According to the official *.gov website, the publicly-held debt during President Bush’s eight-year term in office increased by about $2,969,254,680,319.93 – just shy of three trillion dollars (and you might as well round up, given that its numbers only started in late September of 2001). According to the “liberals” of his time, this was indicative of out-of-control spending, gratuitous waste, and a host of other economic sins, errors, and unforgiveable acts.
According to that same website, President Barack Hussein Obama’s first year in office has seen the publicly-held debt increase by $1,507,078,452,034.64 – over half of what President Bush saw in eight years. To be certain, some of that spending is due to a continuation of President Bush’s plans and actions, but how is it that such spending is inherently evil when Bush’s name is attached to it, but somehow forgiveable when Obama’s name is on it?
Even worse, the CBO is projecting this year’s deficit to be $1.35 trillion, and we are well and truly outside of the “Blame Bush” window at this point.
Assuming we take those two datapoints and project another two from them (a horrible idea, but it is quick and simple), the 2011 deficit will be $1.19 trillion, and the 2012 deficit will be $1.03 trillion (again, we are estimating, projecting, and making numbers pretty much out of thin air – after all, there is every indication that the deficits will increase over time), leaving us with a four-year total of $5.08 trillion.
5,080,000,000,000.00 dollars, in four years.
President Barack Hussein Obama’s deficit will be 71% bigger than President Bush’s, in half the time (so, really, 142% bigger). On a personal level, assuming an average US population of 310,000,000 in the next three years, my back-of-the-napkin projection of President Barack Hussein Obama’s deficit will result in every man, woman, and child in our country owing $16,387.10, each – that is more than a semester of education at my alma mater, Georgia Tech, would cost for out-of-state students.
So how is it that President Bush gets castigated (and no-doubt castrated in the minds of certain “liberals“) over his spending, while President Barack Hussein Obama is congratulated and encouraged for his nearly-150%-greater spending? Where is the spittle-flecked outrage from the standard sources over out-of-control government spending? Where is the damnation for driving our deficit into the ground, the crust, and the mantle beneath? Where are the condenmnations, the demonizations, the diatribes… any of it?
*crickets chirp*
Yeah, that is kind of what I thought. The “Blame Bush” window has closed – Our Glorious President owns his actions, his mistakes, and his inactions, and he has been owning them for quite a few months now. And one thing he is going to own for as long as people have the ability to say it is the fact that he drove this country into a gaping hole of debt the likes of which it has never seen before.
Way to go, BarryO.
(Thanks to TaxingTennessee for pointing this situation out.)









Even worse when you consider that 47% of the 7 year bonds sold in the latter part of last year were bought by the FED. Meaning that we are now monetizing the debt.
When a government can’t borrow enough money, it begins to print its way out of the mess, and hyperinflation is soon to follow.
http://caps.fool.com/Blogs/ViewPost.aspx?bpid=243011&t=01009422382365168345
Erf. Try not to remind me… It seems as though our government is following textbook examples of how to make our financial situation worse, and doing so with a song in their hearts…
“It’s not fiscally irresponsible when WE do it!” – The DNC
If that were the only thing the Democrats had that attitude over, then I would have a significantly smaller problem with them. Unfortunately, that attitude pervades every gorramed thing they ever do. *sigh*