Obama Increased US Debt by $1.2 Trillion More than President Trump Did in First 200 Days of Their Presidencies
Guest post by Joe Hoft
In late April USA Today reported that the government would likely shut down by April 28th if Congress did not provide President Trump with a bill to keep it going.
Congress returns Monday with just five days left to keep the government from shutting down, and President Trump is adding to the pressure by demanding money for a Southwest border wall and other controversial programs that threaten a bipartisan deal.
Lawmakers passed a stop-gap spending bill in December to fund federal agencies through midnight next Friday. Congressional leaders are now scrambling to reach a bipartisan compromise on new legislation to keep the money flowing through fiscal 2017, which ends on Sept. 30.
Eventually a bill was passed preventing a government shut down.
Now again there are concerns in the press about a government shutdown due to the US government reaching its debt ceiling. The New York Times reported on June 29th that the deadline is coming.
Congress has until mid-October to raise the statutory borrowing limit or the United States will risk defaulting on its debt obligations, the Congressional Budget Office said in a report on Thursday.
What’s amazing is that the NYT reported about the debt limit President Trump is facing without noting the amount of US debt when the President took over the government, the current amount of the debt or the amount of the debt ceiling. CNN Money did nearly the same thing. They reported on the debt limit crisis without mentioning the amount inherited by President Trump and the current amount of US debt but they do mention the amount of the US debt limit ($19.8 Trillion). The reason is quite possibly because these numbers would shed a very positive light on President Trump.
When President Trump first stepped into the White House on January 20, 2017, the total amount of US debt outstanding was $19.9 Trillion ($19,947,304,555,212.40). Under President Obama the US debt grew from $10.6 Trillion on his inauguration on January 20, 2009 to the $19.9 Trillion debt President Trump inherited this year. Obama nearly doubled the amount of US debt during his Presidency by increasing the debt by $9.3 Trillion.
Based on the news reported by the NYT and CNN above Americans probably think that President Trump has increased the US debt by extraordinary amounts causing the pending debt ceiling crisis but this is not the case. Currently the amount of outstanding US debt is $19.8 Trillion. President Trump to date has decreased the amount of US Debt by $102 Billion!
During this same time period in 2009 President Obama increased the amount of US debt by more than $1 Trillion to $11.7 Trillion.
President Obama increased the US Debt by more than $1.2 Trillion when compared to President Trump during the first 200 days of their Presidencies.
It’s very clear that the US Congress has set up President Trump for failure. They and their media friends will paint the US debt crisis as the makings of the current President. But this is clearly not the case. President Trump inherited a debt ceiling that was lower than the amount of US debt at the time he inherited it. The debt ceiling is still less than the current amount of US debt.
Don’t believe the Main Stream Media (MSM) when they try and tell you in the coming weeks that President Trump caused the debt limit crisis. It is a lie.
President Trump has saved the US $1.2 Trillion when compared to Obama.