Common Right Wing Lies: Obama Increased the U.S. Debt By 1.7 Trillion Dollars

by Ben Hoffman

Fact: The fiscal year begins on October 1 and ends on September 30. Since Obama’s 2009 fiscal year ends on Sept. 30, 2010, we don’t know how much he will have increased the debt.

Bush more than doubled the U.S. debt:

Beginning of Bush’s 2001 fiscal year (Oct. 1, 2001): $5,807,463,412,200.06
End of Bush’s 2008 fiscal year (Sept. 30, 2009): $11,909,829,003,511.75

U.S. Debt Calculator

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17 Comments to “Common Right Wing Lies: Obama Increased the U.S. Debt By 1.7 Trillion Dollars”

  1. Mr. Hoffman,

    So Obama had no say in spending the money up until 9/30/09? Do you believe that?

  2. Sounds like it.

  3. Mr. Hoffman,

    “That’s not what I said.”

    Obama as the current President has controlled the money since he has come in to power. For 2 years before that Pelosi and Reid controlled Congress. All spending begins in Congress.

    But to change the subject slightly. What is your thought on the Democrats plan to lower the Medicare eligibility age to 55 as an alternative to the public option not being in Obama care?

    I personally do not see how Obama makes the numbers work. Medicare is on track to go broke in a few years. Now he will add maybe 50 million new people. How does he pay for it all?

    • [Obama as the current President has controlled the money since he has come in to power.]

      No, the president can’t just cut programs that have already been approved. While congress does control spending, they were locked into funding the two wars and they weren’t responsible for our failed economy, which created massive unemployment, which increased payments for unemployment and reduced tax revenue.

      Now, you can honestly blame Obama for increasing unemployment benefits and the money from the stimulus, but those are reactive measures to a catastrophic situation.

      Much of the TARP money was undeniably mishandled — criminally so, if you ask me — but that wasn’t Obama’s fault. That fault lies with Henry Paulson.

      As far as the expansion of Medicare, I’m all for it. They’ll simply have to raise taxes to pay for it.

    • [Now he will add maybe 50 million new people. How does he pay for it all?]

      The people coming into Medicare pay for it. For them, Medicare becomes medical insurance they will purchase.

      Many of the 50 million will be the ‘newly insured’ (the previously uninsured) and it is true that for a large number of them coverage will be underwritten by the gov’t. That will be true whatever bill comes out of Congress.

  4. Ms. Holland, Mr. Hoffman,

    I respectfully suggest that you are not aware just how destructive this is.

    “As far as the expansion of Medicare, I’m all for it. They’ll simply have to raise taxes to pay for it.”

    This makes sense if you believe that raising taxes has no ill effects on the economy. I don’t know if you’ve looked at the numbers for Medicare, but they are scary. President Obama is doubling down on a really bad program. We Conservatives would probably do the exact opposite of what the President is doing.

    I guess if you are driving off of a cliff, you might as well punch the accelerator to the floor. Medicare and Social Security will bankrupt this country. In spite of what you believe, there ain’t enough rich people to pay for this.

    The only karma to the whole thing is, you rich Liberals will pay more than a poor Conservative such as myself.

    “Many of the 50 million will be the ‘newly insured’ (the previously uninsured) and it is true that for a large number of them coverage will be underwritten by the gov’t.”

    I hate to break this to you , but we the government are broke. Before this travesty we the government owe $13trillion. At some point the Chinese are going to cut up Obama, Reid, and Ms. Nancy’s Platinum-Platinum credit card.

    There is no free money. At some point even you will be forced to face that.

    • [The only karma to the whole thing is, you rich Liberals will pay more than a poor Conservative such as myself.]

      Oh for god’s sake Alan. Snap out of it.

    • [I respectfully suggest that you are not aware just how destructive this is.]

      Spoken like a true hedgehog.

      [This (increasing taxes) makes sense if you believe that raising taxes has no ill effects on the economy.]

      First of all, raising taxes on incomes of the wealthy has no effect on the economy. It’s not going to change their spending habits whatsoever.

      If taxes go up less than the cost of health insurance, we’ll be better off.

      [I don’t know if you’ve looked at the numbers for Medicare, but they are scary. President Obama is doubling down on a really bad program.]

      No, it’s a good program. That’s why the teabaggers were carrying signs saying “keep your hands off my Medicare.” There just need to be taxes to pay for it.

      [We Conservatives would probably do the exact opposite of what the President is doing.]

      Yep, that’s why the country is in such a mess after all the years of conservative rule.

      [Medicare and Social Security will bankrupt this country.]

      In case you haven’t noticed, this country is already bankrupt.

      [The only karma to the whole thing is, you rich Liberals will pay more than a poor Conservative such as myself.]

      I’m not rich, but I don’t mind paying a little more in taxes for the good of the country.

      [At some point the Chinese are going to cut up Obama, Reid, and Ms. Nancy’s Platinum-Platinum credit card.]

      Yeah, we had a balanced budget and no debt before Obama took office. *rolls eyes*

      [There is no free money. At some point even you will be forced to face that.]

      I’ve faced that a long time ago. That’s why I was against the Bush tax cuts. When are you going to face the fact that there’s no free money?

  5. Mr. Hoffman,

    You know, Bush’s wars and tax cuts were the greatest things that could have ever happened to you Liberals. No matter how much Ms.Nancy, Mr. Barak, and Ho Hum Harry spend, you guys can always say “yea but Bush gave tax cuts to the rich and fought the Iraq war for oil”.

    You never ever have to take responsibility for your Party’s over spending.

    “First of all, raising taxes on incomes of the wealthy has no effect on the economy. It’s not going to change their spending habits whatsoever.”

    That is totally false. In our free enterprise system, producers are rewarded. As producers, I mean wage earners, investors, even you. The free market with all of it’s warts works better than a political redistribution that rewards the most inefficient but well connected dregs of society. Repeat after me, can you say Acorn? Can you say Mark Penn?

    http://www.foxnews.com/politics/2009/12/09/report-firms-owned-clinton-pollster-received-m-stimulus-money/

    When you steal money from the producers, you get less wealth produced. When let the producers keep more of what they produce, you get more wealth, period. Lower tax rates produce more taxes in the long run.

    It’s been proven many times over not just by the Reagan tax cuts , but by the States today. The States with the highest tax rates on their producers, I call them the stupid States, have the highest unemployment and are closest to bankruptcy. The two that come to mind are California and New York. It is no accident that these States have been dominated forever by people who think exactly like you.

    States such as Indiana, Texas, even my idiotic State of Pa. are surviving better than your Socialist Welfare States. Why is that?

    I can even give you a historical example. The Spanish Empire. In the 15 and 1600s they were the richest nation in the world. All of that Inca and Aztec gold. No matter how much came in, they were always broke and had to borrow. I think the Democrats were in charge back then too.

    • Alan, to save typing your fallacies over and over, you should make a list of your talking points and then just reference them.

      Talking point 27. Talking point 4. Talking point 2. Talking point 41…

  6. Mr. Hoffman,

    I don’t care how much you deride my comments. Call them talking points if you must. I am telling you what I believe. If you can’t dispute me point for point, I suppose you are only doing what is easy.

    • You’re all over the board with your talking points, which is a common tactic used by right-wingers to avoid an honest discussion. I think we’ve already been through each one of them a few times.

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  8. We should also not forget the financial crisis that lasted till 2010. I think this will add even more to the U.S debt.

  9. hello, and thanks for the news, that will really help me in my research work that i m doing.

  10. Obama Increased the U.S. Debt By 1.7 Trillion Dollars. That’s indeed a huge amount. Thanks for the information.

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