National debt soars under Obama

In 2008, America elected a smooth talker who had never run so much as a Lemonade stand. When Obama took office on Jan 20, 2009, the U.S. had a national debt of $10.627 trillion.  As of January 20, 2017, we have a debt of $19.947 trillion, an increase of $9.32 trillion (87.7%) in 8 years.(1) See chart below.

Another way to view Obama’s catastrophic economic policy is the National Debt to Gross Domestic Product (GDP) ratio.(2) The closer to zero, the better. See chart below.

Debt_chart.jpg

 
 

Bankrupting the economy is not the way to save the economy. Deficit spending of this magnitude - with no end in sight - does NOT bring economic prosperity - it brings on bankruptcy! 

Some people believe Obama has done the best he could given the mess he inherited from Bush. NOT TRUE. Reagan inherited a mess from Jimmy Carter in 1981 but turned the economy around and rebuilt our military without bankrupting the country.

Year
Inflation(3) yearly
Unemployment(4) Oct
1980
13.58%
7.5%
1984
4.3%
7.4%
2008
3.85%
6.5%
2012
2.07%
7.9%
 
 
 
 
 

Obama’s catastrophic economic policy has made a bad situation far worse. According to the Census Bureau, the average American household - adjusted for inflation - earned 4.4 percent less in June 2013 then in June 2009, when the recession officially ended.(5)

Obama is the most reckless spender in American history. His refusal to make real cuts in spending - except for our defense - has left our country in a colossal mess.

Sources: 
1. http://www.treasurydirect.gov/NP/BPDLogin
?application=np
2. http://www.usgovernmentspending.com/spending_chart_
1792_2016USp_XXs1li111mcn_H0f_US_Federal_Debt
_since_the_Founding
3. http://inflationdata.com/Inflation/Inflation_Rate/
HistoricalInflation.aspx
4. http://data.bls.gov/pdq/SurveyOutputServlet
5. http://www.cnbc.com/id/100980411
 
 
 

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by an increasingly authoritarian government.

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