Obama and the Debt

Posted: July 27, 2011 in Uncategorized

Some Stats-

The Economy has lost 3.5 Million Jobs under Obama’s Watch (www.bls.gov)

Obama passed a failed stimulus for over $800 Billion dollars (Which cost more than the Iraq War {$747 Billion}) that was suppose to create jobs but never did. (www.CBO.gov)

Jobs in Construction which were suppose to rise due to The American Recovery and Reinvestment Act dropped to 10 year lows (www.bls.gov)

From 2009 to 2010 Military spending went up 3% (www.defense.gov)

Defense spending is at all time highs thanks to Nation building in Afghanistan (Double the amount of troops there now, than when Obama took office), Drone strikes in Pakistan and Yemen. Missile strikes in Libya (www.defense.gov)

Under Obama we increased the amount of Foreign Aid we provide to Israel to an extra $1 Billion, which is over $6 Billion dollars a year, When Americans need the aid at home.

 

GDP Increase                                       Federal Debt Increase

2007 Bush 2.8%                                 Bush 3.6%

2008 Bush 0%                                   Bush 5.0%

2009 Bush 2.6%                                 Bush 5.5%

2010 Obama (-2.0%)                           Obama 12.5%

 

Obama has not put one plan down on paper yet because fears it will be rejected by the right and left. The CBO has been unable to review or analyze any of Obama’s plans because as they say  “We don’t estimate speeches,”

Healthcare premiums have already began to rise for people on Health insurance Thanks to Obamacare (www.CBO.gov)

National Debt when Obama took office: $10,626,877,048,913.08

National Debt Today: $14,342,841,083,049.67

Total Increase Under Obama: $3,715,964,034,136.59 (+25%)

Projected 4 year total: $5,576,453,041,696.59

Increase of Debt in Bush’s 8 years:  $4,900,685,689,328.66

 

Now, I know everyone will bite my head off and attack me and call me some Republican wing nut, but the point I am trying to make is that this whole debt crisis is pretty much both Parties(R/D) and Presidents faults (Bush/Obama). The thing that makes me sick to my stomach is how The Big O pushes all the blame towards the last guy, everyone fell for it in 2008, It was Obama vs Bush. Now Obama has followed in the footsteps of irresponsible spending, and horrible foreign policies and now owns the Economy. You are the President and you will be judge for what you do in office, not the the campaign speech’s you gave, or the promises of change you broke.

Obama is playing a game of Chicken with the Republicans in hopes to put the blame and pressure on the Republicans just in time for election. Obama and the Dems had a chance to raise the Debt ceiling when they had the Power of House and Senate and refused too. They waited for Republicans to take majority of the congress knowing that they made promises to the people who voted for them, too not raise taxes and to cut spending. Obama and Co. immediately said that they would only except a plan that involved Tax Increases, knowing that the Republicans made that promise to the voters. If Republican’s break there promise of not raising taxes and cutting spending, they will look like liars, but if they don’t compromise to Obama and Company’s demands they will be blamed for default, and not the lazy Democrats who refused to do it when they had complete control. It’s a dangerous game of politics that the Prez and Republicans are playing.

 

 

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