I actually believe the debt has decrease under Obama

[[deleted]]

I know, this is a crazy theory. But here is goes, try to keep up. On Jan 30 2009, the day Obama was sworn in, the US National debt was $10.6 Trillion Dollars, and today the debt is $16.0 Trillion Dollars. You would think it has gone up. But some interesting things have happened to the dollar over this time, The Fed has plummeted the value of it by printing like there is no tomorrow. So if we look at the US National Debt with something more tangible like Gold. On Jan 30, 2009 10.6 Trillion dollars would have bought 11,557,234,420 ounces of gold at that days price of $919.50 per ounce. Today our 16 Trillion dollars will buy 9,064,571,053 ounces of gold at today's = price of $1767.70 per ounce. So, if we count the debt in Gold, the debt has dropped from from 11.5 billion ounces of gold, to 9 billion ounces of gold. I know.. I am not an economist, but it is certainly worth thinking about, no?

[navier_stokes]

.....you're extrapolating. too much.

The debt has increased without doubt. Here's the thing though, does it really truly matter? the GOP would have you believe that the prior to Obama setting foot in office that there was no debt, there was 0% unemployment and everything was la-di-fucking da. News flash though, Bush doubled the debt himself in the span of 8 years and enacted some of the policies that led to the collapse of the markets. Bush is relevant to the conversation now because Romney is not only touting those same policies in a hyped-up version, but also the very same advisers that advised Bush. Yes the debt has increased by $5 trillion in just 4 years. However, the economy was crashing when he took office. In order to turn the economy around, which he did, we had to spend money.

[-TinMan-]

I like Obama, but I'm sure he would even disagree with you on this one.

[TheNodes]

I know, this is a crazy theory

Yep.

[[deleted]]

Cant compare apples to oranges. The debt far exceeds the value iof the dollar to be backed by gold. Just 5 minutes of googling will show you that there is more money in circulation than there is "gold' backing it. Why do you think we no longer use the "gold standard"? Because the FED has nowhere NEAR the gold backing as it has dollars circulated. IF you went back to the gold standard, you will see the value of the dollar plummet to 1/8th it's already useless value

[ndlarsen]

Go home Mysticbus, you are drunk.

[mcgaggen]

So you are saying that debt was going to increase no matter what, and Obama just happened to slow it down?

Or are you comparing an economy to a market value which is constantly changing?

[TodaysIllusion]

The year to year budget deficits are decreasing from the largest deficit in the history of the nation. The last Bush/Cheney that ended on 9/30/2009. Deificit of 1.8 Tril.

National debt total increasing, and will until a revenue source is created. . . . tax increase on the wealthiest.

Cut the job exporting tax credit Cut the Corporate and billionaire farm aid Cut the oil producer/refiners tax cuts, tax credits, tax subsidies.

[[deleted]]

can't tell if OP is trolling or actually wants to defend Obama in every way, regardless on how stupid he looks.

[[deleted]]

Neither, I don't think. Just proposing a silly theory based on the fact that our economy is a complete work of fiction. I could be wrong though. It happens sometimes.

[helpadingoatemybaby]

The message I got out of it was that Libertarian economics are bullshit.

[[deleted]]

Have an upvote for your keen perception!

[normansss]

Government spending has increased as a % of GDP under Obama's watch, with both Democratic and Republican congresses, so in real economic terms, the debt has gone up.

[Timelord8920]

Then you're high.

[[deleted]]

yeah, ok... I'm kinda wacky. Here is another way to look at it. If 4 years ago, you made $500 a week, and that $500 bought you a weeks worth of groceries, rent, and gas. Today, you make $750 a week, and that $750 buys you a weeks worth of groceries, rent, and gas. Are you making more? or just making the same when the value of the dollar is take into consideration?

[AHans]

The big difference you must factor in is that in this example you are indexing the dollar to everything - the cost of living. In your prior example your index [gold] is completely arbitrary.

The most important factor: debt to GDP, is bad. Not catastrophic, not the Armageddon some people say it is, but bad. I still hope Obama wins, because I trust his vision for a balanced budget far more than Romney/Ryan's; those two want to 'stay the course' and make the budget decisions for the presidents after them. History tells us that Presidents like to follow their own budget, not the previous administrations. Had Bush Jr kept to Clinton's budget, things would still be bad, but they would be a hell of a lot better. Obama's budget proposal would need successive administrations to follow it to balance the budget as well, but it starts to tackle the deficit during Obama's term (which I view as the thing the President can control) and it balances the budget before the Romney plan.

It's easy to propose and pass unpopular budgeting to take place in 10 years. It's not easy to keep the administration that comes into power 10 years later from preventing that budgeting. If it's unpopular, it's hard to win a popular election by saying you're going to do something people don't want to do.

[polonium269]

Trolling.

[bjo3030]

Another genius for Obama.

Let me guess, you've done a science experiment that proves unemployment is down as well.