Hey Look! That One is Way Ahead!

debt2I’ve seen a “Who Increased The Debt?” chart here and there around the net and on more than one Facebook post, so odds are you’ve come across it or one of it’s variations.  I also think that I hear Joe Teehan allude to these same figures somewhat regularly on the KGMI Morning Show.

Through one of the Facebook links I located this copy of the chart on the right at Politcususa which is a self described liberal politics blog.  With the title Politicausa centered between images of  self-proclaimed  socialist Senator Bernie Sanders and by most accounts socialist President Obama, I had no doubt that the “facts” on the site were skewed to the left.

I wasn’t really sure how far left and exactly what actual information they were skewing so I had a look see.  It turns out that Snopes already had a go at the chart six months ago and they had deemed the Who Increased the Debt chart a mixture of truth and fiction.  What they actually determined was that the chart was probably based on accurate information (as of April 2011) just not well represented or of any use.

“So, as far as raw numbers go, the chart is reasonably accurate…

The chart isn’t a true comparison of equals…

the increase reported for Barack Obama will be considerably higher by the time he leaves office.”

Snopes bottomline really says all that anyone needs to know about the Who Increased the Debt chart,

All in all, this is a case of relatively accurate information which is of marginal value due to the lack of proper comparative context

Alternative debt analysis1Being of marginal value hasn’t stopped Barack Obama supporters from spreading it around the net though.  Apparently it is of some value to them if they get enough people like Joe Teehan to pass along the misinformation as truth.  And we all know that lies become truth if you hear them enough. Way to go Joe!

So as not to make this blog post just a negative commentary or a repost of a Snopes post, I thought I would add a couple of charts of my own that actually contain proper comparative context.  I used the same data, but I didn’t compare apples to oranges nor mush and manipulate the numbers into a chart where I tell you who is at fault in our national debt problem.  Instead,  I just charted the hard numbers, dollars vs. time.

 

Alternative debt analysis 2Anyone with out a preconceived agenda will probably agree with my 9-year old, who when seeing the charts proclaimed, “Hey look! That one is way ahead!” as he pointed to the Barack Obama spending line.  How do you disagree with that?   If spending taxpayer money were a race, President Obama is clearly in the lead.

My charts don’t bode well for a sitting President seeking a second term in office.  It would be one thing to spend this much money if our economy were booming, but it isn’t.   It would be another thing if this outrageous level of spending were actually kicking our economy into overdrive, but it isn’t.  Frankly I can’t see anything positive coming from this level of spending nor the Obama Administration in general.

And President Obama is asking us to offer him 4 more years of spending?  I don’t think we can take it.

PS

And what about all the probamas who blame President Bush for much of President Obama’s early term spending?   I say sure, there is always some carryover spending from one administration to another, but don’t tell me that President Obama and his administration don’t have a spending problem when they couldn’t even wait to take office to start spending.

UPDATE on November 10, 2008 at 7:15 PM EST:
A source tells NBC News that Obama pushed Bush on an economic stimulus package, saying that action is needed now, not after the inauguration:

According to the source, Obama told Bush that action is needed on a stimulus package now – in a lame duck session – and cannot wait until after the inauguration.
Obama also urged help for automakers and encouraged the acceleration of the disbursement of $25 billion dollars for the industry.

On his third focus – housing – Obama voiced his concern that homeowners whose mortgage rates are about to go up will need aid to prevent more Americans from defaulting on home loans.

HuffingtonPost

And another,

President-elect Barack Obama asked President Bush today to request the release of the second $350 billion in federal bailout funds so he would have “ammunition” if the country’s fragile economy weakened further.The White House said that Bush has agreed to request the money.
Obama, speaking after a meeting with Mexican President Felipe Calderon, said it would be “irresponsible” to enter the White House without having asked Bush to request the funds. He called the cash “potential ammunition” in case the economy worsened.
Bush to Ask for TARP; Obama to ‘Rebrand’ It

By MARK MOONEYJan. 12. 2009