Obama -- fastest growing debt ever

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The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama's watch.
The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion.

It's the most rapid increase in the debt under any U.S. president.

The national debt increased $4.9 trillion during the eight-year presidency of George W. Bush. The debt now is rising at a pace to surpass that amount during Mr. Obama's four-year term.

National debt has increased $4 trillion under Obama - Political Hotsheet - CBS News

[Godwynn]

Yes, that will happen when an economy is on the verge of collapse.

I wish there were more ways I could emphasize collapse.

[NuggetBrain]

Is this sheer numbers, or percentages? Because that's like saying "Jim is only 10k in debt but John over there, he's 50k in debt!" but if Jim is making 30k a year and John is making 1.5 million a year well...the debt load is quite different.

[HousingCounselor]

Debt increase by presidents:
Reagan 186%
Bush 54%
Clinton 41%
Bush II 72%
Obama 23%.
Source Congressional Budget Office

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Originally Posted by HousingCounselor

Debt increase by presidents:
Reagan 186%
Bush 54%
Clinton 41%
Bush II 72%
Obama 23%.
Source Congressional Budget Office

The larger the debt grows, the smaller the actual percentages.

E.g. If a 100-pound person gains 10 pounds, it's a much bigger percentage of the overall weight than if a 200-pound person gains 10 pounds.

[dawnwes]

What will happen when the economy is on the verge of collapse?

The comment was "Obama has the fastest growing debt ever."

Your response was, "That will happen when the economy is on the verge of collapse?" What are you referring to? The debt will happen? Obama will happen?

I am not following your comment.

Dawn

Originally Posted by Godwynn

Yes, that will happen when an economy is on the verge of collapse.

I wish there were more ways I could emphasize collapse.

[Frugal]

somehow, I fail to be surprised at this increase...

[maat55]

Clearly Bush was a liberal and Obama a hypocritical liberal. Both have led the country into great dispare.

[asmom]

Originally Posted by HousingCounselor

Debt increase by presidents:
Reagan 186%
Bush 54%
Clinton 41%
Bush II 72%
Obama 23%.
Source Congressional Budget Office

So basically, the debt has been increasing for 30 years but nobody cared until now.

[Godwynn]

Originally Posted by dawnwes

What will happen when the economy is on the verge of collapse?

The comment was "Obama has the fastest growing debt ever."

Your response was, "That will happen when the economy is on the verge of collapse?" What are you referring to? The debt will happen? Obama will happen?

I am not following your comment.

Dawn

Tax revenues decline.

Depending on your political leanings, the spending increases were optional.

[nitemarecooper]

Originally Posted by dawnwes

What will happen when the economy is on the verge of collapse?

The comment was "Obama has the fastest growing debt ever."

Your response was, "That will happen when the economy is on the verge of collapse?" What are you referring to? The debt will happen? Obama will happen?

I am not following your comment.

Dawn

The debt will happen. Another key thing to notice is that Clinton was in office for 8 years, the same as Bush 2. Interesting to see their relative increase in debt. One other point is to remember that it is universally known and accepted that the federal budget for the first year of a new president is written by the previous administration. Obama's first budget was written by Bush. So any complaints about the first year is a complaint about Obama.

Further, Bush left the country in such horrible shape due to his incompetance that it was going to take anyone at least 4 years and most likely 8 in order to even start to turn the country and budget around. Obama may not be perfect, but if Bush wasn't so horrible and such a worthless, pointless, idiot president, things would not have been so bad now for Obama.

[photo]

Originally Posted by nitemarecooper

Obama may not be perfect,

Incompetent and dishonest are the words that comes to mind. We've been continually lied to about Obamacare, which is going to cost way, way beyond anything that was projected. Unemployment figures keep rising and don't even reflect the many people who have just given up looking for jobs, so they're not included in the figures. Obama has done nothing but made more people dependent upon the government. Obama is in his last year of the presidency, and we have no reason to think that he'll suddenly "change" and give us real leadership.

[GrimJack]

Originally Posted by photo

Incompetent and dishonest are the words that comes to mind.

Heh, Heh! And I bet you think BushII was epitome of competence and honesty.

Fail.

[alphadore]

Obama took presidency at the beginning of the biggest recession world has ever seen since the big depression. I believe it justifies the growing debt.

[photo]

Originally Posted by GrimJack

Heh, Heh! And I bet you think BushII was epitome of competence and honesty.

You lose however much you bet. Obama was supposed to be so different from all the other presidents (that hope and change thingie), and he turns out he is one of the most incompetent presidents ever.

[Godwynn]

This thread is a stellar example of exactly what is wrong with the United States.

We get the government we deserve.

[SarahJ]

I agree, this thread really has no point to it. It is so easy to criticize if you are not in the position. I wouldn't think trying to lead a financially troubled country would be easy at all. We should only hope that whoever we have as a leader will do their best.. for the sake of my children's future and yours.

[Mictjustin]

First, I am just a kid who has no idea about politics or the government. but I hear al this bashing about Obama and I'm wondering how you think he is/ was going to "fix" everything? Since when did we start truning to the government to fix our problems? We, me and you, are what makes this economy. Not the government. The reason the dollar is going down in value and the national debt is so high is because me and you are buying/ borrowing money that we don't have. Several, several posts on this website are mentioning that they have all these loans and very little income and are wondering what to do.. Solution? Handle money Gods ways. Save, invest, blow, and GIVE. People do not have money to do these thing if it's all going out the door due to loans.

[jadet]

Originally Posted by Mictjustin

First, I am just a kid who has no idea about politics or the government. but I hear al this bashing about Obama and I'm wondering how you think he is/ was going to "fix" everything? Since when did we start truning to the government to fix our problems? We, me and you, are what makes this economy. Not the government. The reason the dollar is going down in value and the national debt is so high is because me and you are buying/ borrowing money that we don't have. Several, several posts on this website are mentioning that they have all these loans and very little income and are wondering what to do.. Solution? Handle money Gods ways. Save, invest, blow, and GIVE. People do not have money to do these thing if it's all going out the door due to loans.

I read this 5 times and failed to understand where you're trying to get at.

[Team Syntek]

Yupp, Obama is officially in more debt than any other human in the world lol