Want a quick and easy way of assessing just how much of a net loss Obama 1.0 has been for working Americans? $50,521
And that’s just in terms of the national debt he added. We’re not counting the lost jobs, the higher prices, the economic devastation and the loss of savings due to inflation combined with low interest rates.
During Barack Obama’s first term as president of the United States, the debt of the federal government increased by $5.8 trillion, which exceeds the combined debt accumulated under all presidents from George Washington through Bill Clinton.
The new federal debt accumulated in Obama’s first term equaled approximately $50,521 for each of household in the country.
On Jan. 20, 2009, when Obama was first inaugurated, the total debt of the federal government was $10,626,877,048,913.08, according to the U.S. Treasury. As of the close of business on Jan. 17, the last day reported by the Treasury before Obama’s second inauguration, the total debt of the federal government was $16,432,631,489,854.70.
Thus, from Obama’s first inauguration to his second, the federal government’s debt grew by $5,805,754,440,941.62.
But I’m sure we’ll be paying that off any day. As soon as our economy begins growing as fast as China’s.
You know, it's strange, but Obama is starting to sound like a father that doesn't pay his child support. Same excuses.
His off shore, and overseas bank accounts have to be bulging!
What else can one expect when a POTUS is bent on destroying the economy, all in order to deconstruct it? Leading it off the fiscal cliff is a natural fit for said plans – http://adinakutnicki.com/2012/08/07/barack-hussei…
What better way to ensure that America never stands out as a super/hyper power again, other than to bankrupt it? Indeed.
Adina kutnicki, Israel – http://adinakutnicki.com/about/
And the rotten SOB says he wants to finish what he started. My complaint is, where are our elected representation, that are suppose be the checks and balances to white house corruption?
WHERE ARE THEY???
Sorry Daniel , but that's just plain BALONEY . We got a 16 trillion dollar debt, 10 of which was generated by two Bush Admins .and aboiut 1 trillion spent cleaning up Bush' mess . Unless you'd like to refute the FACT that we were 10 trillion in the hole when Obama took office . You may as well put Alfred E.Newman over Bush' face on your little poster .
Increasing the hole by 40 percent is not exactly a recommendation.
You're right , but that means if every American owes $50k , Bush is responsible for 60% of that . So it would be correct to say that Obama cost every American $ 20k … not $50.5 k ….right ?
No, you're the BALONEY artist here, and will easily put Alfred E. Newman over your face.
By your own words and comparison, Barack Hussein Obama II have driven up the U.S. debt, more than ALL U.S. presidents combined. Here: http://www.usdebtclock.org/
Facts aren't your best friend….
Nor do they know you either . Look it up on google , and you'll see what each Pres. has spent on their watch . And that " all US presidents combined " biyt , is nothing more than a play on words , because lookling back from each Admin .going back to Eisenhower , the same could be said . There'
s probably a word for your type of word play , but I won't bother to look it up . In simple terms it's just BALONEY /.
So, you're saying that we had no federal debt until Bush 1 and Bush 2 were in office. Get real. Yeah, we were 10 trillion in the hole when BHO took office, but the two Bushes did not cause all of that and BHO has added 60 percent more to what was there. He did in four years what neither Bush did in eight.
Better check your figures , it's in the public domain . BTW , I did not say we had no debt , Bush increased it twofold from when he took office , and that's just Bush jr's two terms . Look it up .
You are aware that bush is no longer in office aren't you? Obama was gonna clean up after bush and cut the deficit in half. But I have a feeling that after 4 more years of economic lunacy, you will still be standing there yelling that "it's all Bush's fault". But you may be standing in a bread
line yelling it.
News flash genius: Obama can make the economy worse, he's really good at that, but he has no clue how to fix it, and that won't change until he is gone. All his school records are guarded by platoons of lawyers, but I'd be willing to bet Barry has never taken an economics class in his life. And it shows.
So tell us, Obama fan, how is your hero going to revive the economy. You haven't a clue either.
You ARE aware that when he left office we were 10 TRILLION in the hole , andf atleast some of the money the Obama Admin .spent was simply a continuation of Bush' stimulius package . You are aware of that right ?
It is like going on an expensive vacation with a credit card you cannot affor to pay. You don't see it until the bill comes in and then you're screwed. This is what is happening to the U.S. And it is the voters, their education or lack thereof and the total ignorance about economics. But what stands out most is the " I am entitled society" which is now the foundation of this country. Everyone is entitled to something, government hand-out, unemployment, healthcare, a job, a passing grade for failing since it's not fair for anyone to fail while other succeed. That is the problem. However, like every problem there will be consequences if not resolved. This is a country of over 300 million people and it will take some time, may be 10 years, but the pain will be here and it will be painful. But those of us who are preparing and careful will secure their children's future in this country or anywhere else for that matter.
For those too lazy to look it up :
Under Reagan and Bush: $3.4 Trillion increase in the debt.
• Under George W. Bush: $6.1 Trillion.[1]
•Total: $9.5 Trillion. (without counting interest)
Care to refute that Chris , pagegl , or Jackson Pearson ?