Wednesday, March 20, 2013

Who Really Ran up the Debt?

While I could make a case that most of debt run up today on defense is due to the failed policies of Ronald Reagan I’ll just stick with the facts we know and can prove.


Bill Clinton left office in 2001 with four years of surplus and the debt was projected to be paid off by 2009. So if Bush would have done nothing we would not only be debt free but have a huge surplus right now. When you say Bush added 5 trillion to the debt and Obama 6 trillion that is a flat out lie.

Bush - He did add 5 trillion in new debt but when you take into account that the debt was projected to be paid off when he left office you can add the original 5 trillion in debt to his total. Instead of having a nation debt paid off in 2009 it was 10 trillion dollars. Add onto that 10 trillion that by just continuing the spending from 2008 we would have added an additional 4 trillion to the debt so that’s a total of 14 TRILLION that can be linked to the policies of President Bush.

Obama - when he took office the debt was 10 trillion, by doing nothing it would be over 14 trillion dollars today just by keeping the policies that were in place when he was sworn in. today it stands at 16 trillion meaning he has added to the debt but only to the tune of 2 trillion. When he came into office the deficit was over 1 trillion dollars a year and this year due to spending cuts and a stronger economy it will only be 750 billion meaning he has actually slowed down the growth of debt and cut the deficit.

So using facts it can be argued that

President Bush is responsible for 14 Trillion

President Obama is responsible for 2 Trillion

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