Posted by: arnegrim | July 20, 2011

debt ceiling in perspective

“…Obama wants to borrow and spend about the same amount of money to get from August 2, 2011 through November 6, 2012 as we borrowed and spent to fight the Axis powers on two fronts from December 7, 1941 to August 15, 1945.

To give another comparison, from the year of Obama’s birth, 1961, through the last year of the Reagan administration, 1988, the United States of America accrued $2.4 trillion in new debt — again, in inflation-adjusted (2011) dollars. So Obama is now insisting that he be allowed to rack up the same amount of inflation-adjusted debt in the next 15 months as Kennedy, Johnson, Nixon, Ford, Carter, and Reagan did during Obama’s first 27 years…”


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