Saturday, December 22, 2012

National Debt growing like a weed

national debt


According to The Wasington Post in May: "The Treasury Department’s “Debt to the Penny” Web site makes it easy to track the growth of the national debt during Obama’s presidency. There are two key figures — for publicly held debt and for gross debt, which includes bonds that the government owes to itself (such as Social Security trust fund bonds.)

As of Jan. 20, 2009, the publicly held debt was $6.31 trillion and the gross debt was $10.63 trillion. As of May 14, 2012, the publicly held debt was $10.92 trillion and the gross debt was $15.68 trillion.

So, the publicly held debt has grown by $4.61 trillion, and the gross debt has grown by $5.05 trillion."

Thus it’s certainly correct that the national debt has grown by about $5 trillion under Obama. Reuter's says, each of Obama's deficits as a percentage of gross domestic product has been larger than the previous post-World War II record, for which Democrats excoriated President Ronald Reagan. Between the debt already racked up and what Obama’s FY13 budget projects, each income-tax-paying family will owe more in Obama debt than a new mortgage on a median-priced home and four years of college costs.

We understand that Obama worshippers, the 51.9%, don't want to hear the cold hard facts, but it is the 48.10% who voted for the other guy who do.

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