Truesee's Daily Wonder

Truesee presents the weird, wild, wacky and world news of the day.

Saturday, May 5, 2012

 

Four Years of Obama Undoes Eight Years of Reagan

http://ricochet.com/main-feed/Four-Years-of-Obama-Undoes-Eight-Years-of-Reagan


Comments:
Not suprising. This guy is out to destroy us and he's making great progress.
He's turned everybody against each other and has half the country demanding that the other half provide for them and thinking they deserve it somehow.
He's got the country in the toilet now and if he gets another 4 years, he'll flush it.
Then we'll see how the lazy parasites like getting nothing when the whole house of cards collapses.
Saint Ronnie of Reagan Raised Taxes 11 times in 8 years on his way to tripling the national debt from what it took the previous 200 years before him to get to.
In 12 yrs with daddy Bush adding another trillion they quadrupled the national debt.
Dumbya Shrub Bush doubled the national debt from 5 trillion to 10 trillion in his 8 years by not paying for his tax cuts to the rich too and starting a war with Iraq based on the lies that they had something to do with 9/11.He didn't pay for that war either as well as his invasion and occupation of Afghanistan.
Most of the additional debt added is due to the Bush and his RepubliCON Congress' passed legislation where its bills are still coming due.
He deprived the treasury of trillions in income with his tax cuts and millions of jobs that he and his Republican Congress allowed their Corporate Owners to outsource to 3rd world nations in the name of greed.
Elect Willard mittens Romney you will get more of the same on steroids until he accomplishes the Republican goal of every working man and woman in America working for $7.25 hr. with no benefits.
4 MORE YEARS 4 MORE YEARS 4 MORE YEARS 4 MORE YEARS 4 MORE YEARS 4 MORE YEARS 4 MORE YEARS 4 MORE YEARS 4 MORE YEARS
Bobbya, Bush had a Democratic congress, stop repeating things you heard from other people, Because I know the non-sense you spouted is all incorrect it's making you look extremely ill-informed, and if Obama supporters all think like you do, of course the rest of us who know better are not going to think your very smart.
sully16,Like you saying Obama taking away constitutional rights and yet you couldn't name one.RIGHT?
Obviously you are terribly uninformed.Watching too much of the FOX Republican nazi Propaganda Network.
For Bush's 1st six years he had a Republican House and Congress when he ran up most the debt with his 2 wars and tax cuts.
For his last 2 years he had a Democrat Congress where he either vetoed their passed legislation that would have benefited everyone instead of just the rich or he threatened a veto.
Please don't look as stupid as you appear to ALL informed people and Inform Yourself instead of relying on the FOX Propagandists for your information.
Comment by bobbya - Today, 4:46 pm
sully16,Like you saying Obama taking away constitutional rights and yet you couldn't name one.RIGHT?
Obviously you are terribly uninformed.Watching too much of the FOX Republican nazi Propaganda Network.
For Bush's 1st six years he had a Republican House and Congress when he ran up most the debt with his 2 wars and tax cuts.
For his last 2 years he had a Democrat Congress where he either vetoed their passed legislation that would have benefited everyone instead of just the rich or he threatened a veto.
Please don't look as stupid as you appear to ALL informed people and Inform Yourself instead of relying on the FOX Propagandists for your information.
***********************************************
Are you that dumb bobbya???
(CNSNews.com) - In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan.

The U.S. Treasury Department divides the federal debt into two categories. One is “debt held by the public,” which includes U.S. government securities owned by individuals, corporations, state or local governments, foreign governments and other entities outside the federal government itself. The other is “intragovernmental” debt, which includes I.O.U.s the federal government gives to itself when, for example, the Treasury borrows money out of the Social Security “trust fund” to pay for expenses other than Social Security.

At the end of fiscal year 1989, which ended eight months after President Reagan left office, the total federal debt held by the public was $2.1907 trillion, according to the Congressional Budget Office. That means all U.S. presidents from George Washington through Ronald Reagan had accumulated only that much publicly held debt on behalf of American taxpayers. That is $335.3 billion less than the $2.5260 trillion that was added to the federal debt held by the public just between Jan. 20, 2009, when President Obama was inaugurated, and Aug. 20, 2010, the 19-month anniversary of Obama's inauguration.

By contrast, President Reagan was sworn into office on Jan. 20, 1981 and left office eight years later on Jan. 20, 1989. At the end of fiscal 1980, four months before Reagan was inaugurated, the federal debt held by the public was $711.9 billion, according to CBO. At the end of fiscal 1989, eight months after Reagan left office, the federal debt held by the public was $2.1907 trillion. That means that in the nine-fiscal-year period of 1980-89--which included all of Reagan’s eight years in office--the federal debt held by the public increased $1.4788 trillion. That is in excess of a trillion dollars less than the $2.5260 increase in the debt held by the public during Obama’s first 19 months.

When President Barack Obama took the oath of office on Jan. 20, 2009, the total federal debt held by the public stood at 6.3073 trillion, according to the Bureau of the Public Debt, a division of the U.S. Treasury Department. As of Aug. 20, 2010, after the first nineteen months of President Obama’s 48-month term, the total federal debt held by the public had grown to a total of $8.8333 trillion, an increase of $2.5260 trillion.

In just the last four months (May through August), according to the CBO, the Obama administration has run cumulative deficits of $464 billion, more than the $458 billion deficit the Bush administration ran through the entirety of fiscal 2008.

The CBO predicted this week that the annual budget deficit for fiscal 2010, which ends on the last day of this month, will exceed $1.3 trillion.

The first two fiscal years in which Obama has served will see the two biggest federal deficits as a percentage of Gross Domestic Product since the end of World War II.

“CBO currently estimates that the deficit for 2010 will be about $70 billion below last year’s total but will still exceed $1.3 trillion,” said the CBO’s monthly budget review for September, which was released yesterday. “Relative to the size of the economy, this year’s deficit is expected to be the second-largest shortfall in the past 65 years: At 9.1 percent of gross domestic product (GDP), that deficit will be exceeded only by last year’s deficit of 9.9 percent of GDP.”
Like I said and you proved.Reagan tripled the national debt from what it took the previous 200 years to get to in just 8 years even after raising taxes 11 times.
A dollar was worth a lot more 30 years ago.
Me thinks that MADDOG10 is the Dumb one.
Watching too much of the FOX Redpublican nazi News Channel.
President Obama and the taxpayers are still paying for the last Republican budgets passed by a Republican Congress.
Bush's 2 wars of choice so far have cost at least 2 trillion and his tax cuts to the rich have cost the treasury trillions more.
They have and will continue to cost the treasury trillions without any way in place to pay for them.
Doesn't CNS stand for CONservative Nazi Service?
As we can all tell, this clown, bobbya, is fricking brainwashed. Yeah, bobbya, I have been around the block a heck of alot longer than you have and you are suffering from the "HOPE" denile syndrome.
Bobbya, I am guessing you have never read the constitution, and have no idea what your rights are, and I privided you with 4 key laws, go back and read them, then like the mister research guy that you are, go and look at the link Jap provided you with, by the way, you have not proven anything except, you refuse to see the facts.
sully16 still has not told me what Constitutional Right HE has lost under President Obama!
changing the subject is a well worn CONservative tactic.

The resident MORON reddog doesn't know me and yet knows he has been around the block a lot longer than I!
Typical CONservative tactic is to "Accuse your opponent of doing what you do or being what you are".
I wonder why sully16 will not tell everyone which constitutional right he has lost under President Obama???? Hmmmmmm!
Like I said and you proved.Reagan tripled the national debt from what it took the previous 200 years to get to in just 8 years even after raising taxes 11 times.
A dollar was worth a lot more 30 years ago.
Me thinks that MADDOG10 is the Dumb one.
Watching too much of the FOX Redpublican nazi News Channel.
President Obama and the taxpayers are still paying for the last Republican budgets passed by a Republican Congress.
Bush's 2 wars of choice so far have cost at least 2 trillion and his tax cuts to the rich have cost the treasury trillions more.
They have and will continue to cost the treasury trillions without any way in place to pay for them.
Doesn't CNS stand for CONservative Nazi Service?
# posted by bobbya : 6:25 PM
@bobbya:

You are the most calculated wing nut of the liberal party.
You have not got one clue whatsoever.
Go back and read the post dumb-a$$ and tell everyone what it says sherlock..! I hope you got your boots on , because i think you'll be up to your knees by the time you're done...

You really are dumber than a chicken aren't you????
Bammy and you- perfect together.!
congratulations...!
@barney(bobbya),

Who Spent More? Average Bush Vs. Average Obama Spending Per Day Proves Obama Most Reckless And Irresponsible EVER
From NPR via the Weekly Standard:

In his State of the Union address tonight, President Obama will reportedly issue a call for “responsible” efforts to reduce deficits (while simultaneously calling for new federal spending). In light of the President’s expected rhetorical nod to fiscal responsibility, it’s worth keeping in mind his record on deficits to date. When President Obama took office two years ago, the national debt stood at $10.626 trillion. It now stands at $14.071 trillion — a staggering increase of $3.445 trillion in just 735 days (about $5 billion a day).

To put that into perspective, when President George W. Bush took office, our national debt was $5.768 trillion. By the time Bush left office, it had nearly doubled, to $10.626 trillion. So Bush’s record on deficit spending was not good at all: During his presidency, the national debt rose by an average of $607 billion a year. How does that compare to Obama? During Obama’s presidency to date, the national debt has risen by an average of $1.723 trillion a year — or by a jaw-dropping $1.116 trillion more, per year, than it rose even under Bush.

How much in deficit spending did Bush spend on average per day during his presidency? It’s pretty easy to figure out: $607 billion/365 days = $1.66 billion per day. That’s a lot of spending, Georgie. Shame on you!

But compared to Obama’s $5 BILLION of deficit spending per day? Obama spent well over three times more per day every single day than did Bush.

If you want to argue that Bush looks bad, fine. Bush looks bad. But Obama looks positively vile.

The article proceeds to present another way to calculate deficit spending by going a little deeper into the weeds:

In fairness, however, Obama can’t rightly be held accountable for the 2009 budget, which he didn’t sign (although he did sign a $410 billion pork-laden omnibus spending bill for that year, which is nevertheless tallied in Bush’s column). Rather, Obama’s record to date should really be based on actual and projected spending in fiscal years 2010 and 2011 (plus the $265 billion portion of the economic “stimulus” package, which he initiated and signed, that was spent in 2009 (Table S-10), while Bush’s should be based on 2002-09 (with the exception of that same $265 billion, which was in no way part of the 2009 budgetary process).

How do Bush and Obama compare on closer inspection? Just about like they do on an initial glance. According to the White House’s Office of Management and Budget, during his eight fiscal years, Bush ran up a total of $3.283 trillion in deficit spending (p. 22). In his first two fiscal years, Obama will run up a total of $2.826 trillion in deficit spending ($1.294 trillion in 2010, an estimated $1.267 trillion in 2011 (p. 23), and the $265 billion in “stimulus” money that was spent in 2009). Thus, Bush ran up an average of $410 billion in deficit spending per year, while Obama is running up an average of $1.413 trillion in deficit spending per year — or $1.003 trillion a year more than Bush.
MadDog - thanks for spelling it out. Em
Your welcome Em.

I came to hear booby's response but all I hear are crickets.
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