Obama's Legacy

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saywhatkid said:
One thing that stands out; Republicans are far more guilty of increasing the debt than Democrats. I always hear what a loser Carter was, but Reagan increased the debt 6-fold from Carter (I realize Reagan had 2 terms, but still). Granted that Obama has spent far more in his first term, but he inherited a much worse scenario than his predecessors. Not that I like what he has done, but this chart, if intended to paint Liberals as the main source of the debt, has actually backfired a bit.
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The reason Republicans (usually) have a history of increasing more debt than Democrats is because of tax cuts.
 
I found a nicer source that addresses this argument and it's on the wiki of all things. It calculates and uses the White House BUDGET OF THE UNITED STATES GOVERNMENT release provided by whitehouse.gov (see sources at the end of the page for clarity)

National debt by U.S. presidential terms - Wikipedia, the free encyclopedia

See the figures that proceed after Federal spending, federal debt, and GDP, in this case, it's not as humongous as Obama's "humongous" 28.86% figure looks - it's accounted for inflation.
 
naisho said:
I found a nicer source that addresses this argument and it's on the wiki of all things. It calculates and uses the White House BUDGET OF THE UNITED STATES GOVERNMENT release provided by whitehouse.gov (see sources at the end of the page for clarity)

National debt by U.S. presidential terms - Wikipedia, the free encyclopedia

See the figures that proceed after Federal spending, federal debt, and GDP, in this case, it's not as humongous as Obama's "humongous" 28.86% figure looks - it's accounted for inflation.
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But Bush, with his 2 terms was a 27.8% increase. His dad with a 13% increase and Regan with a 20.6% increase.
 
Sunshine said:
Seriously?!?!?!? I thought they father, son! Are they related?
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Yeah, they are father and son, but Dub-ya is not a junior. His name is not an exact replica of his father's.
 
Yet, as I have said before that Congress has a spending problem, both parties. With Obama on track with his spending and if a two termer then his would make all the other presidents pale in comparison.
 
rolling7 said:
Bush, Sr. (1989-93) $1.49 trillion
Bush, Jr. (2001-09) $4.90 trillion
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I suppose there must be a conspiracy theory that W must be HW taking some youth-enchancing potions. :lol:
 
kokonut said:
Yet, as I have said before that Congress has a spending problem, both parties. With Obama on track with his spending and if a two termer then his would make all the other presidents pale in comparison.
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Where'd you get that crystal ball? He is significantly under Regan's numbers for even one term. And way below Dub-ya's 2 term numbers.
 
naisho said:
I suppose there must be a conspiracy theory that W must be HW taking some youth-enchancing potions. :lol:
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Well, that would be in Obama's territory since he's Bush-lite now.
 
rolling7 said:
Source: U.S. Department of the Treasury, U.S.Federal Reserve Archival System for Economic Research

Commanders-In-Debt
Federal debt accumulated by presidency

Reagan (1981-89) $1.76 trillion

Bush, Sr. (1989-93) $1.49 trillion

Clinton (1993-2001) $1.54 trillion

Bush, Jr. (2001-09) $4.90 trillion

Obama (2009-present) $4.31 trillion

In three years time, Obama is within 85% of the highest and most enormous
debt accumulated by any president in history. When 2012 election comes around, he will have the top spot for sure. This will be his legacy. Should he be re-elected,
he will be on track to accumulate an estimated $8 trillion dollars debt.
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And, the reason for this? It's because each republican presidents left the economy in worst shape. Clinton inherited the recession of the early 90's, but that is small potatoes compared to what Obama inherited. In truth, Obama is conservative because it actually takes more money to get out of the hole which we currently reside. And, he's doing it with less money than the person who created it.
 
jillio said:
Where'd you get that crystal ball? He is significantly under Regan's numbers for even one term. And way below Dub-ya's 2 term numbers.
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I think koko should get a refund on his crystal ball.
 
naisho said:
This one that I was found was yesterday in the Houston Chronicle, Nov 19th 2011, page 6 (A6).
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Correct.

Who cares about inflation! Debt is debt for anyone and we are deeper in debt than anytime in history.
 
VacationGuy234 said:
And, the reason for this? It's because each republican presidents left the economy in worst shape. Clinton inherited the recession of the early 90's, but that is small potatoes compared to what Obama inherited. In truth, Obama is conservative because it actually takes more money to get out of the hole which we currently reside. And, he's doing it with less money than the person who created it.
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Kind of like getting more credit cards and use them to help pay off other previous credit cards debts? And repeat that indefinitely?

Rather an insane thing to do.
 
For those not from Texas, we do refer to the Bush as Sr.and Jr.in Asl, most of the hearing use 41 and 43.
 
rolling7 said:
Correct.

Who cares about inflation! Debt is debt for anyone and we are deeper in debt than anytime in history.
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Why did some one else have to dig your actual source up and then point out the errors in the figures?:laugh2:
 
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