By Gary P Jackson
Still blaming this financial disaster on Bush? Having trouble understanding the magnitude of it all? Well, from Political Math comes a video that will help you understand just how poorly Obama has done his job, and how much trouble we are in:
The debt data has been collected from Treasury Direct website and adjusted for inflation using the Bureau of Labor Statistics CPI data. For the future debt, I used the debt projection for 2016 from President Obama’s 2013 budget (Historical Tables, Table 7.1 – Federal Debt at the End of the Year).
For the presidents where I had daily debt data (from 1993 – present), I used “inauguration-to-inauguration” debt numbers.
When I didn’t have those (for Ronald Reagan & George H W Bush) I used the yearly debt numbers including the fiscal year for which they were responsible. So for Reagan I used October 1981-October 1989 and for HW Bush I used October 1989 to Jan 20, 1993 (when daily data became available).
With all this information, I came up w/ the following data points (adjusted for inflation)
Ronald Reagan debt
from $2.29 trillion to $4.82 trillion
$2.53 trillion increase over 8 years
$316 billion / year
George H W Bush debt
from $4.82 trillion to $6.54 trillion
$1.72 trillion increase over 4 years
$430 billion / year
Bill Clinton debt
from $6.54 trillion to $7.38 trillion
$0.84 trillion increase over 8 years
$105 billion / year
George W Bush debt
from $7.38 trillion to $11.17 trillion
$3.79 trillion increase over 8 years
$474 billion / year
Barack Obama (measured) debt
from $11.17 trillion to $15.57 trillion (March 21)
$4.40 trillion increase over 3 years, 2 months
$1,390 billion / year
Barack Obama (future projection) debt
from $15.57 trillion to $20.39 trillion
$4.7 trillion increase over 4 years, 10 months
$995 billion / year
It was then a simple matter to apply the $5.8 billion-per-mile, 1 hour-per-year calculation to get what you see in the video.
Read more here.
Obama’s road trip is a disaster.