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Thread: U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama

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    U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama

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    Friday, September 02, 2011
    By Terence P. Jeffrey

    (CNSNews.com) - At the close of business on Aug. 31--for the first time in the history of the country--the publicly held debt of the federal government topped $10 trillion, according to data released by the U.S. Treasury Department at 4:00 p.m. yesterday.

    During Obama's presidency, debt held by the public has now increased by $3.71694 trillion--or almost 59 percent from the $6.3073 trillion in debt held by the public that the government owed to its creditors on Jan. 20, 2009, when Obama was inaugurated
    And there we have it! This is Obama's legacy. Don't even try to blame Bush or anyone else.
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    Re: U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama

    Quote Originally Posted by American View Post
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    (CNSNews.com) - At the close of business on Aug. 31--for the first time in the history of the country--the publicly held debt of the federal government topped $10 trillion, according to data released by the U.S. Treasury Department at 4:00 p.m. yesterday.

    During Obama's presidency, debt held by the public has now increased by $3.71694 trillion--or almost 59 percent from the $6.3073 trillion in debt held by the public that the government owed to its creditors on Jan. 20, 2009, when Obama was inaugurated
    And there we have it! This is Obama's legacy. Don't even try to blame Bush or anyone else.
    So, Bush sets the house on fire, then moves out. Obama moves in, puts the fire out, but is to blame for the fire damage. Great logic if you're a Bush fan (or an Obama detractor)

    But okay, let's just play with the numbers. The period you outline (or more accurately, that L. Brent Bozell's website outlined for you) is 953 days. Backtracking 953 days from Bush's last day in office, we see that debt held by the public increased by $1.4681 trillion -- or almost 31 percent from the $4.8392 trillion in debt held by the public that the government owed to its creditors on June 12, 2006 (953 days before Bush left office). For exact numbers and dates see Debt to the Penny (Daily History Search Application)

    Now of course 31% is better than 59% when one is talking about a debt increase, but no one set Bush's house on fire, now did they? So even in good times, does Bush look all that good? And in comparison to that, does Obama look all that bad?

    Of course, let's not overlook the CNS (formerly Conservative News Service) emotional plea: "for the first time in the history of the country". Of course, when on realizes that pretty much each and every day since Ronald Reagan took office that each and every succeeding day the debt was the highest than any time in the history of the country -- that each day was a new record in the history of the country -- then that emotional mind game loses a lot of it's punch. At least amongst critical thinkers. . . . .

    And there you have it.

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    Re: U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama

    Quote Originally Posted by American View Post
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    And there we have it! This is Obama's legacy. Don't even try to blame Bush or anyone else.
    Can't wait to see the liberal spin on this.
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    Generalizations are stupid.
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    Re: U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama

    C'mon liberals, blame Bush. C'mon, you can do it.....

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    Re: U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama

    I blame the republican congress,

    They have done nothing to improve the economy for the last 8 months, it is all their fault
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    Re: U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama

    I want to blame both parties, but I’m finding it exceedingly difficult to do so with you guys preemptively pardoning Bush. Stop it. Your umbrage at high debt is egregiously disingenuous in light of your adamant refusal to compromise to mitigate it.

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    Re: U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama

    Quote Originally Posted by Lord Tammerlain View Post
    I blame the republican congress,

    They have done nothing to improve the economy for the last 8 months, it is all their fault
    No they inherited the economy from Pelosi and Reid. There's no cure for a combo like those two.
    Last edited by American; 09-03-11 at 09:43 AM.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama

    national debt : another component of the real cost of "cheap" imported goods that is not reflected in the retail price.

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    Re: U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama

    Quote Originally Posted by Befuddled_Stoner View Post
    I want to blame both parties, but I’m finding it exceedingly difficult to do so with you guys preemptively pardoning Bush. Stop it. Your umbrage at high debt is egregiously disingenuous in light of your adamant refusal to compromise to mitigate it.
    You mean borrowing more money to put the U.S. further in debt? Is that the compromise you're referring to?
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    Generalizations are stupid.
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    Re: U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama

    Quote Originally Posted by Lord Tammerlain View Post
    I blame the republican congress,

    They have done nothing to improve the economy for the last 8 months, it is all their fault
    what about the Democratic Senate? They have not done much since they had control.

    Actually, I blame both parties and the President for putting party politics ahead of the country.
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