Ticket Replay: Obama spending stimulates the national debt by $3,039,000,000,000
During the holiday season, as in years past, The Ticket is republishing some of our favorite items from the previous political year. This story was originally published on Oct. 19, 2010
No wonder the president's wife is passing the hat to his supporters asking for $3 campaign donations. Have you seen the size of the national debt? It's a new record.
The United States of America now owes someone(s) $13,665,000,000,000.
By 2012, when Hillary Clinton next challenges Barack Obama for their party's presidential nomination, the national debt will be even larger than today's record -- $16,500,000,000,000, according to current federal estimates. That's more money than the entire United States economy produces in a complete year.
That's also way more money than either Obama or Clinton spent to win the Democratic nomination in 2008.
This stunning debt news comes to us courtesy of Mark Knoller of CBS News, who is the White House press corps' chief cruncher of all things numbers.
Knoller has also figured out that during Obama's presidential watch, the....
Obama prefers to lay the blame or credit for this gargantuan spending increase at the cowboy-booted feet of his Lone Star Republican predecessor. During George W. Bush's Oval Office tenure, the national debt increased more -- by $4.9 trillion, in fact.
However, Bush took 96 months to do that.
Obama has accomplished his spending feat in less than 21 months. Under his spendership the national debt has grown about $4.8 billion every day since he took the oath of office twice, just to be safe.
Just imagine the dough Obama could push out the door given another two years of partnership with Democratic congressional leaders like Nancy Pelosi and Harry Reid.
Those Democrat majorities controlling Congress since 2007 didn't have time to get around to passing a federal budget this fiscal year, what with all the additional spending measures and recesses and necessary campaigning and all.
But according to polls in recent months, the federal debt and spending deficit have emerged as major concerns of American voters, who have this silly idea from their own lives that spending ought to be more in line with available resources. They may have something to say about this on Nov. 2.
The ongoing gap -- or, more accurately, chasm -- between federal in-come and out-go is a major reason why Obama says he opposes a continuation of tax cuts for what he considers wealthy Americans. He wants that tax money coming in to help cover spending.
Not much talk yet about cutting that spending.
But maybe that subject will come up now and then when the newer members of Congress convene in January.
Sarah Palin pleads: 'Nobody tell Barack Obama what number comes after a trillion'
-- Andrew Malcolm
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Photo: Pete Souza / White House (Campaigning Obama talks politics with aide Patrick Gaspard); Ron Edmonds / Associated Press.