GayPatriot

The Internet home for American gay conservatives.

Obama Debt Roundup

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I meant to do this awhile back, updating previous posts in the series.

When President Obama left office on January 20, 2017, the U.S. national debt was $19.9 trillion. ($14.4 trillion held by the public; $5.5 trillion “intragovernmental”, for example, Treasury bonds held by Social Security.)

When Obama took office on January 20, 2009, the U.S. national debt was $10.6 trillion. ($6.3 trillion held by the public; $4.3 intragovernmental)

Obama more-than-doubled the part of the U.S. national debt that everyone agrees is important (what’s “held by the public”). And he nearly doubled the total.

And for what? Eight years of the weakest economy “recovery” on record.

Deficit update

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First, let’s do a National Debt update. You’ll see why, in a minute.

As of this day, the U.S. national debt is $19.3 trillion. ($13.9 trillion held by the public; $5.4 trillion “intragovernmental”, for example, Treasury bonds held by Social Security.)

When President Obama took over from President Bush, it was $10.6 trillion. ($6.3 trillion held by the public; $4.3 intragovernmental)

So, Obama has already more-than-doubled the part of the U.S. national debt that everyone agrees is important (what’s “held by the public”). And he’s on track to double the total, by the time he leaves office.

But there’s more. On this day 3 years ago, the total was $16.7 trillion. So, over the past 3 years, the U.S. operating deficit – the money that the U.S. Treasury actually had to borrow to pay for stuff – has been $2.6 trillion, or roughly $865 billion per year.

That’s funny because the three most recent U.S. budget deficits are supposed to be much smaller. 2014 – $483 billion, 2015 – $438 billion, 2016 – $616 billion; for a total of $1.5 trillion. (September-ending fiscal year means a 2-3 month shift from the dates I used above; but that does not alter the story drastically.)

What does it mean? It means they’re lying to us about the size of the U.S. budget deficit. And they’ve been lying for years, as I’ve blogged previously.

Oh, you could say “Come now, the accounting numbers are accurate, they’re just using some budget/accounting tricks to hide a big chunk of their spending-and-borrowing.” But I consider tricks to be lies. Don’t you?

According to left-wingers like MSNBC and Rachel Maddow, or even the Dear Leader Himself, His Dear Leadership has reduced the U.S. annual budget deficit by 2/3. No, pumpkins. It hasn’t. You lie.

What’s the deficit, really?

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In October 2013, I noted that the U.S. national debt leapt over $300 billion – the day after they raised the debt ceiling. It went from $16.75 trillion to $17.08 trillion, just days after President Obama had publicly lied that “…raising the debt ceiling…is not raising our debt. This does not add a dime to our debt.”

Update: Today, the U.S. national debt is about $18.01 trillion (or as this post is being written, $18,005,549,328,561.45).

$18 trillion! Up from $10.63 trillion when Obama took office on January 21, 2009. The Obama administration is 70% of the way to doubling the U.S. national debt – and still has two years to run!

But here’s the fishy part. Officially, the U.S. budget deficit for FY2014 was only $483 billion. If that’s true, our debt should have gone up a lot less. It should be just over $17.5 trillion.

There are two basic ways to measure the deficit.

  1. The official number: What the government budget states as revenue minus spending.
  2. The reality check: What the government had to borrow, to actually pay its bills.

Let’s take a look at the second one. I don’t have the exact numbers for the U.S. national debt for FY2014’s beginning vs. ending. But it should be obvious that, with the debt increasing by about $1 trillion from late October 2013 to end of November 2014, the real FY2014 deficit (covering twelve months from start of October 2013 to end of September 2014) had to be something larger than $483 billion. Otherwise, the FY2015 deficit would have to be $500 billion in just the last two months alone; and it isn’t.

So if an Obama supporter tries to say “The Dear Leader has reduced the deficit to $483 billion!”, you say: Then why did the national debt rise by roughly a trillion, over that same period? BALONEY.

Meanwhile, the Obama administration has found yet another way of lying to us. I’m becoming convinced that all of the ‘headline’ statistics put out by this administration are manipulated to the point where they’re a fraud, at least partly.