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Obama Added More to National Debt in First 19 Months Than All Presidents from Washington Through Reagan Combined

(CNSNews.com) - In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan.

The U.S. Treasury Department divides the federal debt into two categories. One is “debt held by the public,” which includes U.S. government securities owned by individuals, corporations, state or local governments, foreign governments and other entities outside the federal government itself. The other is “intragovernmental” debt, which includes I.O.U.s the federal government gives to itself when, for example, the Treasury borrows money out of the Social Security “trust fund” to pay for expenses other than Social Security.

At the end of fiscal year 1989, which ended eight months after President Reagan left office, the total federal debt held by the public was $2.1907 trillion, according to the Congressional Budget Office. That means all U.S. presidents from George Washington through Ronald Reagan had accumulated only that much publicly held debt on behalf of American taxpayers. That is $335.3 billion less than the $2.5260 trillion that was added to the federal debt held by the public just between Jan. 20, 2009, when President Obama was inaugurated, and Aug. 20, 2010, the 19-month anniversary of Obama's inauguration.


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I blame Obama personally

We all know now that he personally decide to spend this money and is part of an evil plot to turn this nation over to terrorists (i.e. Muslims) and redistribute wealth to the poor. Yep, here comes communism/socialism.

Reagan or even Bush#2 would never have let this happen!!!

Personal story...today I went

Personal story...today I went into the store. My teenage daughter stayed in the car.
I have End the Federal reserve written on my back window. An elderly lady came up and knocked on my daughters window.. and said Why do you have that on your back window? Oh, I doubt you know anything about it your parents probably wrote it..She then said you can tell your parents that Ending the Reserve was nothing and meant nothing. That her only objective was to get Obama out of office. apparently everyone is forgetting the Bush years...in a couple of months they will be talking about the good old days when Bush was president...oh how quickly americans forget everything.
those who forget the past will repeat it...
here comes another Republican takeover expecting something different.
which just reminded me of the definition of insanity.
repeating the same action over and over expecting a different result.
apparently the entire country is insane and has memory loss

"and the truth shall make you free"
John 8:32

I very roughly calculate that every 5 years the debt will double

How long do you think they can keep that up before nobody in his right mind will buy federal debt? They are already insolvent. Just saw this headline on Drudge, "Treasurys Tumble Following Weak 30-Year Sale...". Maybe buyers of debt are figuring out that the federal government is not such a good credit risk.

Is time to dissolve the federal government?

Remember the first paragraph of the Declaration of Independence:

When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another....

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

making Obama the 'bad guy' just keeps . . .

the entire truth from coming out--

It seems that 'everyone' is doing it, though.

I like him no more than any of the last five or six or seven presidents (or more)--

but a lot of this started before he became president; those baillouts were vicious.

It's amazing to me to see how much 'mileage' most of my neoconservative friends get out of Obama.

Once it is agreed among them when they converse (my neoconservative friends) that Obama is the bad guy, they can go back to their lives, feeling relieved.

And nothing more happens.

Then they watch FOX news and smile at Sarah Palin and Glenn Beck.

It's a bad situation all the way around.

it's hard to be awake; it's easier to dream--

I know what you're trying to say,

but nobody "made him the bad guy" but himself.

He put himself there, and he can roast.

the trouble is that the repubs

had a hand in this skyrocketing debt as well...not defending obama here but he is not the sole one and only infamous politician to have balloned the debt ...