Simply put, the obama administration is spending at a far faster rate than G.W. Bush’s administration EVER did. Under the Constitution, the president cannot create either a budget deficit or a budget surplus. ALL spending bills originate in the House of Representatives and ALL taxes are voted into law by Congress. Article I Section 7 and 8, US Constitution.
|FY Ending||Beginning Balance Total Public Debt Outstanding||Ending Balance Total Public Debt Outstanding||Yearly Deficit||Subtract Ending column from Beginning column for each FY|
|9/30/01||5,674,178,209,887||5,807,463,412,200||133,285,202,313||Bubba Clinton’s last Fiscal Year|
|9/30/02||5,807,463,412,200||6,228,235,965,597||420,772,553,397||W’s 1st Fiscal Year|
|9/30/08||9,007,653,372,262||10,024,724,896,912||1,017,071,524,650||democrats control Congress|
|9/30/09||10,024,724,896,912||11,909,829,003,512||1,885,104,106,599||W’s last fiscal year.|
|6,102,365,591,312||Total deficit for all W’s years.|
|Previous balance at the end of W’s administration forwarded||Ending balance of obama’s 1st Fiscal Year|
|9/30/10||11,909,829,003,512||13,561,623,030,892||1,651,794,027,380||This is obama’s 1st Fiscal Year deficit|
Click on link near the bottom right “Debt to the Penny”. This is public data from the Department of the Treasury. All data here is compiled from this source, the same data that is used by the Congressional Budget Office. Numbers are actual, not rounded. No numbers spin here.
Now, the $1,651,794,027,380 as of 30 September 2010 is obama’s 1st Fiscal Year deficit. It is clear obama’s administration and a democrat controlled Congress is spending at a much faster rate than the previous administration.
“Facts are stubborn things; and whatever may be our wishes, our inclinations, or
the dictates of our passions, they cannot alter the state of facts and evidence;
nor is the law less stable than the fact”