How We Got To The Debt Ceiling

Republicans try to blame Obama for increasing the National Debt, even though it’s only gone up 25% since he was in office, and it went up 75% under Bush, with Republican support. They also fail to mention that 95% of Obama’s budget deficit is carryover spending from the Bush Administration’s policies.

National Debt Increased by 75% under Bush and 25% under Obama:

2001 – $5.871 trillion
2008 – $10.640 trillion

National Debt Increased 25% Under Obama:

Jan 31st 2009 = $10.569-trillion

Jan 31st 2011 = $14.131-tr­­illionBut of the $3.56-tril­­lion increase, 98% was carry over from Bush programs:

Bush: $910-billi­­on = Interest on Debt 2009/2011
Bush: $360-billi­­on = Iraq War Spending 2009/2011
Bush: $319-billi­­on = TARP/Bailo­­ut Balance from 2008 (as of May 2010)
Bush: $419-billi­­on = Bush Recession Caused Drop in taxes
Bush: $190-billi­­on = Bush Medicare Drug Program 2009/2011
Bush: $211-billi­­on = Bush Meicare Part-D 2009/2011
Bush: $771-billi­­on = Bush Tax Cuts 2009/2011

Bush’s contributi­­on:

2001 to 2008: $4.769-tri­­llion
2009 to 2010: $3.181-tri­­llion

Total: $7.950-tri­­llion

Increase Since 2001 = $14.131 – $5.871 = $8.26-tril­­lion

Bush’s contributi­­on: $7.950-tri­­llion / $8.26-tril­­lion = 96%

Increase caused By Bush’s Programs: 96%
Increase caused by Obama’s Programs: 4%

 

If the ____Party Had Ever Paid Attention, Instead of Repeating “Deficits Don’t Matter,” like Bush & Cheney, they would have noticed Their REP’s VOTING IN MASS RAISING THE DEBT CEILING “MULTIPLE TIMES” (to pay for 2 Un-funded Un-budgeted Wars & Un-Replaced Tax Cuts-To-the-Rich). They might have noticed the U.S. borrowing from the Chinese, & $1.1 Trillion from the Social Security Trust Fund to pay for a TRIPLING of the Military Budget. If they had raised their voices & guns in protest, when President Bush & the _____ were Borrowing, Spending, Subsidizing Job Exports, & Deregulating Wall Street Trading & Banks, they might have some credibility now. But all _____ possess is enough distain for “TheBlack” President to crash the world economy! { FYI:: BOTH THE DEBT CEILING & TAXES WERE RAISED “MULTIPLE TIMES” when “CONSERVATIVE ICON” Ronald Reagan was President …to pay for Tax Cuts-To-the-Rich …“Alleged Job Creator” gods & Military Spending! } _____ means EASY to OUT FOX with: the promise of RULE by Evangelical Christian Theocracy, “Divide & Conquer” social issue positions, & think tank “Pistol Whip” Sound Bites from “RentBoy” FRight Talkers & Owned Politicians!
Now we have come to this “planned culmination” of the Grover Norquist “Starve the Beast” Strategy which slashes “Thrifty Government Services” (privatizes & maximizes For-Profit-Corporate-Servi?ces,) & “Civilization Maintaining Taxes” to Nothing …just like Mexico, Pakistan, and Somalia.

Now we have come to this “planned culmination” of the Grover Norquist “Starve the Beast” Strategy which slashes “Thrifty Government Services” (privatizes & maximizes For-Profit-Corporate-Servi?ces,) & “Civilization Maintaining Taxes” to Nothing …just like Mexico, Pakistan, & Somalia.

Information from InvestmentWatchBlog.com with additional information provided by Mark Jansen