A closer look at some of the numbers connected with the U.S. budget has found that in a mere six years Obama has created a deficit that adds up to more than the deficits of EVERY other president combined.
Joe Hoft took a look at the numbers and found this outrageous truth. This is part and parcel to Obama’s plan to destroy the USA, certainly.
A deficit occurs when annual government spending is greater than its revenues. When a government overspends resulting in a deficit, it must borrow money to stay afloat. Currently the US the government has over $18 Trillion in US Debt. This is the result of years of overspending. Of the $18 Trillion in US Debt, $13 Trillion is debt owed to the public but $5 Trillion is debt the government owes to other government agencies, like Social Security, where the government borrowed from these agencies when it needed money. The $13 Trillion in debt owed to the public is due to deficit spending and the accumulated interest payables related to the large amount of debt.
Per www.whitehouse.gov, the accumulative total for all US Deficits combined was $11.6 Trillion through the end of 2014 (see Table 1.1—SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (–):1789–2020). This $11.6 Trillion along with accumulated interest payables are what account for the $13 Trillion in US debt outstanding.
A closer look at the deficits recorded at www.whitehouse.gov shows that the Obama Administration has accumulated more in deficits in six years than all prior years combined!
At the end of 2008, the accumulated total of all US Deficits for all administrations since 1789 was $5.3 Trillion. For the six years 2009 through 2014, the Obama Administration has racked up an impressive $6.3 Trillion in deficits which are now more than all of the accumulated deficits before he took office.
Yes, Obama has made it far worse than even George W. Bush did.