Treasury: Under Obama, U.S Gov't Debt Held by Public Up 90%

Under Obama, U.S Gov't Debt Held by Public Up 90%

Very alarming indeed.

Just *What* have the Democrats been binge spending all that money on ?

No wonder they are throwing things out of windows and setting garbage cans on fire !!

[ not to mention all the silly name calling ]

The U.S. Treasury released its last Daily Treasury Statement for fiscal 2013 yesterday afternoon, revealing that during the presidency of Barack Obama the U.S. government debt held by the public has increased 90 percent.

At the close of business on Jan. 20, 2009, the day Obama was inaugurated, the U.S. government debt held by the public was $6,307,311,000,000, according to the Daily Treasury Statement for that day.

At the close of business on Sept. 30, 2013—the last day of fiscal 2013—the Daily Treasury Statement said the U.S. government debt held by the public was $11,976,279,000,000.

Treasury: Under Obama, U.S Gov't Debt Held by Public Up 90%


YIKES !!!!!!!

And this one shows *WHO* was in Congress !!!!

are you implying that dear leader can do wrong?



*this is shill 17033934 charlie, calling HQ, we need a position fix on ATS poster xuenchen, prepare to deploy the 'the death is not being treated as suspicious' team ASAP.

And he isn't planning to stop the spending anytime soon either.. He has just made a statement that he is exasperated with republicans for not letting him be a total dictator since they won't allow him to raise the debt ceiling and allow the HC law with no strings attached..

Obama has really flipped his wig now people.. He thinks he is Fidel Castro... Soon
America will resemble Pol Pot's Cambodia.

Your charts are off. 09 is Bush not Obama all of Bush's policies were still in place until Dec of 09. And let's see what was Obama's nickname? Oh yeah the rubber stamp president who just kept extending Bush's policies. So you could say all of this was Bush's fault.

buster2010
Your charts are off. 09 is Bush not Obama all of Bush's policies were still in place until Dec of 09. And let's see what was Obama's nickname? Oh yeah the rubber stamp president who just kept extending Bush's policies. So you could say all of this was Bush's fault.

Bush never signed the Democrat Congress budget for FY2009.

He refused.

Obama signed it in 2009 and inflated it beyond belief.

It's all the Democrat binge spenders fault.

Just look at the huge number differences !!!!

Here is Mr. Economics himself.

Talking his head off in 2008.

On July 3, 2008 -- the day before Independence Day -- Barack Obama said that adding $4 trillion in debt was irresponsible and unpatriotic.

Obama: 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.

Hmmmm...

"" Obama says adding $4 trillion to debt is unpatriotic. ""

buster2010
Your charts are off. 09 is Bush not Obama all of Bush's policies were still in place until Dec of 09. And let's see what was Obama's nickname? Oh yeah the rubber stamp president who just kept extending Bush's policies. So you could say all of this was Bush's fault.

Oh... Is that how it'll be Bush's fault to 2016 and then at least 1 year beyond that. Since hangover from Obama into the next President will actually be a kind of prolonged Bush time extension thing to be a hangover from him, right?

I'm glad that's all clear now. I've been confused on how it could be worked around these days to still be 'ol George's fault. For a doofus, G.W. sure seems to have been Einstein reincarnated. lol..

xuenchen

buster2010
Your charts are off. 09 is Bush not Obama all of Bush's policies were still in place until Dec of 09. And let's see what was Obama's nickname? Oh yeah the rubber stamp president who just kept extending Bush's policies. So you could say all of this was Bush's fault.

Bush never signed the Democrat Congress budget for FY2009.

The United States federal budget for fiscal year 2009 began as a spending request submitted by President George W. Bush to the 110th Congress. The final resolution was approved by the House on June 5, 2008.

Decreased tax revenue and high spending resulted in an unusually large budget deficit of about $1.4 trillion, well above the $407 billion projected in the FY 2009 budget.[3] A 2009 CBO report indicated that $245 billion, about half of the excess spending, was a result of the 2008 TARP bailouts. Tax cuts resulting from the American Recovery and Reinvestment Act of 2009 accounted for nearly half of the lost revenue. [4] Also known as the "stimulus" package, the bill eventually added $831 billion to government spending between 2009 and 2019.

en.wikipedia.org...

And Deficits are FALLING under Pres. Obama..

You are stuck in reality disconnect.

reply to post by Indigo5


Yes of course.

but you cleverly forgot to add something....

The United States federal budget for fiscal year 2009 began as a spending request submitted by President George W. Bush to the 110th Congress. The final resolution was approved by the House on June 5, 2008.[2]


The final spending bills for the budget were not signed into law until March 11, 2009 by President Barack Obama, nearly five and a half months after the fiscal year began.

And most of the TARP money got repaid.

And still they managed to binge spend.
Hmmm.

The TARP program originally authorized expenditures of $700 billion. The Dodd–Frank Wall Street Reform and Consumer Protection Act reduced the amount authorized to $475 billion. By October 11, 2012, the Congressional Budget Office (CBO) stated that total disbursements would be $431 billion and estimated the total cost, including grants for mortgage programs that have not yet been made, would be $24 billion.[1] This is significantly less than the taxpayers' cost of the savings and loan crisis of the late 1980s but does not include the cost of other "bailout" programs (such as the Federal Reserve's Maiden Lane Transactions and the Federal takeover of Fannie Mae and Freddie Mac). The cost of the former crisis amounted to 3.2 percent of GDP during the Reagan/Bush era, while the GDP percentage of the latter crisis' cost is estimated at less than 1 percent.[2] While it was once feared the government would be holding companies like GM, AIG and Citigroup for several years, it was reported in April 2010 that those companies are preparing to buy back the Treasury's stake and emerge from TARP within a year.[2] Of the $245 billion handed to U.S. and foreign banks, over $169 billion has been paid back, including $13.7 billion in dividends, interest and other income, along with $4 billion in warrant proceeds as of April 2010. AIG is considered "on track" to pay back $51 billion from divestitures of two units and another $32 billion in securities.[2] As of December 31, 2012, the Treasury had received over $405 billion in total cash back on TARP investments, equaling nearly a non-inflation-adjusted 97 percent of the $418 billion disbursed under the program.

Troubled Asset Relief Program

reply to post by Indigo5

And Deficits are FALLING under Pres. Obama..

You are stuck in reality disconnect.

Yep, it's all in the tables in the OP.

hard to argue with real numbers.

reply to post by xuenchen


The debt has increased, althought directly Obama policies have not added much to it...

Over $1.4 trillion was spent on interest payments caused by the already standing debt.

Of the alleged $5 trillion, $1.6 trillion is related to costs of the Iraq/Afghanistan Wars. These were costs George W. Bush intentionally hid from the budget, and that President Obama allowed to be calculated when he assumed office.

www.examiner.com...
www.sfgate.com...

What people forget (or never knew) is that the first year of every presidential term starts with a budget approved by the previous administration and Congress. The president only begins to shape the budget in his second year. It takes time to develop a budget and steer it through Congress — especially in these days of congressional gridlock.

The 2009 fiscal year, which Republicans count as part of Obama’s legacy, began four months before Obama moved into the White House. The major spending decisions in the 2009 fiscal year were made by George W. Bush and the previous Congress.

Although there was a big stimulus bill under Obama, federal spending is rising at the slowest pace since Dwight Eisenhower brought the Korean War to an end in the 1950s.

www.marketwatch.com...



These are the articles I found within a minute.

We also have to consider the fact that Obama came into the office right after 2008. The unemployment went out of the roofs, which rose the social security bills significantly. More people unemployed= less incoming tax revenue & more social security expenditure. As you can see, unemployment rates are significantly higher since Obama came to office due to the 2008 crisis. You can also see it from tax revenues - these have not even reached what the tax revenues were under bush latter years - 2.5 billion. Also it has to be considered that many people have not gotten back on track yet and have only temporary/very low paying jobs in which there is no other options than to ask for food stamps or receive other kind of aid. I can not say for sure, although I have not heard social security benefits being raised significantly under Obama, simply the number of people recieving aid has increased and this has happened highly due to the crisis...

Even with all these factors counted in, under Obama the overall increase in national budget (this year/last year*100%) has been lowest since Korean war... Obama took the office in very tough times, one of the toughest economical times in decades and considering the current situation, things are far from perfect, although these could be far worse considering what happened in 08.

reply to post by Cabin


That's all been debunked already.

The real numbers tell the real story.

The TARP money is repaid and re-spent.