The Two Sides of Truth a.k.a. Deficit 101

Opinion by Patricia L Johnson

We can generally assume there are two sides to any statement, which has been made abundantly clear in the Treyvon Martin, George Zimmerman shooting. There is the George Zimmerman version that he shot the young man in self-defense, and the statement made by the girlfriend, that she was on the phone with Treyvon Martin when the shooting occurred and Treyvon was not the aggressor, quite the opposite, he was frightened because he was being followed by Mr. Zimmerman.

The Grand Jury is scheduled to hear this case on April 10, 2012 so eventually folks will be able to determine what really happened on the evening of February 26, 2012 when this youngster was shot to death. In the meanwhile all we can really do is speculate about the circumstances surrounding the shooting on that sad, rainy evening, three weeks ago.

The GOP unveiled Representative Paul Ryan’s 2013 Budget presentation The Path to Prosperity – A Blueprint for American Renewal” on March 20, 2012 with considerable emphasis placed on the national debt. Their claim for the day is President Obama increased the national debt more in the past three years and two months, than the national debt was increased during the 8-years President Bush was in office.

There is no question the national debt has increased tremendously over the past three years based on the fact we have had incredible budget deficits during that same period of time.

The Republicans will have you believe the extraordinary deficits and subsequent additions to the national debt are ‘spending’ related and to a certain extent what they are saying is 100% true. We are spending considerably more than we are taking in each month, but where does the fault lie for the “out-of-control” spending?

President Bush came into office on January 20, 2001 and the budget for FY 2001 had already been put in place by his predecessor, President William J. Clinton. President Obama came into office on January 20, 2009 and the budget for FY 2009 had already been in place by his predecessor, President George W. Bush. It was known when the FY 2009 budget was submitted that it would incur a huge budget deficit that would carry over to the national debt. If you want to place blame on the 2009 budget it will have to go to President George W. Bush, not President Obama.

During the eight years President Bush was in office the U.S. Budget went from $1.86 trillion dollars in FY 2001 to $3.51 trillion dollars in FY 2009, or a budget increase of $1.65 trillion dollars for a fiscal year. If we were to extrapolate, just the budget increases President George W. Bush put in place for the three years President Barack H. Obama has been in office, $4.95 trillion dollars would have been added to the budget deficit, and subsequently the national debt during this three year period of time – without President Obama doing anything to increase the deficit.

On the other hand, you can see from the following table the budget increase under President Obama from 2009 through 2011 only totals $85.4 billion for a fiscal year. President Obama decreased the budget for FY 2010, and then increased it for FY 2011 to account for the 2% reduction in FICA taxes beginning January 1, 2011 and ending December 31, 2012.

Data extracted from OMB Table 4.1 – Outlays by Agency: 1962 – 2017

Read the following for additional information on the National Debt

© 2012 Patricia L Johnson

This entry was posted in Economy, Elections 2012, Government, News and politics and tagged , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s