Once again, Obama tells us BUSH DID IT!


The White House posted this handy chart on its page to explain how we got into this big financial mess.  Here is the official White House debt fault chart.

As you can see the Administration is back into “BUSH DID IT!”    My kids used to do that every time I caught them doing something wrong.  He did it!.  But this chart is pretty specific.  7 trillion added to the debt by Bush right?   Well explain the Treasury numbers in the chart below.

Historical Debt Outstanding – Annual 2000 – 2010

Includes legal tender notes, gold and silver certificates, etc.

The first fiscal year for the U.S. Government started Jan. 1, 1789. Congress changed the beginning of the fiscal year from Jan. 1 to Jul. 1 in 1842, and finally from Jul. 1 to Oct. 1 in 1977 where it remains today.

To find more historical information, visit The Public Debt Historical Information archives.

Date

Dollar Amount

09/30/2010

13,561,623,030,891.79

09/30/2009

11,909,829,003,511.75

09/30/2008

10,024,724,896,912.49

09/30/2007

9,007,653,372,262.48

09/30/2006

8,506,973,899,215.23

09/30/2005

7,932,709,661,723.50

09/30/2004

7,379,052,696,330.32

09/30/2003

6,783,231,062,743.62

09/30/2002

6,228,235,965,597.16

09/30/2001

5,807,463,412,200.06

09/30/2000

5,674,178,209,886.86

So lets say that bush left office with an almost 11 trillion debt.  Is anyone doing the math already?  11 T – 5.6 T is NOT 7 Trillion.  It comes out to a little over 5 Trillion.  Is my math right?   So in 8 years with 2 wars going on and a recession in 2001 after the 9/11 attacks  plus he cut taxes, Bush added just over 5 trillion to the public debt.  That took him eight years.

Now where are we?  14,300,000,000,000  which if you subtract Bushes 11 trillion exit debt, comes out to 3.3 Trillion dollars of debt in just two years of Obama.  Anyone care to take that out to an 8 year stint by the Spender in Chief?

Why are people being fooled by this group.  Vote Obama out in 2012 and let someone who is willing to take responsibility run the country.

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6 Comments

Filed under National Debt

6 responses to “Once again, Obama tells us BUSH DID IT!

  1. Concerned Citizen

    It’s nice to see you used actual numbers this time.

    Consider this, though, from CBS News (no, not Fox News, in case you were wondering): “It took the U.S. government 191 years – from 1791 until 1982 – to run up its first trillion dollars in debt. The second and third trillions got on the scoreboard much more quickly – each in just four years.”

    “By the time George W. Bush was inaugurated in 2001, the National Debt stood at $5.7-trillion. He ran up more debt faster than nearly all of his predecessors combined: just under $4.9-trillion.”

    The article, to be fair, also noted that Obama would be poised to surpass this.

    The point? While I can’t and won’t dispute the debt numbers, your accounting doesn’t give a fair treatment of how PAST debt accumlulates over time nor does it account for inflation, neither of which you can simply blame on the current President. Nor are you pointing any of the blame in this post at Congress, who has the greater share of fiscal responsibility. Given the past debt, ANY sitting President would have added significantly to it. Fiscally, it would have been impossible not to. This in no way excuses Washington. It’s simply a fact.

    • mikemadden59

      Thank you for the salient and clear criticism. I have posted in the past that congress was at fault. Including the fact that they both D and R have the lowest polls in history. As i said the President is one-third of the Government. No doubt Congress holds some blame for spending. So why then when they (at least one side) wants to stop the crazy spending are we vilifying them?

      Bill Clinton along with a Republican congress got the national debt going in the right direction. Check and Balance.is the key. For me, and I have said this, one party is dangerous. I have to assume you think I am a dyed in the wool Republican. Not so. I am an Independent with fiscal conservative bent. Socially I am at worst libertarian.

      I don’t know who you are and that sort of bothers me. But go back and read over these posts. Yes many are outwardly angry at our President. Some about the Congress. But at times I blast both parties for their blind commitment to party. Oh and I will fix that grammatical error. COntinue discussion

      • Concerned Citizen

        Mikemadden59:
        Thanks for the reply. Honestly, it was nice just to discuss the issue (no sarcasm intended there). I respect your position as you stated it above. It’s fair and holding both parties accountable for blind commitment to party politics is equally fair. if I was too quick in my assumptions (and yes, dyed in the wool republican was one such assumption) I apologize.
        It is your blog, and you have every right to post whatever you wish, regardless of party affiliation.

      • mikemadden59

        Well then by all means read today’s post.. I use conservative estimates (in the terms of underestimating spending) but point out that nobody in Washington is working for us. I will debate anytime. And I will post critical comments if they are not rude. Glad you want a real discussion. Let’s do it.

  2. SpeakupNJ

    To Concerned Citizen…Progressive Liberals like yourself only care about the so called facts when they are shown to be against their arguments so forgive me if I find you laughable. The true point about Obama that you purposefully miss is…he is NOT an honest leader. Forget leader since he is only a community organizer at best. He is not an honest person; he is simply an immature liar. He accepts no…NONE…Responsibility for his terrible destructive actions. That my friend is the only FACT you need to absorb. It’s not name calling, it’s a FACT you choose to ignore.

    • Concerned Citizen

      SpeakupNJ:
      I am a registered democrat but not a progressive liberal (and yes there is a difference). To name one example, Boehner and I share many of the same beliefs on federal funding for abortion. Personal digs (like the phrase “I find you laughable”) don’t really help your argument and in my opinion don’t come across as fair, unbiased, or persuasive. If there is a true point I’m missing–you make several statements about Obama’s honesty–give me evidence and I’ll listen. So far, you’re merely stating that your opinion is fact. I do get suspicious when only one politician and one party get targeted, though, as that reeks of a clear agenda, as do overly subjective terms like “immature liar” and “terrible destructive actions.” This is a larger, systemic problem that cannot be confined to one office and simply pointing the figure at one man does nothing to solve the problem.

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