By the end of his first term, President Obama will have added as much debt as ALL the Prior 43 Presidents COMBINED

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Posted by Brian O’Connor

Sunday, July 10, 2011

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By the end of his first term, President Obama will have added as much debt as all the prior 43 presidents combined


He’s just getting warmed up.

PolitiFact – We’re able to calculate the debt figures for the earlier dates using the U.S. Department of Treasury’s “Debt to the Penny” calculator. The future debt amounts come from Office of Management and Budget projections. Because they are projections, they’re subject to change as economic circumstances change, but they are are widely cited among experts. (OMB doesn’t project future debt to specific dates, only to the end of future fiscal years, so that’s why our ending dates are only at the end of fiscal years.)

Here are the debt totals accumulated during the three periods we listed above:

* End of fiscal year 2008, when the accrued debt under the 43 presidents was $5.851 trillion, to the end of fiscal 2012, when the debt is projected to reach $11.881 trillion. Yes, more than the previous 43 presidents.

* Obama inauguration, when the accrued debt was $6.307 trillion, to the end of fiscal year 2013, when the debt is projected to reach $12.784 trillion.Yes, more than the previous 43 presidents.

* End of fiscal year 2009, when the accrued debt was $7.506 trillion, to end of fiscal year 2013, when the debt is projected to reach $12.784 trillion.No, not as much as the previous 43 presidents.

Over the first two scenarios above, the debt more than doubled from the starting point (which reflects the debt under the prior 43 presidents) to the ending point. So in these two scenarios, Romney is right — Obama accumulated more debt than the previous 43 presidents combined. But for the third scenario, the debt didn’t double, so Romney would be wrong. This exercise is a testament to the fact that small changes in assumptions can produce big differences in outcomes.

H/T Weasel Zippers

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AND YET THIS MORNING AMERICANS HEAR THIS:

Read by clicking on blue lettered link below

Smaller Deficit Deal in the Works?

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Boehner’s apparent retreat from the fiscal revolution to save America

Boehner Boner on Debt-Ceiling Battle

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IS THIS TRUE?

Read by clicking on blue lettered link below

Lack of long term thinking manifests itself as a lack of responsibility

Government of Sociopaths

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IS it TIME for term limits for Congress?

I VOTE YES!

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SINCE 1791

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3 CommentsLeave a comment

  1. [...] By the end of his first term, President Obama will have added as much debt as ALL the Prior 43 Presi… [...]

  2. this is disproven NONSENSE – but thanks for sharing, especially in that big authoritative font

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    Please reference your source in your comment and don’t use biased Factcheck or Snopes.

    Btw Alinskyism doesn’t work here.

    Don’t attack, use facts.

  3. You will NEVER get one to admit it, but this is 100% ACCURATE!

    1. I vote Democrat because I believe oil companies’ profits of 4% on a gallon of gas are obscene, but the government taxing the same gallon of gas at 15% isn’t.
    2. I vote Democrat because I believe the government will do a better job of spending the money I earn than I would.
    3. I vote Democrat because Freedom of Speech is fine as …long as nobody is offended by it.
    4. I vote Democrat because I’m way too irresponsible to own a gun, and I know that my local police are all I need to protect me from murderers and thieves.
    5. I vote Democrat because I believe that people who CAN’T tell us if it will rain on Friday CAN tell us that the polar ice caps will melt away in ten years if I don’t start driving a Prius.
    6. I vote Democrat because I’m not concerned about millions of babies being aborted so long as we keep all death row inmates alive.
    7. I vote Democrat because I think illegal aliens have a right to free health care, education, and Social Security benefits, and we should take away the social security from those who paid into it.
    8. I vote Democrat because I believe that business should not be allowed to make profits for themselves. They need to break even and give the rest away to the government for redistribution as the Democrats see fit.
    9. I vote Democrat because I believe liberal judges need to rewrite the Constitution every few days to suit some fringe kooks who would never get their agendas past the voters.
    10.. I vote Democrat because I think that it’s better to pay billions to people who hate us for their oil, but not drill our own because it might upset some endangered beetle, gopher or fish.
    11. I vote Democrat because while we live in the greatest, most wonderful country in the world, I was promised “HOPE AND CHANGE”.
    12. I vote Democrat because my head is so firmly planted up my ass, it’s unlikely that I’ll ever have another point of view.


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