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Thread: Obama Added More to National Debt in First 19 Months Than All Presidents....

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    Obama Added More to National Debt in First 19 Months Than All Presidents....

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    Obama Added More to National Debt in First 19 Months Than All Presidents from Washington Through Reagan Combined, Says Gov’t Data

    In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan.

    The U.S. Treasury Department divides the federal debt into two categories. One is “debt held by the public,” which includes U.S. government securities owned by individuals, corporations, state or local governments, foreign governments and other entities outside the federal government itself. The other is “intragovernmental” debt, which includes I.O.U.s the federal government gives to itself when, for example, the Treasury borrows money out of the Social Security “trust fund” to pay for expenses other than Social Security.


    So thats the hope and change we were looking for.

    To say this is embarrassing for the country is to redefine the word embarassment.

    CNSNews.com - Obama Added More to National Debt in First 19 Months Than All Presidents from Washington Through Reagan Combined, Says Gov
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    Re: Obama Added More to National Debt in First 19 Months Than All Presidents....

    So we picked a particular type of debt, failed to adjust for more than 200 years of inflation, and cut it off at Reagan to avoid that whole Iraq/Afghanistan war thing.

    Ok.

    edit: And I have suspicions about their use of "cumulative total," but I'll have to wait until later to crunch the numbers on that one.
    Last edited by Deuce; 09-09-10 at 12:07 PM.
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    Re: Obama Added More to National Debt in First 19 Months Than All Presidents....

    Quote Originally Posted by Deuce View Post
    So we picked a particular type of debt, failed to adjust for more than 200 years of inflation, and cut it off at Reagan to avoid that whole Iraq/Afghanistan war thing.

    Ok.

    edit: And I have suspicions about their use of "cumulative total," but I'll have to wait until later to crunch the numbers on that one.
    Spin it how you want.

    Obama is as financially responsible as Snooki or Paris Hilton.

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    Re: Obama Added More to National Debt in First 19 Months Than All Presidents....

    Quote Originally Posted by Erod View Post
    Spin it how you want.

    Obama is as financially responsible as Snooki or Paris Hilton.
    Deuce ignores the fact those numbers include... TWO world wars and the Cold War. Convenient no?
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Obama Added More to National Debt in First 19 Months Than All Presidents....

    The numbers ignore inflation, and never mind the damage to the economy that he was at least trying to offset.

    Convenient no?
    I'm already gearing up for Finger Vote 2014.

    Just for reference, means my post was a giant steaming pile of sarcasm.

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    Re: Obama Added More to National Debt in First 19 Months Than All Presidents....

    Quote Originally Posted by TacticalEvilDan View Post
    The numbers ignore inflation, and never mind the damage to the economy that he was at least trying to offset.

    Convenient no?
    Doesn't matter, even if you adjust for inflation, to be accurate one must also "adjust" for the inflation that Obama's debt will eventually spell out.. Shouldn't be to hard to average out the inflation rate, no?

    Any other arguments you might have that is apologetic for Obama's spending spree?

    Tim-
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    Re: Obama Added More to National Debt in First 19 Months Than All Presidents....

    Quote Originally Posted by TacticalEvilDan View Post
    The numbers ignore inflation, and never mind the damage to the economy that he was at least trying to offset.

    Convenient no?
    The problem is, he and those that support his actions believe the Gov't can fix the economy with massive spending and debt. It doesn't work like that, never has, never will.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Obama Added More to National Debt in First 19 Months Than All Presidents....

    Quote Originally Posted by MrVicchio View Post
    The problem is, he and those that support his actions believe the Gov't can fix the economy with massive spending and debt. It doesn't work like that, never has, never will.
    I thought government spending pushed output to pre-recession levels preventing a downward spiral of doom an despair.

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    Re: Obama Added More to National Debt in First 19 Months Than All Presidents....

    Quote Originally Posted by Hicup View Post
    Doesn't matter, even if you adjust for inflation, to be accurate one must also "adjust" for the inflation that Obama's debt will eventually spell out.. Shouldn't be to hard to average out the inflation rate, no?
    Of course you would, but that doesn't mean that inflation adjustment doesn't matter. You can't track anything pertaining to a fiat currency over time without factoring inflation, by its very nature it inflates (and occasionally deflates), especially when the backing of the dollar ended just over 40 years ago.

    Quote Originally Posted by Hicup View Post
    Any other arguments you might have that is apologetic for Obama's spending spree?
    The Federal Reserve is about 100 years old, and the Federal Reserve made deficit spending a whole different beast. As such, tracking government debt from the genesis of the nation to now is inherently dishonest.

    For crying out loud, national debt as a percentage of GNP was 120% in the wake of WWII, as compared to 90% now. I'm not apologizing for it, I'm just sick of this kind of malarkey.

    Manipulating the numbers for political gain does nothing to fix the problem. I'd rather focus on fixing.
    I'm already gearing up for Finger Vote 2014.

    Just for reference, means my post was a giant steaming pile of sarcasm.

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    Re: Obama Added More to National Debt in First 19 Months Than All Presidents....

    Quote Originally Posted by Hicup View Post
    Doesn't matter, even if you adjust for inflation, to be accurate one must also "adjust" for the inflation that Obama's debt will eventually spell out.. Shouldn't be to hard to average out the inflation rate, no?

    Any other arguments you might have that is apologetic for Obama's spending spree?

    Tim-
    That's disingenous to suggest that any future inflation will ofset all the inflation we've had in over 200 years. Let's be reasonable here
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