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
5 Comments:
Looks right to me.
Republicans keep saying that the tax cut to the wealthy causes money to "trickle down", helping the economy. When they are asked to show how it is helping the economy, they have no answer. I am sure they want to say that if there was not the trickle down, the economy would be even worse. But they can't, because when Democrats say that unemployment would be worse without the Stimulus, Republicans ridicule them. They don't want to be attacked by their own arguments.
Bill M
you need to learn the difference between debt and deficient.
Once you do that you'll learn why your last paragraph is retarded.
I didn't see Bill Maher's show but perhaps Hoover thought you guys knew that Obamas only been President for 2+ years and was talking about his budget that would have doubled the debt (just as Bush did) in 10 years.
"you need to learn the difference between debt and deficient."
I know what deficient means and it applies to your understanding of the issues.
I also know the difference between debt and deficit. I also know what Hoover said, and she didn't say "deficit"; she said "debt". And she didn't say "will have doubled the debt in 10 years."
And since Obama has not presented a budget past the current fiscal year, how can one claim that his budgets would double the debt in 10 years?
According to The New York Times, the total cost of NEW policies instituted by President Obama add only $1.44 Trillion from 2009-2017. Any other increase in the debt is due to the policies of the Bush administration, since they entered office with a surplus budget.
I love this; someone watches Bill Maher and calls someone from FOX a liar. Good one.
Mr. Drood is right, of course, no matter how you want to spin it.
Ya, it's Bush's fault we keep sinking more and more into debt, right? He's the MAN BEHIND THE PUPPET?
WHat a jerk.
I guess A-non is trying to make a point but has failed terribly. Your post is nonsensical.
But you are welcome to try again.
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