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National debt soars during Obama’s term
Article published on Monday, Dec. 23, 2013
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Re: “Political Parties must compromise and cooperate,” Mike MacDonald, Clearwater, Dec. 12
Editor:
I read that these letters that The Beacon prints must contain this requirement: Please refrain from making unsubstantiated allegations.

The allegation from Mike MacDonald states, “The GOP over the past 40 years or so has been responsible for more national debt than in all of the nation’s history.”

This statement of Mr. MacDonald is “totally unsubstantiated” and totally untrue.

National debt: George W. Bush vs. Barack H. Obama. It’s important to keep in mind that during the past 40 years, Democrats have served as our president for 17 years, while Republicans have served as President for 23 years.

Our national debt currently is $17.2 trillion and all of these figures I’m providing can be substantiated at the following link: “The Debt to the Penny and Who Holds It” www.treasurydirect.gov/NP/debt/current.

Our national debt when George W. Bush took office on Jan. 21, 2001 was $5.72 trillion and it was $10.6 trillion when he left office.

So in George W. Bush’s entire eight years – or 96 months as president, our national debt increased by $4.89 trillion.

Our national debt has increased by $6.59 trillion during Obama’s first 59 months in office. Higher than all of the national debt accumulated by the first 42 U.S. presidents combined – and Obama still has 37 months left in office until his term ends to surpass that unenviable track record.

In contrast, in just the 59 months that Barack H. Obama has been president, the total national debt is higher by – $1.70 trillion and counting – than the total national debt under George W. Bush’s entire 96 months as president.

I’m not discussing percentages of increase, but actual dollars of increase.

And our national debt is projected to surpass $22 trillion by the end of Obama’s 96 months as president, which would be an increase of over $11 trillion during Obama’s full eight years in office.

This would mean that President Obama would be credited with doubling the national debt, from $10.62 trillion to over $22 trillion during his entire eight years in office. Far surpassing the total national debt of all his 43 presidential predecessors combined.

Joseph Mackay
Seminole
Article published on Monday, Dec. 23, 2013
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