Obama Deficit Roars past Bush 8-year Total in Just 38 Days - 10:14 am CST - February 27, 2009 Posted under The Scoop
(WASHINGTON, DC) – President Barack Obama and Congressional Democrats today surpassed the eight-year federal deficit total of the Bush Administration in just a little more than one month after taking control of all three branches of the federal government.
“Anybody who voted against Republicans over being mad at the deficit will want a redo when they see this,” says House Republican Conference Secretary John Carter (R-TX31). “Voting Democrat to straighten out the federal deficit is the same as hiring Foster Brooks to inventory the liquor store.”
“We are now on a course straight for national bankruptcy and a catastrophic devaluation of the U.S. dollar unless we can stop this,” says Carter. “We must convince the Administration to listen to alternative economic advice and turn the wheel immediately to avert disaster. This kind of red ink will keep us in recession, if not depression, for the next twenty years if we let it stand.”
The Obama Administration Budget released today contains a total $2.867 trillion in red ink, just 38 days after Obama’s inauguration on January 20.
In contrast, the Bush Administration ran up a $2.7519 trillion deficit over an 8-year period that included 7 years of war in Iraq and Afghanistan; the economic downturn after 9-11; the addition of a prescription drug benefit to Medicare; a massive increase in federal education spending under No Child Left Behind; and the current recession and 2008 Wall Street bailout.
Bush Surplus/Deficit Fiscal Years 2001-2008 (billions of dollars) Congressional Budget Office (CBO) Statistics 2001 128.2 2002 -157.8 2003 -377.6 2004 -412.7 2005 -318.3 2006 -248.2 2007 -160.7 2008 -454.8 TARP -750.0 Total -2751.9
Obama Budget Deficit FY 2009/10* Office of Management and Budget (OMB) Statistics 2010 -1750 2011 -1117 Total -2867
*The Obama deficit total does NOT include the impact of the $787 billion Stimulus package approved by House Democrats in February. It also excludes any effect of an Obama contingency request for an additional $750 billion to use for bank rescue. If the contingency amount is included the total deficit for FY 2009/10 is $3.617 trillion
Published by admin 8 Comments
R Lee 3:11 pm CST February 27, 2009
Where is the outcry from ABC NBC CBS media mouthpieces?
……… I’m waiting……. nothing from anyone?…….imagine that!
Lonnie Jones 5:30 pm CST February 27, 2009
This is what happens when you have a bunch of people doing something they don’t know how to do and led by some one who has no training in business and does not have a clue how to do anything.
Bad breeding of ignorant people usually produces ignorant offspring.
L Lee 6:31 pm CST February 27, 2009
The problem is stated in the first paragraph: “…after taking control of all three branches of the federal government.” It’s bad enough that we have an inexperienced leader at the helm of the executive branch, but when he takes over the legislative and judicial branches we are in deep doo-doo. I guess that means the 10th Amendment is out the door too.
CWJensen 7:35 pm CST February 27, 2009
We need to take our country back………………..it will only get worse. Can u imagine so far only 5 per cent of the term until the next election arrives. Do you really think we can afford to let this madness continue? Texas can claim the right to be a Republic………….check your history………………Now may be the time before it is TOO LATE. Time to lead by example.
John V. Ahern 10:39 pm CST February 27, 2009
Obama lied to the American people during his campaign, he hid his true beliefs and plans from everyone willing to be deceived. He used the media as a willing accomplise to perpatrate FRAUD on the American people. Obama is doing just what he wanted to from the very start. There is no “inexperienced” to it. He is doing just what he planned to do all a long. It has been his intent to turn the United States into a Scialist Welfare State were everyone is dependent on government and him to provide everything. Impeach NOW while we still can. Your freedom depends on it.
Gary F 1:57 am CST February 27, 2009
I agree with John, Obama is no fool, he’s doing exactly what he has intended to do all along. As soon as he has broken us his Muslim Cronies will be able to take right over. He’s already provided 20.3 million to move refugees from Gaza to the United States. He’s even paying for their plane tickets and they’re just a bunch of terrorists.
Jim B. 8:16 am CST February 27, 2009
This explosion of socialist spending in just 38 days is just the tip of the iceberg. Next the 1st Ammendment is under assault with the so called “Fairness Document” (or some variation of it), then the 2nd Ammendment to disarm and render defenseless, the public (ban on so called assault weapons which means any semi-atuomatic rifle or a pistol with a magazine holding more than 10 rounds). Look for BHO and gang to sell us out to the UN in the not to distant future, cut the military and abandom the war on terror. I’m sure there are many other suprises ahead that we don’t even know or have dreamed (or nightmared) about! The only ones benifiting from this reckless administration, so far, is ACORN, welfare brood mares and the unions. This economy would take a big about face with just two words from the President……….CUT TAXES! Then watch the stock market and real estate values soar. That has always worked in the past but liberals never learn from the past because they stil, stupidly, cling to their socialist paradise fantasy! To stop this madness we must take back the House and Senate in 2010 to undo as much damage as possible. Then we need a strong conservative candidate for 2012 so we can completely disassemble this crooked ruling royalty.
Gene Cory 8:35 am CST February 27, 2009
Every democracy in history has failer when the people learn that they can get more from the goverment than they give. We are plunging down that trail faster and faster. Leave a Comment Your Name (required) Your Email (required - will not be published) Your Website (optional)