This is the new lie making the rounds on FB

[Horse with no Name]

[Make7]

1. Well at least they got the number right...

7/27/2012   $15,878,374,495,398.42
1/21/2009   $10,625,053,544,309.79

http://www.treasurydirect.gov/NP/BPDLogin?application=np

[bhikkhu]

2. Well, he inherited a system of massive deficit spending

at the exact time when it was critical to increase deficit spending to turn a recession around. He has actually slowed the growth of the federal budget, leading Forbes to name him "The Smallest Government Spender Since Eisenhower" http://www.forbes.com/sites/rickungar/2012/05/24/who-is-the-smallest-government-spender-since-eisenhower-would-you-believe-its-barack-obama/ .

I suppose that's not an entirely inspiring rebuttal, but the mess he inherited and the mess the global monetary system is in makes it difficult to perform a Clintonesque budget fix right now. I can say with assurance that the republicans have no working ideas themselves of what to do - and at least we are on a slow-and-steady recovery with Obama.

[RedStateLiberal]

3. Republicans only pretend to care about the deficit and debt...

...when Democrats are in power.

[Initech]

4. That's 1/2 right. It should read:

"Since Obama took office - the national debt increased by $5.2 trillion.*





* - thanks to eight years of Bush's failed policies of trillion dollar war and tax cuts for rich people - but fuck it, we're gonna blame Obama anyways - because we watch Fox News and listen to Hannity and don't think for ourselves."

[Make7]

5. During Bush's last year in office the national debt increased $1.44 trillion.¹

So far under Obama the yearly increase is averaging approximately $1.49 trillion.²

Seems like he is just adding to the debt about the same amount per year according to the precedent set by the former occupant of the White House.


[font style="font-size:0.8462em;"]¹ ² Figures based on data from http://www.treasurydirect.gov/NP/BPDLogin?application=np[/font]