87% vs 86.3%

JamesL

JamesL

That's the percentage increase of national debt under Obama vs. Bush

http://fortune.com/2017/01/20/barac...ry-moodys/?xid=soc_socialflow_twitter_FORTUNE

Trump better not follow suit.


Here’s How Much Barack Obama Added to the National Debt

President Barack Obama left office after adding $9.3 trillion to the national debt pile for the current U.S. Commander-in-Chief, Donald Trump.

The U.S. Department of the Treasury Bureau of the Fiscal Service reported Thursday that national debt had grown to $19.9 trillion, up 87% since Obama stepped into office in 2009.

Under President George W. Bush, the debt rose 86.3% to $10.63 billion in the course of 8 years.

Granted, the debt figures don't account for the U.S.'s growing population or inflation. The figures also don't say much about the U.S.'s ability to pay back its bills.

At any rate, credit ratings agency Moody's told CNBC earlier this month that the U.S. is still in relatively good shape to pay back its debts. The firm's Chief Sovereign Ratings officer, Moritz Kraemer, said that the country was stable, and unlikely to lose its AA rating a at least a while.

Though he also noted that the U.S. wasn't likely to travel back to the good old days, when the country last had its coveted AAA credit rating.
 
JamesL said:
That's the percentage increase of national debt under Obama vs. Bush

http://fortune.com/2017/01/20/barac...ry-moodys/?xid=soc_socialflow_twitter_FORTUNE

Trump better not follow suit.


Here’s How Much Barack Obama Added to the National Debt

President Barack Obama left office after adding $9.3 trillion to the national debt pile for the current U.S. Commander-in-Chief, Donald Trump.

The U.S. Department of the Treasury Bureau of the Fiscal Service reported Thursday that national debt had grown to $19.9 trillion, up 87% since Obama stepped into office in 2009.

Under President George W. Bush, the debt rose 86.3% to $10.63 billion in the course of 8 years.

Granted, the debt figures don't account for the U.S.'s growing population or inflation. The figures also don't say much about the U.S.'s ability to pay back its bills.

At any rate, credit ratings agency Moody's told CNBC earlier this month that the U.S. is still in relatively good shape to pay back its debts. The firm's Chief Sovereign Ratings officer, Moritz Kraemer, said that the country was stable, and unlikely to lose its AA rating a at least a while.

Though he also noted that the U.S. wasn't likely to travel back to the good old days, when the country last had its coveted AAA credit rating.
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Worst part... his deficit spending wasn't the kind that could benefit the country as a whole. That is, spending to repair and upgrade the infrastructure, harden the electric grid. Those would be more-or-less "one time" expenses. Instead, Odumbo used all the borrowings to increase social programs, shore-up union pension plans to secure their members' votes and for illegals. Those types of expenditures are "ongoing expense" programs will end up costing TONS more. And to pare those programs back, regardless of how unsustainable, will have the Dems screaming bloody murder. We'll have a chance of trimming the $20T national debt if Trumps deports 30 million illegals. If he doesn't, I can't see how we'll make a meaningful dent in it.

:(
 
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Obama also had a compliant Fed reserve that kept interest rates at historically low levels, making it painless to finance his spending.

With Trump taking office however, Yellen is already squawking that we can't "risk" the economy overheating. She will do her best to engineer a recession to damage Trump.
 
AAAintheBeltway said:
Obama also had a compliant Fed reserve that kept interest rates at historically low levels, making it painless to finance his spending.

With Trump taking office however, Yellen is already squawking that we can't "risk" the economy overheating. She will do her best to engineer a recession to damage Trump.
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Considering the size of the debt we now carry, it won't take much.
 
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