The 2012 National Debt Road Trip

Uploaded by 10000Pennies on 04.04.2012

As the National Debt continues to grow
the most common defense of
President Obama I hear is:
"George Bush went nuts on deficit spending,
Obama's deficits are no worse than that."
Federal deficits and debt deal with so much money
it's often hard to get the scale of it all.
I like to look at the National Debt as a sort of road trip.
I did this in 2009 but I only had President Obama's
projections to work with.
Now, 3 years later, lets see how things actually played out.
We'll start in Long Beach California and say that every mile
we travel away from the west coast is equal to 5.8 billion dollars.
We'll call every year an hour that way we can convert the amount
of debt that has increased in a way
we're all familiar with: miles per hour.
We'll adjust all the numbers for inflation and,
for the sake of brevity, we'll start in 1981.
At this point the debt is $2.3 trillion, which means
we're across California and just south of Phoenix.
During the 8 years President Reagan is in office
we go about 55 miles per hour, through Arizona,
across New Mexico and just into West Texas.
During George H W Bush's 4 years we speed up to 74 miles per hour
taking us into the middle of nowhere Texas.
Which is where we stay for most of President Clinton's term.
A combination of fantastic economic performance and
slow budget growth mean we've slowed down to about 18 miles per hour
ending up about 100 miles outside of San Antonio
which continues to be the middle of freaking nowhere.
But when President Bush comes into office,
the economy slows down and we see some tax cuts which means
lower revenue, even as spending accelerates.
This means Bush was clipping along at nearly 82 miles per hour,
speeding through Texas, Louisiana and into Gulfport, Mississippi.
Presidential candidate Barack Obama called this debt
"irresponsible, unpatriotic" and "a sign of
leadership failure" so you can imagine that when
he came into office he hit the brakes pretty hard.
Unfortunately his foot slipped and he hit the gas instead.
As of April 2012 under Obama the debt has increased
at an exciting 237 miles per hour, taking us
further in 38 months than Bush did in eight years.
Some people object to this kind of talk saying:
"President Obama inherited a screwed up economy
and it doesn't turn on a dime.
He had to pass the stimulus to get us out of the
hole that Bush dug so the debt increases
under Obama are actually Bush's fault.
So here's what we'll do:
Let's say Obama isn't responsible for anything
that happened in the first 38 months of his presidency.
But we are going to hold him responsible for the debt
starting... now.
Well, according to President Obama's own budget estimates,
from now until the end of his second term
he plans on slowing down to 173 miles per hour,
taking us from Miami across the Caribbean
past Cuba and Haiti until
we are within sight of Puerto Rico.
Which I hear is an excellent place to vacation
if someone else is paying the bills. CHEAP SHOT!
And this is all with a growing economy
and some very optimistic revenue estimates.
Someone once called President Bush
"irresponsible, unpatriotic" and "a leadership failure"
for increasing the debt half that fast,
but I can't remember who it was.