National Debt has increased more under Obama than under Bush

[alp227]

The National Debt has now increased more during President Obama's three years and two months in office than it did during 8 years of the George W. Bush presidency.

The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.

The latest posting from the Bureau of Public Debt at the Treasury Department shows the National Debt now stands at $15.566 trillion. It was $10.626 trillion on President Bush's last day in office, which coincided with President Obama's first day.

The National Debt also now exceeds 100% of the nation's Gross Domestic Product, the total value of goods and services.

full: http://www.cbsnews.com/8301-503544_162-57400369-503544/national-debt-has-increased-more-under-obama-than-under-bush/

[The Velveteen Ocelot]

1. As I understand it, a big reason for that

is that Bush kept the cost of the Iraq/Afghanistan debacle off the books. Obama actually started accounting for it and included it in the budget.

[gateley]

5. That's my question/thought, too. He put everything on the books, Bush didn't. nt

[PoliticAverse]

7. This isn't the "budget deficit", it's the "national debt" - the total amount that has been borrowed.

[aaaaaa5a]

16. +1

Lets not forget that a good part of the Obama debt was spent getting us out of the Bush recession.

[Cali_Democrat]

2. Did Bush's wars and tax cuts for the wealthy suddenly end when Obama took over in Jan 2009?

Didn't think so. This is Bush's deficit. This is the Republican deficit.

on edit:

Don't forget the The Great Bush Recession which decimated tax revenue.

[denverbill]

6. Or the Medicare Prescription Drug program, completely unfunded.

The CBO predicted a balanced budget in Clinton's final year. Bush left office with a deficit of over $1 trillion.

And the freepers blame Obama.

[blm]

3. All that interest piling up from Bush's debt, too, plus wars NOW being put ON the books, instead of

being kept OFF the books, like Bush did.

Once that debt started rolling up under Bush years, there is no way the interest on that debt wouldn't start killing this nation after Obama took office.

Cancel Bush's taxcuts for the rich.

[blue neen]

4. That's quite a simplistic statement.

What's your point?

[Rosa Luxemburg]

8. does that include the $2.3 trillion that Rumsfeld conveniently 'lost?'

I think that many things have been missed off the Bush budget.

[Submariner]

9. CBS's Mark Knoller Falsely Claims Debt Has Increased More Under Obama Than Bush

Mark Knoller is the White House correspondant for CBS Radio, and a first-class right-wing tool. Monday night, he posted an article titled, "National debt has increased more under Obama than under Bush," which sent wingnuts scurrying to their Twitter accounts. The problem is, the piece is BS. Here's Knoller's key graf:

The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.

Don't you just love the way he capitalizes "debt"?

What Knoller doesn't specify, naturally, is what the debt was when Bush began his presidency. And that's a glaring omission, because unless you don't know that, you can't accurately compare the records. So here it is.

In 2001, the national debt Bush inherited was around $5.7T, give or take. Some of that debt in 2001 has to be attributed to Clinton, just as some of the debt in 2009 when Obama took office has to be attributed to Bush. When W. left office in 2009, the debt was nearly $11T. That's an increase of 89%.

Under Obama, the debt has increased from about $11T to about $15T, about 40%.

http://crooksandliars.com/blue-texan/cbss-mark-knoller-falsely-claims-debt-h

[abelenkpe]

10. thank you! nt

[Tarheel_Dem]

12. Thanks for posting that.

[alp227]

13. now that this report is out we can't argue "Bush mishandled the debt" anymore.

even with this larger figure by C&L, the point still stands regarding the $$ increase in debt between the presidencies.

[Bandit]

15. Do you have any more of what you are smoking?

Can't say "Bush* mishandled the Debt" anymore There has NEVER been a more mishandled economy inour nation's history than it was under Bush*.. NEVER even during the roaring 20's...The last time Republicans had complete control of both houses and the Administration......

[bluestate10]

17. Plus. Obama inherited a destructive tax cut that Bush left.

Two wars. A destroyed economy. Republican mouthpieces like the starter of this thread are panicking. They can't win on facts, so they have to resort to their mainstays, lies and sterotyping.

[Politicalboi]

11. Bush was left with a surplus

So there is no excuse for the way he squandered all of that, and put us in debt. What did they think was going to happen to anyone taking over after Bush.

[alc]

14. stats suck.

Both sides of this "debate" are right, but they're talking about different things. "leaders" of the right & left (Republicans & Democrats) are trying to mislead their followers as usual, and get everyone fighting and polarize us. I wish we wouldn't fall into the trap but we have again and people on both sides are fighting different battles and getting pissed at the other side for lying when they aren't talking the same thing.

Both Bush and Obama have the biggest "debt increase" depending on how you calculate "debt increase"

Bush: %debt

Obama: total $ of debt


Bash Bush (or Obama) all you want, but know what you're bashing instead of just having a gut reaction (and echo) to something that some Democrat leader, pundit, or blogger said. Limbaugh followers are rightly criticized for blindly aping what he says. Don't do the same on the other side - let all of the facts be said, not one statistical point of view. From one valid point of view Bush is "worse", but from another Obama is "worse".

There are substantive issues that can be talked (where'd the money go), but both sides are focusing on which statistic is right without acknowledging the other and that doesn't help anyone except those who want to polarize us.

[bluestate10]

18. Convient of you to leave 2000-2007 out of the mix. Liar tactic, pure and simple. nt