's all the evil GOP's fault, and that if only we would waste more money we could borrow and spend ourselves into prosperity.

The facts speak for themselves, and no amount of spin and finger pointing can fix the facts. Real leadership would be to fix the problem, not waste time blaming your predecessors.

 

[PokerGuy]

I think those #s for Bush don't include the wars in Iraq and Afghanistan.

Wrong, war spending is included in the deficit calculations.

 

[PokerGuy]

I still wonder when his fan base will start holding him responsible. This is a ball set in motion before his watch but at some point he owns this.

Nope. According to the kool-aid drinkers and media, he doesn't own anything, pointing the finger at prior administrations is good enough.

 

[Ausm]

Bush debt bad.
Obama debt good.

It can't get much simpler than that. Well, maybe it could. A second try.

Republican debt bad.
Democrat debt good.

It's important to remember that Obama debt is planned debt. The question is, planned for what outcome?

LOL must be some great bong water you are drinking.

 

[EagleKeeper]

Reagan tripled the debt during his terms.

The smaller the number to start; the easier it is to do a percentage increase.

Going from 1 to three is a triple, but a gain of 2

Going to 10 to 30 is a triple also but a gain of 20.

The gain of 20 hurts much more than the gain of 2; especially when compared to the GDP