Deficits soar even with rosy assumptions in new Obama budget | McClatchy
Time for a little deficit math.The new administration budget said that the fiscal 2009 deficit would reach $1.84 trillion, or $89 billion more than forecast in February, while the 2010 figure now is estimated at $1.26 trillion, or $87 billion above the previous number. The fiscal 2008 deficit was $459 billion.
On the day President Bush took office, total public debt for the US was $5,727,776,738,304.64, and the US was headed into recession.
On the day Dear Leader took office, total public debt for the US was $10,625,053,544,309.79, and the US had already entered a recession.
The increase in total public debt during the Bush Administration was $4,897,276,806,005.15
In between, there were 2,922 days. On average, President Bush spent $1,676,001,644.77 per day the government did not have.
As of May 8, 2009, 107 days after Dear Leader took office, total public debt for the US is $11,258,693,795,457.10
The increase in total public debt during the first 107 days of Dear Leader's administration is $633,640,251,147.31
On average, Dear Leader spent $5,921,871,506.05 per day the government did not have.
These numbers are courtesy of The United States Treasury Bureau of the Public Debt
If the average holds, and Dear Leader serves a single term (1461 days), his contribution to the total public debt will be $8,651,854,270,338.51.
However, the average already is not holding. As the article referenced above shows, the deficit is growing, not shrinking, both in this current year and in next year, by $89 billion and $87 billion respectively. The $8.6 trillion Dear Leader will add to the total public debt in his term of office is, by all accounts, the best case scenario. Dear Leader's deficit spending for four years will be, by the most optimistic calculation, 177% of the of deficit spending for all eight years of the Bush Administration.
Some other fun facts about the total public debt:
- After the first 107 days of the Bush Administration, on May 8, 2001, total public debt had decreased by $79,895,704,884.55.
- The $633,640,251,147.31 of public debt added by Dear Leader's administration in 107 days took President Bush's administration 709 days to surpass, when the total public debt reached $6,405,707,456,847.53 on December 31, 2002.
- On January 21, 2005, after 1461 days of the Bush Administration, total public debt had increased by $1,886,691,622,346.66
Against all this debt, Dear Leader and his "experts" have combed the federal budget and discovered a whopping $17 billion in "savings" to carve out of the federal budget. That is roughly 3% of the increase in total public debt over his first 107 days in office.
Dear Leader has a strange idea of what constitutes making "hard choices".