I was looking trough Mitt Romney's website to learn more about his budget plans and how he plans on balancing the budget in 8-10 years as stated during the debate and I was immediately drawn to his Quick Facts section indicating that the total debt accumulated by the first 43 Presidents was $6.3 Trillion, while Obama has accumulated $6.5 Trillion. Now, if I'm not mistaken, our current debt is $16.2 Trillion, so if Obama has accumulated $6.5 Trillion, wouldn't the debt level when he took office be $9.7 Trillion and not $6.3 Trillion? Can someone explain how Romney came up with the $6.3 Trillion number? We all know that by the time GWB left office we were already close to $10 Trillion in debt, so I wonder how $3.7 Trillion are unaccounted for in Mitt's website.
http://www.mittromney.com/issues/spending
- icuminpeace
- 10-23-2012, 04:39 AM
- trynagetlaid
- 10-23-2012, 04:45 AM
It has something to do with debt held by the public vs. intragovernmental debt, I believe.
- icuminpeace
- 10-23-2012, 07:33 PM
What a disappointment. I thought some of the geniuses on the board would be able to explain Romney's numbers about the debt posted on his webpage.
- Yssup Rider
- 10-23-2012, 08:25 PM
most people,on this board believe them
- LovingKayla
- 10-23-2012, 08:43 PM
- LovingKayla
- 10-23-2012, 08:48 PM
most people,on this board believe them Originally Posted by Yssup Rider
Hey the comma goes behind board, not people. Not calling you out or anything stud so calm down. You'll have plenty chance to get me later... Like after Romney wins and I all I have to worry about it whether or not to buy a new brand of tampon.
Of course, I'd have to care what you think first for that to be successful.
- icuminpeace
- 10-23-2012, 08:49 PM
Layla - If you're so smart, can you explain why Romney thinks that all 43 previous presidents accumulated total debt of $6.3T, Obama increased our debt by $6.5T, yet our total cumulative debt is $16.2T (based on yesterday's numbers published by the debt clock)? Go do some addition and then come back and explain to us why the difference.
- icuminpeace
- 10-23-2012, 09:03 PM
And I'm waiting for genius Layla to explain the math...
- CuteOldGuy
- 10-23-2012, 09:49 PM
I see those numbers on the site. They're obviously wrong. Everyone knows the national debt was over $10 Trillion when President Obama took office. If you want to call it a lie, go ahead, but this one pales in comparison to most of Obama's lies. It could be an input error, or they could be intentionally trying to mislead.
The fact is, they're both going to spend us into oblivion, so not sure why it is an issue.
The fact is, they're both going to spend us into oblivion, so not sure why it is an issue.
- Yssup Rider
- 10-23-2012, 10:25 PM
Hey the comma goes behind board, not people. Not calling you out or anything stud so calm down. You'll have plenty chance to get me later... Like after Romney wins and I all I have to worry about it whether or not to buy a new brand of tampon.Kayla you ignorant slut...
Of course, I'd have to care what you think first for that to be successful. Originally Posted by LovingKayla
I know where the comma goes, dipshitress. Of course I'm not as good on a cellphone as you are, girlfriend.
That said, do you know where the period goes?
- JD Barleycorn
- 10-24-2012, 01:30 AM
Yes, Romney has repeatedly, and correctly, stated that Obama has equaled the debt accumulated by the previous 42 presidents not including GW Bush. Understand that? George Bush increased the debt nearly $5 trillion dollars ($4.9 trillion) in eight years with two wars, 9/11, and an economic collapse. Obama has increased the debt over $5 trillion dollars (it is still rising) in almost four years with one war. So Bush spent money on the military and war whereas Obama spent money on bailouts, unions, green energy, and buying GM. Obama was winding down Afghanistan and double counting the savings.
5.73 trillion (the 42) + 4.9 trillion (Bush) = 10.64 trillion (total in 2001) - 16.2 trillion (current debt at 0138, 24 October 2012) = 5.56 trillion and growing (Obama's share) Projected share of Obama debt on January 20, 2013: 5.93 trillion dollars If Obama had ever passed a budget then his spending would continue (at the current rate) until the 1st of October of 2013 and would surpass 7.04 trillion dollars.
http://www.usdebtclock.org/
As for the website, the langauge shows it was written earlier this year and, yes, a mistake was made by someone who typed it up. Romney, himself, has said it correctly. Unless you really think Romney wrote his own website. Obama misspelling O-h-i-o
5.73 trillion (the 42) + 4.9 trillion (Bush) = 10.64 trillion (total in 2001) - 16.2 trillion (current debt at 0138, 24 October 2012) = 5.56 trillion and growing (Obama's share) Projected share of Obama debt on January 20, 2013: 5.93 trillion dollars If Obama had ever passed a budget then his spending would continue (at the current rate) until the 1st of October of 2013 and would surpass 7.04 trillion dollars.
http://www.usdebtclock.org/
As for the website, the langauge shows it was written earlier this year and, yes, a mistake was made by someone who typed it up. Romney, himself, has said it correctly. Unless you really think Romney wrote his own website. Obama misspelling O-h-i-o
- icuminpeace
- 10-24-2012, 06:24 AM
Because updating a website to fix an "error" takes so much effort these days, right? He just wants to keep dumb Americans thinking that Obama's debt is greater than everyone else combined, clearly a lie. His website clearly states "43" presidents, and Bush has been out for almost 4 years, so coming up with the numbers earlier is a lame excuse, but I did expect a Romney supporter to cover for him. Just like Obama supporters will defend his lame ass record. That's why we're fucked.
- icuminpeace
- 10-24-2012, 06:30 AM
I see those numbers on the site. They're obviously wrong. Everyone knows the national debt was over $10 Trillion when President Obama took office. If you want to call it a lie, go ahead, but this one pales in comparison to most of Obama's lies. It could be an input error, or they could be intentionally trying to mislead.It's an issue because it's a matter of character. If Romney was honest, he would have my vote, but he's just another run of the mill politician. I expect more from someone that wants my vote. Just because Obama lies doesn't make it right for Romney to lie. Lying on simple things like this one that can be verified (of course, the majority of people are too lazy, they just like to repeat what they hear on NPR, CNN, MSNBC, FOX), is an insult to my intelligence. Therefore neither Romney or Obama are worthy of my vote. I'm sure neither one will miss it, but at least I'll be able to say that I did not participate in the decline of this great country. The rest of you that continue to support the single-, ehem, two-party system, will not be able to say that.
The fact is, they're both going to spend us into oblivion, so not sure why it is an issue. Originally Posted by CuteOldGuy
You guys are like the Obama supporters that defend all his lies and actions just because Bush also lied. Pathetic. No wonder we're fucked.
- CuteOldGuy
- 10-24-2012, 08:59 AM
I agree with you, ICUP, I'm not voting for either one of them either. We will not save this country by relying on Democrats and Republicans.
- Texas Contrarian
- 10-24-2012, 09:49 AM
Good catch, icuminpeace.
In post #2, trynagetlaid hit upon a key point; namely that the appearance of what seem to be some "funny numbers" (if you are aware of the $16.2 trillion "gross debt" number) has to do with intragovernmental debt (accumulated surpluses in the social security "trust fund", primarily, as well as a few other things).
But that doesn't explain the entire discrepancy!
In a nutshell:
The difference between "debt held by the public" and "gross federal debt" is (roughly) $4.9 trillion. (That's the aforementioned intragovernmental debt.) So debt held by the public is approximately $11.3 trillion today. Accumulated deficits since Obama took office total about $5 trillion, not $6.5 trillion.
As I noted in a recent thread, both campaigns have played fast and loose with numbers, apparently assuming that hardly anyone would notice.
In post #2, trynagetlaid hit upon a key point; namely that the appearance of what seem to be some "funny numbers" (if you are aware of the $16.2 trillion "gross debt" number) has to do with intragovernmental debt (accumulated surpluses in the social security "trust fund", primarily, as well as a few other things).
But that doesn't explain the entire discrepancy!
In a nutshell:
The difference between "debt held by the public" and "gross federal debt" is (roughly) $4.9 trillion. (That's the aforementioned intragovernmental debt.) So debt held by the public is approximately $11.3 trillion today. Accumulated deficits since Obama took office total about $5 trillion, not $6.5 trillion.
As I noted in a recent thread, both campaigns have played fast and loose with numbers, apparently assuming that hardly anyone would notice.