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Posted: 8:23 a.m. Wednesday, Aug. 24, 2011
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By Neal Boortz
The Treasury Department has crunched the numbers again. Either way you slice it .. things aren’t too pretty for Dear Ruler. He has managed to increase our national debt by $4 trillion in less than four years. To put it in perspective, it took George Bush eight years to run up the national debt by $4.9 trillion .. also not something to be proud of, but just shows you how much more Obama has managed to increase government spending over the last few years. When he took office our debt sat at $10.63 trillion. Now our debt has hit $14.64 trillion. This makes it the most rapid rise in debt under any U.S. president in history. One calculation estimates that at an Obama-pace, our national debt grows by $3 million per minute.
While Bush was no thrifty commander-in-chief .. here’s a side-by-side look at the two in terms of spending:
In fiscal 2007, the last year before things went haywire, the government took in $2.568 trillion in revenues and spent $2.728 trillion, for a deficit of $160 billion. In 2011, according to Congressional Budget Office estimates, the government will take in $2.230 trillion and spend $3.629 trillion, for a deficit of $1.399 trillion.
That's an increase of $901 billion in spending and a decrease of $338 billion in revenue in a very short time. Put them together, and that's how you go from a $160 billion deficit to a $1.399 trillion deficit.
If our electorate is dumb enough to re-elect this man in 2012, I simply don’t see how future generations will ever survive this. They will be looking back at their parents who cast their vote for the government hack and say, “Thanks a pant load, Mom and Dad.” They will not enjoy the freedoms and opportunities that you currently have, because something will have to give in order to bear the burden of this massive debt.
Neal Boortz chronicles his 42 years of talk radio in his book "Maybe I Should Just Shut Up and Go Away" Available on line and printed from Barnes and Noble and Amazon.
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