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Title: Obama Budget Doubles National Debt to $26.3 Trillion in 10 Years
Source:
CNS News
URL Source: http://cnsnews.com/news/article/oba ... et-nearly-double-national-debt
Published: Feb 15, 2011
Author: Matt Cover
Post Date: 2011-02-15 16:40:25 by Happy Quanzaa
Keywords: None
Views: 12055
Comments: 19
(CNSNews.com) – If the federal budget released by President Barack Obama today is implemented, it will double the national debt over the next 10 years. The current national debt is $13.56 trillion (end of FY 2010). By the end of 2021, that debt would rise to $26.3 trillion under the White House budget. The figures reflect the effects of Obama’s fiscal year 2012 budget priorities, particularly a federal deficit that never falls below $500 billion in any year between 2010 and 2021. The national debt – both debt held by the public and debt held by “government accounts” (the Social Security trust fund chief among them) – was $13.56 trillion on Sept. 30. 2010, the end of fiscal year 2010. (The national debt today, Deb. 14, 2011, is $14.08 trillion.) In 2021, the national debt will have risen to $26.3 trillion, increasing by $1 trillion every year until 2021. Obama’s budget does not contain any plans for balancing the federal budget or reducing the national debt. (The national debt figures used by the Obama administration are on p. 203 of the budget, Table S-14, released today. )
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Begin Trace Mode for Comment # 11.
#1. To: Happy Quanzaa (#0)
So it won't be as bad as Reagan who tripled it in 8 years.
Debt as a percentage of GDP was never more than about 60% under Reagan. It's already 100% under the Kenyan and rising.
Is there a reason you posted a graph proving what I posted? Admitting you are wrong?
How much did the debt rise as a percentage of GDP under Reagan?
What I said was that it was never above about 60% which is correct, and is about what it was when Clinton left Office (with a GOP Congress). Your graph only proved that right. In fact it decreased under Bush until the Democrats took over Congress.
#12. To: All (#11)
You might want to take another look at that chart.
Top • Page Up • Full Thread • Page Down • Bottom/LatestIf the federal budget released by President Barack Obama today is implemented, it will double the national debt over the next 10 years.
#2. To: go65 (#1)
#3. To: no gnu taxes (#2)
#5. To: go65 (#3)
#6. To: no gnu taxes (#5)
Is there a reason you posted a graph proving what I posted?
#10. To: go65 (#6)
How much did the debt rise as a percentage of GDP under Reagan?
#11. To: no gnu taxes (#10)
How much did the debt rise as a percentage of GDP under Reagan?
Replies to Comment # 11. In fact it decreased under Bush until the Democrats took over Congress.
End Trace Mode for Comment # 11.
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