Obama Increased National Debt More in 4 Days Than Truman and Eisenhower Did in 10 Years
- Posted on August 10, 2011 at 6:11am by
Tiffany Gabbay
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Last week the Obama administration reportedly increased the national debt (in inflation-adjusted dollars) more in a mere four days than the administrations of Presidents Harry Truman and Dwight D. Eisenhower increased it from 1950-1960 — an entire decade.
CNSNews crunches the numbers:
At the start of business on Tuesday, Aug. 2, according to the Daily Treasury Statement, the national debt subject to the legal limit was $14.293975 trillion. Obama signed legislation that day lifting the limit by as much as $2.4 trillion—with an initial and immediate increase in the limit of $400 billion. By the close of business on Friday, Aug. 5, according to the Daily Treasury Statement, the national debt subject to the limit had grown to $14.536130 trillion.
Over just four days, the debt had jumped $242.155 billion.
By contrast, according to the Bureau of the Public Debt, over the ten-year period from the end of fiscal 1950 to the end of fiscal 1960, the national debt grew from approximately $257.36 billion to approximately $286.33 billion—an increase of approximately $28.97 billion.
Using the Bureau of Labor Statistics inflation calculator, $28.97 billion in 1960 dollars equals $220.92 billion in 2011 dollars.
Thus, the $242.155 billion in 2011 dollars that the Obama administration increased the debt between last Tuesday and last Friday is more in inflation-adjusted terms than the combined debt increases of the Truman and Eisenhower administrations in the ten-year period from the end of fiscal 1950 to the end of fiscal 1960.
That’s quite a legacy the President will be leaving…
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Comments (154)
JamesR
Posted on August 10, 2011 at 7:41amHe thinks he did the right thing because being on some sort of hand out all your life molds your way of thinking that it should always be at the backs of someone else.
Report Post »glashole
Posted on August 10, 2011 at 7:50amJamser, you are correct, and the masses need to get back to work. People say we can’t compete with China on manufacturing, I say they are wrong. We need our Mfg. jobs moved back here, customer service from India, back here. Non-union jobs, so that the employees can make a wage and not give good $ to corrupt, self serving unoin pigs.
Report Post »Rice Water
Posted on August 10, 2011 at 8:49am“Reagan proved it: Deficits don’t matter” –Dick Cheney.
Report Post »Cruzan
Posted on August 10, 2011 at 9:37amRicewater: are you suggesting that Obama is a republican?
Report Post »Rice Water
Posted on August 10, 2011 at 10:10amYes. That is exactly what I’m suggesting.
(cough)moron.
Report Post »michael48
Posted on August 10, 2011 at 10:47amrice water fell off the wagon…drinking out of the toilet again!!!…IDIOT!!!!!!!!!!!!!!!
Report Post »michael48
Posted on August 10, 2011 at 10:49amfulfilling the Lib-Tard mantra…we’re broke …SOOO, LET’S SPEND IT…he’s going to be such a good Comrade when he grows up…
Report Post »CptDustOff
Posted on August 10, 2011 at 11:29amI never really thought about it that way. The idiot has never had to pay his way.
Report Post »AvengerK
Posted on August 10, 2011 at 12:24pmObama is unteachable.
Report Post »LibertariansUnite
Posted on August 10, 2011 at 12:49pmNewsflash: Obama did not create a deficit. BIG GOVERNMENT created a deficit.
Yes Obama is a big government goon, but to suggest that it is simply his fault, is ridiculous.
I blame the Federal Reserve’s existance more than I blame Obama.
Report Post »JMorcan
Posted on August 10, 2011 at 1:22pm“People say we can’t compete with China on manufacturing, I say they are wrong.”
Glashole, do you have a proposal that will allow Americans to compete successfully against factory workers earning 50 cents/hour? Actually, I have friends in Chbnina who run factories like those, and even they frequently lose bids to major US retailers because they have to compete against Chinese prison factories where people work for nothing. So with that as the standard to beat, I’d like to hear how a factory worker in the West would earn a living wage.
Report Post »Jaycen
Posted on August 10, 2011 at 1:43pmHe IS a historic president, after all.
Report Post »Gold Coin & Economic News
Posted on August 10, 2011 at 3:02pmCan we all just say it together, LOSER!
Report Post »michael48
Posted on August 10, 2011 at 6:16pmhey “obimbo” it’s Wednesday…and it’s MY FAULT…
Report Post »gmoneytx
Posted on August 10, 2011 at 7:37amAnd Obama needs another round of golf!
Report Post »bigdog71360
Posted on August 10, 2011 at 1:13pmme too! just not with that a$$wipe!
Report Post »gmoneytx
Posted on August 10, 2011 at 7:37amMoochelle needs more fries, and a vacation.
Report Post »EP46
Posted on August 10, 2011 at 7:55amThey are suppose to be going on vacation this month to Martha’s Vineyard …courtesy of the $400,000 a year salary , plus government housing, plus food, plus transportation, plus expenses the tax payers ‘give’ them each year. See obama just want everyone to live like he does….on the tax payer dollar.
Report Post »gmoneytx
Posted on August 10, 2011 at 7:36amPookie needs more pie.
Report Post »BONETRAUMA
Posted on August 10, 2011 at 8:34amI would teel you cousin pookie has had about all the pie that mofo can eat
Report Post »Sicialian Eyeball
Posted on August 10, 2011 at 7:35amCommie Socialist criminal.
Report Post »Corco
Posted on August 10, 2011 at 9:34amIt is said that Russian Marxists brought down the Hungarian Pengo between the end of 1945 and July 1946 by causing hyperinflation. Hungary went through the worst inflation ever recorded in order to destroy the Hungarian middle and upper classes. Gee I am not sure but I seem to notice something similar going on. Nah… just another conspiracy theory.
Report Post »Living In NYC
Posted on August 10, 2011 at 7:33amOur money is like crack to Obama and his waterboys.
The more the get the more they want..They smoked so much money after the increasing of debt ceiling limit last week it was all “smoked” by the weekend! They partied liked it was 1999 instead of the depression of 2011!
Report Post »Obama Been Lauding
Posted on August 10, 2011 at 7:15amDeport all “Illegal Aliens”, and stop entitlements, education, health care, anchor babies, etc. for them, and our unemployment rate will go down, and our economy will realize $1-$2 TRILLION in savings!!!!!!!
Report Post »Moocephus
Posted on August 10, 2011 at 7:29amDont forget “Repeal Obama-Care”—Bam 3 trill back on the books!
Report Post »thomasdaddy
Posted on August 10, 2011 at 10:35amYu do realize that more illegals have been deported under Obama in his first 2yrs that in the 8yrs Bush was in office, right? That “$1 to $2 trillion in savings” does that include the cost to deport the illegals? Doubt it.
Moo….the cost of “obamacare” isn’t on the books yet, so, no $3 trillion won’t be “bam, back on the books” is repealed! But if you want another $3 trillion, just end the Bush tax cuts and BAM $3trillion over 10yrs off the books! LOL
Report Post »AvengerK
Posted on August 10, 2011 at 12:48pmReally Thomasdaddy? We don’t know any cost of Obamacare right now?
CBO director Doug Elmendorf testifying before a house budget committee in February this year:
Chairman [Paul] Ryan: “[I]t’s been argued…that the new health care law will create jobs and increase labor force participation. But if I recall from your analysis, it was quite the opposite. Is that not the case?”
Report Post »Director [Douglas] Elmendorf : “Yes.”…
[...]
Rep. [John] Campbell: Thank you, Mr. Chairman, we’ll — and Dr. Elmendorf — and we’ll continue this conversation right now. First on health care, before I get to — before I get to broader issues, you just mentioned that you believe — or that in your estimate, that the health care law would reduce the labor used in the economy by about 1/2 of 1 percent, given that, I believe you say, there’s 160 million full-time people working in ‘20-’21. That means that, in your estimation, the health care law would reduce employment by 800,000 in ‘20-’21. Is that correct?
Director Elmendorf: Yes. The way I would put it is that we do estimate, as you said, that…employment will be about 160 million by the end of the decade. Half a percent of that is 800,000.
Go back to your handlers Thomasdaddy and tell them they must give you better material to work with. You’re being humiliated here.
AvengerK
Posted on August 10, 2011 at 1:16pmThomasdaddy…Much like the killing of Bin Laden…the policies were already in place for more illegals to be deported. It hasn’t been any policy that Obama has initiated.
Report Post »■In 2005, the Republican-led Congress mandated that 652 miles of fence be built along the US-Mexican border. That fence is now 649 miles long, or 99.5% complete.
■There are almost 20% more border agents now than when Obama took office, bringing the number to an historical high.
■More illegal aliens are being deported than ever before, especially criminal aliens.
■Comparing 2010 to 2008: 31% more criminal aliens were apprehended; 38% more criminal aliens were processed for removal; 93% more criminal aliens were ordered removed; and 40% fewer re-entered the US.
Most of it was policy set in place before Obama took office. By all means if you can show me any new policy Obama initiated that is responsible for the increase in illegal criminal deporations I’m happy to review it.
thomasdaddy
Posted on August 10, 2011 at 1:24pmjerk,
Report Post »you are such a dumba$$!
“Really Thomasdaddy? We don’t know any cost of Obamacare right now? ”
It wasn’t about knowing what the cost will be! It was about the healthcares current addition to the deficit! Try to stay with me for a sec…..
Moo said: “Dont forget “Repeal Obama-Care”—Bam 3 trill back on the books!”
THOMASDADDY responded:Moo….the cost of “obamacare” isn’t on the books yet, so, no $3 trillion won’t be “bam, back on the books” if repealed!
Next!! Do you go out of your way to distort the truth to suit your bogus argument?? Lets see the facts about the jobs reduction stats you put up!
CBO: Health Care Reform Reduces “The Amount Of Labor That Workers Choose To Supply.” In August 2010 the Congressional Budget Office stated of the health care reform law:
The Congressional Budget Office (CBO) estimates that the legislation, on net, will reduce the amount of labor used in the economy by a small amount — roughly half a percent — primarily by reducing the amount of labor that workers choose to supply. [Congressional Budget Office, 8/10]
The CBO report … finds that health reform’s major effect on employment will be a small reduction in the amount of labor that workers choose to supply. For example, some people with pre-existing health conditions may choose to retire earlier if they can obtain health insurance coverage through the new health insurance exchanges and no longer have to wait until age 65 for Medicare. If peopl
thomasdaddy
Posted on August 10, 2011 at 1:29pmgerk,
Report Post »finanlly something we agree on! The deportation policies WERE already in place, but why did Obama follow it and Bush not so much?? The rest of your comment just proves my point! Obama increased agents and has actually made it a point to deport illegals! That’s odd for a far left marxist liberal dont you think? LOL
AvengerK
Posted on August 10, 2011 at 5:51pmOnce again Thomasdaddy you demonstrate your stunted intellect. The policies that set up more illegals being deported were not set up by Obama’s administration. Much like the draw down of troops in Iraq, it‘s Bush era policy that Obama’s attempting to take the credit for and you seem to have believed. I asked you specifically to provided even just one NEW illegal immigration policy by the Obama adminstration that resulted in the higher deportations..and not unexpectedly..you couldn’t provide one. You’ve lost this one…as usual Thomasdaddy. Go back to your handlers and tell them to give better material.
Report Post »AvengerK
Posted on August 10, 2011 at 6:08pmThomasdaddy.. Ignoring the obvious increase in Medicaid costs at the state level for now…
Report Post »Health and Human Services Secretary, the skeletal Kathleen Sebelius, testified under oath that the Obama administration purposely double-counted $500 billion dollars in Medicare cuts was the very same $500 billion dollars the administration said would be used to sustain the Medicare program.
Please don‘t insult anyone’s intelligence Thomasdaddy that this abysmal piece of legislation is fiscally responsible.
It has a clause whereby ALL physician owned hospitals cease construction beyond January 2011. Section 6001 of the health care law effectively bans new physician-owned hospitals (POHs) from starting up, and it keeps existing ones from expanding . You know who lobbied for that Thomasdaddy? The AHA (American Hospital Association..read: unionized). They wanted Barry to take out some of the competition. The AHA was a vocal supporter of Obamacare. What a superlative idea! Let’s throw thousands of construction workers out of work and make it harder to access quality medical care at the same time.
Dr. Michael Russell, president of Physician Hospitals of America, has filed suit to try to stop this selective building-ban from going into effect, says, “There are so many regulations and they are so onerous and intrusive that we believe that the section so no physician owned could successfully comply.
Give it up Thomasdaddy…in an intellectual shootout, you’re hoplessly outgun
GulfPeg
Posted on August 10, 2011 at 7:14amYou can certainly tell that Obama’s mother taught him NOTHING. He certainly has learned the mentallity of the “minorities” – that you have to grab everything you can because you are entitled to it.
Report Post »countryfirst
Posted on August 10, 2011 at 7:51amIf his mother tried to teach him something he didn’t listen, he liked what the true marxist & communest were saying. God help our children
Report Post »Anonymous T. Irrelevant
Posted on August 10, 2011 at 9:48amStanley Ann and her parents were communists, but it was Frank Marshall Davis who taught Obama the most. Stanley Ann just dragged him all over the world. Lolo taught him how to hate Israel. Frank taught him how to hate America. Cloward and Piven taught him how to destroy America.
Report Post »Viking64
Posted on August 10, 2011 at 7:04amObama is either the dumbest economic politician in world history or he is the clever progressive commi, who in a few short years of corruption has systematically brought the great republic to it’s knees thru planned destruction. Some things are to obvious to just be a coincident , he is sly as a fox I think, but unfortunately , he is wrong in his thinking,plans and radical ideology! America you had better wake up and fight back now.
Report Post »claymoremacm
Posted on August 10, 2011 at 7:08amprogessive commi
Report Post »AzCowboy
Posted on August 10, 2011 at 6:46amWatch the other hand, Hilary in the wings?
Report Post »Mateytwo Barreett
Posted on August 10, 2011 at 7:47amNotice how bottle jaw Kerry is alusudden making face time????
Report Post »GaryInTheMiddle
Posted on August 10, 2011 at 6:44amTime to fire this idiot! Impeachment NOW!!
Report Post »starman70
Posted on August 10, 2011 at 6:44amIT‘S ALL BUSH’S FAULT!!!!
required lower case.
Report Post »mutslie
Posted on August 10, 2011 at 6:43amHeh’…. no one voted that really counted in 08′
Report Post »…. ‘******* & espanics did‘ so what does one expect when a hybred turd’ gets the keys to the mansion?
he‘s done what all of em’ do spend up bigtime, ‘america is going where toilet paper goes…………
makom
Posted on August 10, 2011 at 6:41amCan you see it Yet? The Obama Plan is the Destruction of America. The Actions show it. His words show it. The results are showing it. The People see it and have REJECTED OBAMA AND HIS POLICY. The People don’t want a compromise. The People want the Destructive Policy of this Demonic Obama Administration STOPPED.
Report Post »GO-FOR-LIBERTY
Posted on August 10, 2011 at 8:23amObama has his own little flash mob going here. He belongs in jail for high crimes and misdemeaners.
Report Post »NOBALONEY
Posted on August 10, 2011 at 6:35amTruman- The buck stops here vs Obama- Blames everyone else.
Report Post »warner
Posted on August 10, 2011 at 12:58pmI think “Pass the Buck!”would be more appropriate!
Report Post »GERATMO
Posted on August 10, 2011 at 6:33amWhen I try to tell uninformed people this is happening, they dont believe me. I tell them to check for themselves but they would rather deny it blindly because they believe we should trust our elected officails. Hey, I just defined liberal.
Report Post »Phoenixsoulfire
Posted on August 10, 2011 at 6:50amThat is so sad. I wouldn’t trust any elected official they are all crooks except a very few but then they soon will be bought or forced in by the leaders of the party.
Report Post »Kevin The Elder
Posted on August 10, 2011 at 7:08amSadly, you have just portrayed the vast majority of our citizenry. Heck that even includes two of my three kids, who should be old enough to know better, and it’s not from a lack of trying on my part. They, along with their wives and children, ‘yes’ me to death and then go back home to their everyday family lives, which does not include paying attention to what’s really happening. I think they are pretty typical of the under fifty group; maybe typical of 90% of Americans.
Report Post »SHOWMESTATEGUY
Posted on August 10, 2011 at 6:33amObama has no experience in making honest money. He had somebody write a couple of books that he took credit for and now he is a millionaire. He must think that if somebody like him can get rich that quick then America must be the goose that laid the golden egg. He must have thought that he couldn’t spend enough of her money to get her into trouble. The goose has died.
Report Post »Mateytwo Barreett
Posted on August 10, 2011 at 6:30amBut- but! He ‘herited”, It would have been some much wor- – -This clown is as bad as an ex with a real nasty attourney!
Report Post »YepImaConservative
Posted on August 10, 2011 at 6:25amEisenhower… a 5-Star General.
Obama… a five dollar man in a five hundred dollar suit.
Obama wouldn‘t have been fit to shine the man’s shoes. But he sure is fit to shine us on.
Report Post »GayDem4Beck
Posted on August 10, 2011 at 6:40amG. W. Bush wasn’t much better, he spent half as fast as Obama is now.
Report Post »Phoenixsoulfire
Posted on August 10, 2011 at 6:47am@GayDem4Beck that is so true. obama’s way of fixing the problem was spend faster lol they both suck imho.
Report Post »Hisemiester
Posted on August 10, 2011 at 11:25amno no
Report Post »Obama a five star demon. He hates dose whiteys. If he could he would cut out his white side from his body. I just wish he would succeed.
Phoenixsoulfire
Posted on August 10, 2011 at 6:23amIt is amazing people still don’t know this. I mean this shouldn‘t be news anymore should be already taught in schools on how this man is a complete failure and shouldn’t even be allowed in the white house. Way to go odumbo for destroying many many lives in your search for a marxist utopia.
Report Post »ru12
Posted on August 10, 2011 at 6:31amThere is some indication that MSM is finally seeing the flaws and may soon fall out of love. In so many ways this kinda reminds me of my nephew’s great disappointment when the world learned Milli Vanilli was lip-synching….
Report Post »Mateytwo Barreett
Posted on August 10, 2011 at 7:45amTaught in schools? Really. Now where would they teach this class? Next to ther O’Bama statue in the main hall? When would they teach it- before or after putting the condom on the cucmber? Who would tach it, the NEA member that has already said he’s their man?!?!
Report Post »Steve
Posted on August 10, 2011 at 6:22amAnd yet our leader keep him in office. Impeachment is well over due. I’m afraid your correct MOP
Report Post »Bill Rowland
Posted on August 10, 2011 at 12:35pmThe house can impeach but the senate must hold the trial – do you honestly think that Hapless Harry and his liberal minions would convict.
Report Post »It would just be a waste ot money and of time that should be spend trying to solve the mess they created.
Shiroi Raion
Posted on August 10, 2011 at 6:22amIs there a Guinness Book of World’s Worst Records?
Report Post »rodamaa
Posted on August 10, 2011 at 6:21amAnd to think he has a year to finish the job.
Report Post »Mop
Posted on August 10, 2011 at 6:17amCan you hear that? It’s the sound of America ending..
Report Post »GERATMO
Posted on August 10, 2011 at 6:40amTrue but a new beginng is around the corner. I hope…
Report Post »Grasshopper42
Posted on August 10, 2011 at 6:17amThere is no spoon – there is no money.
Report Post »