||O'Reilly Flat Out LIED About The Debt Obama Added
By: Steve - October 16, 2011 - 10:00am
O'Reilly claims President Obama has added $4.2 trillion to the debt since he took office, and that is a bold faced lie.
Here is a fact: The Obama policies since he took office have only added $1.4 trillion to the debt. The other $2.8 trillion in debt was added by Bush, his policies, and other government debt that would have been added no matter who the President is.
OBAMA HAS ONLY SUBMITTED TWO BUDGETS! THE 2010 and 2011 BUDGET. BUSH SUBMITTED THE 2009 BUDGET of $3.1 Trillion.
O'Reilly is adding all the spending while Obama was in office from January of 2009, even though most of it was from the Bush budget.
Obama and Congress did have some stimulus add ons to the 2009 budget that added $185 billion to the 2009 fiscal year but it was ultimately drafted by the Bush administration.
That's how it works, the budget is always submitted the year prior to that fiscal year by the President which in this case was Bush in 2008 who submitted the 2009 budget.
So all the debt, deficit and spending numbers being used to calculate Obama's "increases" start with his 2010 budget, not Bush's 2009 budget. O'Reilly is starting with the 2009 Bush budget, and adding it to the Obama debt numbers.
The 2010 Budget was Obama's first budget. And of course with the small amount of spending increases by Obama, you have to account for the fact that he actually put the Iraq war ($130 Billion) on the budget (overseas military contingencies) which Bush did not (supplemental appropriations), Not to mention the fact that the wars are still not over and we are still paying for them. And then of course all the interest on the Bush debt.
And of course the decrease in revenue due to the Bush economy (-$420 Billion in 09). So not all of the increases in the 2010 budget were actual "Obama spending", like the $209 Billion, or 6% of our 2010 budget which is going towards interest on past debt, a lot of which is Bush's debt.
Here are the facts:
-- Ending in fiscal year 2001, the US had a surplus of $127 Billion
-- The DEFICIT for Bush's 2009 budget was $1.42 Trillion
-- Obama's 2010 Budget saw a deficit of $1.45 trillion. A 2% increase from Bush's 09 budget Obama increased our national debt by 13.8% in 2010
-- Bush increased the national debt 18.8% in 2009 and had increased the debt 11.2% in 2008
The national debt at the end of 2000 before Bush's first budget was submitted was $5.6 Trillion, for the last Bush budget in 2009 the debt had increased to $11.9 Trillion, a 110% increase.
Over 60% of our budget is dedicated to the following:
Defense Spending (20%) - (Everything included, it's actually much higher than that)
Social Security (20%)
Obama didn't invent any of these debts, nor was he responsible for the wars, which requires so much revenue for defense nor was he the one who has been borrowing from social security, nor did he have anything to do with the 2000 tax cuts ($2.2 Trillion) nor did he have anything to do with the HMO's that allowed medical costs to skyrocket and thus make medicare and medicade as expensive as they are.
2009 also saw a 17% decrease in federal receipts (from the bad economy) from 2008 for instance. Also something Obama had nothing to do with.
When you add up everything Obama added to the debt, it comes up to $1.4 trillion, not the $4.2 trillion O'Reilly claims. O'Reilly is a dishonest right-wing hack who hates Obama and wants to make him look bad. So he lies about the debt to smear him, and I have just proven it with actual numbers and facts.