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  • Obama’s Tripling of the National Debt in Pictures


    This Tuesday the White House released their Mid-Session Review admitting they made a $2 trillion miscalculation in the size of the federal deficit that President Barack Obama’s borrow and spend policies would inflict on our nation. Heritage senior policy analyst Brian Riedl details the carnage:

    • While President Obama claims to have inherited the 2009 budget deficit, it is important to note that the estimated 2009 budget deficit has increased by $400 billion since his inauguration, and the whole point of the “stimulus” was to increase deficit spending to nearly $2 trillion based on the unproven notion that would it alleviate the recession.
    • The 22 percent spending increase projected for 2009 represents the largest government expansion since the 1952 height of the Korean War (adjusted for inflation). Federal spending is up 57 percent since 2001.
    • In 2009, Washington will spend $30,958 per household–the highest level in American history–and under President Obama’s budget, the figure will rise above $33,000 by 2019.
    • The White House brags that it will cut the deficit in half by 2013. The President does not mention that the deficit has nearly quadrupled this year. Merely cutting it in half from that bloated level would still leave budget deficits twice as high as under President Bush.
    • The public national debt–$5.8 trillion as of 2008–is projected to double by 2012 and nearly triple by 2019. Thus, America would accumulate more government debt under President Obama than under every President in American history from George Washington to George W. Bush combined.
    Posted in Economics [slideshow_deploy]

    83 Responses to Obama’s Tripling of the National Debt in Pictures

    1. Laura Diemer Cedar F says:

      Governor Dean,

      Just as an FYI, the Waterloo hospital Covenant Medical Center in Waterloo, Iowa, just settled for 4.5 million in a case of medical fraud with the federal government, but made no admission of guilt. You don't pay out 4.5 million if you are innocent. This is an excellent example of why we need health care reform. It all transpired within 20 miles of Senator Grassley's home.

      My mother campaigned for you in Iowa. She was a parapaelgic and one of your aids helped her get a new ramp. She is deceased now, but always treasured a picture of the two of you.

      I am now disabled and undergoing surgery next Wed. at the Univ. of Iowa. I receive Medicaid, but my 17 yr. gets no insurance. He avoids going to the dr. when he is sick because he knows he is not covered. My Social Security Disability puts him over the limit for the Hawk-I state program.

      If you wish to speak to me, I can be reached at 319/939-7644, with the exception of Wednesday.


      Laurie Diemer

    2. Bill San Antonio TX says:

      Dear Bloggers,

      The political party affiliation no longer matters – we are all Americans, first!

      To quote, JFK, "Ask not what your country can do for you but what you can do for your country."

      Many of us are out of work. Many of us are self-employed. Many of us are retired. We are forced to rely on family members and friends just to weather this economic nightmare storm. Many have no one to turn to. Yet, our present dilemna will reach unimaginable fiscal and economic disaster if we allow those who have failed to properly represent us – remain in office. Get active and vote these people out as soon as they run for re-election!

      I would think people in states like California would jump at the opportunity to clean out Sacramento. When businesses move from beautiful and great California because the leftists have run your state into the ground – the people of California must rise up and act. This is what we all can do to serve our country and halt the fiscal and monetary policies that will destroy the middle class and small businesses (which provide jobs and create wealth). We must not fall into the largest con-job in history by allowing government to take care of us. Demand jobs first and support for small businesses!

      I was reading a horrible statistic. It should frighten everyone as to how much (1) one trillion dollars really is. "A trillion dollars of $100 bills would stack to over 789 miles high…

      It is sheer lunacy to follow those economists that believe we can spend our way out of this mess. Can YOU spend YOUR way out of debt? That should be answer enough for any reasonable person. WE WILL HAVE TO PAY THIS BACK!! At least acknowledge this for what it is – a pure permanent power grab. "Health Care is only one leg of this."

      In closing, let me give you two quotes that have never been more germaine to what is happening.

      "I BEGIN BY TAKING. I shall find scholars later to demonstrate my perfect right." by Frederick the Great

      "It is seldom that liberty of any kind is lost ALL AT ONCE." by David Hume

      History is packed with those who thought "not us, not me".

      Have a great American weekend.

    3. Pingback: » Financial News Update - 08/28/09 NoisyRoom.net: Where liberty dwells, there is my country…

    4. Pingback: Obama’s Tripling Of Debt In Pictures « Nice Deb

    5. 15/70 says:

      There was no federal income tax before 1913 and in less than 100 years our federal government will have borrowed against not only our income but of a generation of Americans who have not been born yet. Time to repeal the 16th amendment and pass the enumerated powers act and take the power away from the federal government, they can't be trusted with the people's money.

    6. MAS1916 - Denver, CO says:


      The lefties are getting depressed about all this though. It seems that when the public reads the actual bills they are proposing and understands the incredible levels of debt being run up, there just is no one left to blame for the disaster.

      It is great to see Democrats depressed. (for confirmation of why they as a group are headed for severe emotional melt down, you can hit: http://www.conservativeblog.thewebinfocenter.com/… )

      Seeing Democrats depressed by things like the truth just makes the weekend that much brighter. Thanks for the picture of His debt!

    7. Daniel Riddle, Elkha says:

      I think everyone in Washington knew this would happen if the stimulus were passed. However only conservative groups like Heritage and a few talking heads on Fox News had the courage to bring it to light. Just goes to show you how few stones Washington polititions have.

    8. Bobbie Jay says:

      He is ignorant of the facts of the opposing. He will continue his course of ignorance unless he is stopped in his tracks.

    9. Gary in PA says:

      …hmmm no mention that it's Bush's 2009 budget until Oct 1st. Nor the fact that it failed to fund Afghanastan and Iraq. No mention of the last minute Bush bail out.

      I'm glad to see people FINALLY concerned about the deficit spending… be it EIGHT YEARS TOO LATE, but nice just the same.

    10. John B. San Diego says:

      Regulate Legislate, and Tax America into relative obscurity not likely The Left wing’s goal or Obama's objective. However unwittingly this will be the result of funding The Left wing’s Wish List and Obama's Agenda. Cleverly disguised as Recession ending Stimulus, Healthcare for All and a Save Our Planet Agenda, this is no more than a wish list dating back to the times of LBJ or further back

      What we have to ask is can we get the car out of the ditch when Obama's time is over. If we have to move the car back up on the road with little gasoline available and an extension cord that is too short that would make for much doubt in getting back out of that ditch. I just hope we survive as a nation. I think much of Cap and Tax revenues will be siphoned off to cover so-called deficit neutral Healthcare. And Stimulus will go the way of TARP funds. A big shrug of the shoulders and a promise we will use more oversight in the future. The whole time I'm wondering what future?

      Naively Obama and Cabinet will go to Russia and China with both hands out we need money and oh yeah we need help with missile defense China with both money and N. Korea and Russia with Afghanistan and Iran. We Americans have never negotiated from such a position of WEAKNESS!

    11. Edwin Buck says:

      These people in Washington would swallow a camel but choke on a morsal. They want to create a problem where there isn't any. It's very simple:

      You want to control illegal immigration? Make a law that starting next month, there will be a fine of $5,000/illegal immigrant on all employers. $1,000/illegal immigrant will go to the citizen that turn the company in to the governement. $4,000/illegal immigrant will go to sending that illegal home to where ever he or she came from. I will guarantee you, that within a month, we will not have any more problems with illegal immigration. There would be such an exodus of illegal immigrants out of the USA, that we, as US citizens will have something else to worry about.

    12. jr., Michigan says:

      does this really surprise anyone?? it should'nt. typical liberal president. next time, america….vote conservative!

    13. CC says:

      Now we know where to look for all that stimulus money.

    14. Pingback: Take a Good Look… « America, You Asked For It!

    15. Nate, South Florida says:

      ". . . based on the unproven notion that would it alleviate the recession . . ."

      That doesn't seem like a fair comment to state. There is plenty of data that exists that government spending can help turn around recessions.

    16. Bob says:

      Why adjust for inflation in the chart?

      The current national debt is approximately $11.7 trillion today.

      Obama will add $4 trillion to the national debt during his first term.

      There is no need to manipulate the numbers to make Obama look worse.

      Why 10 years? Yes, it is standard for the White House to project 10 years out, but if Obama is a one term president then those last 6 years do not belong to him.

      Don't allow bias to effect your honest reporting.

    17. Pingback: Sunday, August 30, 2009 — ExposeTheMedia.com

    18. EricG, New York says:

      The visual really helps to put into perspective the true scope of our economic enslavement. As a scientist, this looks to me like a standard bacterial growth curve… nothing good comes at the next change in slope.

      Thanks Heritage… you truly help keep us on the path of Liberty… if we only open our eyes….

    19. Oletta Cummings Salt says:

      Absolutely unconscionable. Politics and a grab for power.

    20. Owen Ca says:

      How can we stop this? Does our vote really count anymore?

      I was watching a documentary this morning that showed teenagers from Mexico jumping the border by the hundreds. In Obama's health care plan does he still plan to pay for all the non citizens medical like we are now?

    21. Rex Northern Virgini says:

      One wonders if Mr. Obama has ever heard of Ayn Rand, let alone read her words… "

      We are fast approaching the stage of the ultimate inversion: the stage where the government is free to do anything it pleases, while the citizens may act only by permission; which is the stage of the darkest periods of human history…"

    22. MAS1916 - Denver, CO says:

      Can't wait to see what the lefties do to explain this one. They will try to ignore it no doubt, but thanks for keeping their feet to the fire.

    23. Alex, Coral Springs, says:

      ahhhhh! Obamanomics working hard for the people. LOL!

    24. Pingback: Easy To Understand Tripling Of American Public Debt In 10 Years « Quipster

    25. Kathleen Newberry says:

      NObama continues to take our beloved U.S.A. down the wrong path. How many broken promises does it take before people WAKE UP!

      • Jimmy says:

        Better to go into debt making an attempt to better our lives here than do the same playing Army with our youth.

    26. Alton - Dallas says:

      God have mercy on us for electing a socialist who is forever changing our country to socialisum.

      Remember, "when freedon is taken by force, freedom can be regained by force, but when it is given up by default, it is forever lost."

    27. Randy, Mississippi says:

      Americans were so tired of being thought of as DUMB by the rest of the world that they went to the polls last November and removed all doubt. Maybe its time to remove something else instead!

    28. Maria, NC says:

      Heritage, when you show these graphs, please also color them according to whether the Republicans or Democrats control the Legislature. It is very clear which party acts like a teenager running amuck at a shopping mall with her parent's credit card.

    29. Jill, California says:

      Anyone who couldn't see this coming before the elections was blind.

      I'm not very smart politically or economically. But I know enough about human nature to predict that Obama would be as fiscally irresponsible if he were elected as he was during the campaigns.

      The man routinely outspent Hillary by three-, four-, or five-to-one. But Hillary consistently won more votes per dollar spent. Hillary knew how to do more with less. Obama knew only how to spend money recklessly as he spread his deception and phony charm.

      Obama routinely outspent John McCain also, with similar results per dollar spent. McCain, too, knew how to do more with less.

      Obama spent money like a drunken sailor, more to feed his ego than anything else. But more than that, he learned how readily his Koolaid-drinking worshipers would throw money at him at the mere invitation to do so.

      That was a crystal clear indication that Obama would raises taxes and fees to promote his agenda. What was to sop him from going again before his loyal subjects … doing more town halls and television appearances … to glorify whatever new snake oil he wanted them to purchase? It was so easy for him to elicit money during the campaigns. Surely it would be just as easy once he was elected.

      When I predicted this a year ago, I wondered if I'd be proven wrong. Again, I'm not very smart politically or economically. Never did I anticipate that I had underestimated the economic disaster Obama would foist on us.

    30. John B. San Diego says:

      Jill all due respect to drunken sailors, they spend their own hard earned money plus they wake up with empty wallets and a sore head.

      Obama has neither he wakes up with a new card "unlimited balance" and passes the sore head on to we Americans. Obama has no conscience and no good will for America he and the leftists have an agenda to put us down. They don't like America or American Patriots. Taking us down and receiving the spoils is the objective of Leftists and Obama. Ask Reverend Wright.

    31. Daver Ft. Worth says:

      Oh–my peoples!

      The heathen eat from the table while the righteous carp at scraps on the floor.

      Does anyone doubt the US currency will be detroyed before the devastation of hurrican Obama has blown from our shores? No FEMA in the world will save us after all of our allies have been insulted by the one.

      Pray for us oh Lord, and grant us salvation for our return to your side is near!

      Did I ever mention, this was the first time in my adult life that I was ashamed to be a citizen of this government?

    32. John B. San Diego says:

      Jill, Michelle Obama has stated for the first time in her adult life she is proud to be a citizen of the United States of America. What about her inherited freedoms from the likes of all of us who served and made her inheritance possible. It's a new nation right, all of the sudden Obama is in a position of power with no recognition to those whom in the past has protected Barrack & Michelle Obama's rights. Why does Barrack want to tear us down? I love America I respect the “Office of the Chief Executive” I swore to that and I meant every word of my oath

    33. Jerry from Chicago says:

      To Edwin Buck — I admire your $5,000 solution. I will be happy to vote for it if there is a politician with enough spine to propose it. But that's a big IF.

      Mr. Obama has no concept of fiscal responsibility. He will continue with his reckless spending programs and then turn around and start talking about "pay-go" to demonstrate his fiscal "responsibility". He and Pelosi have already started this nonsense, prior to the wheels coming off of his government health care plan. But it will come up again when he refuses to extend the Bush tax cuts. It will be the prelude to his scheme to increase taxes across the board. I can just hear him now talking about the outrageous deficits that "he inherited" and the need to bite the bullet and pony-up the cash. Joe Biden will again tell us of our patriotic duty to pay more taxes. Nancy Pelosi and the rest of the Congressional bleeding hearts will be talking to us about "our fair share".

      As long as we have a nickle left to take these s.o.b.s will be trying to get at it.

    34. Dennis A. Social Cir says:

      The dumb led by the ignorant. The dumb elected this ignorant to the office, now the dumb will have to live with the results, the bad thing about this mess we all have to live with it or change it in 2010.

    35. Alain, California says:

      Obama is not to blame for our economic disaster… Bush and his administration destruction of safeguards that were placed after the great depression cause this economic disaster. Unfortunately Obama has to increase the debt in order to get us out. Like a well run business initial cost has to be inquire in order to obtain any rewards. This system seems counter productive as a quick increase in the budget and deficit is needed to inject the economy with enough stimulant for a latter decrease. This has been done by this country in the past, including during the great depression (although WW2 really helped). The fact is that the past administration destroyed our economy and now Obama is taking the blame… How do you expect for Obama to fix something in less than a year when it took 8 years to break it?

    36. josil, san diego says:

      Forget about party,and liberals vs conservatives,and the host of commentators. Simply use your own brain to figure out on whose head these deficits will land. If you come up with the "yet-to-be-born" you are getting warm. Not everybody in the "greatest" generation was great, but the boomers are candidates for the "worst" generation (although, clearly, not everyone of them is worst). However, unlike many past generations the boomers mostly care about their own future and do not consider the obvious burdens they are handing future generations.

    37. Jill, California says:

      Touché, John B. from San Diego. My apologies to sailors and drunks everywhere. And shame on me for resorting to such a tired cliché.

    38. Pingback: AntiObamaBlog.com » Debt, Debt & More Debt

    39. Mike Mancuso, San Jo says:

      California seems to be the center of the liberal universe. We can see the future from here and it is not pretty. The majority of voters from here believe as Alain from California. He's right about Bush, you know. Even though I am a "hated" Kern County conservative, this country would be a different place today if Dick Cheney had been President and Bush had been…somewhere else. We earned an Obama by picking the lesser of the evils twice, then not demanding adherence to conservative principles. We also let the democrats malign our best people, file charges at will, call us names and blame us for everything. Katrina is the best example. Payback is hell!

      And payback is hell!

    40. Pingback: MzEllen - For the Life of Me » Blog Archive » President Obama’s Budget…our debt

    41. Paul Boiano, Vernon, says:

      A picture is worth a thousand words. Please, please forward this web link to every "thoughtful" American you know. We have got to stop this insanity!

    42. tz, nyc says:

      quoting poster 15/70: "There was no federal income tax before 1913 and in less than"…

      Lincoln imposed the first federal income tax in 1861 to help finance the Civil War. It lasted for 10 years.

    43. John B. San Diego says:

      Oh Jill not necessary you used your first amendment rights; in doing so you have allowed me to make my point. Obama spends dollars as if dollars come from thin air. You understand money growing on trees is absolutely not fast enough.

      We can only hope this Prez is a one term wonder.

      The entitlement society catches on to all this so-called free money and America will not last eight years. There exists no free lunch, at least not in this universe.

      Thanx for your comments!

    44. John B. San Diego says:

      President Andrew Jackson: deficit hawk. A Jeffersonian…

      Jackson called the debt a "national curse." He vowed to "pay the national debt, to prevent a monied aristocracy from growing up around our administration that must bend to its views, and ultimately destroy the liberty of our country."

      There even was a time when the U.S. made it a deliberate policy to pay off the national debt entirely — and succeeded in doing so. It remains to this day the only time in history a major country has been debt free. Ironically, the president who achieved this was the founder of the modern Democratic Party, Andrew Jackson.

      President Clinton did not run the treasury deficit free; many people are confused about these facts.

      Go to http://www.davidstuff.com/2009/wsj43.htm

    45. Jerry from Chicago says:

      To Gary in PA and Alain in CA — Go ahead living in the past and blame Bush for today's problems if it makes you feel better.

      You can rightfully blame him for Iraq and Blame him for TARP. You can't rightfully blame him for Fannie Mae and Freddie Mac. That debacle is owned by Jimmy Carter, Bill Clinton, Chris Dodd, Barney Frank and Franklin Raines.

      Bush didn't have an exit strategy in Iraq, perhaps you can tell us what Mr. Obama's exit strategy is for Afghanistan.

      Bush was responsible for TARP, giving money to the banks, hoping to keep them afloat. Obama was responsible for "Stimulus" that so far hasn't stimulated.

      Bush wanted to eavesdrop on suspected terrorists. Obama wants to takeover the public airwaves to stifle criticism of and disagreement with his policies.

      Bush left a deficit. Obama quadrupled it – in his first six months and shows no sign of stopping.

      Bush served in the Air Force reserve and learned how to fly a jet. Obama served in the Illinois legislature and learned the "Chicago Way".

      Bush cut taxes. Obama never met a tax he didn't want to increase.

      Bush wasn't a socialist. Obama is.

    46. John B. San Diego says:

      Woah..Jerry your telling me you don't approve of Chicago Style Politics moved up to the Federal Level?

      How many Americans does Obama think he will fool?

      He doesn't have you or me RIGHT…he has the entitlement society Jerry, in his hip pocket, trouble is they have not much in the way of funds or logical reasoning ability. We will crush them in the polls and at the polls, so what, it's better than handing the entire country over to them.

      No more welfare or hand-outs in exchange for votes at the ballot box. Acorn read my lips you are suckers on society and you can't have our country! Now do ya feel better Jerry? I DO!!

    47. Denis Goddard, Conco says:

      Want smaller government? Does the idea of thousands of freedom-loving people working together to attain liberty in our lifetime interest you? Nice fantasy, eh?

      Well, it's a reality and it's already happening. Join us.

    48. M. Ray, Erie CO says:

      This has to end. Not grind slowly to a stop, but end in its tracks. I cannot belive that the entire nation isn't terrified that there will be nothing but breadlines for them in just a few short years.

      My children are already in debt! Their children are in debt! How, under any terms, can that be justified?

    49. Claudia says:

      I am a republican but I know quite well that the democrats aren't the only problem. We are slave to our "public servants".

      To make things harder, we are now learning about all of these radical groups out there. In many cases, getting tax dollars while dodging work.

    50. Scott Curry, Austin, says:

      George Bush is entirely responsible for the debt by cutting taxes on the wealthy and then borrowing to pay for a war that he lied to get us into in the first place. LAY OFF OBAMA

      Bush has always had his daddy to rely on, and didn't so squat in the Air Force and went AWOL

      The country is screwed because Reaganomics doesn't work, it concentrates more and more wealth into fewer and fewer hands. You ignorant indignation over socialism doesn't face the facts and the facts are that unbridled capitalism creates wealth for the few and misery for the many. People drink the Republican Kool Aid because it's easier to paint things in terms of black and white than to view things the way they really are.

      Where is your proof that Obama is stifling opposition. You people LOST THE ELECTION and you are wrong. Even one of the wealthiest men in the world–Warren Buffet–says the wealthy need to be taxed more. You may win the next election but history will show in the end that your ideology is dead. We shouldn't serve the economy, the economy doesn't should serve us. The Republican idea of choice and freedom are false and and illusion. The choice between a rock and a hard place. The Republican idea of free markets is welfare for the wealthy and scraps for the middle class and the poor.

    51. Scott Curry, Austin, says:

      I fully expect you to silence my comments.

    52. Sami, Sweden says:

      We all know here in northern Europe, that the American style of spending, talk of high income, success is everything, is all a lie. This type of living is leading you all to the doom, and you will have to cover for it, citizen by citizen, all on an individual level. It´s up to you as individuals to face the American problem, your problem, that this style of life does not work. It´s evil, it brings corruption and lies. Wake up Americans, and I´m talking to all of you, regardless of Political belonging.

    53. Morr, Australia says:

      We need to build more F-22's and more F-35's to bring the wealth back to America.

    54. Globals says:

      all good things

    55. Dustin Kennell Chick says:

      well it might be to late to turn it all back once they sale OIL, by not using the Dollar, say hello to Inflation,it will be so high that it would kill the Dollar and this country. But the government would be on top. Well thank your Mr. President for the crapy Change you brought US.

    56. Pingback: Deficits, Debt and Dollar Demise? | Conservative Principles Now

    57. steve smith says:

      This article is misleading in that it doesn't talk about TOTAL government debt but just the public portion.

      Looking at total debt we came out of the Bush administration somewhere around 10.5 trillion debt 12/31/2008. Total debt in 2000 was around 5.3 trillion. The Bush years doubled our total debt and we are looking to add an equal or greater amount during the Obama years.

      It is depressing and could bring our nation to it's knees. But get it straight; this debt has been climbing at horrible rates since the 1950's.

      This chart is the most comprehensive and honest look at the debt I've seen so far: http://www.die.net/musings/national_debt/
      Looking at the total debt of all our citizens, corporations, states and local governments it adds up to an estimated 57 trillion. I'd love to see a comparison to other countries around the world.

      We'll be cursing in Chinese (per Firefly/Serenity future) by the time this settles.

    58. Pingback: Dems health care plans too costly - Page 3 - Political Forum

    59. OpenYourMindsAmerica says:

      This article is ladden with trickory of words and numbers. There are some who level the increase of spending from the 2009 budget onto our current President. We should realize that President Obama currently does not have full control of the defecit.

      First off, if we recall, President Obama did not make any changes to the 2.4 trillion dollar budget submitted by the Bush administration for 2009. Also, there has been over 2 trillion dollars given out in bailouts. Then, we can add the costs of the wars in Afghanistan and Iraq. The tab for these two wars is still increasing.

      Secondly, you have to take into account that revenue from taxes are way down. Realize this, that as jobs and businesses in America continue to go away, so does the tax dollars that are paid by workers and companies.

      The Clinton administration was the first to allow American companies to go overseas. And, I guess that this was capitalism at its best. The Bush administration took that even further by allowing large corporations to call the Cayman Islands as the business headquarters. You know, that one building on the Cayman Islands. This allowed those businesses to avoid paying tax dollars even though their profits were solely or largely attained from American citizens.

      Plus, we must remember that the Bush administration did away with "pay as you go." In fact if you were to look at graphs of how much the feds spent compared to how much was coming in, you would see that during Bush's two terms spending was "out of control" as John McCain has stated.

      Now, yes President Obama did do a $700billion bailout as well. But, that money went to states to keep teachers in the classroom and police on the streets. And, the last time I checked only 15% of it has been spent. Plus, with the economy the way it is now we are going to go through some tough times physically and mentally, so we the people will need affordable medical care in the future.

      But, most importantly, we know that our country is in a hurt. So, what are each one of us going to do about it? I challenge all Americans to try, just attempt, to go one whole month with purchasing American made only products. (Fast food restaurants do not count.) Go through your dresser and closets and see how many of your clothes from American designers are from America.

      We can blame one president or the other, but presidents come and go. Yet we continue to look at every other possibility or faults except our own. In the past and currently we rely on someone, some company, or something else to do things that we can do for ourselves. Start your own vegetable garden, make that Sunday dress yourself, set-up solar panels, stop trying to heat and cool your whole house, heck stop buying these big homes that costs so much in resources to maintain. I have always said that the bigger the house the more stuff it takes to fill it. Stop avoiding family and work together.

    60. Pingback: Ronald Reagan vs. Barrack Obama

    61. Rob Andover says:

      Subject: National Debt

      I have studied this subject very deeply. Even Macro economic Professors are confused. The general gist of the situation is that at this point and for quite a while it doesn't matter what party is in power. The financial state of the US is in the hands of private individuals that control the federal reserve. The plan is to continue to inflate the economy until the system is at the brink of collapse. Then then the UN in the form of European banking will step in and offer us a solution that we cant refuse. That is to join the one world economy. They will Ameros american currency at equal value as the Euro. Everyone with think Oh what a saving grace! But it will be a knife in the back because then we will be controlled economically by a power that is not our own. It will bleed it's way into the social structures and the laws and before you know it we have world wide pseudo-socialism. Unfortunately this is not conspiracy theory. I wish it was.

      About the only economic alternative would be for us "the US" to:

      1) Take ownership and control of the Federal Reserve

      2) Cancel all debt owed to the federal reserve ( a reduction of 45% of deficits)

      3) Hunt down the corporations that have profited from this exploitation and take ownership of them.

      4) Pay down the remaining debt with the proceeds obtained.

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    64. H Simpson says:

      5.8 Trillion national dept as of 2008? Sounds like you forgot the other 5 Trillion. It was over 10.5 Trillion as of 2008.

    65. Glenn says:

      When George W Bush Left office the National Debt was 10 trillion dollars according to the OMB. Your article is misleading.

    66. greg , boca raton, f says:

      why doesnt anyone mention that every president since Truman has paid down the debt except for 3: Reagan, Bush 41 and Bush 43. Those 3 presidents took the debt from 780 Billion in 1981 to 11 Trillion in 2009. The Republicans are the masters of spin. They are telling the nation that Obama is spending us into the hole, when Reagan and the Bushes put us in this mess. Couple that with the unemployment figures of 10.8% after Reagan's first year, and you have a story Sean Hannity would never touch!

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    69. Dan Littleton CO says:

      Checked out the comments left by others. Turns out that they are factual. Why do you lie?

    70. George Fulmore says:

      For a "new" idea on what really puts our country into debt and has for decades, go to this link: http://www.warresisters.org/pages/piechart.htm
      We spend more on our wars and our military commitments than all the other countries in the world, combined. And yet we now live in a world of globalization, where anyone can sell anything to anyone. Our economy has one hand behind it back because of the debt burden, annual and total, from our wars and our military commitments. When are we going to wake up to this reality?????

    71. Pingback: Can the US afford socialized medicine? - Page 3 - Religious Education Forum

    72. Cletus, Louisville says:

      I agree, the article is misleading.. The total Federal debt rose by 4.3 trillion during the Bush years to 10.5 trillion.

      The growth in debt under Obama has been 2.4 trillion so far, most of it due to the Bush initiated bank bailouts that Obama continued.

      But rather than cast blame, we need to understand what it takes to solve the problem.

      78 million Americans will be eligible for Medicare benefits over the next 30 years, which will be the primary cause for a projected 45 trillion dollar Federal debt over that period.

      That can't be allowed to happen! (Think runaway inflation, deteriorating infrastructure, high unemployment.. Basically Detroit on a national scale)

      To fund it through tax increases would require doubling the tax rates of everyone, individuals of all income brackets and corporations. Starting now.

      To fund it through spending cuts means cutting Medicare spending in half, along with deep cuts in Military and domestic spending.

      Pick your poison. Personally, I think a combination of phased in spending cuts and tax increases is the best of our bad options.

      But understand this clearly! Absorb it. We will either make these difficult decisions on our terms, or the rest of the world will. I prefer it to be on our terms, and the sooner the better.

    73. McCall, Okanogan, Wa says:

      The national debt has increased more under the republican administrations than under the democrats. The dem. are usually elected when the econamy has been tanked by the republicans. LOOK IT UP!!! Go back to FDRs time in office or even earlier if you so choose.

      The republican party cuts taxes to the rich but spends beyound the tax base which increases the debt. The democrats may increase the tax but they do decrease the national debt AFTER cleaning up the mess left by the previous administration or atleast not increase it as much.

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    75. Ed Russell Carmel, IN says:

      From the time when we began to grow the debt—first through Reagan years then through the Bush era– the numbers of people moving into poverty increased, the middle class shrank and the wealthy concentrated more of the nation’s wealth into their hands. I have nothing against success and successful people but in this case it was the very policies which generated the debt that also redistributed the wealth. The debt from those years is an obligation that appears to rightfully belong to the wealthy.
      The one solution thathas been overlooked is a surtax on the wealthy specifically designed to pay the debt over a specified number of years. It’s the pragmatic thing to do because the wealthy are the ones with the money; it’s also the fair thing to do.
      Those who should NOT have to pay this rich man’s debt are my children or my grandchildren or the aged or the poor.

    76. George Fulmore says:

      What's with the graphic? When President Obama took over in January 2009, the federal debt was at $10.6 trillion, up from $5.7 trillion when George W. Bush took over in 2001. The graph is wrong with it's numbers in the 2008-2010 range. Is that intentional? Is the point to purposely mislead, misinform?

    77. Bob, Ma says:

      Where were all of the comments when Bush was taking a tax surplus and turning it in to the largest debt in history? Obama inherited a recession that none of us have seen since the great depression. He had to try something. Forclosures were at and all time high and unemployment was on the rise. Obam's deficit is tied directly to the recession. When he has to keep extending unemployment benifits as well as fund 2 wars that he did not start then I think he earns a pass. Remember with so many people out of work we are also taking in less tax revenue.Things have to get worse before they get better when you are in the mess Obama was left. Would McCain/Palin have done any better? Doubt it! The Republican failed policies have put us here!

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