But Obama is not the villain in this story. Every time I step back and ponder this sordid history, I am amazed that the Republican Party has any credibility and even 100 members of Congress, let alone a sizable House majority and enough juice to be driving the nation’s agenda as it is.
The Boston Globe ran a chart last Sunday that I’d buy billboard space to reproduce in every decent-size city in America, if I were running the Democratic National Committee.
(Here's the chart to save your the trouble of searching for it.)
Oh, wait. I skipped someone. George W. Bush ran up $6.4 trillion. That’s nearly half—44.7 percent—of the $14.3 trillion total. We all know what did it—two massive tax cuts geared toward the rich (along with other similar measures, like slashing the capital gains and inheritance taxes), the off-the-books wars, the unfunded Medicare expansion, and so on. But the number is staggering and worth dwelling on. In a history covering 30 years, nearly half the debt was run up in eight. Even the allegedly socialist Obama at his most allegedly wanton doesn’t compare to Dubya; and Obama’s debt numbers, if he’s reelected, will surely not double or even come close as we gambol down Austerity Lane.
The GOP and the Teabaggers are going to use every one of their pet media outlets, from Fox News to Right Wing radio, to try and hang this debt crisis, and the lowering of our debt rating, on President Obama.
It is up to all of us, and what remains of the so called "liberal media," to continue pointing out who is REALLY responsible for this disaster.
And those responsible are the Republicans who increased the debt by 6.4 trillion dollars between 2000 and 2008, the Right Wing media that provided cover for them while they were doing it, and the Teabaggers who are now determined to fight this President every step of the way so that he cannot repair the damage, in the hopes that they can blame him for the whole mess in 2012 and put another GOP asshole in the White House to finish the job of bankrupting this nation once and for all.
(H/T to the Obama Diary.)
Part of the 2.4 Trillion of President Obama's debt was carry over from Bush...
ReplyDeleteNational Debt Increased by 75% under Bush:
2001 - $5.871 trillion
2008 - $10.640 trillion
National Debt Increased 25% Under Obama:
Jan 31st 2009 = $10.569-Trillion
Jan 31st 2011 = $14.131-Trillion
But of the $3.56-trillion increase, 98% was carry over from Bush programs:
Bush: $910-billion = Interest on Debt 2009/2011
Bush: $360-billion = Iraq War Spending 2009/2011
Bush: $319-billion = TARP/Bailout Balance from 2008 (as of May 2010)
Bush: $419-billion = Bush Recession Caused Drop in taxes
Bush: $190-billion = Bush Medicare Drug Program 2009/2011
Bush: $211-billion = Bush Meicare Part-D 2009/2011
Bush: $771-billion = Bush Tax Cuts 2009/2011
Bush's contributions:
2001 to 2008: $4.769-trillion
2009 to 2010: $3.181-trillion
Total: $7.950-trillion
Increase Since 2001 = $14.131 - $5.871 = $8.26-Trillion
Bush's contribution: $7.950-trillion / $8.26-Trillion = 96%
Obama only contribution: $580-billion = Stimulus Spending (as of Dec 2010).
Increase caused By Bush's Programs: 96%
Increase caused by Obama's Programs: 4%
We have to stand together and fight, if we don't this will be the beginning of the end of The United States. A Country can't be strong without education, their taking that away.I won't live in a controled dictatorship country like Iraq or Iran and thats where it's headed. Murdock and the Koch bros don't have enough money they want more and the power that comes with it.I'm not going to let it happen. These bastard communist that are trying to take over are not going to win. If Wisconsin can do it so can we.
ReplyDeleteThe biggest problem is that those who NEED to understand this graft are totally unable to figure it out! Plus, they don't need to think, they only need to listen to FAUX News.
ReplyDeleteThis chart is from the White House
ReplyDeletehttp://www.whitehouse.gov/sites/default/files/image/debt_chart_wh_0.jpg
Anon @ 8:18PM: I'm hoping that the American people remember who did this, next time we get to vote. If possible, where necessary, recall petitions should be issued and recall elections held.
ReplyDeleteProblem is, I'm not at all sure any new guys would be any better. I agree absolutely that the Republican Party is nothing more than a shill for the interests of the rich and the corporate, and that they're so scared of the Teabaggers that they willingly allow themselves to be hostages.
I also believe absolutely that the Democrats are or can be equally as hardline on the left. While the Republicans are going to have to accept tax increases, the Democrats are going to have to accept entitlement cuts.
The debt cannot be reduced with only one or the other - both have to happen. (Not that I'm happy about that, I'm a left-winger aging hippie, so you know where I stand.)
The Democrats machine did not turn out the vote in 2010 - but they sure did in 2008. When one looks at the GOP field, there will be few defections on the left, and seeing what the GOP has done since they took the House will make it hard to sway the center.
ReplyDelete40% of Americans self identify as conservative, but not all are GOP members. The centrists that did not vote for Obama may now realize that to return the WH to the GOP is asking for another October surprise to their 401K's.
Gains during the Obama administration were wiped out by the GOP. Since people vote their pocketbooks - gains made during the next 15 months will be hard to deny.
A lot of the reason why people don't acknowledge the Bush debt increase is because it was "no big deal" - nothing to report from Washington on a late Friday afternoon.
ReplyDeleteJust like Saint Ronny Reagan RAISING taxes several times during his administration. Oh yea - he wasn't raising taxes - he only removed the previously granted tax cuts.
It absolutely amazes me how many brain dead teabagger cousin humps think that Obama created ALL $14 trillion in debt. Honestly, how can you be that fucking dumb?
ReplyDeleteThe president and the Dems have GOT to do a better job at getting out this message. The goddamned GOP has convinced too many people that the Dems are the "tax and spend" party. NOBODY spends like the GOP.
The president and the Dems need to be MUCH more aggressive at making sure that people with brains understand that our debt is mostly the legacy of the GOP. They also need to replay Dickhead Cheney's words that deficits "don't matter."
I think the Dems lost the House because they let the GOP and the teabaggers ratfuck them during the healthcare debate. Quit trying to reason and compromise with the pissy toddlers in the GOP and hit back HARD.
Trying to play nice with the GOP schoolyard bully hasn't worked out so well for the Obama and the Ds so far.
Gryphen, you've probably gotten this request previously, but I think adding a plus/negative review to comments could only result in an overall plus of information for you.
ReplyDeleteI'm seeing comments by easily befuddled conservatives all over the internet, asking why Obama let the U.S. credit rating be lowered...so I assume Fox TV is spreading the BIG LIE again, as they do so effectively.
ReplyDeleteThe reason so many of them think the entire deficit was racked up by Obama, is that this is what is inferred by the rightwing propanda machine.
And FIXING that misconception is not going to be easy: I've been in households where Obama comes on TV to tell us something important, and the homeowner runs to the TV to turn it off.
They won't even listen to their President, and will doubtfully listen to anyone else that doesn't have a southern accent and sounds like they have sex with their sisters.
What can we do? Tour the U.S. and get these dummies alone, and wrestle them to the ground and MAKE them hear the truth?
Or, do we have no choice but to wait until things get so bad, for them and us, that it finally dawns on them, that they've been thoroughly HOSED?
It doesn't matter.
ReplyDeleteThe media is already reporting it as "first time in U.S. history under Obama's watch".
And that's how the Republicans will spin it from now until the 2012 elections.
If graphs, charts or facts had any weight, we wouldn't have the current debt deal and the fascist takeover, I mean, super congress committee whatever the name du jour.
We know this is all Bush's fault. The debt. The lack of revenue. The crash. Deregulation. Even Citizen's United can be traced back to him (Supreme court nominations)
We let it happen.
We let them steal the election in 2000. We let them again in 2004.
Obama doesn't not have the strength of leadership or the firmness of hand to discipline his own party. Without that, he can't hope to do anything against the obstructionists. He squandered his supermajority.
He'll be blamed.
Even with the piss poor g NO p candidates, Obama may be a one term president.
Be very afraid if he runs against Bachmann.
My biggest concern with this Administration is it's inability to gain traction on these facts. They are so consistent with "no drama" that it seems to impair their efforts at putting on a "good fight."
ReplyDeleteThank you Gryphen! I swear, if you didn't seek this stuff out, you'd never know.
ReplyDeleteI get so sick of hearing the Faux news watchers who think Dubya/ Republicans are saints and Obama is out to take this country down, when simple graphs like this so easily tell the real truth.
But it is frustrating that the people who need to see this the most don't and won't see it.
But you are right, we need to do our part in getting it out there. I will do my part. I converted one kid, an intern, who's family is a bunch of tea baggers, and after many many many conversations over a period of several months, he slowly came around. He was raised to believe that liberals are bad people: heathens, baby killers, etc. He not only no longer thinks that, but actually agrees with many progressive points of view and will now research instead of blindly following the pack.
Do not believe any Tea Party or Republican "patriot" politician who tells you they love their country after what they've done to it. The worship of Ronald Reagan is totally bizarro. He was a major contributor to the current economic disaster. As far as we can tell, the S&P downgrade is only the start of the bad news unless your politicians start working together to save your country. I don't believe they can keep fiddling while America burns - the 2012 elections are very far away and a lot of really bad news can be created in the intervening months. Americans should be furious over what their politicians have done to them.
ReplyDeleteA Canadian
Thank you for highlighting this.
ReplyDeleteAnon 8:08 - What an excellent analysis! 96% of the deficit increase courtesy of the Bush and Repub programs. What I can't understand is why this isn't reported as a given fact in the media nor touted by the dems.
ReplyDeleteWatched the documentary "Inside Job" the other day about the financial and economic meltdown.
ReplyDeleteOnly the ignorant blame Obama for this.
Per the comment @10:15, Gryphen, I'm glad you DON'T have a + or - rating for comments. I really hate those. And on this blog I don't think they are necessary anyway.
ReplyDeleteJust wanted to add my opinion. Thanks!
Do you really think that the majority of the sheeple care where the debt came from as they feed on Big Pharma's poisoned trough? They will hang it on whoever occupies the first chair at any given time cause that doesn't take any thinking ability.
ReplyDeleteEducation has been dumbed down- to make pols like GW look like intelligent men. When in fact they are nothing but stupid scumbag dry drunks with silver spoons in their mouths. Is anyone but bloggers commenting on how drug addicted $P looks lately?
Don't look to the sheeple to wake up and fix this anytime soon.
"9:25 PM"
ReplyDeleteOk beckyboy or brightweinerfart
I read this posting last night before any comments were posted. I am surprised that there are so few comments. It looks like people are more interested in Bristol's new chin.
ReplyDeleteI have never been a fan of the tea party, but it looks to me like this information will help their cause.
I always saw the tea party as more about the last president rather than the current one. It is a civil war within the Republican party. The tea party hated what George W. Bush was doing. They are fighting for the soul of the Republican party.
Won't this information make it more likely that the tea party will win the soul of the Republican party?
Our expenses are twice our revenues. The answer is not to cut our expenses in half (which we can't do anyway) because then we'd just break even.
ReplyDeleteWe also have to raise revenues.
That means ending the tax cuts we couldn't afford to begin with and closing the obscene tax loopholes everyone knows about and Bernie Sanders specifically referenced.
Duh.
The only way to pay down the debt is to have revenues HIGHER than expenses. And you won't get those by cuts only.
It doesn't take a rocket scientist to understand this. Any housewife that pays the bills and balances the checkbook for the family knows this.
I think our problem is we have too many rich, old, white men in Congress and not enough Grandmothers. (They know a lot about discipline too. They'd handle the TEAliban and freshmen Republibaggers too.)
If people actually believe it's President Obama fault then they deserve leaders like palin, walker, mccain, tangerine man, cantor, mcconnell, west, christie, etc.
ReplyDeleteGoL
If you look at the first chart in closeup, you'll see that the deficits occur mostly when both the house and the senate are Democratic majorities. That doesn't look good.
ReplyDeleteThat isn't to say the minority Republicans weren't still in charge forcing their agenda, as we've seen in the last decade.