National debt has increased $4 trillion under Obama, most rapid under any US President (or $3 million a minute), Obama blames others

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    Aug 23, 2011 4:27 PM GMT

    The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama's watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion.

    It's the most rapid increase in the debt under any U.S. president.

    The national debt increased $4.9 trillion during the eight-year presidency of George W. Bush. The debt now is rising at a pace to surpass that amount during Mr. Obama's four-year term.

    Mr. Obama blames policies inherited from his predecessor's administration for the soaring debt.

    Related here - As Failures Grow, Obama Blames Others

    In his weekly radio address and elsewhere over the weekend, President Obama blamed Republicans for "holding back" the recovery by blocking his still-MIA jobs plan. This wins the prize for Oval Office hubris.

    He's even questioning the "patriotism" of GOP leaders on the Hill, claiming they're putting politics above country. "They're more interested in the politics of it than they are in solving the problem," he complained .

    "The worst part is when you are talking to a family member of a fallen soldier and you are hugging them," he added. "And then you see sometimes our politics not living up to that level of commitment and patriotism that we see from our troops."

    The most ideologically rigid president in history then accused Republicans — who control just a third of the Pennsylvania Avenue power corridor — of "rigidity" in refusing to raise taxes in a recession.

    "When I saw our Republican presidential primary candidates suggesting that they would not be willing to close a single tax break, even if they were going to get $10 of savings for every $1 of revenue that raised, that is no longer thinking in a common-sense way," Obama said. " At that point, what you're seeing is ideological rigidity that is preventing us from solving problems."

    You can't appreciate the heights of this cynicism without looking at Obama's 2006 memoir, "The Audacity of Hope," where he blamed Bush and Republicans for "anemic job growth," "flatlining wages" and not making "tough choices to control spending." All the horrible things he said came from GOP policies back then are umpteen times worse now under his own policies.
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    Aug 23, 2011 5:48 PM GMT
    southbeach1500 saidIt's BUSH's fault!!!!!

    Oh he also blamed President Reagan too.icon_rolleyes.gif
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    Aug 23, 2011 5:59 PM GMT
    America lets face it, you all were way better off before Obama's Hope and Change!