Business

This Dismal Chart Demonstrates What the Obama Budget Will Do to the National Debt in 4 Years

The Senate Budget Committee Republican staff under Ranking Member Jeff Sessions [R-AL] on Thursday released this really, really gloomy chart:

This Dismal Chart Demonstrates What the Obama Budget Will Do to the National Debt in 4 YearsThe national debt will surpass $20 trillion by 2016?

“On the heels of yesterday’s Congressional Budget Office finding that the U.S. will experience its fourth consecutive deficit in excess of a trillion dollars this fiscal year, it is worth examining what the President’s budget proposes for the next four fiscal years,” Sen. Sessions office said in a statement.

Aided by data from the Treasury and the OMB’s Fiscal Year 2013 Mid-Session Review, the senator’s office compiled the following list of startling facts:

  • Under the President’s budget policies, federal debt will increase to $25.4 trillion by the end of 2022, an increase of $10.6 trillion (72 percent).
  • Federal debt at the end of the current fiscal year will stand at $16.2 trillion—$6.2 trillion above where it was 4 years earlier.
  • In the last 4 years, the debt increased by more than it did in the previous 17 years.
  • The $1.8 trillion in tax hikes in the President’s budget finance $1.4 trillion in spending above projected growth, not deficit reduction.
  • Debt will remain permanently elevated above 100 percent of GDP — a level of debt that economists believe results in weaker growth and millions of lost jobs.

Meanwhile, it’s been over three years since the Democrat-controlled Senate has passed a budget.

That is all.

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Comments (45)

  • RLNoland
    Posted on August 24, 2012 at 3:27am

    Was watching Discover channel about the distance between the Earth and our nearest star. I quote “The distance is unimaginable and mind boggling” Over 16,000,000,000 miles. Dose anyone think a $16,000,000,000 dept is OK?

    Report Post » RLNoland  
  • Jerry Frey
    Posted on August 24, 2012 at 1:16am

    Sooner or later, it’s going to come crashing down and the politicians can point the fingers of blame at themselves.

    Report Post »  
    • Halloween
      Posted on August 25, 2012 at 6:50pm

      You’re a fool! The politicians want this country to go broke, they will not regret anything rather they will celebrate the transformation to socialism.

      Report Post » Halloween  
  • ObserverOnTheHill
    Posted on August 23, 2012 at 10:49pm

    What’s the difference between Obama supporters and Romney supporters ?

    Romney supporters sign their checks on the FRONT

    Report Post »  
  • Freedom Keeper
    Posted on August 23, 2012 at 9:53pm

    In the past couple of weeks, since Mitt Romney’s vice presidential announcement, the mainstream media has been doing its best to distract voters from the real issues. While leftist media – such as the Huffington Post – have been focusing on Paul Ryan’s fitness, lack of a tailor, or love of “Rage Against the Machine,” conservatives have been hard at work informing voters on the facts. While his reasoning for staying healthy comes from personal loss and tragedy – and has helped shape his character – he’s not running on his BMI or his musical preferences. He’s running on his record as a strong conservative leader. In his district, he got people who had voted for Obama, Clinton and Gore to also vote for him, and 1 in 5 Obama supporters split their ticket and also voted for Ryan. He’s got a 63% reelection average in his district. Why? Because his policies make sense!
    http://oleglorynews.com/2012/08/23/paul-ryan-the-facts/

    Report Post »  
  • mtsnj
    Posted on August 23, 2012 at 8:29pm

    Our Congress has a lot of nerve. We need to vote them out and keep voting them out until they get it under control. Congressional Reform…Term limits, no pay, no pension, no healthcare, no budget no re-election.

    Report Post »  
    • MCDAVE
      Posted on August 23, 2012 at 10:23pm

      they are all stealing fortunes and don’t care

      Report Post »  
  • iamhungry
    Posted on August 23, 2012 at 8:03pm

    firstly, the y axis compression gives a false impression. secondly, what does romney’s budget do to the debt?

    Report Post »  
    • texastommy
      Posted on August 24, 2012 at 8:28am

      So, you’re ok with a 25% increase in 4 years? Vote for the guy. I want this to be your fault.

      Report Post »  
  • universalphilos
    Posted on August 23, 2012 at 7:29pm

    A prophecy November 1, 1975: “We say unto you, hark, for we bring not unto thee the tidings thy wish to hear. We have spoke unto thee before of the coming of the famine, and we have told unto thee the time is now, and we have said unto thee a part of your book of Revelations.
    As we have told you before, the city of New York would fall and crumble, therefore, unto dust. And for those who would trade with her, they shall back away and look at her. And so shall be the beginning of a new beginning. If you run in fear as you see one great city upon another fall, then fear is all that you will have. We say unto you, stand fast, for much as your phoenix bird that should rise from the ashes, so shall the civilization of man in this land rise once again….
    Your inflationary depression walks hand in hand with your Fifth Angel, that now walks upon the ground, and man should wallow in its pity.
    For those of you who should fall, yet not rise, there shall be no more. But for those who shall stand, fall, and stand again, the storm should soon pass over and beyond them. And the country should rise in strength once again. We have said unto you that these years should be lean years.”

    Report Post » universalphilos  
  • 3monkeysmomma
    Posted on August 23, 2012 at 7:13pm

    Hey Blaze, can we get an article on what ROMNEY”S budget will do to the national debt?

    Pretty please?

    No? I thought not. Ok, everyone blindly vote for the RINO and go back to sleep. Clearly we don’t really care about the national debt as long as the guy with nice hair remembers which hand to place over his heart during the pledge.

    Report Post » 3monkeysmomma  
    • avgconservative
      Posted on August 23, 2012 at 7:23pm

      3Monkeys

      I just love to see idiots like you post on here. All that has to be said is Romney’s quote, “I will repeal Obamacare.” There, that knocks 70% of the debt your Odummy wants to borrow from the Chinese.

      You dumb A$$.

      Report Post » avgconservative  
    • Normanator01
      Posted on August 23, 2012 at 7:48pm

      good question…….but not an honest one, since you answered it yourself.

      Report Post »  
    • therealconservative
      Posted on August 23, 2012 at 8:46pm

      @3monkey

      How about showing us a the budget plan that Ron Paul has submitted to the House and PASSED

      Report Post » therealconservative  
    • Sirfoldallot
      Posted on August 23, 2012 at 9:40pm

      @3monkeys – being a troll like u, do u even know how 2 budget ur house whole, or 4 that matter do u have a house or a checking account ? We know ur short funded in the mind.

      Report Post » Sirfoldallot  
    • Kristina In Americaland
      Posted on August 23, 2012 at 9:58pm

      Is Obama desperate enough to start a war to win this election?

      Hell Freezes Over: Chinese State Run Media Get it 100% Right…

      http://kristinainamericaland.wordpress.com/2012/08/22/hell-freezes-over-chinese-state-run-media-get-it-100-right/

      Report Post »  
    • Jeff NH
      Posted on August 24, 2012 at 7:14am

      @avgconservative,
      Even if we believe repeal & *replace* eliminates 100% of the cost of Obamacare, believing that it cuts the deficit by 70% is magical wishful thinking that is not even close to inline with the unrealistically optimistic projects of Paul Ryan’s plan (which is more aggressive than Romney’s plans).

      It is worthwhile to attack current spending/debt levels but hoping that unicorn farts are going to solve our debt problems is wishful thinking.

      Estimated debt by 2016 under Ryan’s plan is also right around 20 trillion.

      Report Post »  
    • avgconservative
      Posted on August 24, 2012 at 7:12pm

      Jeff NH

      You are another liberal troll dumb A$$. You don’t even know what you are talking about.

      Case in point: I said, “… that knocks 70% of the debt your Odummy wants to borrow from the Chinese.”

      You retorted: “Even if we believe repeal & *replace* eliminates 100% of the cost of Obamacare, believing that it cuts the deficit by 70%…”

      Do you EVEN know the difference between national debt, borrowing debt, and deficit spending?

      See… this is what dumb A$$es like you do. You pick apart a straw man… a scarecrow.

      Well, listen… You liberal idiots may have gotten away with your twisting of facts for a long time, but not any more. The conservative juggernaut giant is awake and ready for your lame excuse of brain activity.

      Report Post » avgconservative  
  • slvrserfr
    Posted on August 23, 2012 at 7:08pm

    That would easily bring the debt to GDP ratio to climb to nearly, if not breach 150%. Government default and a significantly lower credit rating would imminently follow.

    Report Post »  
  • Wango
    Posted on August 23, 2012 at 6:43pm

    Try this one instead. Much more accurate.

    http://www.snopes.com/politics/politicians/nationaldebt.asp

    Theeeeeere you go. Now you see.

    Report Post » Wango  
    • Jeffersonian in CA
      Posted on August 23, 2012 at 7:07pm

      @OWANGO
      Put some $ to those percentage numbers on your SNOPES link and you get the truth.

      Everyone knows that SNOPES isn’t at all biased.

      Report Post » Jeffersonian in CA  
    • Sirfoldallot
      Posted on August 23, 2012 at 7:11pm

      He has 2 use a decade ago pesidents budget 2 run on !! jajaja,hehehe, hahaha , lmao, lol, lmao Wango ur a loser like him.

      Report Post » Sirfoldallot  
    • azcowboy1
      Posted on August 23, 2012 at 7:21pm

      Wango, I went to that web site and viewed the graph. I thought it was interesting and began reading their script. I was doing fine with it until the name Nancy(pass it before ya read it) palousy. At that point I knew it’s BS… Sorry Charlie I ain’t going for it…

      Report Post »  
    • DLV
      Posted on August 23, 2012 at 11:35pm

      wango- another fail of a post. You’re on quite the roll tonight. This is obviously a lie. Even if I take on face value that Bush spent more than Obama (which he didn’t) there is no way Reagan outspent Bush. This is false in every way you look at it. Liberals are all for expanding the role of government which means more spending which means more debt. You don‘t need a graph for that it’s common sense. It’s like your trying to make the case that liberals are trying to lessen the role of government lol! Fail! Fail! Fail! Next time I’ll have to do a Picard face plam.

      Report Post » DLV  
    • texastommy
      Posted on August 24, 2012 at 8:32am

      Hey Wanker, if you had a clue you’d know that this means The One has increased it 35% MORE than what Bush did. His percent is on top of Bush’s. But, you’re just quite not smart enought to get that. Like somebody else said, put numbers to those percentages and you’ll see the real picture.

      Oh, and then overlay who ran the House. That’ll bring in some real focus for you. Putz.

      Report Post »  
    • scinqmars
      Posted on August 24, 2012 at 1:17pm

      Wango, nice try to distract and distort, but the are some major flaws in those numbers you linked to. Even if I accept that all of those numbers as fact, the article was from 1.5 years ago, and the B.O. dept has steadily climbed since then. So in 3.75 years, B.O. has increased the Federal Debt by $5.355 T, to $15.983 T, which is an increase of 66% in his first term, and 104% of GDP. Under Bush 43 the debt to GDP ratio was 66%. So lets look at the up to date numbers instead.

      R.R. – $848 B increased to $2.698 T over 8 years with a Dem controlled House and Senate = 218 %

      Bush 41 – increased that to $4.188 T over 4 years = 55 %

      Clinton – increased that to $5.728 T over 8 years (with a Rep controlled House & Senate) = 36 %

      Bush 43 – increased that to $10.627 T over 8 years (with a Dem controlled House & Senate during the last 2 years, which by the way were the years with the highest deficits) = 85 %

      B.O. – increased that to $15.983 T over 3.75 years (with a Dem controlled House & Senate during the first 2 years, and Harry Reid’s refusal to pass any budget that reduces the deficit) = 66 %

      So if you take into account the increasing interest (even if the interest rate stays the same) on the debt, and the current rate of spending, B.O. will increase the debt by well over 132 % over the next 4 + years, if re-elected to a Dem controlled Senate. If that happens, our Fed Dept by the end of his 8 years in office will be over $22 T. That is 143 % of GDP, vs. Bush 43′s

      Report Post »  
    • avgconservative
      Posted on September 3, 2012 at 10:01am

      Fail!

      Report Post » avgconservative  
  • Rothbardian_in_the_Cleve
    Posted on August 23, 2012 at 6:23pm

    To be fair, the Romney chart looks about the same.

    Report Post » Rothbardian_in_the_Cleve  
    • Useful_Idiot
      Posted on August 23, 2012 at 7:01pm

      Romney has never been President, genius. Try again.

      Report Post »  
    • Jeffersonian in CA
      Posted on August 23, 2012 at 7:08pm

      @ Barbarian in the Cave

      Come out from under your rock pal, you need some sun.

      Report Post » Jeffersonian in CA  
    • Rothbardian_in_the_Cleve
      Posted on August 24, 2012 at 12:53am

      Um, seriously…what the heck are you drinking. I never said POTUS. I’m talking about the debt forecast for the next 4 years (like the chart above) under the proposed Romney policies and/or Ryan budget.

      Do you geniuses really think we’re going to balance the budget? Do you even think the Romney plan seriously departs from the forecast in that chart above?

      Crawl out from under a rock?! Please. You RINO’s just make up crap based on what you have convinced yourself to be true. Get a grip on reality.

      Report Post » Rothbardian_in_the_Cleve  
    • scinqmars
      Posted on August 24, 2012 at 1:35pm

      Rothbardian, you have a somewhat valid point here. Neither B.O. or Romney will ever pass a balanced budget, but there is one difference between the two.

      B.O. plan will have yearly Trillion dollar plus deficits all the way until he is long out of office, with a total of $22 T in Federal dept.

      If Romney does institute the Paul Ryan plan and serve 2 terms, by 2022, the Federal dept will be about $20 Trillion, and be much closer to a balanced budget.

      So the question you have to ask yourself is do you want $22 T in Fed debt by 2016 or $20 T in Fed debt in 2022?

      Report Post »  
  • nobull14
    Posted on August 23, 2012 at 6:22pm

    How many times can you see this stuff ? and still vote for that moron in the white house.Is half of the American people really that stupid.?

    Report Post »  
    • Incredulous321
      Posted on August 23, 2012 at 8:51pm

      Yes they are! I just finished arguing with my liberal brother and his wife. They believe so many boogy man stories it’s unreal. You can’t talk facts with them. They ignore facts. They get their fantasies from the L.A. Times, and local L.A. news. The #1 thing they don‘t get is that if the debt isn’t gotten under control there won’t be any SSI, Medicare, or any other benefits. No jobs, no growth, and possibly civil war. They don’t care because they are jealous of the rich. They believe taxing the rich will save benefits for everybody. But we paid into the system! They don’t get that that money is gone! I haven’t seen new stats with the explosion in SSD. It can’t be good. Nothing I say makes the slightest difference in their opinions. No facts, plans, policies, statistics, history, nothing. So yes, while these are not stupid people, my brother and his wife, they are that stupid. Too busy watching the latest crappy TV show to change their paradigm with a little research. China’s economy is faultering. That’s historically inevitable. Who are we going to start borrowing from next? Maybe Sweden can lend us a few bucks.

      Report Post » Incredulous321  
  • 00100111
    Posted on August 23, 2012 at 6:22pm

    Wasn’t he the jack wagon that said $4B in 8 years was “unpatriotic”? OH, that’s right. Wasting money is perfectly find when Dims do it.

    Report Post »  
  • yiska8
    Posted on August 23, 2012 at 6:20pm

    The question is, who will own America after 2016? The American people don‘t own it anymore and haven’t for a long time. I don’t care who is in power, Dem or Repub, this mess cannot possibly be corrected by any one man or administration. This debt will be worked off the backs of innocent Americans. Pure economic tyranny. This is Obama’s economy. He‘s the new massir’ and America is his own personal plantation.He’s creating our future by destroying the economy now. He’s taking away choices by his actions now. He’ll leave in 2016 if he wins another term far better off than when he came into office and live very well,while most Americans will be utterly enslaved to poverty and he’ll probably get another nobel peace prize for his “work”.

    Report Post » yiska8  
  • MODEL82A1
    Posted on August 23, 2012 at 6:12pm

    Just waiting for the first use of “Quadrillion” by the regime. If they can get that introduced into common usage, they’ll be able to express these mindbogglingly huge numbers as just a small percentage of a Quadrillion.

    Report Post » MODEL82A1  
  • TRONINTHEMORNING
    Posted on August 23, 2012 at 6:11pm

    And to the polls we go! Out with the swine!

    Report Post »  
  • Impenitent
    Posted on August 23, 2012 at 6:08pm

    does this take into consideration all the doctors who will leave the country and the others who will have their wages slashed by obamacare?

    Report Post »  
  • Zeb
    Posted on August 23, 2012 at 6:07pm

    BRILLIANTLY EXPLAINED

    This rather brilliantly cuts thru all the political doublespeak we get.
    It puts it into a much better perspective.

    Lesson # 1:

    * U.S. Tax revenue: $2,170,000,000,000
    * Fed budget: $3,820,000,000,000
    * New debt: $ 1,650,000,000,000
    * National debt: $14,271,000,000,000
    * Recent budget cuts: $ 38,500,000,000

    Let‘s now remove 8 zeros and pretend it’s a household budget:

    * Annual family income: $21,700
    * Money the family spent: $38,200
    * New debt on the credit card: $16,500
    * Outstanding balance on the credit card: $142,710
    * Total budget cuts so far: $38.50

    Got It ?????

    OK now Lesson # 2:

    Here’s another way to look at the Debt Ceiling:

    Let’s say, You come home from work and find there has been a sewer
    backup in your neighborhood….and your home has sewage all the way up
    to your ceilings.

    What do you think you should do …… raise the ceilings, or pump out the crap?

    If you think the answer is pumping out the crap………………Election Day is only 90 some days away!!!!!

    Report Post » Zeb  
  • ALL4114ALL
    Posted on August 23, 2012 at 6:06pm

    Old news!

    Report Post »  

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