Posts tagged President Bush
Back in 2009 I made a visualization about the deficits we were expecting under President Barack Obama. I called it the “National Debt Road Trip” and it was moderately popular.
Today, after nearly 3 years, I have updated it with a new video:
The video itself is just an overview of data that I’ve been toying around with for a month or so. I’ll do an in depth look at the data first and then answer some questions close observers might have about the data.
The National Debt Road Trip Details
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.
Rand Paul attacks Obama and the Republicans. 2/13/12
Now more than every we need the Champion of the Constitution!
Please visit Ron Paul’s official campaign site by following the link below and donate today!
“The Judge” conveys the sentiments of the American people to Speaker of the House John Boehner.
Here’s the text with a link to the video version below:
Dear Mr. Speaker,
When the Founders at the Constitution Conventional in 1787 created the House of Representatives, it was fashioned to act as the voice of the people within the institutional checks and balances of the Federal Government. That’s why the entire House faces reelection every 2 years. That’s why Constitutionally, you don’t have to even be a member of Congress to serve as speaker. And that’s why the Constitution allows for thousands of members of the House for our current population. It is the people’s house, and the people spoke last November. They cried out against a government completely out of control. After President Bush grew the U.S. debt by $7 trillion dollars in 8 years in office, and President Obama added $4 Trillion in just 2 years in office, the people cried out against big-government policies that are sabotaging the economy and taking over our lives. And because they cried out, you are no longer just John Boehner from Ohio. You are now the second in line to succeed to the presidency. You are the Speaker of the House of Representatives.
Mr. Speaker, the House of Representatives has just 8 working days left before the August 2nd debt ceiling deadline, and by wide margins in whatever way the question is asked, Americans do not want to see the debt ceiling raised. They’re sick and tired of paying interest on borrowed money; money borrowed in their name. The Federal Government borrows so much money from so many sources, Mr. Speaker, that no-one knows for sure just how much it owes to its lenders. It already appears that it has exceeded the legal limit set by the congress at $14.294 trillion, and they actually at this moment in time are closer to $14.5 trillion. The White House is putting intense pressure on you and on Congress to raise that limit. The President’s apologists have even suggested invoking the 14th amendment to bypass the will of Congress and borrow money without legal authority. Given the way the White House has run roughshod over your House in the matter of the “not-war” in Libya that our military is still “not” engaged in, the word of the President’s lawyers that there is no presidential power in the 14th amendment to borrow money on his own can hardly be trusted. This is a president who does not regard the Constitution as a limit on the exercise of governmental power. But the President can only get away with violating the Constitution, Mr. Speaker, if you let him do so.
If you stand up for the will of the people, you will restrain him. This is the moment of truth for the Congress, Mr. Speaker. The scare-mongers and the chicken-littles in DC will tell you that the sky will come tumbling down if the debt ceiling isn’t raised, even though your colleagues, Senator Pat Toomey and Rep. Tom McClintock, have introduced legislation that would prevent the United States from defaulting on its debt obligations.