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Originally Posted by Guest
As usual, the Fox News watchers have it wrong. Obama's policies contributed 983 billion to the debt between 2009 and 2017. This was a result of increased military spending, The Affordable care act, tax cuts and the American Recovery and Reinvestment act which was created to stimulate the economy after the 2008 financial crisis. During Obama's terms, there was less federal income than usual. The recession and the Bush tax cuts reduced tax receipts. At the same time, the cost of Social Security, Medicare, and other mandatory programs continued to increase. The War on Terror, although technically over, was still being fought in Afghanistan and Iraq, hence increase in national debt. Trump's new set of tax cuts is expected to add over $1.46 trillion to the national debt. There is no justification for this cut. Thanks to Obama, there is almost full employment. The financial crisis was dealt with. This is a simple case of giving money to the wealthy, and increasing the national debt even more.
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There are three different ways to look at the debt increase during an administration and depending who's side you're on you'll either look at the most favorable or the most unfavorable. Like I said, even though we give the president blame or credit, debt comes from Congress spending more than they take in.
On January 20, 2009, when President Obama was sworn in, the debt was $10.626 trillion. On January 20, 2017, when he left, it was $19.947 trillion. That's almost double.
That is very simply how much the debt rose during the Obama administration. How much of that he was responsible for is a matter of discussion. Even though Congress is responsible for all of the spending the president still to sign the bills. Now a lot of different factors come into play here. Does the same party hold the Congress and the White House? Were bills passed with a clear veto-proof majority?
You can make numbers look like whatever you want, but the fact is that the debt grew almost as much in the eight years of the Obama presidency than it did for the previous two hundred and forty years of the nation.