A Quote by Barack Obama
When George Bush came into office, we had surpluses. And now we have half-a-trillion-dollar deficit annually. When George Bush came into office, our national debt was around $5 trillion. It's now over $10 trillion. We've almost doubled it.
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When George W. Bush entered office, the national debt was $5 trillion. When he left, it was $10 trillion. I think the administration spent too much money.
President Obama inherited a one trillion dollar deficit courtesy of George Bush and turned it into a three trillion dollar deficit courtesy of Karl Marx!
When this president was sworn into office, he was handed a deficit of over a trillion dollars. Republicans were in control of Congress for much of the time that President George W. Bush was in office, and they didn't do a great job of controlling spending.
Mr. Obama denounced the $2.3 trillion added to the national debt on Mr. Bush's watch as 'deficits as far as the eye can see.' But Mr. Obama's budget adds $9.3 trillion to the debt over the next 10 years. What happened to Obama the deficit hawk?
The problem is that the way [President] Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion dollars for the first 42 presidents - number 43 added $4 trillion dollars by his lonesome - so that we now have over $9 trillion dollars of debt that we are going to have to pay back. [That's] $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic.
When President Bush left office, the deficit was approximately $500 billion. It is now approximately now $1.5 trillion. In other words, President Obama has essentially tripled the deficit.
The Obama administration has embraced the policies of George W. Bush, and then gone much further. Wall Street bailouts went ballistic under Obama - $700 billion under Bush, but $4.5 trillion under Obama, plus another $16 trillion in zero-interest loans for Wall Street.
Donald Trump ran for office complaining that at $19 trillion, the US debt was completely out of control, and yet what he's planning to do is throw trillions of dollars more onto that debt. If the proposed tax plan cuts upon the wealthiest Americans is enacted, 10 years from now America's debt will be over $30 trillion. And so, he's contradicting, his own stated positions. And that's because, to Donald, none of this is about policy. It's not about sound economics. It's about greed and the glorification of the great leader.
We don't want to put up the money. We owe almost $20 trillion. Doubled since [Barack] Obama took office, our national debt.But we will get the money from Gulf states and others.
It took the national debt two hundred years to reach $1 trillion. Supply Side Economics quadrupled the national debt to over $4 trillion in twelve years (1980-1992) under the Republicans. Bill Clinton actually paid down the national debt. How did he do it? He raised taxes. It produced the longest sustained economic expansion in U.S. History.
In an era of billion-person countries and trillion-pound economies, we need to find ways to amplify our voice. We are most likely to be heard when the Chinese negotiate with a £10 trillion E.U., not a £1.5 trillion Britain.
It is my view that what is important is cutting government spending, however spending is financed. A so-called deficit is a disguised and hidden form of taxation. The real burden on the public is what government spends (and mandates others to spend). As I have said repeatedly, I would rather have government spend one trillion dollars with a deficit of a half a trillion than have government spend two trillion dollars with no deficit.
Democrats were quick to point out that President Bush's budget creates a 1 trillion dollar deficit. The White House quickly responded with 'Hey, look over there, it's Saddam Hussein.'
We don't have a trillion-dollar debt because we haven't taxed enough; we have a trillion-dollar debt because we spend too much.
When you look at our trade deals that are so bad. Our debt has doubled in seven and a half years to almost $20 trillion, under [Barack] Obama.
The economy of the United States gross domestic product doubled from 1996 to 2015, doubled, more than, $8.8 trillion to $17.1 trillion. And the median household income went down.
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