I guess they just can't help it
Last night (July 29, 2011) on Bill Maher's Real Time Margaret Hoover, Fox News "contributor", said "Barack Obama has doubled the debt." She not only said it, but repeated it several times when Maher correctly pointed out that her assertion was simply not true.
Apparently the Fox crowd is bound by some oath to spread misinformation even when they are not in front of a Fox camera.
Here are actual FACTS from TreasuryDirect.gov:
The US Debt on 9/30/2001, the end of Clinton's last budget year, was $5.8T. The US Debt on 9/30/2009, the end of Bush's last budget year, was $11.9T. If you take away the Stimulus, which arguably was an Obama policy addition to the debt, the Bush ending debt was $11.1T.
Today's debt is about $14.3T. Subtract adjusted Bush ending debt of $11.1T and you've got an increase of $3.2T under Obama. Unless my math is really bad, $3.2T in new debt does not double $11.1T.
Furthermore, since I've already allowed for the Stimulus in the above calculations, most of the $3.2T in added debt is due to continuing deficits from previously implemented policies like tax cuts and wars. Oh yeah, and then there is the recession thing. Because, see, debts and deficits aren't always due to a "spending problem". Sometimes they're due to not enough revenue coming in to cover commitments already made.
So, Hoover, like most good little Fox News contributors, is lying.
ps: 11.1 minus 5.8 is 5.3. It was Bush who (nearly) doubled the debt. And since the Clinton budget was a surplus budget, that doubling is ALL on Bush.
Apparently the Fox crowd is bound by some oath to spread misinformation even when they are not in front of a Fox camera.
Here are actual FACTS from TreasuryDirect.gov:
The US Debt on 9/30/2001, the end of Clinton's last budget year, was $5.8T. The US Debt on 9/30/2009, the end of Bush's last budget year, was $11.9T. If you take away the Stimulus, which arguably was an Obama policy addition to the debt, the Bush ending debt was $11.1T.
Today's debt is about $14.3T. Subtract adjusted Bush ending debt of $11.1T and you've got an increase of $3.2T under Obama. Unless my math is really bad, $3.2T in new debt does not double $11.1T.
Furthermore, since I've already allowed for the Stimulus in the above calculations, most of the $3.2T in added debt is due to continuing deficits from previously implemented policies like tax cuts and wars. Oh yeah, and then there is the recession thing. Because, see, debts and deficits aren't always due to a "spending problem". Sometimes they're due to not enough revenue coming in to cover commitments already made.
So, Hoover, like most good little Fox News contributors, is lying.
ps: 11.1 minus 5.8 is 5.3. It was Bush who (nearly) doubled the debt. And since the Clinton budget was a surplus budget, that doubling is ALL on Bush.
posted by Jim at 11:04 AM
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