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National Debt Up $3 Trillion on Obama's Watch

Goobieman

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National Debt Up $3 Trillion on Obama's Watch

New numbers posted today on the Treasury Department website show the National Debt has increased by more than $3 trillion since President Obama took office.

The National Debt stood at $10.626 trillion the day Mr. Obama was inaugurated. The Bureau of Public Debt reported today that the National Debt had hit an all time high of $13.665 trillion.

The Debt increased $4.9 trillion during President Bush's two terms. The Administration has projected the National Debt will soar in Mr. Obama's fourth year in office to nearly $16.5-trillion in 2012. That's more than 100 percent of the value of the nation's economy and $5.9-trillion above what it was his first day on the job.
National Debt Up $3 Trillion on Obama's Watch - Political Hotsheet - CBS News

Let the excuses begin!
Really - at what point will liberals hold The Obama responsible for this?
 

Erod

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We have sunk $4.5 million further into debt PER DAY since Obama took office.

Let's hope that can be changed.
 

cpwill

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ummmm it's Bush's fault?



he made us pass Obamacare! :mad:
 

Councilman

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National Debt Up $3 Trillion on Obama's Watch - Political Hotsheet - CBS News

Let the excuses begin!
Really - at what point will liberals hold The Obama responsible for this?

I'm happy to see you're not expecting any kind of reasonable well thought out Liberal response based on reality, facts, or the truth, because that would make you a pie in the sky dreamer.

We know that Democrats have had control over House and thus spending since 2006 and they were the ones who have been wasting money faster than at any time in human history and having the least to show for it.
 

Wiseone

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Ya spending has gone out of control, all thanks to Obama, Bush, and Congress in all those years. Now if we could swallow that fact we'd realize that some kind of taxation is going to have be added or created to eventually solve this problem unless we want to rapidly and radically redesign the gov't which I believe would have huge social ratifications and would be more damaging in the long run and not to mention much harder to pull off. And its a "solution" that no one has really explored.
 

Goobieman

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Ya spending has gone out of control, all thanks to Obama, Bush, and Congress in all those years. Now if we could swallow that fact we'd realize that some kind of taxation is going to have be added or created to eventually solve this problem unless we want to rapidly and radically redesign the gov't which I believe would have huge social ratifications and would be more damaging in the long run and not to mention much harder to pull off. And its a "solution" that no one has really explored.
So, we need to raise taxes significantly because cutting spending would be too hard?

The spending is why we are here. Cutting it is the only way to chnage things.
 

Wiseone

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So, we need to raise taxes significantly because cutting spending would be too hard?

The spending is why we are here. Cutting it is the only way to chnage things.

No spending more than we have in income is why we are here, and more specifically spending more than our economy is designed to allowed to be taxed. Since we have a capitalist society it wouldn't work properly, without massive change that would remove its identity, if we say taxed 50% of everything and had spending to match. We don't disagree on those two I'm sure. However I think we can raise taxes in the short term to handle the deficit over a long period of time, I don't think the gov't can cut enough to continue the programs and level of spending people would expect without raising taxes.

Although I know you don't personally feel this way, but a huge portion of the country wants the government to do things that you don't think should exist at all. A huge portion want, medicare, social security, unemployment benefits, and all sorts of government programs. Now I believe that their views are just as valid as yours, so some kind of compromise has to be reached.

Anyway I don't want to talk too long BUT I think we need a combination of increased taxes, at least in the short term, and a serious reduction in spending. And I think for a real and practical solution that the majority will accept there has to be cuts to programs that any individual could pick among them some he thinks need more funding and some he thinks need far less.
 

Wiseone

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Much of debt is Bush's fault. Huge tax breaks, two wars, Medicare Part "D" to name a few.

Let the excuses begin!

Well technically as your article says, Bush and the Republican Party in congress, till 2006, has increased the debt more than Obama, in terms of real numbers. However whats different is the rate of that increase, which Obama clearly is the faster of the two.
 

rathi

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The only way to fix our deficit problem is to engage in same serious cutting of popular programs like medicare and the military or by raising taxes. Problem is, any politician who campaigns on actually making the tough calls won't win the election. Easy as it is to blame Bush or Obama for out spending woes, I think the public is the real culprit. For once, the politicians are doing exactly what the American populace wants and we need to take responsibility for that.
 

The Prof

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why did the party punt on the bush cuts?

no yes, no no, no maybe

just a lame duck

why did leadership NOT PROPOSE a budget for 2010?

Dems won

pure pusillanimity

pathetic

this leadership is cluelessly lost

admit it to yourself, you know it's true

everyone can see you
 

Bastinda

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Neither the debt or the deficit can improve if the middle class is weak.

Tightning our belts in a way that puts the middle class in a weaker economic position will make it impossible to dig ourselves out of this hole.

We can't possibly cut enough spending to fix the deficit/debt problems.

The ONLY way to get out of this is to build the middle class, not make it harder for them to survive. Which, in some cases, means the continued existence and funding of "entitlement" programs.

I know it FEELS uncomfortably counter-intuitive to those who think of budgets as if it's as simple as balancing a check book... but that's simply not how it works when you're dealing with billions of people and trillions of dollars.
 

The Prof

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maybe he should go on mythbusters and show us how the stimulus is gonna cap unemployment at 8%

or he could demonstrate how he's gonna cut the deficit in half in 4 years

Obama Vows To Halve Deficit In 4 Years - CBS News

maybe he could explain how we're all gonna be able to keep the health care plans we like

or how popular obamacare's gonna become over time

or how the hundreds of thousands of shovels are just waiting for jobs

of course, failing all that, he can just turn to the camera---again---and address the face of america, QUIT WHINING

admit it, he's pretty bad

sorry
 

The Prof

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i know it feels counter intuitive, but taxing the wealthy in times like these is just deadly to that middle class upon whom the whole world depends

it's spelled j-o-b-s

it's WHY the party punted

there will be no tax hikes on ANYONE

deal with it
 

pbrauer

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When does Obama start taking responsibility and stop blaming Bush
When are you going to admit that those thing I mentioned are part of Obama's debt?
 

j-mac

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When are you going to admit that those thing I mentioned are part of Obama's debt?

You know what....You're right. Bush signed in far too much that the runaway congresses pushed at him, no doubt. We voted them out in '06 because we wanted a different way, then in '08 we voted out the republican Presidency. But we didn't get that change did we? No, instead we got reckless spending on steroids. Now that part is damn sure Obama's fault, and he and the demo's start paying in 13 days.


j-mac
 
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This is purely Obama’s fault and the only way to fix the problem is with MASSIVE tax cuts for the richest 1% of the nation (Vote Republican, it‘ll fix everything!)
 

PeteEU

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When does Obama start taking responsibility and stop blaming Bush

When Bush defenders admit that Bush was to blame for the economic mess you are in and that he doubled the US debt.

Also if we follow the down the road set down by conservatives in other threads on this subject but regarding Bush and Clinton, then Obama can only be blamed for any debt since October 2009, not since he took office. He took over a Bush budget.
 

ptif219

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When are you going to admit that those thing I mentioned are part of Obama's debt?

A very small part now. Obama keeps growing the government and adding to the deficit and blaming Bush. After 2 years it is on Obama. He has failed to fix it and he can no longer blame Bush for the incompetence of the Obama administration
 

ptif219

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When Bush defenders admit that Bush was to blame for the economic mess you are in and that he doubled the US debt.

Also if we follow the down the road set down by conservatives in other threads on this subject but regarding Bush and Clinton, then Obama can only be blamed for any debt since October 2009, not since he took office. He took over a Bush budget.

After 2 years it is no longer about Bush but about how Obama has failed and his incompetency
 

pbrauer

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A very small part now. Obama keeps growing the government and adding to the deficit and blaming Bush. After 2 years it is on Obama. He has failed to fix it and he can no longer blame Bush for the incompetence of the Obama administration

What has President Obama added that matches what I listed for Bush?
 
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