Defend this

Defend this.

Other urls found in this thread:

washingtontimes.com/news/2015/nov/1/obama-presidency-to-end-with-20-trillion-national-/
treasurydirect.gov/NP/debt/current
politifact.com/virginia/statements/2016/sep/12/donald-trump/trump-solely-blames-obama-doubling-debt/
business.time.com/2013/02/05/the-federal-governments-128-trillion-stockpile-the-answer-to-our-debt-problems/
thebalance.com/deficit-by-president-what-budget-deficits-hide-3306151
en.wikipedia.org/wiki/Motor_Carrier_Act_of_1980
en.wikipedia.org/wiki/1979_energy_crisis#United_States
mises.org/library/rethinking-carter
youtube.com/watch?v=H4ThZcq1oJQ
twitter.com/AnonBabble

source this

Not constant dollars. Moron.

inblation :DDDDDDDDDDDDDD

It is actually the fault of the congresses.

Democrats had House and Senate majority before and after the 2008 crash. They are the ones that bailed out the (((banks and investors))). then dump helicopter money on a bunch of feel good "green" projects, to attempt to restart the economy.

$20 trillion man: National debt nearly doubles during Obama presidency

washingtontimes.com/news/2015/nov/1/obama-presidency-to-end-with-20-trillion-national-/

treasurydirect.gov/NP/debt/current

Current
Debt Held by the Public 09/13/2016 19,493,291,113,807.77

19,5 TRILLION
>19,5 TRILLION
19,5 TRILLION
>19,5 TRILLION
19,5 TRILLION
>19,5 TRILLION

politifact.com/virginia/statements/2016/sep/12/donald-trump/trump-solely-blames-obama-doubling-debt/

GWB never included the financing of the Iraq war or the war on terror in the federal budget until he drafted the 2008 budget in his final year. The budget in Obama's first year in office was drafted by GWB, not Obama.

> not adjusting for inflation

idiot spotted

Obamacare added around 2 trillion to the deficit as well.

It was expensive as hell to launch and then ended up sucking ass anyway.
>hurr Government backed Corporate takeover of healthcare is surely going to help!
>oh you lost your old policy and saw a rate hike of as much as 99% for young white males? thats the price of health care, faggot! *ignores that it wasn't the price you paid before*

>i-its all inflation

guess we can thank that commie LBJ for waving goodbye to the gold standard too

Black metal is better than death metal.

Don't argue with me.

Barack Obama - The national debt grew the most dollar-wise during President Obama's term. He added $6.494 trillion, a 56% increase, in seven years.

--------------------------------------------

Herbert Hoover: Added $6 billion, a 33% increase over $17 billion, the debt at the end of Coolidge's last budget, FY 1929.

FY 1933 - $3 billion.
FY 1932 - $3 billion.
FY 1931 - $1 billion.
FY 1930 - $1 billion surplus.

Calvin Coolidge: Subtracted $5 billion from the debt, a 26% decline from $21 billion the debt level at the end of Harding's last budget, FY 1923.

FY 1929 - $1 billion surplus.
FY 1928 - $1 billion surplus.
FY 1927 - $1 billion surplus.
FY 1926 - $1 billion surplus.
FY 1925 - $1 billion surplus.
FY 1924 - $1 billion surplus.
Warren G. Harding: Subtracted $2 billion from the debt, a 7% decline from the $24 billion debt at the end of Wilson's last budget, FY 1921.

FY 1923 - $1 billion surplus.
FY 1922 - $1 billion surplus.
Woodrow Wilson: Added $21 billion to the debt, a 727% increase to the $2.9 billion debt at the end of Taft's last budget, FY 1913.

FY 1921 - $2 billion surplus.
FY 1920 - $1 billion surplus.
FY 1919 - $13 billion.
FY 1918 - $9 billion.
FY 1917 - $2 billion.
FY 1916 - $1 billion.
FY 1915 - $0 billion (slight surplus).
FY 1914 - $0 billion.
FY 1789 - FY 1913: $2.9 billion

Harry Truman: Added $7 billion, a 3% increase over FDR's debt level of $259 billion at the end of FY 1945.

FY 1953 - $7 billion.
FY 1952 - $4 billion.
FY 1951 - $2 billion surplus.
FY 1950 - $5 billion.
FY 1949 - slight surplus.
FY 1948 - $6 billion surplus.
FY 1947 - $11 billion surplus.
FY 1946 - $11 billion.

Franklin D. Roosevelt: Added $236 billion, a 1,048% increase over $23 billion, the debt at the end of Hoover's last budget, FY 1933.

FY 1945 - $58 billion.
FY 1944 - $64 billion.
FY 1943 - $64 billion.
FY 1942 - $23 billion.
FY 1941 - $6 billion.
FY 1940 - $3 billion.
FY 1939 - $3 billion.
FY 1938 - $1 billion.
FY 1937 - $3 billion.
FY 1936 - $5 billion.
FY 1935 - $2 billion.
FY 1934 - $5 billion.

and liberals defend the fact that the 90% got screwed, because 10% got health coverage. though most of it is from more people put onto medicaid.

the subsidized bronze plans are not even worth buying. you have to have 7000 a year in health expenses, before it starts paying out.

Gerald Ford: Added $224 billion, a 47% increase in the $475 billion debt level at the end of Nixon's last budget, FY 1974.

FY 1977 - $78 billion.
FY 1976 - $87 billion.
FY 1975 - $58 billion.
Richard Nixon: Added $121 billion, a 34% increase in the $354 billion debt level at the end of LBJ's last budget, FY 1969.

FY 1974 - $17 billion.
FY 1973 - $31 billion.
FY 1972 - $29 billion.
FY 1971 - $27 billion.
FY 1970 - $17 billion.
Lyndon B. Johnson: Added $42 billion, a 13% increase in the $312 billion debt level at the end of JFK's last budget, FY 1964.

FY 1969 - $6 billion.
FY 1968 - $21 billion.
FY 1967 - $6 billion.
FY 1966 - $3 billion.
FY 1965 - $6 billion.
John F. Kennedy: Added $23 billion, a 8% increase in the $289 billion debt level at the end of Eisenhower's last budget, FY1961.

FY 1964 - $6 billion.
FY 1963 - $7 billion.
FY 1962 - $10 billion.
Dwight Eisenhower: Added $23 billion, a 9% increase in the $266 billion debt level at the end of Truman's last budget, FY 1953.

FY 1961 - $3 billion.
FY 1960 - $2 billion.
FY 1959 - $8 billion.
FY 1958 - $6 billion.
FY 1957 - $2 billion surplus.
FY 1956 - $2 billion surplus.
FY 1955 - $3 billion.
FY 1954 - $5 billion.

In other words, the U.S. is paying for GWB's wars under Obama's presidency.

> 19.5 Trillion

That's not even 90% of GDP. That's litteraly nothing, they can service that shit at a growth rate of 2-3% annually with zero problems. The value of all Federally owned real estate in the US is over 100 trillion in assets. They can pay that shit off tommorow if they wanted too.

business.time.com/2013/02/05/the-federal-governments-128-trillion-stockpile-the-answer-to-our-debt-problems/

Pretty much, its almost like the economy takes time to react to changes.

>politifact.com/virginia/statements/2016/sep/12/donald-trump/trump-solely-blames-obama-doubling-debt/

Was expecting a pants-on-fire. Pleasantly surprised.

What is inflation

the president can only suggest a budget. congress has the power of the purse.

George W. Bush: Added $5.849 trillion, a 101% increase to the $5.8 trillion debt level at the end of Clinton's last budget, FY 2001.

FY 2009 - $1.632 trillion. (Bush's deficit without the impact of the Economic Stimulus Act).
FY 2008 - $1.017 trillion.
FY 2007 - $501 billion.
FY 2006 - $574 billion.
FY 2005 - $554 billion.
FY 2004 - $596 billion.
FY 2003 - $555 billion.
FY 2002 - $421 billion.
Bill Clinton: Added $1.396 trillion, a 32% increase to the $4.4 trillion debt level at the end of Bush's last budget, FY 1993.

FY 2001 - $133 billion.
FY 2000 - $18 billion.
FY 1999 - $130 billion.
FY 1998 - $113 billion.
FY 1997 - $188 billion.
FY 1996 - $251 billion.
FY 1995 - $281 billion.
FY 1994 - $281 billion.
George H.W. Bush: Added $1.554 trillion, a 54% increase in the $2.8 trillion debt level at the end of Reagan's last budget, FY 1989.

FY 1993 - $347 billion.
FY 1992 - $399 billion.
FY 1991 - $432 billion.
FY 1990 - $376 billion.
Ronald Reagan: Added $1.86 trillion, 186% increase in the $998 billion debt level at the end of Carter's last budget, FY 1981. See Did Reaganomics Work?

FY 1989 - $255 billion.
FY 1988 - $252 billion.
FY 1987 - $225 billion.
FY 1986 - $297 billion.
FY 1985 - $256 billion.
FY 1984 - $195 billion.
FY 1983 - $235 billion.
FY 1982 - $144 billion.

Jimmy Carter: Added $299 billion, a 43% increase in the $699 billion debt level at the end of Ford's last budget, FY 1977.

FY 1981 - $90 billion.
FY 1980 - $81 billion.
FY 1979 - $55 billion.
FY 1978 - $73 billion.

All debt since 1914 recorded posted

***From 1789 to 2009: $1,62 trillion*** (10 trillion inflation adjusted)
***From 2009:2016: $8+ trillion


source

Don't forget the $1 trillion for the F-35

The gold standard was fucking stupid. The set exchange rate between dollars and gold drifted from the market exchange rate and people were able to rip off the government, especially when new gold sources are found. Goldfags are people who took one economics class and think they won a Nobel Prize

shut the fuck up hue

except each group always blames the other. Reagan supposedly tanked the economy, GH Bush kickstarted it back up, and Clinton brought in the second golden age.

When we all know that's a lie.

servicing the debt is going to become the largest expense of the General Fund in a decade.

US government would need to find buyers for that land. which they won't, because most of it is the middle of fucking nowhere.

You're not really this retarded are you m8?

Not if the US economy starts growing by at least 3% annually

Responsibility of drafting the budget falls to the president. Congress approves it.

people like to shit on Carter, but his actions created the boom that Reagan enjoy. It also helped defeat the Soviet Union by collapsing oil prices in the late 80s.

Actually, inflation will reduce the real cost of the national debt. In theory, it makes sense to simply control the deficit and wait for inflation to reduce the real debt load to gradually lessen over time

Source:
***From 1789 to 2009: $1,62 trillion*** (10 trillion inflation adjusted)
***From 2009:2016: $8+ trillion
Veredict: Yes, Obama spent basically in 8 years what others spent in 220

thebalance.com/deficit-by-president-what-budget-deficits-hide-3306151

Congress tried passing a salary limit to retired presidents to $200k a year. Obama vetoed it. The president's are getting about $1million a year currently.

Huehuehue can't argue with that one

Nope. We had already been at war since 2001.

I don't know if you guys are really getting paid by some leftist organization or just dumb americans

So you think we have a problem paying for future investments and drone strikes? LOL We can still shit on your tiny economy.

One expensive pair of Jordans.

we have 19.5 tril in national debt. not 12.8. your pic hasnt been accurate since 2009

Inflation

This poster is from Ontario and voted for Wynne so he doesn't understand basic math.

Sorry if you had to read his awful post.

>people like to shit on Carter, but his actions created the boom that Reagan enjoy
Fucking lol. 9/10 because it's so fucking...LOL

Inflation.

Most of the debt Obama took on was a result of carrying out GWBs plans to unfuck the economy bush and our other leaders led us into. Perticularly the costs of the war on terror & bailouts.

Obama didn't help matters any by increasing government spending so much on top of bailouts, his bad foreign policy on top of bushes bad foreign policy has caused the US to go on expensive international adventures and pay for the cost of refugees. Really, the majority of the debt Obummer added was a direct result of things Bush set into motion that would have taken place if McCain got in.

If Mccain got in we would be sitting here talking about how he was the most debt-addled president ever. It's not like Obama woke up one day and went "Lets take out 6.5 trillion in debt", his hand was largely forced by circumstance. Mccain probably wouldn't have taken on as much debt but he would have taken on the bulk of it.

It's possible you mis-read the post. Of course we started war in 2001 and again in 2003. But none of these expenses were included in the federal budget, despite Democrats in congress requesting it year after year. I can't believe people have forgotten about this already. He was finally pushed into including the war finances in the budget in his final year, which would have been next year's budget, or the first year of the next president.

Three words: FEDERAL RESERVE SYSTEM.

Its duties include… "maintaining the stability of the financial system and providing financial services to depository institutions, the U.S. government, and foreign official institutions."

Yep, that's what they govern.

>Inflation.
>***From 1789 to 2009: $1,62 trillion*** (10 trillion inflation adjusted)
>***From 2009:2016: $8+ trillion
>Veredict: Yes, Obama spent basically in 8 years what others spent in 220

>8 years of inflation vs 43 terms of inflation
no wonder burgers are stupid

You're assuming that our government actually cares about our debt and that it isn't an epic troll against China. We are practically getting their commie shit for free.

Carter deregualted the price of domestic oil.

Which created a boom in American oil industry. Lots of Americans got jobs and some got insanely rich. Then the late 80s have the Oil Glut. Which caused the price to fall and the Soviet economy tanked.

Reagan had to keep on Paul Volcker at the Fed.

They were included. No matter how many unicorn's and rainbows die in your fantasy world. Go find a feels thread to post about what you feel happened.

>Hurr Durr what is interest?
Interest is the cost of debt. It has more impact on the amount of debt than inflation ever could. Especially considering interest rates take inflation into account

No there is no fucking comparison you retarded hue nigger. In 1945 the US Budget was 118 billion dollars. The entire Marshall plan to rebuild Europe cost 13 billion dollars. The Cost of Afghanistan Alone is 800 billion. It's not the same fucking thing

who has the balls to collect?
no one?
thats what i thought

Yea, so what's the alternative cunt

Most of it was automatic, i.e. revenues went down because of the recession, and expenses went up because people were getting unemployment or retiring.

>Defend this.
Also, congress sets taxing and spending levels, not the president.

Further, the debt goes up and down depending on whether there are wars or peace, booms or busts. Fact is congress has been preventing tax increases, which are necessary to reduce the deficit and pay down the debt.

What the fuck are you talking about? There was an oil crisis during Carter's administration, and the recession cost millions to lose their jobs. It was the 80s where things got fixed

Free floating currency

en.wikipedia.org/wiki/Motor_Carrier_Act_of_1980

en.wikipedia.org/wiki/1979_energy_crisis#United_States

mises.org/library/rethinking-carter

This post is pretty funny consider the debt is to American people.

Negative interest rates right now you mong

he dindu nuffin wrong

Nigga wut?
Do you know how government spending works? Bush can't just decide to spend money on whatever and not tell people about it. Hell, it's Congress who determines spending, not the president.

Your English is funny, Stefan.

the 79 oil crisis was the result of market speculation. the missing global production from iran, was barely an impact on the market. as the saudis increased production.

>It's not the same fucking thing
>Public debt
>not the same
>posted inflation adjusted
>not the same
What are obama niggers doing here?

considering*

Why? Its shit. I suppose if I had to, things are more expensive? Idk.

Show me the actual debt created by all the previous presidents adjusted for inflation.

It unfair for the rest of the presidents to be lumped in with Bush.

>Ronald Reagan: Added $1.86 trillion, 186% increase in the $998 billion debt level at the end of Carter's last budget, FY 1981. See Did Reaganomics Work?
b-but muh obongo

they actually think their opinion means something. stupid niggers. Kek will strike them down

Praise Kek

dubs dont lie

OK, so for the 12 year olds in this thread that aren't old enough to remember how this happened: Whenever we needed new funding for the wars a bill was drafted and put before Congress in which emergency funds were allocated for continued "operations" abroad. Congress was afraid to reject these bills because they didn't want to be seen as not supporting the troops. Each time one of these came around, members of Congress suggested that instead of re-upping the emergency funds, the war funds could be built into the federal budget like everything else. It was only in his final year that he finally agreed to do this. So we're now paying off those emergency funds. Man, you guys really were asleep through all of this, yeah?

It is unfair to blame Bush for a economic crisis caused by Bill Clinton.

That's not at all what happened though. Who told you that, Keith Olberman?

Bush was just as culpable for not doing anything. 16 years ago we had 5 trillion dollars in debt. Just 5 trillion. Bush doubled it and then Obama doubled it.

Pic: all USA Debt and total debt of 2009 inflation adjusted

Question to other canadian bros:
What motivates canadian niggers to defend Obama on Sup Forums? ideology?

I'm a reporter that covered Washington during the Bush era dumb ass.

>Trump is right about the figures
>B-but although Obama proposes the spending, it's not his fault because Congress has to approve it!
At least they're not lying, like usual, but that's a terrible excuse.

death metal sure, but not melodeath.

So Obama added 4x as much money as bush, yet bush is just as bad at spending so we should blame them equally?

>inflation increases debt

Inflation reduces your debt, if anything you retard.

Fucking leafs.

...

Privatizing money creation and giving too much power to the financial sector leads to an impossibly large debt. Who could have known :---DDDDDDDDDD??

That's a wonderful movie, so I'll allow it.

Just because you were a sperm in your dad's ballsack during Bush's term doesn't mean he didn't fuck up horribly by forcing America in two costly wars and cutting taxes for people who didn't need tax cuts.

>reporter
>knowing anything
>getting or giving honest information

>money

God here. What's money?

>trusting politicians to print money responsibly

Btw this is what Trump thinks of Bush

youtube.com/watch?v=H4ThZcq1oJQ

>Privatizing money creation
Nationalizing money creation would be the worst decision we could ever make.
As untrustworthy as these elite bankers are, they're still more competent than the government

>president A buys 10 machineguns to wage war, a thousand dollars each
>debt is increased by 10 thousand dollars
>dollar becomes inflated
>president B buys 10 machineguns to wage war, a hundred thousand dollars each
>debt is increased by a million dollars

They both did the same thing, but because of inflation you can now claim that B increased debt by 100 times more.

Money is a medium of exchange, a store of value, and a unit of account. Technically, anything that fulfills these requirements is money

which actually means it's much worse for a random peasant.

Taka pravda

>trusting banks
They have a terrible track record when they were allowed to run monetary systems.
They aren't.
And they only act in their own interest which is directly opposed to the general population's.

This.

I get most of you are too young to remember Bush Jr. but he massively failed his country and we are all paying for it.

I'm 39 you nigger. I lived through the bush years. Both of them

Also, why the fuck are you bringing up trump? That's a red herring fallacy at best. At worst, it's an appeal to authority. Are you saying I should listen to trump because he's an expert? Or do you admit that trump is irrelevant to this?