"The $1.4 trillion federal budget deficit that Obama inherited in 2009 was in a large part due to the high rate of unemployment. When millions of people were put out of work in 2008 and 2009, it resulted in far less income taxes and less economic activity to generate federal revenue."
Oh ya, revenue was down $419 Billion in 2009 but just ignore that $535 Billion increase in spending.
"The $1.4 trillion federal budget deficit that Obama inherited in 2009 was in a large part due to the high rate of unemployment. When millions of people were put out of work in 2008 and 2009, it resulted in far less income taxes and less economic activity to generate federal revenue."
Oh ya, revenue was down $419 Billion in 2009 but just ignore that $535 Billion increase in spending.
14 facts about the Obama presidency
http://jeff61b.hubpages.com/hub/14-Facts-About-The-Obama-Presidency-That-Most-People-Dont-Know
Interesting.
What's interesting is how many Americans refuse to give him credit for creating the strongest economy in the world.What is?
What's interesting is how many Americans refuse to give him credit for creating the strongest economy in the world.
A year ago, the national debt was 17.088 trillion. Today it's only 17.937 trillion. That means the YoY deficit is only 0.849 trillion. I think that's pretty good. That's only about 5% of GDP.
Sooooo. Wheres the real birth certificate? Huh? Huh? Huh?
What's interesting is how many Americans refuse to give him credit for creating the strongest economy in the world.
A year ago, the national debt was 17.088 trillion. Today it's only 17.937 trillion. That means the YoY deficit is only 0.849 trillion. I think that's pretty good. That's only about 5% of GDP.
Kinda depressing
As a nation we owe $18 trillion dollars. I can't even begin to fathom how much money that actually is.
What's interesting is how many Americans refuse to give him credit for creating the strongest economy in the world.
A year ago, the national debt was 17.088 trillion. Today it's only 17.937 trillion. That means the YoY deficit is only 0.849 trillion. I think that's pretty good. That's only about 5% of GDP.
Moronic partisan twit. Spending has increased the least under Obama of any president since Eisenhower.
Don't let facts interfere with the formulation of your opinions, such as they are.
What's interesting is how many Americans refuse to give him credit for creating the strongest economy in the world.
A year ago, the national debt was 17.088 trillion. Today it's only 17.937 trillion. That means the YoY deficit is only 0.849 trillion. I think that's pretty good. That's only about 5% of GDP.
As Obama correctly pointed out in the past, the national debt is a serious threat to national security.Debt is stability. It means the world has placed $18 trillion of collateral into the fate of this country to have a strong future. And we can say that because we are the biggest
Facts will seem moronic to you won't they? 2009 Was a one time emergency budget, not the status quo to measure success by.
As Obama correctly pointed out in the past, the national debt is a serious threat to national security.
One of the ways Clinton balanced the budget was by putting the entire country on an adjustable rate mortgage. Rather than financing the government with 30 year bonds, the average maturity on government debt is now under 5 years. That means the federal budget is strongly influenced by interest rate fluctuations. The government can't balance the budget when interest rates are close to zero, so guess what would happen if China decided to dump a trillion dollars worth of US debt on the market at one time. Interest rates would go through the roof and the government would be bankrupt almost immediately. Doing so would cost China a trillion dollars, but nobody said war was cheap.