Last Updated:October 1 @ 07:56 am

Just look at all that Obama Debt

By Bobby Eberle

Any of us with a liberal friend has heard him or her begin a left-wing rant with the phrase, "After 8 years of George W. Bush..." Whenever I hear those words, my eyes immediately begin to go blank, and the person's voice blurs into background noise. These people seldom know what they are talking about, but the sound bite makes them feel good. Here are some debt facts to share with your liberal friend that show that three years of Barack Obama is a whole lot worse.

As reported by CBS News, the debt amassed during the George W. Bush presidency has now been eclipsed by the debt generated in the Obama presidency.


Credit: CBS News

Of course, Bush did it in eight years. Obama has done it in three years and two months.

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.

Mr. Obama has been quick to blame his predecessor for the soaring Debt, saying Mr. Bush paid for two wars and a Medicare prescription drug program with borrowed funds.

According to the CBS News story, if Obama were to get reelected, his own budget predictions show that "the national debt will top $20 trillion in 2016," which is almost double the debt he "inherited."

On Sunday, Senate Republican Leader Mitch McConnell didn't mince words regarding Obama and the debt, saying that Obama "needs to become an adult" on this issue. As noted in a Newsmax.com report, McConnell noted, "We have a debt now bigger than our economy. That alone makes us look a lot like Greece."

"Without presidential leadership, nothing can be accomplished," McConnell said. "We didn't have presidential leadership last year. It's pretty clear the president's not going to lead on this anytime soon."

He said the Democratic Party isn't taking the debt crisis seriously.

Eight years of George W. Bush versus three years of Barack Obama. Just imagine what mess the next president will "inherit."

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29 Comments

  1. RWComment by RW
    May 21, 2012 @ 8:51 am

    And of course, when either one of us, Dr. E, comes out of our “But that Damned Bush” induced coma, the last thing we hear flung at us is, “The only reason you don’t like obama is because yer a racist Republican, THAT’S the problem!”

    Bush was soundly trounced on his amnesty for illegal Mexican immigrants, the process/system worked. He understood our government’s checks and balances. What these obama supporters refuse to understand is that obama has consistently and publicly bypassed Congress and the Supreme Court. From writing over 300 millions dollars of checks to Hamas/Palestine to Obamacare to Solyndra and Fast and Furious, obama and his minions simply do as they wish.

    Bush administered via a do-nothing Congress, but obama DICTATES, reigns by FIAT.

    And his blind followers don’t realize that the day will come, that if he is re-elected, he and his minions will come for them AND us.

    I’m no racist, and neither are you, Dr. Eberle, we are simply realists.

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    • anangrygrammaComment by anangrygramma
      May 21, 2012 @ 12:15 pm

      RW…you state that “obama and his minions simply do as they wish.” I agree, but also have to ask…when will Congress stop allowing it? When do they stop allowing this trampling of our Constitution? When do they finally come out and do something about this impostor?

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    • RWComment by RW
      May 21, 2012 @ 1:26 pm

      Gramma,

      CONGRESS will do NOTHING. period.

      WE, here at the local and state level have to get off our collective butts, educate ourselves about our government, about the Constitution, and find and support, the people we send to Congress.

      VOTE OUT the liberals, the characters who “bring home the bacon,” and those who, like Pelosi, Reid and obama himself, who have vastly improved their wealth by being in government.

      Bring in people who want to return our country to a representative republic. People who have no intention of making yet more laws, but those who are willing to repeal obstructionist, corrupt laws and UPHOLD laws that protect personal freedom, liberty, and bring us back to what our brilliant, personally involved Founding Fathers intended.

      The vast majority of those in DC care only about themselves and getting re-elected. We must all stand up and scream, “ENOUGH! I am mad as hell, and I am NOT gonna take it any more!” And then…DO IT!

      Live free, Gramma, or die. We are dying a very slow, horrible death. Find the people who will support what America was founded to be…FOR the people, BY the people, OF the people.

      NOT for de Massa gubbmint, by de Massa gubbmint, of de Massa gubbmint.

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    • anangrygrammaComment by anangrygramma
      May 21, 2012 @ 2:52 pm

      Again I agree with you. But your reply begs the question…isn’t that what supposedly happened in 2010? Just where are all of those elected by the Tea Party. I would hardly call them strong voices for the Constitution. Making noise is hardly taking action anyway.
      Besides with rampant voter fraud, I, for one wonder if we really stand a chance anyway…remember the votes are being counted in Spain.
      I hate conspiracy theories! But I can’t help but wonder if the Repubs are just as complicit in keeping the debt high, the “secrecy” that shrouds Obama, hidden, and really, a whole lot more. America is simply not the America that I grew up with. How in the world did we end up with 80 socialist members of Congress?
      You can’t fix stupidity, & while many eyes have opened, I’m afraid not the necessary vast majority that is needed.

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    • LenaComment by Mona
      May 21, 2012 @ 2:58 pm

      Things will not change until Americans vote liberals out and conservatives into both Houses of Congress.

      One chamber can block legislation but it takes both chambers to pass it and it takes a supermajority to override Obama’s vetoes.

      It takes 67 votes in the Senate and it will take this election and the 2014 election to reach that goal, if it is possible at all.

      It takes 290 votes in the House of Representatives to override a veto.

      Voters have a lot of work to do if they want to save this country.

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  2. inluminatuoComment by inluminatuo
    May 21, 2012 @ 9:07 am

    You think this Debt is bad,,,,like he whispered to his socialist buddy Medvedev to secretly pass on to his brother in ideology Putin, “This is my last election, After my election, I have more flexibility.” To which Medvedev replied, “I understand. I will transmit this information to Vladimir”

    We ain’t seen nothing yet folks. Hold on to your wallets! You are about to be the victims of his next failed social experiment in the Obama hell’s kitchen of socialist sausage making. Does the word Guinea Pig have any meaning? We all know he has eaten Dog meat in Indonesia, who and what else is on his new American menu to be devoured. Just what do they serve and devour in the club car of his Socialist soul train to oblivion,,,,maybe your soul?

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  3. inluminatuoComment by inluminatuo
    May 21, 2012 @ 9:36 am

    Obama lied, the economy died

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    • MattNComment by MattN
      May 22, 2012 @ 10:29 am

      I like that. Sounds kinda like something that was said during the Bush presidency by the Liberals.

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  4. Dingbat36Comment by Dingbat36
    May 21, 2012 @ 9:45 am

    All the Democrats are going to have a huge problem before this election cycle is over. I see them all falling over and being unable to get up………all because they “DON’T HAVE A LEG TO STAND ON”!

    Please stay down there on the floor and let the grown-ups take care of the mess you “me, my, mine” people have made!

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    • stymied4sureComment by stymied4sure
      May 22, 2012 @ 1:00 pm

      As long as there are people out there looking for the pie in the sky, they don’t need a leg to stand on. They can do no wrong, just keep those checks and entitlements coming in! Plus, who do you get to replace them? Think about it, it is really a scary situation with the mentality that it is always someone else’s fault, no accountablility.

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  5. middlegroundComment by middleground
    May 21, 2012 @ 11:28 am

    I find the lies and spin of the media appalling. When you graph the spending Bush spent a lot and dropped interest rates to recover our economy from the shock of 9/11, but the spending was decreasing until 2009 when the Pelosi-Obama=Reid team took over spending. Spending went ballistic and deficits shot up a trillion a year with no thought of reducing spending for non-productive activities and no consideration that the rate of spending was unsustainable without an improving economy and more jobs.

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    • pistol packing mamaComment by txgoatlady
      May 21, 2012 @ 11:42 am

      So true. I was wishing the graph went back a bit further and showed the difference after the Democrats got control of the House and Senate in 2006. Unfortunately, we are lucky enough that CBC even produced a graph showing how much Obama has increased the debt in his one term. They don’t want to make Nancy and Harry look bad, after all.

      Oh, and let’s not forget that Obama decided we needed to fight 3 wars on borrowed money because 2 just wasn’t enough. And Obamacare is going to be much more expensive than the Medicare prescription drug program (which most conservatives disagreed with Bush over anyway).

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    • Oregon JeffComment by Oregon Jeff
      May 22, 2012 @ 10:44 am

      Um, txgoatlady, Obama hasn’t started any wars. The wars in Iraq and Afghanistan came from Bush. Obama ended the war in Iraq. He is ending the war in Afghanistan. What exactly is your beef?

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  6. dthur1003Comment by dthur1003
    May 21, 2012 @ 12:06 pm

    I saw a cartoon that said it all…”Re-Electing Obama would be equivalent to the Titanic backing up and hitting the iceberg again !

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  7. Pingback: Not quite doubled yet - but headed that way at a record pace!

  8. 19lrae33Comment by 19lrae33
    May 21, 2012 @ 1:22 pm

    President Bush had two all out wars along with several hurricane disasters, including Katrina. Of course the worst liberty threatening event of all, 911, is still taking it’s toll on our way of life and no one has even mentioned trying to get back to normal(pre – 911). The cost of all that over eight years and the same cost over the last three does not make sense.

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    • middlegroundComment by middleground
      May 21, 2012 @ 3:40 pm

      Perhaps the real attack of 9/11 was based on the knowledge of how we would react to the destruction of the twin towers. Bush went after the fertile soil of terrorism in Afghanistan and his opponents tried to paint this as a personal vendetta of Bush against the Muslims of Iraq, even though Congress had given him permission to attack the terrorists responsible where ever they resided. If we’d allowed similar media bias in earlier wars, we’d have had Wilson’s War, Roosevelt’s War, Truman’s War and Johnson’s War with all of them many times larger by far than Bush’s War and all begun under Democrats. Get real! All these wars were declared by Congress at the request of the president. The Libyan war was the first war begun by a president without Congress’s approval and without knowing who we were supporting or why.

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  9. RightStuffComment by RightStuff
    May 21, 2012 @ 1:39 pm

    Mitch McConnell’s statement about Obama becoming an adult is both funny, and sad. The sad part is that Obama can’t be an adult, because he damaged his young brain when he was an “enthusiastic” drug abuser. (See his books.) What comes from drug abuse at an early age is permanent arrested maturity. There is no cure. You see it all the time. Look around, and when you see someone who will admit to youthful drug abuse, you will find someone who is still living their “wow” stage of life when they were experiencing their drug highs. That is what we have as a president in Barack Obama.

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  10. wolfComment by wolf
    May 21, 2012 @ 3:33 pm

    The biggest difference in the debt from Bush and the debt from Obama is…..”fix, repair, and updates” vs “hope, change, and liberal gambling”.

    Bush Debt:
    9/11 – Billions spent to repair NY, PN and DC. TSA creation (*****, but was needed at the time), Homeland Security was needed initially (but has turned into a mess), and airline and transportation recovery costs.

    Katrina – Billions to rescue lives, house people, start-up money, repairs and rebuilding in four States.

    Middle East – costs to remove Taliban and costs to remove Hussain and start a shaky democracy.

    Prescription Drug Program – certainly helping poor citizens but is a financial crapshoot.

    Obama Debt:

    Union bailouts – did nothing for regular taxpaying citizens
    Auto bailouts – did nothing for regular taxpaying citizens
    Bank Bailouts – did nothing for regular taxpaying citizens
    Green Projects – Gambled on Pet projects and lost billions
    Stimulus 1 of $900 Billion – regular citizens got nothing as this was simply a payback to Obama supporters

    Of the debt from both Presidents…which is still contributing to society and which was simply paybacks to individuals and has gained us nothing?

    Hmmmm….just saying.

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  11. cxComment by genesal
    May 21, 2012 @ 3:42 pm

    It will take a miracle to recover from the economic disaster that Obama has unleashed and now Obama’s taunting Europe to follow the same footsteps. Somebody must be distributing a ‘stupid drug’ to the world inhabitants!

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  12. VoiceOfReasonComment by VoiceOfReason
    May 21, 2012 @ 4:38 pm

    I would like to see the graph starting at 2005 so we could see how the debt was increasing under the last two years of Republican control of the Senate and the House and then see how the debt began growing during the Bush administration once Reid and Pelosi took over in 2007. I’ll bet that the biggest chunk of debt during the Bush years was incurred beginning in 2007.

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  13. Spiritof76Comment by Spiritof76
    May 21, 2012 @ 5:50 pm

    Sen. McConnel is right but he was the one that said last time when the debt ceiling came up that Congress should let the president set the limit. We have a weak Republican leadership that hardly articulates outside the beltway and no body hears them. Is Mr. McConnell say to the president today that he will not agree to any debt limit deal unless there is a two for one deficit reduction immediately? For every increase in debt ceiling dollar, there will be a two-dollar reduction in the current(not ten years from now) spending. Will he file legislation to defund 2/3rds of the agencies and departments? He must preempt the chief lier in the WH by saying that we want to assure Medicare and SS payments by cutting out the federal agencies and departments. I am not holding my breath.

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    • MattNComment by MattN
      May 22, 2012 @ 10:38 am

      Why should we even talk about increasing the debt ceiling? If they spend less — we are under the ceiling and shouldn’t have to raise it. If they won’t cut spending — we don’t raise the ceiling. Case closed.

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  14. retiredmarinepilotComment by retiredmarinepilot
    May 21, 2012 @ 6:34 pm

    Conservatives had better show up at the poles in numbers when the liberals start bringing the blacks and the dead in by the bus loads.

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  15. JDZComment by JDZ
    May 21, 2012 @ 7:16 pm

    What is not totally shown in the national debt graph are the trillions due to unpaid money borrowed through the sale of bonds and treasury notes, etc. which currently require $400 Billion per year just to pay the annual servicing of this debt. The interest rates are the lowest in the last 50 years but will eventually go up to market traditinal market values which will cause a step level increase in the national debt. The financial liability looking forward of SS, Medicare, Medicaid, welfare, food stamps, and now the healthcare legislation when consolidated is in the hundreds of trillions and growing as well. Our government has basically created this mess and it keeps getting passed forward by each administration and Congress to the next one. Obama has just made it worse in a shorter period of time then all prior Presidents combined.

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    • stymied4sureComment by stymied4sure
      May 22, 2012 @ 11:54 am

      If you were to put a democrat and a republican in a bag, shake it up and empty it out, could you tell a difference? They each have had a shot at control of either the House or Senate and where have they gone with it? If one puts a bill on the floor, the other stops it somehow and visa versa. Where do we begin to look for someone who will stand for what is right and as good for all as can be? The “entitlement” programs such as social security and medicare are not entitle-ments at all. We, the workers, have paid into and are hoping to receive from one day. But thanks to good ole’ Lyndon B., those funds were redistributed so the other greedy hogs could blow it as fast as possible. Now where do those who are depending on a return for the “golden years” turn to? The cost of living is so far out of control that there is no way to save enough to live on if you retire. How will the seniors who are on social security and medicare live if that is their sole source of income and it is done away with? The jobs are few and far between but the seniors can’t give up what they have to allow the younger ones to move into them because of loss of insurance as well as the income. Yet, there is always money to send to foreign aid and support the illegals as well as our multi-generation welfare recipients.
      How can that be?
      When we have had disasters in America, how many times has other countries reached out to help us? And to top it off, when we have given to others much more than we had to give, they act like we have insulted them somehow and treat us like dirt. Depending on which network you watch on tv, there are always needs at home, America, but they are not addressed. Oh no, we have to send it abroad. And that is why?????

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    • anangrygrammaComment by anangrygramma
      May 22, 2012 @ 12:40 pm

      Part of my point above stymie…the dems & repubs being complicit.
      Our sole income, was my hubby’s & he lost his job in early Oct. He is 61, can’t retire. He is also a vet with heart problems & an aggressive prostate cancer that was treated a yr. ago. No health insurance for the 1st time in our married lives, 41 yrs. in July. He is on a long waiting list for medical care with the vets, & told because he is not a priority. At my age, 57, I am told there is nothing but free clinics, with appt.’s more than 2 mos. out. They tell me to go on SSI. Approval for that usually takes a yr., and because of damage from a car accident, I too have several medical needs. My husband has sent resumes to probably 75 employers since Oct., but there is very definitely age discrimination out there, just no way to prove it. Our youngest, 24 yrs. old, can’t find a job to save his life.
      Yep, every country in the world needs our $$. We are the “entitled ones.”
      Do I trust any prez to really change what needs changing in this country? Not on anyone’s life!
      There are some people on here that really need to think before they “post” too. Walk a mile in another man’s shoes…

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  16. bsme264Comment by bsme264
    May 22, 2012 @ 3:45 am

    Here are the numbers for federal spending from year to year and the % increases per year:

    Trillions
    1998 1.7
    1999 1.7 0.00%
    2000 1.8 5.88%
    2001 1.9 5.56%
    2002 2 5.26%
    2003 2.2 10.00%
    2004 2.3 4.55%
    2005 2.5 8.70%
    2006 2.7 8.00%
    2007 2.7 0.00%
    2008 3 11.11%
    2009 3.5 16.67%
    2010 3.5 0.00%
    2011 3.6 2.86%
    2012 3.8 5.56%

    One should also remember that we had budget SURPLUSes up until 2008 thanks to Newt and his gang…

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    • stymied4sureComment by stymied4sure
      May 22, 2012 @ 12:57 pm

      Budget surpluses? Then why wasn’t the budget balanced? There may have been surpluses in specific line items but overall budget? How could that be? That would mean that the government folk spent NO MORE than was budgeted for and that the revenues were there to cover the expenses. And that happened when? If that were so, then the big O has pulled us down even further into the rat hole than we imagined.

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  17. stymied4sureComment by stymied4sure
    May 22, 2012 @ 1:22 pm

    My heart goes out to “anangrygrama’s” plight. We have gotten so far removed from caring about each other its a crying shame. But as you are saying about your situation, we can all look forward to a lot of that if obamacare is instituted. Also the fact that your husband is a vet should account for something. What part of O’s plans for our future don’t we understand? Do we think for one minute that our well being is even an objective let alone a major one? We are the least of his worries. He has blown so much smoke out there that the air will probably never clear. But it will be a lot clearer if we once again DEMAND our politicians be accountable or pay the penalty for not being. When, not if, they break the law, they are even more severly dealt with. Their positions are a duty to the constituants they represent not a pocket-lining entitlement to everything that is not nailed down. If they are not there for that reason, then save themselves and us a lot of headaches and just don’t get into the political arena. An in the limelight career of thievery shouldn’t be a celebrated event with benefits as is today. But until that changes, they are not going to change.

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