Obama's Big Government Disaster

[Vicar In A Tutu]

Or How The Right Wing Club Together Worldwide To Spread Lie After Lie To Further Their Agenda.

Tonight, it's the turn of gurning, squashy-faced Briton Mr. Nile Gardiner. Look at that mug!

http://blogs.telegraph.co.uk/news/nilegardiner/100099762/america’s-debt-downgrade-is-a-damning-indictment-of-president-obama’s-big-government-disaster/">Utter Claptrap At This Link

"The decision by credit agency Standard and Poor’s to downgrade America’s AAA credit rating for the first time in 70 years is a massive blow to the credibility of the Obama administration, and a damning indictment of its handling of the economy. No doubt the White House will pathetically try to blame the Bush Administration, Republicans in Congress, and of course its favourite target, the Tea Party, for the move by S&P. But without a shadow of a doubt, responsibility for the country’s financial mess and staggering levels of debt lie with the current US president and his administration. They have been in charge of running the economy for over 30 months, during which time the United States has witnessed an unprecedented increase in government spending and borrowing."

[Frustratedlady]

1. Claptrap is right! EOM

[Make7]

2. RE: unprecedented increase

I don't believe there is an unprecedented increase in government borrowing. The following data is from the Treasury website:

Date      Total US Government debt
1/31/81     $934,073,000,000
7/31/83   $1,326,881,000,000

Which is a 42.05% increase in debt (i.e. borrowing).

Date      Total US Government debt
1/31/09   $10,632,080,000,000
7/31/11   $14,342,369,000,000

Which is a 34.90% increase in debt.


So if I am not mistaken, for the same time period at the beginning of the Reagan Administration there was actually a larger percentage increase in the US Government debt compared to the Obama Administration. Though I suppose that will only matter to people that are concerned with facts...
 

[Igel]

3. Odd.

Somehow, you seem to be trying to say that $4 trillion < $400 billion.

Perhaps there was rather more than 1000% inflation in the timespan in question?

[digidigido]

4. Igel, you didn't do well in math did you?

The man is talking about %. Please don't be disingenuous