Remember all the Bush bashing, and it still goes on, how much his administration spent? Let’s take a closer look at the numbers, shall we? Notice in the chart below how the democrat spending bloated in Fiscal Year 2008 and 2009. Under the Constitution, the president cannot create either a budget deficit or a budget surplus. Congress does this.
Article 1 Section 7 of the US Constitution:
” All legislative powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and House of Representatives.”
|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.|
SOURCE: US Department of the Treasury, Bureau of Public Debt http://www.treasurydirect.gov
Calculation is simple. Just take any fiscal year and subtract if from the previous year. The the first column in black is the Outstanding National Debt. The column in red is the deficit for the year. SOURCE: http://www.treasurydirect.gov Click on link near the bottom right “Debt to the Penny”. This is data is free to the public from the Department of the Treasury, Bureau of Public Debt. All data here is compiled from this source, the same data that is used by the Congressional Budget Office and other agencies, but without the spin.
“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”
-John Adams, 2nd President of the United States.