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Obama inherited deficits from Bush administration

Gยเtคг Plคאєг ( JFK Democrat ) 2012/05/10 00:40:04
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In a spirited and unscripted debate with the House GOP,
President Barack Obama said Republicans were wrong to portray him as
running up large deficits.


Speaking at a retreat for House Republicans in Baltimore on Jan. 29,
2010, Obama was particularly critical of a question from Rep. Jeb
Hensarling of Texas. Hensarling asked Obama, "You are soon to submit a
new budget, Mr. President. Will that new budget, like your old budget,
triple the national debt and continue to take us down the path of
increasing the cost of government to almost 25 percent of our economy?"


"The fact of the matter is," Obama replied, "is that when we came
into office, the deficit was $1.3 trillion -- $1.3 trillion. So when you
say that suddenly I've got a monthly deficit that's higher than the
annual deficit left by Republicans, that's factually just not true, and
you know it's not true. And what is true is that we came in already with
a $1.3 trillion deficit before I had passed any law. What is true is,
we came in with $8 trillion worth of debt over the next decade."


We checked Hensarling's claim in a separate item. Here, we'll look at
Obama's claim that he came into office with a $1.3 trillion deficit and
$8 trillion worth of debt over the next decade.


On Jan. 7, 2009, two weeks before Obama took office, the
Congressional Budget Office reported that the deficit for fiscal year
2009 was projected to be $1.2 trillion. The 10-year projection was
estimated to be about $3.1 trillion. So Obama's number was very close on
the 2009 deficit -- he said $1.3 trillion -- but substantially
different from the 10-year projection -- he said $8 trillion.


There are two reasons why he differs from the CBO. On the difference
between the $1.2 trillion and the $1.3 trillion, the Obama
administration credited a small portion of spending on its watch to
policies of the previous administration. The reason for this is that the
federal government runs on a fiscal year that starts Oct. 1, so Bush
and Obama technically split responsibility for 2009 spending.


The large difference on the 10-year projection has to do with Bush
administration tax cuts. The CBO creates its estimates based on current
law, which means the CBO assumes that the Bush tax cuts will end in 2010
and everyone will start paying higher taxes in 2011 and going forward.
The Obama administration, on the other hand, assumed in its baseline
that those tax cuts would be renewed.


Economists we spoke with -- Josh Gordon, policy director for the
Concord Coalition, and Brian Riedl, lead budget analyst of the
conservative Heritage Foundation -- both said they believe the White
House approach is more realistic because it assumes current policy will
continue.


So the CBO's estimate is $5 trillion lower than the White House
numbers, though economists don't quibble with the White House
methodology. It does highlight, however, that when it comes to budget
projections, people can have differences of opinion about what to
include. In any budget projection there is room for interpretation, but
it seems reasonable to assume for a baseline that the Bush tax cuts will
continue. Obama's numbers are fairly solid, so we rate his statement
Mostly True.

Read More: http://www.politifact.com/truth-o-meter/statements...

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Top Opinion

  • Grand Gentleman 2012/05/10 01:33:16 (edited)
    True (Explain)
    Grand Gentleman
    +13
    Not only did Obama inherit a deficit, he inherited a deficit creating machine set up by many of the previous administrations who tweaked both the government and private sector in "good times" in ways that simply cannot work in "bad times." Then he got handcuffed to the Tea Party Republican Congress, so we have been stuck at an impasse ever since.

    Nice to see Bush Jr can still make it rain.
    party republican congress bush jr rain rain bush american indian

    Rain Maker Bush must be part American Indian ...

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  • Kibbles 2012/05/12 01:55:55
    True (Explain)
    Kibbles
    IT should be common knowledge right now that a President's changes don't happen until quite a time later, we may see some of Obama's change in the next presidency, maybe his second term?
  • Q 2012/05/10 15:16:51
    True (Explain)
    Q
  • Lady Whitewolf 2012/05/10 09:45:45
  • psiEnergos 2012/05/10 07:52:33
    False (Explain)
    psiEnergos
    +2
    Just for fun...

    fun
  • S* 2012/05/10 05:37:18
    True (Explain)
    S*
    +3
    It is a broken record, but if jumped on by a congressman with the wrong numbers, he has the right to defend himself. He did well, and he was replying to a direct question. I know people love to find things to hate Obama for, but this seems like it is taken out of context, and his numbers are rational, so I hang with the Pres on this one.
  • Pm 2012/05/10 05:36:28
    False (Explain)
    Pm
    The house was controlled by the democrats Bush's last 2 years. The house passing spending bills.
  • uncle r... Pm 2012/05/10 10:18:13
    uncle remus
    +7
    Republicans have controlled the Presidency and Congress for 57% and 67% of the decade prior to a depression. In other words, Republican governance has preceded more severe downturns than Democratic governance. The Republicans controlled the Presidency and Congress 80% and 100% of the decade prior to 1929. For comparison, in the decade prior to the current crisis Republican control has been 60% and 100%. Indeed, there has been a long period of Republican dominance in the legislative and executive branches, with control over Congress from 1995-2007 and the Presidency since 2001, not unlike the long period of Republican dominance leading up to the 1929 Depression. We are under very similar party governance conditions as the 1929 Great Depression.
  • Pm uncle r... 2012/05/10 17:26:41
    Pm
    The depression was caused by banking panics which weren't addressed properly addressed by FED via monetary policy. IT was a learning curve.
    You just make blank claims, no factual information to back it up. TYPICAL LIB. .
  • uncle r... Pm 2012/05/10 19:14:50
    uncle remus
    +3
    not blank claims, the stats quoted are easily validated,and self evident. Data
    1907-1908 Banking Panic

    Causes: Run on banks following failed attempt to corner copper market; 1906 San Francisco earthquake may have also contributed

    Severity: Max unemployment 8%; classified as a sharp recession.

    Presidents: The Republicans dominated the Presidency in the decade prior to 1907, with William McKinley (R, 1897-1901, assasinated) and Theodore Roosevelt (R, 1901-1909). 100% to the GOP.

    Congresses: The Republicans also controlled Congress 100% during this period, with up to 2:1 majorities in the Senate (1899-1901)..

    •55th (1897-1899): Senate: 34 (D) 46 (R); HoR: 134 (D) 206 (R)
    •56th (1899-1901): Senate: 26 (D) 53 (R); HoR: 163 (D) 185 (R)
    •57th (1901-1903): Senate: 29 (D) 56 (R); HoR: 153 (D) 198 (R)
    •58th (1903-1905): Senate: 32 (D) 58 (R); HoR: 178 (D) 207 (R)
    •59th (1905-1907): Senate: 32 (D) 58 (R); HoR: 136 (D) 250 (R)
    1920-1921 Post-WWI Depression

    Causes: European hyperinflation & post-war contraction

    Severity: Max unemployment 12%; classified as a depression.

    Presidents: Woodward Wilson (D, 1913-1921) was president through much of this period during which the US entered WWI (although Wilson was not in support of this). William Howard Taft (R, 1909-1913) was ...

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    not blank claims, the stats quoted are easily validated,and self evident. Data
    1907-1908 Banking Panic

    Causes: Run on banks following failed attempt to corner copper market; 1906 San Francisco earthquake may have also contributed

    Severity: Max unemployment 8%; classified as a sharp recession.

    Presidents: The Republicans dominated the Presidency in the decade prior to 1907, with William McKinley (R, 1897-1901, assasinated) and Theodore Roosevelt (R, 1901-1909). 100% to the GOP.

    Congresses: The Republicans also controlled Congress 100% during this period, with up to 2:1 majorities in the Senate (1899-1901)..

    •55th (1897-1899): Senate: 34 (D) 46 (R); HoR: 134 (D) 206 (R)
    •56th (1899-1901): Senate: 26 (D) 53 (R); HoR: 163 (D) 185 (R)
    •57th (1901-1903): Senate: 29 (D) 56 (R); HoR: 153 (D) 198 (R)
    •58th (1903-1905): Senate: 32 (D) 58 (R); HoR: 178 (D) 207 (R)
    •59th (1905-1907): Senate: 32 (D) 58 (R); HoR: 136 (D) 250 (R)
    1920-1921 Post-WWI Depression

    Causes: European hyperinflation & post-war contraction

    Severity: Max unemployment 12%; classified as a depression.

    Presidents: Woodward Wilson (D, 1913-1921) was president through much of this period during which the US entered WWI (although Wilson was not in support of this). William Howard Taft (R, 1909-1913) was president prior to this. So Dems were in power for 70% of the pre-depression period.

    Congresses: The Congress flip-flopped between Dems & GOP in this period, with Dems in control of the both houses for 60% of the period.

    •61st (1909-1911): Senate: 32 (D) 59 (R); HoR: 172 (D) 219 (R)
    •62nd (1911-1913): Senate: 42 (D) 49 (R); HoR: 228 (D) 162 (R)
    •63rd (1913-1915): Senate: 51 (D) 44 (R); HoR: 290 (D) 127 (R)
    •64th (1915-1917): Senate: 56 (D) 39 (R); HoR: 231 (D) 193 (R)
    •65th (1917-1919): Senate: 53 (D) 42 (R); HoR: 210 (D) 216 (R)
    •66th (1919-1921): Senate: 47 (D) 48 (R); HoR: 191 (D) 237 (R)
    1923-1924 Recession

    Severity: Max unemployment 5.5%; percent change in real GNP -4.1%; classified as a sharp recession.

    Presidents: Woodward Wilson (D, 1913-1921), Warren Harding (R, 1921-1923, died in office) and Calvin Coolidge (R, 1923-1929) were presidents leading up to the 1923 recession, so Dems were in power for 80% of this period.

    Congresses: Power moved from the Democrats to the Republicans in this period, with the HoR dramatically switching from 2:1 Democrat:Republican in 1913-1915 to 2:1 Republican:Democrat in 1921-1923. Power was shared 50/50 over the 10 year period.

    •63rd (1913-1915): Senate: 51 (D) 44 (R); HoR: 290 (D) 127 (R)
    •64th (1915-1917): Senate: 56 (D) 39 (R); HoR: 231 (D) 193 (R)
    •65th (1917-1919): Senate: 53 (D) 42 (R); HoR: 210 (D) 216 (R)
    •66th (1919-1921): Senate: 47 (D) 48 (R); HoR: 191 (D) 237 (R)
    •67th (1921-1923): Senate: 37 (D) 59 (R); HoR: 132 (D) 300 (R)
    1929-1933 Great Depression

    Causes: Stock market and banking collapse

    Severity: Max unemployment 25%; percent change in real GNP: -33%. Worst depression in US history.

    Presidents: Except for Woodrow Wilson (D, 1913-1921), a Republican was president for much of the prior decade before the 1929 collapse: Warren Harding (R, 1921-1923; died in office), Calvin Coolidge (R, 1923-1929) and Herbert Hoover (R, 1929-1933; in office when recession started). So Republicans held the executive office for 80% of the time prior to the Great Depression.

    Congresses: the 5 congressional sessions in the decade prior to 1929 were all controlled by the Republicans in both houses (although the 66th and 70th Senate were close ones). 100% to the GOP.

    •66th (1919-1921): Senate: 47 (D) 48 (R); HoR: 191 (D) 237 (R)
    •67th (1921-1923): Senate: 37 (D) 59 (R); HoR: 132 (D) 300 (R)
    •68th (1923-1925): Senate: 43 (D) 51 (R); HoR: 207 (D) 225 (R)
    •69th (1925-1927): Senate: 40 (D) 54 (R); HoR: 183 (D) 247 (R)
    •70th (1927-1929): Senate: 47 (D) 48 (R); HoR: 195 (D) 237 (R)
    1937-1939 Depression

    Causes: cut in New Deal spending.

    Severity: Max unemployment 20%; percent change in real GNP: -18%. Classified a depression, but is often considered a recession linked to the Great Depression.

    Presidents: Calvin Coolidge (R, 1923-1929) and Herbert Hoover (R, 1929-1933) were in power leading up to and into the Great Depression, followed by FDR (D, 1933-1945, died in office). Hence, Republicans held the executive office for 60% of the time prior the 1937 Depression.

    Congresses: The period leading up to the 1937 Depression was a transitional one from Republican power to Democratic power, with the latter dominating both house in 1935-1937 by 2:1 and 3:1 majorities in the Senate and HoR, respectively. The overall balance of the decade was 60% GOP, 40% Dems.

    •70th (1927-1929): Senate: 47 (D) 48 (R); HoR: 195 (D) 237 (R)
    •71st (1929-1931): Senate: 39 (D) 56 (R); HoR: 163 (D) 267 (R)
    •72nd (1931-1933): Senate: 47 (D) 48 (R); HoR: 216 (D) 218 (R)
    •73rd (1933-1935): Senate: 59 (D) 36 (R); HoR: 313 (D) 117 (R)
    •74th (1935-1937): Senate: 69 (D) 25 (R); HoR: 322 (D) 103 (R)
    1948-1949 Recession

    Causes: Post WWII contraction

    Severity: Max unemployment 7.9%; percent change in real GNP: -1.5%. Classified a sharp recession.

    Presidents: The decade leading up to the end of WWII was dominated by Democrats, first FDR (D, 1933-1945, died in office) and then Harry Truman (D, 1945-1953). Hence, Dems get 100%.

    Congresses: This period saw a reversal of the Democrats overwhelming control of Congress (by roughly 4:1 in 1937-1939) to a Republican majority in 1947-1949. Nevertheless, Democrats controlled Congress 90% of this period.

    •75th (1937-1939): Senate: 75 (D) 17 (R); HoR: 333 (D) 89 (R)
    •76th (1939-1941): Senate: 69 (D) 23 (R); HoR: 262 (D) 169 (R)
    •77th (1941-1943): Senate: 66 (D) 28 (R); HoR: 267 (D) 162 (R)
    •78th (1943-1945): Senate: 57 (D) 38 (R); HoR: 222 (D) 209 (R)
    •79th (1945-1947): Senate: 57 (D) 38 (R); HoR: 243 (D) 190 (R)
    •80th (1947-1949): Senate: 45 (D) 51 (R); HoR: 188 (D) 246 (R)
    1953-1954 Recession

    Causes: Post Korean War contraction; tightening of monetary policy due to inflation.

    Severity: Max unemployment 6.1%; percent change in real GNP: -3.2%. Classified a sharp recession.

    Presidents: Again, the Democrats controlled 100% of this period through FDR (D, 1933-1945, died in office) and then Harry Truman (D, 1945-1953).

    Congresses: There was some variation in power control over this period, with a Republican majority in 1947-1949. However, Democrats controlled Congress 80% of this period.

    •78th (1943-1945): Senate: 57 (D) 38 (R); HoR: 222 (D) 209 (R)
    •79th (1945-1947): Senate: 57 (D) 38 (R); HoR: 243 (D) 190 (R)
    •80th (1947-1949): Senate: 45 (D) 51 (R); HoR: 188 (D) 246 (R)
    •81th (1949-1951): Senate: 54 (D) 42 (R); HoR: 263 (D) 171 (R)
    •82th (1951-1953): Senate: 48 (D) 47 (R); HoR: 234 (D) 199 (R)
    1957-1958 Recession

    Causes: worldwide turndown.

    Severity: Max unemployment 7.5%; percent change in real GNP: -3.3%. Classified a sharp recession.

    Presidents: Harry Truman (D, 1945-1953) was in office in the beginning of the decade prior to 1957, followed by Dwight Eisenhower (R, 1953-1961). Overall, the Democrats controlled the office for 60% of this period

    Congresses: The latter part of the decade was a contentious period for Congress, with power exchanging hand 4 times. Overall, Democrats controlled Congress 60% of this period.

    •80th (1947-1949): Senate: 45 (D) 51 (R); HoR: 188 (D) 246 (R)
    •81th (1949-1951): Senate: 54 (D) 42 (R); HoR: 263 (D) 171 (R)
    •82th (1951-1953): Senate: 48 (D) 47 (R); HoR: 234 (D) 199 (R)
    •83rd (1953-1955): Senate: 46 (D) 48 (R); HoR: 213 (D) 221 (R)
    •84th (1955-1957): Senate: 48 (D) 47 (R); HoR: 232 (D) 203 (R)
    1973-1975 Oil Crisis Recession

    Causes: Vietnam War, OPEC oil production

    Severity: Max unemployment 9%; percent change in real GNP: -5%. Classified as a sharp recession.

    Presidents: Lyndon Johnson (D; 1963-1969) took over after JFK was shot in 1963, and with his one additional term he was in power longer than Richard Nixon (R, 1969-1974, resigned from office) during this period. 70% to the Dems, 30% to the GOP.

    Congresses: the 5 congressional sessions prior to 1973 were dominated by the Democrats, with 2:1 majorities in both houses from 1965-1967. 100% to the Dems.

    •88th (1963-1965): Senate: 67 (D) 33 (R); HoR: 258 (D) 167 (R)
    •89th (1965-1967): Senate: 68 (D) 32 (R); HoR: 295 (D) 140 (R)
    •90th (1967-1969): Senate: 64 (D) 36 (R); HoR: 248 (D) 187 (R)
    •91st (1969-1971): Senate: 58 (D) 42 (R); HoR: 243 (D) 192 (R)
    •92nd (1971-1973): Senate: 54 (D) 44 (R); HoR: 255 (D) 180 (R)
    1981-1982 Recession

    Causes: Iranian Revolution and 1979 energy crisis, inflation control continuing from 1973 recession

    Severity: Max unemployment 11%; percent change in real GNP: -3%. Classified a sharp recession.

    Presidents: While Jimmy Carter (D; 1977-1981) is commonly associated with the early 1980s recession, Republicans Richard Nixon (R, 1969-1974, resigned from office) and Gerald Ford (R, 1974-1977) were in power for more of the preceding decade. 60% to the GOP.

    Congresses: the Democrats controlled both houses for the 10 years prior to 1981, with 2:1 majorities in the HoR in 1975-1979. 100% to the Dems.

    •92nd (1971-1973): Senate: 54 (D) 44 (R); HoR: 255 (D) 180 (R)
    •93rd (1973-1975): Senate: 56 (D) 42 (R); HoR: 242 (D) 192 (R)
    •94th (1975-1977): Senate: 61 (D) 37 (R); HoR: 291 (D) 144 (R)
    •95th (1977-1979): Senate: 61 (D) 38 (R); HoR: 292 (D) 143 (R)
    •96th (1979-1981): Senate: 58 (D) 41 (R); HoR: 277 (D) 158 (R)
    2001-2003 Recession

    Causes: Dot-com bubble, 9/11 attacks

    Severity: Max unemployment 11%; percent change in real GNP: -3%. Classified a sharp recession.

    Presidents: The pre-recession period was dominated by the presidency of Bill Clinton (R, 1993-2001), preceded by George Bush Sr. (R, 1989-1993). Overall, the Dems ran the presidency for 80% of this period.

    Congresses: The Democrats controlled both houses from 1991-1997, with power changing to the Republicans in 1997-2001. Hence 60% to the Dems.

    •102nd (1991-1993): Senate: 54 (D) 44 (R); HoR: 255 (D) 180 (R)
    •103rd (1993-1995): Senate: 56 (D) 42 (R); HoR: 242 (D) 192 (R)
    •104th (1995-1997): Senate: 61 (D) 37 (R); HoR: 291 (D) 144 (R)
    •105th (1997-1999): Senate: 45 (D) 55 (R); HoR: 207 (D) 226 (R)
    •106th (1999-2001): Senate: 45 (D) 55 (R); HoR: 211 (D) 223 (R)
    2007-today Credit Crisis Recession

    Causes: Housing bubble and mortgage crisis

    Severity: Unsure yet, but unemployment in August 2008 was 6.1%

    Presidents: In the decade prior to the informal start to today’s credit crisis, Bill Clinton (D) served part of his second term while George Bush Jr. (R, 2001-present) has been the head of the Executive branch since 2001. So call it 60% Republican, 40% Democrat

    Congresses: Four of the Senates and all five Houses of Representatives leading up to 2007 were controlled by the Republicans. The 107th Senate was split 50/50, but VP Cheney provided the tie breaking vote. So 100% Republican control in the Congress leading up to the current economic crisis.

    •105th (1997-1999): Senate: 45 (D) 55 (R); HoR: 207 (D) 226 (R)
    •106th (1999-2001): Senate: 45 (D) 55 (R); HoR: 211 (D) 223 (R)
    •107th (2001-2003): Senate: 50 (D) 50 (R); HoR: 212 (D) 221 (R)
    •108th (2003-2005): Senate: 48 (D) 51 (R); HoR: 204 (D) 229 (R)
    •109th (2005-2007): Senate: 44 (D) 55 (R); HoR: 202 (D) 232 (R)
    the stats given here back up the previously stated percentages.
    (more)
  • Pm uncle r... 2012/05/10 20:32:30
    Pm
    All good info..ALl you did was show whether congress and senate was controlled by dems or reps.....You didn't once mentioned a partisan bill sponsored by either dems or repubs which harmed the country.
  • uncle r... Pm 2012/05/10 20:49:46
    uncle remus
    +1
    my orignal comment was about WHO had control of the Congress and the White House preceding economic downturns ,recessions,The Great Depression,etc.and as the stats show my comment that Republican governance has preceded more economic downturns than Democratic governace. is a fact
  • Pm uncle r... 2012/05/11 00:05:02
    Pm
    The point I am making whoo ever is preceding has very little to do with economic downturns. The policies which are put in place directly having a negative impact on the economy are of importance. You cannot evaluate without so.
  • uncle r... Pm 2012/05/11 13:12:20
    uncle remus
    right.......... the Fact that the Repubs.had control of the Congress and the White House for ten years preceding many severe economic downturns,yet their actions weren't responsible for the problems that ensued is like saying," uh yes Officer I was at the wheel, but it;s not my fault that the car ended up in the ditch"..........
  • Pm uncle r... 2012/05/12 19:55:48
  • uncle r... Pm 2012/05/12 22:48:56
    uncle remus
    the stats I have already provided paint the history factually, for specific actions and polices,I would suggest the study of these points in time,the specifics are held within the given era chosen to study.
  • Pm uncle r... 2012/05/12 23:08:31
    Pm
    I suggest you study the policies during these times before you make ridiculous claims.
  • uncle r... Pm 2012/05/13 01:55:12
    uncle remus
    so facts are ridiculous? history is what it is,The comment I made as to Republican governance is a statistical fact The 1929 Great Depression provides a very illustrative example, as this downturn was preceded by the only period over the past century in which Republicans controlled both the Presidency and Congress for more than a decade: 1921-1933.The Republicans controlled the Presidency and Congress 80% and 100% of the decade prior to 1929. For comparison, in the decade prior to the current crisis Republican control has been 60% and 100%. Indeed, there has been a long period of Republican dominance in the legislative and executive branches, with control over Congress from 1995-2007 and the Presidency since 2001, not unlike the long period of Republican dominance leading up to the 1929 Depression. We are under very similar party governance conditions as the 1929 Great Depression.

    History is what it is,all I have presented is facts and the statistics to back them up,
  • Pm uncle r... 2012/05/13 03:42:03
  • uncle r... Pm 2012/05/13 12:08:05
    uncle remus
    stuck on your deflective comments aren't you? History is what it is, the Fact that the Republicans held the reins for more than a decade before the Great depression is a fact, they were at the wheel , car ended up in ditch, denial of this fact ,doesn't change the end results. So one more time, who was in control of our govt.for more than 10 years preceding and including 1929?what they did or didn't do isn't the issue here,it's simply history and it's pretty clear who was in charge.and the end results remain unchanged. wahooooo
  • Pm uncle r... 2012/05/14 06:39:22
    Pm
    Another comment without any policies to back your claims.
    thanks for showing you have no idea. You are like a parrot. You hear something then repeat it.
  • Dark Angel AKA Hippiegirl 2012/05/10 05:32:10
    True (Explain)
    Dark Angel AKA Hippiegirl
    +4
    they spent Trillions on the war and the people who made money while the rest of us suffered $$$$ losses were republican politicians - Chaney & others
  • sjalan 2012/05/10 05:15:54
    True (Explain)
    sjalan
    +5
    And the mechanism that creates those deficits is still in place.

    Paying off the end of the Iraq ward
    Fighting the war in Afganistan
    and the Bush II tax cuts

    Combined they have added more than $3.8 trillion dollars to our national debt since 01/2009 when President Obama took office.

    I call them the economic ghosts of Bush II past.

    The rest of the deficits has been caused by the massive recession cutting our tax revenue by nearly $1.4 trillion dollars. The balance has been caused by the Party of NO but HELL NO refuseal to be willing to put people back to work with the Jobs bills that have been presented for passage.

    These bills would have had more than 5 million people back to work by now rebuilding our intrastructure of our country. BUT NO!! says the Republcian Party from day one of the Presidents terms in office
  • redhorse29 2012/05/10 04:47:38
    True (Explain)
    redhorse29
    +1
    And Bust inherited deficits from Clinton. Every president since Roosevelt have inherited a deficit. Only Obutthead has incurred more debt than all his predecessors in less only two years in office.
  • uncle r... redhorse29 2012/05/10 10:32:29
    uncle remus
    +4
    Don't confuse the national debt with the national deficit. The national debt is the accumulated debt carried from year to year. The deficit is the difference between tax revenue and government expenditure in a given year. Clinton was able to get expenditures below revenus while he was in office (known as a budget surplus), but he was not able to eliminate the debt. Clinton inherited a massive debt from GHW Bush (which he inherited from Reagan), and passed an only slightly smaller debt to GW Bush.
  • Guru_T_... redhorse29 2012/05/10 13:23:00
    Guru_T_Firefly
    +4
    Actually, that debt wouldn't have happened if Obama's predecessors hadn't royally screwed the pooch.
  • mich52 2012/05/10 03:42:02
  • Lady Wh... mich52 2012/05/10 09:47:02
  • rustyshackelford 2012/05/10 02:52:52
  • mich52 rustysh... 2012/05/10 04:08:46
  • rustysh... mich52 2012/05/10 04:17:43
  • Joe Shw... rustysh... 2012/05/10 14:06:57 (edited)
    Joe Shwingding BN-ZERO
    +2
    so your contention ... the Dem's take control of Congress and the economy tanks? Is that what I am gleaming here? Basically saying the economic cycles follow election cycles exactly? Right? I wouldnt want to prove you are an idiot if that is NOT hat you are saying.
  • jackolantyrn356 2012/05/10 02:33:00
    True (Explain)
    jackolantyrn356
    but these deficits were directly from th LBJ Circus of the1960s. //// People like you sisken me.
  • Guru_T_... jackola... 2012/05/10 13:24:47
    Guru_T_Firefly
    +2
    Please join us in reality.
  • Cal 2012/05/10 02:11:43
    True (Explain)
    Cal
    Obama inherited a record setting debt from Bush....and then promptly tripled said record breaking debt into an even higher debt. Doesn't excuse either President.
  • Jane Cal 2012/05/10 14:12:31
    Jane
    +1
    And the debt will only get bigger as long as the Republicans refuse to raise taxes.
  • Cal Jane 2012/05/10 15:30:52
    Cal
    I don't worry about the rights actions as much as I worry about the left's uncontrolled spending.
  • Gยเtคг ... Cal 2012/05/10 21:14:55
    Gยเtคг Plคאєг ( JFK Democrat )
    Well you should worry about the rights uncontrolled spending then also
  • Jane Cal 2012/05/11 23:42:48
    Jane
    +1
    Much spending is needed or already committed by previous administrations, therfore we need more income from those that can afford it the most as most of those got rich by weakening the middle class. Can't tax the job creators? Where are the jobs?
  • Grand Gentleman 2012/05/10 01:33:16 (edited)
    True (Explain)
    Grand Gentleman
    +13
    Not only did Obama inherit a deficit, he inherited a deficit creating machine set up by many of the previous administrations who tweaked both the government and private sector in "good times" in ways that simply cannot work in "bad times." Then he got handcuffed to the Tea Party Republican Congress, so we have been stuck at an impasse ever since.

    Nice to see Bush Jr can still make it rain.
    party republican congress bush jr rain rain bush american indian

    Rain Maker Bush must be part American Indian ...
  • Bali Grand G... 2012/05/10 09:21:46
    Bali
    TERRY ANDERSON, A BLACK LOS ANGELES TALK RADIO HOST,
    WENT DOWN A LIST OF THINGS SENATOR OBAMA SAID THAT AREN'T EXACTLY CORRECT.

    1.) Selma March Got Me Born - NOT EXACTLY, your parents felt safe enough to
    have you in 1961 - Selma had no effect on your birth, as Selma was in 1965.
    (Google 'Obama Selma ' for his full March 4, 2007 speech and articles about its various untruths.) ! !

    2.) Father Was A Goat Herder - NOT EXACTLY, he was a privileged, well-educated youth, who went to work with the Kenyan Government.

    3.) Father Was A Proud Freedom Fighter - NOT EXACTLY, he was part of one of
    the most corrupt and violent governments Kenya has ever had.

    4.) My Family Has Strong Ties To African Freedom - NOT EXACTLY;
    your cousin Raila Odinga created mass violence in attempting to overturn a legitimate election in 2007
    in Kenya. It was the first widespread violence there in decades.
    The current government is pro-American but Odinga wants to overthrow it and establish Muslim Sharia law.
    Your half-brother, Abongo Obama, is Odinga's follower.
    You interrupted your New Hampshire campaigning to speak to Odinga on the phone.
    Check out the following link for verification of that....and for more.

    Obama's cousin Odinga ran for president in Kenya and tried to get Sharia
    Muslim law in place there. When O...













































































































































    TERRY ANDERSON, A BLACK LOS ANGELES TALK RADIO HOST,
    WENT DOWN A LIST OF THINGS SENATOR OBAMA SAID THAT AREN'T EXACTLY CORRECT.

    1.) Selma March Got Me Born - NOT EXACTLY, your parents felt safe enough to
    have you in 1961 - Selma had no effect on your birth, as Selma was in 1965.
    (Google 'Obama Selma ' for his full March 4, 2007 speech and articles about its various untruths.) ! !

    2.) Father Was A Goat Herder - NOT EXACTLY, he was a privileged, well-educated youth, who went to work with the Kenyan Government.

    3.) Father Was A Proud Freedom Fighter - NOT EXACTLY, he was part of one of
    the most corrupt and violent governments Kenya has ever had.

    4.) My Family Has Strong Ties To African Freedom - NOT EXACTLY;
    your cousin Raila Odinga created mass violence in attempting to overturn a legitimate election in 2007
    in Kenya. It was the first widespread violence there in decades.
    The current government is pro-American but Odinga wants to overthrow it and establish Muslim Sharia law.
    Your half-brother, Abongo Obama, is Odinga's follower.
    You interrupted your New Hampshire campaigning to speak to Odinga on the phone.
    Check out the following link for verification of that....and for more.

    Obama's cousin Odinga ran for president in Kenya and tried to get Sharia
    Muslim law in place there. When Odinga lost the elections, his followers burned Christians' homes and then burned men, women and children alive in a Christian church where they took shelter... Obama SUPPORTED his cousin before the election process here started. Google Obama and Odinga and see what you get. No one wants to know the truth.

    5.) My Grandmother Has Always Been A Christian - NOT EXACTLY, she does her
    daily Salat prayers at 5 AM according to her own interviews. Not to mention,
    Christianity wouldn't allow her to have been one of 14 wives to 1 man.

    6.) My Name is African Swahili - NOT EXACTLY,
    your name is Arabic and 'Baraka' (from which Barack came) means 'blessed' in that language.
    Hussein is also Arabic and so is Obama.

    Barack Hussein Obama is not half black.
    Obama is the first Arab-American President, not the first black President. Barack Hussein Obama
    is 50% Caucasian from his mother's side and 43.75% Arabic and 6.25% African Negro from his father's side. Although Barack Hussein Obama's father was from Kenya, his father's family was mainly Arabs..
    Barack Hussein Obama's father was only 12.5% African Negro and 87.5% Arab (his father's birth certificate states he's Arab, not African Negro). From....and for more....go to.....
    http://www.arcadeathome.com/n...
    an,_only_6.25%25_African

    7.) I Never Practiced Islam - NOT EXACTLY,
    you practiced it daily at school, where you were registered as a Muslim and kept that faith for 31 years,
    until your wife made you change so you could run for office.

    4-3-08 Article 'Obama was 'quite religious in Islam''
    http://www.wnd.com/index.php?...
    http://www.wnd.com/index.php?...

    8.) My School In Indonesia Was Christian - NOT EXACTLY,
    you were registered as Muslim there and got in trouble in Koranic Studies for making faces (check your own book).

    February 28, 2008. Kristoff from the " New York Times " a year ago:
    " Mr. Obama recalled the opening lines of the Arabic call to prayer, reciting them with a first-rate accent.
    In a remark that seemed delightfully uncalculated (it'll give Alabama voters heart attacks),
    Mr. Obama described the call to prayer as 'one of the prettiest sounds on Earth at sunset.'
    This is just one example of what Pamela is talking about when she says 'Obama's narrative is being altered,
    enhanced and manipulated to whitewash troubling facts.' "

    9.) I Was Fluent In Indonesian - NOT EXACTLY,
    not one teacher says you could speak the language.

    10.) Because I Lived In Indonesia, I Have More Foreign Experience - NOT EXACTLY,
    you were there from the ages of 6 to 10, and couldn't speak the language.
    What did you learn except how to study the Koran and watch cartoons?

    11.) I Am Stronger On Foreign Affairs - NOT EXACTLY, except for Africa
    (surprise) and the Middle East (bigger surprise); you have never been
    anywhere else on the planet and thus have NO experience with our closest
    allies.

    12.) I Blame My Early Drug Use On Ethnic Confusion - NOT EXACTLY,
    you were quite content in high school to be Barry Obama, no mention of Kenya and no mention of struggle to identify - your classmates said you were just fine

    13.) An Ebony Article Moved Me To Run For Office - NOT EXACTLY,
    Ebony has yet to find the article you mention in your book. It doesn't, and never did, exist.

    14.) A Life Magazine Article Changed My Outlook On Life - NOT EXACTLY,
    Life has yet to find the article you mention in your book. It doesn't, and never did, exist.

    15.) I Won't Run On A National Ticket In '08 - NOT EXACTLY,
    here you are, despite saying, live on TV, which you would not have enough experience by then,
    and you are all about having experience first.

    16.) Voting 'Present' is Common In Illinois Senate - NOT EXACTLY,
    they are common for YOU, but not many others have 130 NO VOTES.

    17.) Oops, I Miss-voted - NOT EXACTLY,
    only when caught by church groups and Democrats, did you beg to change your misvote.

    18.) I Was A Professor Of Law - NOT EXACTLY;
    you were a senior lecturer ON LEAVE.

    19.) I Was A Constitutional Lawyer - NOT EXACTLY,
    you were a senior lecturer ON LEAVE.

    20.) Without Me, There Would Be No Ethics Bill - NOT EXACTLY,
    you didn't write it, introduce it, change it or create it.

    21.) The Ethics Bill Was Hard To Pass - NOT EXACTLY,
    it took just 14 days from start to finish.

    22.) I Wrote A Tough Nuclear Bill - NOT EXACTLY,
    your bill was rejected by your own party for its pandering and lack of all regulation -
    mainly because of your Nuclear donor, Exelon, from which David Axelrod came.

    23.) I Have Released My State Records - NOT EXACTLY,
    as of March, 2008, state bills you sponsored or voted for have yet to be released, exposing all the special interests pork hidden within.

    24.) I Took On The Asbestos Altgeld Gardens Mess - NOT EXACTLY,
    you were part of a large group of people who remedied Altgeld Gardens.
    You failed to mention anyone else but yourself, in your books.

    25.) My Economics Bill Will Help America - NOT EXACTLY,
    your 111 economic policies were just combined into a proposal which lost 99-0,
    and even YOU voted against your own bill.

    26.) I Have Been A Bold Leader In Illinois - NOT EXACTLY,
    even your own supporters claim to have not seen BOLD action on your part.

    27.) I Passed 26 Of My Own Bills In One Year - NOT EXACTLY,
    they were not YOUR bills, but rather handed to you,
    after their creation by a fellow Senator, to assist you in a future bid for higher office.

    28.) No One on my campaign contacted Canada about NAFTA - NOT EXACTLY,
    the Canadian Government issued the names and a memo of the conversation your campaign had with them.

    29.) I Am Tough On Terrorism - NOT EXACTLY,
    you missed the Iran Resolution vote on terrorism and your good friend Ali Abunimah supports the destruction off Israel.

    30.) I Want All Votes To Count - NOT EXACTLY; you said let the delegates decide.

    31.) I Want Americans To Decide - NOT EXACTLY,
    you prefer caucuses that limit the vote, confuse the voters, force a public vote,
    and only operate during small windows of time.

    32.) I passed 900 Bills in the State Senate - NOT EXACTLY,
    you passed 26, most of which you didn't write yourself.

    33.) I Believe In Fairness, Not Tactics - NOT EXACTLY,
    you used tactics to eliminate Alice Palmer from running against you.

    34.) I Don't Take PAC Money - NOT EXACTLY, you take loads of it.

    35.) I don't Have Lobbyists - NOT EXACTLY,
    you have over 47 lobbyists, and counting.

    36.) My Campaign Had Nothing To Do With The 1984 Ad - NOT EXACTLY,
    your own campaign worker made the ad on his Apple in one afternoon.

    37.) I Have Always Been Against Iraq - NOT EXACTLY,
    you weren't in office to vote against it AND you have voted to fund it every single time.

    38.) I Have Always Supported Universal Health Care - NOT EXACTLY,
    your plan leaves us all to pay for the 15,000,000 who don't have to buy it.

    39.) My uncle liberated Auschwitz concentration camp - NOT EXACTLY,
    your mother had no brothers and the Russian army did the liberating.

    So, who EXACTLY is this Obama guy and what is he trying to sell us?!

    Please let your loved ones and friends know about this fraud.




    God Bless America
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