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originally posted by: marg6043
a reply to: SeekingAlpha
Actually if you look at the financial situation of this nation, we are at a point of no return, Obama ballooned the deficit just like all his predecessors, and that tells you that no candidate regardless of party lines can fix what is already unfixable.
For the once greatest nation in the world financially and wealthy (at least for those that control the economy) the only way to give back power to the people in the ways of finances is with a historical civil war.
America is been controlled by big money and is not money that comes from the voters, tax payers and legal citizens.
Obama's Budget Deficits
However, it's a little misleading to hold Obama (or any other President) accountable for the deficit incurred during his first year of office. That's because the federal budget for that fiscal year was already set by the prior Administration. President Bush's last budget (FY 2009) created a deficit of $1.16 trillion after subtracting the spending on the Economic Stimulus Act. Most of this addition to the debt occurred after the new President took office, and so should not be attributed to Obama.
• FY 2009 - Although this was President Bush's last budget, it was implemented during Obama's first year. Congress agreed to add the first year's worth of spending from the Economic Stimulus Act to this. That $253 billion accrues to Obama.
• FY 2010 - Obama's first budget created a $1.587 trillion deficit, the largest in history.
• FY 2011 - It contributed $1.3 trillion to the debt.
• FY 2012 - The deficit was $1.087 trillion.
• FY 2013 - This was the first Obama budget where the deficit, $679 billion, was less than $1 trillion. Thank sequestration, which forced a 10% cut in spending.
• FY 2014 - The deficit was $485 billion.
• FY 2015 - The deficit fell further, to $438 billion.
• FY 2016 - The deficit is projected to be $616 billion
• Current Budget - The deficit is projected to be $503 billion.
When the deficits from all these budgets are added together, President Obama increased the debt by $6.695 trillion.
She will destroy this nation if elected
originally posted by: ChesterJohn
a reply to: SeekingAlpha
Obama increased the nation debt more than all other presidents combined before him. Sorry but you can't blame Bush any more.