Obama sets record: $4,247,000,000,000 debt in just 945 days!
On Tuesday, Ed Morrissey of Hot Air wrote an article reminding readers that just three short years ago, then candidate and U.S. Senator Barack Obama called George W. Bush "unpatriotic" for adding $4 trillion in debt over his two terms in office:
He quotes Obama at the time saying:
Not only has Obama added more debt, he has provided no plans for deficit reduction and his only budget so far was so radical and extreme it got no support in the Senate whatsoever.The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.
Since becoming President, however, Obama has added more debt than Bush ever did, and he did it in less than half the time.
Morrissey adds:
And what exactly has Obama done as President? Despite claiming that he has known that deficit reduction has been needed since the first day he took office, Obama has offered no deficit reduction proposals in his term as President. In fact, he has submitted budget proposals that have massively expanded deficit spending.
Since his inauguration, Obama has done nothing but rack up more debt with feckless policies that now threaten the nation's economy.
He has done little more than blame everyone - especially President Bush - for his own failures.
Obama has so far blamed the Internet, bank ATM machines, America's "messy democracy," and Congressional leaders for the predictable results of his own actions.
Morrissey puts the icing on the cake when he concludes:
Just how patriotic is that? After all, if Obama can use the increase in the national debt to question Bush’s patriotism, doesn’t it follow that increasing deficit spending by 152% per month makes Obama 152% more “unpatriotic” than Bush?
Obama likes to say he inherited all these problems from the former President, but he forgets to add that he also inherited a AAA credit rating - something America lost thanks to the President's own policies.
Updated numbers for the national debt are just out: It’s now $14,639,000,000,000.
When Barack Obama took the oath of office twice on Jan. 20, 2009, CBS’ amazing number cruncher Mark Knoller reports, the national debt was $10,626,000,000,000.
That means the debt that our federal government owes a whole lot of somebodies including China has increased $4,247,000,000,000 in just 945 days. That’s the fastest increase under any president ever.
Obama is saying yes, we can get control of the national debt. But ominously every time he says that he adds that trillions of dollars in infrastructure repairs are badly needed across the country. And with interest rates so low, according to the thinking on Obama’s planet, now is an excellent time to borrow even more money.
[source]
