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12-14-2015 08:07 PM |
Quote:
Posted by Guest
(Post 1158569)
The Obama administration will have doubled the national debt by the time he leaves office. He is only a trillion bucks away now and there is no way he is going to keep it below that by 9/30/2017.
After Obama took office in Jan 2009 and giving him the benefit of not counting anything before 9/30/2009 against him, the national debt was $11,909,829,003,511.75
The national debt on 12/10/2015 was $18,762,069,058,578.88 and counting. Very near $19 trillion today. Obama is responsible for the debt through 9/20/2017 so please explain to me how he is going to avoid that stigma of doubling the national debt?
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The graph that I put up showed that Obama hasn't increased spending more than the past four presidents combined. Spending and increasing national debt are two different things. There was no mention of increasing national debt in the post that I responded too. Obama's spending practices are not out of control as shown by the graph.
Concerning doubling the national debt, we have spin that bottle many times here. Presidents do not have control of the economy. They have little affect on the economy, because they can't force businesses to do anything.
Obama has instituted several programs that have increased the national debt, but these programs are not the cause of doubling the national debt. The ACA, and extending unemployment to 99 weeks are two. I have never blamed "W" for the great recession, but the great recession, and production jobs leaving the country had a lot to do with the increase of national debt under Obama.
The blame game for the increase in national debt just doesn't fly. The Republican candidates for president income tax reform are based upon a large increase in GNP. If this increase in the GNP doesn't happen, the national debt will skyrocket, because tax collections will go down.
Concerning Obama's legacy, doubling the national debt won't be held against him to the extent Republicans think. The bigger problem against him will be the extremes both parties have taken during his presidency. Whether he is to be blamed for this only time will tell.
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