National Debt by President (Reagan through Obama)

Graph links: http://bit.ly/DebtChart & http://bit.ly/USdebtPicture

Link to source (Congressional Budget Office): http://www.CBO.gov or

http://bit.ly/CBOreports

or http://cbo.gov/publications/bydoctype.cfm?dtype=9

Link to this YouTube page: http://bit.ly/DebtRecord

The CBO is like the congressional referee that doesn't take sides; left or right.

Just like a weather forecaster helps us plan ahead,

the CBO projects budget numbers at the beginning of every CALENDAR year, based on current law, to help lawmakers plan ahead.

The FISCAL year runs from October 1st through September 30 of the fiscal year.

Example:
FY 2009 is

10/01/2008 - 9/30/2009

Reagan was handed a National Debt of 1 Trillion Dollars and in January 1989, he handed Bush Sr. a 2.9 Trillion End-of-FY 1989 CBO Projected Gross Federal Debt.

Bush Sr. handed Clinton a 4.4 Trillion End-of-FY 1993 CBO Projected Gross Federal Debt.

Clinton handed Bush Jr. a 5.6 Trillion End-of-FY 2001 CBO Projected Gross Federal Debt.

Bush Jr. handed Obama an 11.5 Trillion End-of-FY 2009 CBO Projected Gross Federal Debt.

Through Fiscal Year 2010, you get these results:

Obama's Debt Contributions -- 2 Trillion

Bush Jr's Debt Contributions -- 5.9 Trillion

Clinton's Debt Contributions -- 1.2 Trillion

Bush Sr's Debt Contributions -- 1.5 Trillion

Reagan's Debt Contributions -- 1.9 Trillion

At this pace, if Obama is re-elected, he will hand the next President a 20.9 Trillion End-of-FY 2017 CBO projected Gross Federal Debt;

contributing a TOTAL of 9.4 Trillion to our National Debt.


We have to work together to create/pass MEDIUM & LONG term plans to bring down our spending and national debt, without cutting much right now, so that our fragile economy can continue to recover and we can get back to FULL employment.

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[scepticsteve]

I agree with most of what you show. Clinton NEVER had a single year of surplusses if you look at national debt and not accounting tricks (robbing trust funds and replace them with IOUs). And it's a mystery why the fans of big spending suddenly like that Clinton lie about surplusses.

The fact is that presidents don't make budget laws. Congress does. For example Reagan didn't get a single budget through a hostile congress. Still, at the end of his term percentage of fed gov was slightly smaller.

[OversightOfGovt]

@scepticsteve I need to update the video.

OBAMA's debt is up to 3.3T as of 9/30/11

Thanks to BIPARTISAN COOPERATION however, Obama, if reelected is projected to add 7.4 TRILLION to our debt, which is DOWN SIGNIFICANTLY by 2 TRILLION just from JANUARY 2011 CBO projections of 9.4 TRILLION.

While you're DEFINITELY CORRECT that TRUST FUND surpluses (mainly SS) get SPENT, the "total deficit" is made to look smaller, and what's owed to the TRUST FUND is simply put on our NATIONAL CREDIT CARD,...

[OversightOfGovt]

@scepticsteve

...of the 4 SURPLUSES that CLINTON had, 3 of them were REAL.

Here are the numbers:

FY 98 --TOTAL surplus: 70B, before Trust Fund Surplus is added: -29B DEFICIT

FY 99 --TOTAL surplus: 124B, before Trust Fund Surplus is added: 1B SURPLUS

FY 00 --TOTAL surplus: 236B, before Trust Fund Surplus is added: 86B SURPLUS

FY 01 --TOTAL surplus projected (Jan. '01): 281B, before Trust Fund Surplus is added (projected): 125B SURPLUS

I used GROSS FEDERAL DEBT numbers in the video...

[OversightOfGovt]

@scepticsteve

....because you can't play tricks with that number EXCEPT the way REPUBLICANS attribute ALL of FY 09 debt to OBAMA,

when in reality, according to the CBO (JAN. 09), our GROSS FEDERAL DEBT was projected to be at 11.529T at the END of the Fiscal Year on 9/30/09; OBAMA turned in an 11.874T DEBT on that date.

The prior year on 9/30/08 our GROSS FEDERAL DEBT was at 9.986T. So BUSH was responsible for 1.543T of the 1.888T added to our DEBT in FY 2009; OBAMA: the remaining 345B

[nomicons]

Comic Sans doesn't help your credibility. Now I can't share this with anyone and expect them to take it seriously! This is the federal budget, not a lemonade stand!

[OversightOfGovt]

@nomicons Actually, the FONT used is "CHALKBOARD" not "Comic Sans"

So share away

The goal was to use EASY to READ font, since there's a bit of reading & comprehension necessary

[djvodkatwist]

Clinton was able to create his budget with a Democratic Congress. Republicans take credit after the fact. Bush had a Republican Congress to pass his budget- if Republicans are responsible in the least for the surplus Bush was handed- where did it go and why couldn't they do the same thing on their own?

Their policies were not meant to balance but to bankrupt the budget to force cuts to pension programs like Social Security and medicare.

[YIRMASTER]

@OversightOfGovt Once again trickery, Obama is playing games by accounting for most of his debt to be payable several years down the road after elections so that it APPEARS that he didn't add too too much debt but in reality you have to account for it originating from Obama's administration and the democrat congress who supported him to do more spending on credit where the bill doesn't come for a few years. Obama has added more debt to our nation than all previous presidents COMBINED!!!

[scepticsteve]

@OversightOfGovt As I said, congress is mainly responsible for budgets and spending. But I agree that Bush was a big spender. But we can hardly say "Republicans" are the ones to blame. Some are, but Democrats always have a supermajority of monster spenders. so Republicans are guilty, but Democrats are guilty as hell.

[scepticsteve]

@OversightOfGovt Sorry for bad format, I tried, but failed to accomplish a better view. But according to treasury

treasurydirect (dot) gov/govt/reports/pd/histdebt/h­istdebt_histo4.htm

not a single year the national debt didn't grow. just adding and subtracting positions leads you into the next accounting trick. Aggregated numbers show reality, imho.

[scepticsteve]

@OversightOfGovt I think that's wrong. Source is Treasury: Date   National Debt 09/30/2001 5,807,463,412,200.06 09/30/2000 5,674,178,209,886.86 09/30/1999 5,656,270,901,615.43 09/30/1998 5,526,193,008,897.62 09/30/1997 5,413,146,011,397.34 09/30/1996 5,224,810,939,135.73 09/29/1995 4,973,982,900,709.39 09/30/1994 4,692,749,910,013.32 09/30/1993 4,411,488,883,139.38 09/30/1992 4,064,620,655,521.66 As you can see, every single year the debt grew. Not a single real surplus