It’s official, Obama has accumulated more in deficits than all other Presidents in U.S. history combined!
Although Obama is quick to point out that he has trimmed down the $1.4 trillion budget gap Bush left him – the 2014 projection shortfall is $506 billion and the 2015 number is $469 billion – when you look at his socialist programs, like Obamacare, that are coming online, that improvement will be lost after only one year.
The Congressional Budget Office expects the 2016 gap to grow by 18.6% to $556 billion and will it double the 2015 figure by 2022.
Currently the US the government has over $18 Trillion in US Debt. This is the result of years of overspending. Of the $18 Trillion in US Debt, $13 Trillion is debt owed to the public but $5 Trillion is debt the government owes to other government agencies, like Social Security, where the government borrowed from these agencies when it needed money. The $13 Trillion in debt owed to the public is due to deficit spending and the accumulated interest payables related to the large amount of debt.
Per www.whitehouse.gov, the accumulative total for all US Deficits combined was $11.6 Trillion through the end of 2014 (see Table 1.1—SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (–):
1789–2020). This $11.6 Trillion along with accumulated interest payables are what account for the $13 Trillion in US debt outstanding.
A closer look at the deficits recorded at www.whitehouse.gov shows that the Obama Administration has accumulated more in deficits in six years than all prior years combined!
At the end of 2008, the accumulated total of all US Deficits for all administrations since 1789 was $5.3 Trillion. For the six years 2009 through 2014, the Obama Administration has racked up an impressive $6.3 Trillion in deficits which are now more than all of the accumulated deficits before he took office.
The GW Bush Administration racked up $2.0 Trillion in deficits in the 8 years it held the realm (2001 – 2008). The highest annual deficit the Bush administration amassed over its eight years was a $459 Billion deficit in 2008, a record at that time. This is far less than each of the Obama years. The Obama
administration holds the record for the top six annual budget deficits all accumulated in its first six years, with more than $1 Trillion deficits in each of its first four years alone.
There are people that say the Obama Administration is not to blame. Proponents of the current administration argue that because the US fiscal year ends in September, the $1 Trillion ‘Stimulus’ bill passed by Democrats and signed by the Obama administration in early 2009 should be associated with the Bush administration. This is clearly nonsense since it was passed after Obama was sworn in and Bush was long gone.
Alternatively, most of the TARP funds created in 2008 to ‘stabilize’ the economy and loaned by the Federal government to banks, auto companies and government entities FNMA and Freddie Mac were repaid by these entities in years after 2008 when the first loans were made. The bailout money loaned was $614 Billion and the government receipts to date from these loans are $667 Billion. The Obama administration has benefited from the payoff of these one-off loans since 2009, and would have reported even higher deficit spending over the past six years without these inflows.
Without a doubt and as clearly shown on its own White House website, Obama is king and world record holder of US deficits.
Sheep..mother of god lol
and how much of that is embezzled no one can tell me as corrupt as he and all his branches under him are filthy and lining there pockets to be billionaires-the perfect example is kilary $#%&!@*on has 6 billion $ missing when she worked for the state dept all filthy corrupt and holder and johnson are no different being muslim and in the terrorist organization weather underground so not only is holder a congressional liar he is a terrorist working for the justice system run by a terrorist how about them apples
This is old news but it gets worse by the day!
Wake up America, Obama and his people have long ago DECLARED WAR against the American people and the American way. Its time to arrest, and Charge Obama, his staff, his Cabinet, Joe Biden, Hillary Clinton and all senior Federal Employees (who have ignored Federal Laws or $#%&!@*isted the Criminal actions of before mentioned) with TREASON, MURDER / GENOCIDE, FRAUD, BRIBERY and OTHERE HIGH CRIMES. Its time that True Law Enforcement Personal to do their Jobs, does not matter if your federal or local, its time to arrest the criminals who have destroyed laws of this land. Our Cons$#%&!@*ution is something that we live by, and all LEO’s have sworn to uphold and to Protect from all enemies foreign or DOMESTIC. Obama’s actions and lack of enforcement of laws, Close relationships with Terrorist shows enough proof that Mr. Obama and many of his people are DOMESTIC TERRORIST hell bent on destroying the U.S. Cons$#%&!@*ution and The United States Of America, THIS IS AN ACT OF WAR AGAINST THE PEOPLE OF THE UNTIED STATES. Just know I am not a Republican either. If you love you life, stop being a shrew.
No no
Hey Mike. First of all I’m certain I have paid more taxes than you. Secondly, I’m very sure that I have a superior intelligence to yours. I base that certainty on the fact that you actually believe sites like this are really about truth rather than just peddling neo con nonsense. Let’s be real for a second. The last three republican administrations ended in crippling recessions. The last two democratic administrations ended in record productivity and booming economies. I’m done.
Impeach and prison
Stop the vacations
Thanks Carol
This is a bald face lie…….