Obama Has Now Increased Debt More than All Presidents from George Washington Through George H.W. Bush Combined

[I AM NOT THAT GUY 5,715]

(CNSNews.com) - The Obama administration passed another fiscal milestone this week, according to new data released by the Treasury Department. As of the close of business on Oct. 3, the total national debt was $14,837,099,271,196.71—up about $44.8 billion from Sept. 30.

That means that in the less-than-three-years Obama has been in office, the federal debt has increased by $4.212 trillion--more than the total national debt of about $4.1672 trillion accumulated by all 41 U.S. presidents from George Washington through George H.W. Bush combined.

This $4.212-trillion increase in the national debt means that during Obama’s term the federal government has already borrowed about an additional $35,835 for every American household--or $44,980 for every full-time private-sector worker. (According to the Census Bureau there were about 117,538,000 households in the country in 2010, and, according to the Bureau of Labor Statistics, there were about 93,641,000 full-time private-sector workers.)

When Obama was inaugurated on Jan. 20, 2009, according to the Treasury Department, the total national debt stood at $10,626,877,048,913.08.

At the end of January 1993, the month that President George H. W. Bush left office, the total national debt was $4.1672 trillion, according to the Treasury. Thus, the total national debt accumulated by the first 41 presidents combined was about $44.8 billion less than the approximately $4.212 trillion in new debt added during Obama’s term.

As of Monday, Obama had been in office 986 days—or about 32 and a half months. During that time, the debt increased at an average pace of $4.27 billion per day. Were that rate to continue until Obama’s term ends on Jan. 20, 2013, the debt would then stand at about $16.86534 trillion—an increase of more than $6.2 trillion for Obama’s four years.

That would equal nearly $53,000 for each American household or more than $66,00 for each full-time private-sector worker.

That total national debt did not exceed $6.2 trillion until 2002, when George W. Bush was president.

http://cnsnews.com/news/article/obama-has-now-increased-debt-more-all-presidents-george-washington-through-george-hw

[ready4ONE 5,400]

Ahhhh fuzzy math is fun! Thanks for the giggle!

[I AM NOT THAT GUY 5,715]

Ahhhh fuzzy math is fun! Thanks for the giggle!

How so? What is wrong with the math/arithmetic?

[ready4ONE 5,400]

How so? What is wrong with the math/arithmetic?

What is the interest on 10+ trillion over 32 months?

Was the 4+ trillion at the end of GHWB adjusted for inflation?

Just two questions studiously not asked/answered in the OP.

[one...two...tree 2,762]

Ahhhh fuzzy math is fun! Thanks for the giggle!

[I AM NOT THAT GUY 5,715]

What is the interest on 10+ trillion over 32 months?

At 2 percent per annum about $500 billion, not $4.2 trillion

Was the 4+ trillion at the end of GHWB adjusted for inflation?

No.

Looking for excuses doesn't change the reality.

Edited October 7, 2011 by Crusty Old Perv

[Gary and Alla 3,694]

What is the interest on 10+ trillion over 32 months?

Was the 4+ trillion at the end of GHWB adjusted for inflation?

Just two questions studiously not asked/answered in the OP.

You know that 70% of voters cannot name a country that begins with the letter "U", right?

It is like this. If the economy is perceived by most of those geniuses as "better" next November, Obama will win re-election. If the brainiacs we allow to vote think it is not better, he will lose. Even if his opponent is a cute lizard that speaks with a british accent, he will lose.

What do you see in his proposals that will make the economy better? More taxes?

[ready4ONE 5,400]

My response was solely to the silliness of the OP. Not a defense of Obama although the reality is we would be in no better shape economically now if Obama hadn't been elected.

I also think it is disingenuous to pin the mess solely on GWB. But the economy as it stands right now, and the total amount of the debt, are not solely Obamas making either. Just using your ballpark interest number alone dramatically alters the debt figure pinned on Obama.

Regardless of who anyone chooses to blame, the OP lacks much to be desired in regards to true critical thinking.

Edited October 7, 2011 by ready4ONE

[I AM NOT THAT GUY 5,715]

Regardless of who anyone chooses to blame, the OP lacks much to be desired in regards to true critical thinking.

[one...two...tree 2,762]

...the reality is we would be in no better shape economically now if Obama hadn't been elected.

Yep. Had McCain been elected, I would guess he would have consulted his economic advisers and would have asked Congress for some kind of intervention to avoid another Depression. But let's assume he would have vetoed any such measure. What we'd have right now then would be even higher unemployment and the national debt would still be in the trillions. All the b!tching from the Right over the national debt is disingenuous. They know where it was before Obama got elected and where it is today, and they know why 800 billion was added (to avoid another Depression), but they want to keep harping that they somehow magically become deficit hawks after an 8 year spending spree. Give me a fvcking break.

[Dan and Judy 614]

I thought congress made the budget?

[ready4ONE 5,400]

I thought congress made the budget?

Shhhhhhh!!! This is a thread about what a monster Obama is. No facts please!!!

[keysjangle 145]

Blah blah blah

It's gotten to the point where literally nothing can be done. Pay for more wars and stuff, like on drugs or brown people or something. Give everyone free health care. Spend it all before the big crash. Pay billionaires to move off to their own sunny islands. Legalize pot. Go out with a bang.

So sick of hearing about this. It's literally a joke at this point. This sounds like what drunk, ignorant right wing "show me the certificate", "dadt is good" military idiots rant about.

Edited October 7, 2011 by Gervl

[Gary and Alla 3,694]

Yep. Had McCain been elected, I would guess he would have consulted his economic advisers and would have asked Congress for some kind of intervention to avoid another Depression. But let's assume he would have vetoed any such measure. What we'd have right now then would be even higher unemployment and the national debt would still be in the trillions. All the b!tching from the Right over the national debt is disingenuous. They know where it was before Obama got elected and where it is today, and they know why 800 billion was added (to avoid another Depression), but they want to keep harping that they somehow magically become deficit hawks after an 8 year spending spree. Give me a fvcking break.

McCain wasn't elected, Obama was. The economy is a mess and Obama will get the blame or the credit next November. That is how it works. None of what you say above is understood by the vast majority of those we allow in the voting booth.

The DEMs will take another thrashing, Obama will retire early and the DEMs will hold fewer seats than any political party in history. They will be basically non-existant politically and out of power for 20 years or more.

I doubt your posts will warrant a response for the rest of my life.

[Gary and Alla 3,694]

Blah blah blah

It's gotten to the point where literally nothing can be done. Pay for more wars and stuff, like on drugs or brown people or something. Give everyone free health care. Spend it all before the big crash. Pay billionaires to move off to their own sunny islands. Legalize pot. Go out with a bang.

So sick of hearing about this. It's literally a joke at this point. This sounds like what drunk, ignorant right wing "show me the certificate", "dadt is good" military idiots rant about.

The point of un-@ssing so many Dems in 2010 (remember 2010?) was to stop what was happening. It was intended to prevent anything from being done because we did not like what was being done. In 2012 we will un-@ss many more along with President Downgrade, AKA President Fast and Furious.