The king is dead, long love the king
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They why was the debt $10.7T when Bush left office and $19.9T when Obama left?
"Based on quarterly data released by the US Treasury, the debt at the end of 2008 — just before Obama took office — stood at roughly $10,699,805,000,000.
As of the third quarter of 2016, the most recent data available, the debt as Obama is set to leave office stood at $19,573,445,000,000.
Based on the website USdebtclock.com, which extrapolates the US national debt in real time based on committed government spending, the debt will be roughly $19.97 trillion when President-elect Donald Trump takes office on Friday.
Thus, the national debt under Obama will have grown by about $9 trillion, or an increase of 86%."
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They why was the debt $10.7T when Bush left office and $19.9T when Obama left?
"Based on quarterly data released by the US Treasury, the debt at the end of 2008 — just before Obama took office — stood at roughly $10,699,805,000,000.
As of the third quarter of 2016, the most recent data available, the debt as Obama is set to leave office stood at $19,573,445,000,000.
Based on the website USdebtclock.com, which extrapolates the US national debt in real time based on committed government spending, the debt will be roughly $19.97 trillion when President-elect Donald Trump takes office on Friday.
Thus, the national debt under Obama will have grown by about $9 trillion, or an increase of 86%."
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Which is total bullshit. Had it not been for the pandemic he would have added about $2T.
Please. You're better than this.
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I didn’t think this would be a contentious point.
Why is Trump’s debt (pre-coronavirus) higher than Obama’s second term?
That’s insanity given the state of the economy.
EDIT: and to clarify, I “blame” Trump and Obama less for the debt accumulation under their term than most. Presidents do have lots of influence - but macro environment and congress are usually bigger drivers.
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Obama averaged a little over $1T a year, front loaded because of the financial crisis (last couple of years were in the half trillion neighborhood)
Trump was supposed to be greater than $1T this year pre-covid.
CBO was projecting >$1T deficits all the way to to 2030 pre-covid.
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Don't forget to factor in all the money it took to rebuild things that Obama had decimatef.. like our military.
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So a trillion here, a trillion there.
When I wake up in the morning, nothing has changed.Two trillion here, two trillion there.
Same. No refund stuff, they won't let me drive an aircraft carrier, taxes went down, import tax went up, shipping costs doubled.Three trillion here, three trillion there.
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I was kind of laugh to myself with this discussion here.
@Mik I respect your posts, but the President is the President in good times and in bad. If a person is going to make a comparison like @xenon did over a specific time frame (for example in this case, the first four years of Presdients time), you have to accept all that happened in that specific time frame.
IF President Trump didn't have the pandemic
IF President Bush didn't have the Great Recession
IF President Obama didn't have the housing crisis
IF IF IFWell,those things happened. PERIOD. There is not IF.
This is common to both republics and democrats. The theme for both sides is "we would have been the best President/party EVER IF this didn't happen."
But it did, and they have to accept responsibility!!
I respect the President Truman who had the sign on his desk - "The Buck Stops Here!" I think (sadly) that both sides seem to have forgotten that.
If something bad happens during your sides period in office, it is not their fault and should be overlooked. If something bad happens during the other sides period in ofice, they need to accept responsibility. LOL
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TG, you really have to come over here and be president. Really, you really, really do. Rainman said he'd get you around the not-born-here thing in the Constitution, and I believe him.
Success is measured by your discipline and inner peace. – Mike Ditka
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@Mik said in The king is dead, long love the king:
Look here, TG...it's FATHERS DAY...YOU don't get to make the rules.
