Last week President Obama tried to claim innocence when discussing our country's rapidly exploding national debt. I scratched my head... “does this guy really think we’re that stupid?”
Then Tuesday, after President Obama told an audience at a fundraiser that he was “stuck with the tab” from President Bush’s spending, I felt the need to stop the madness.
So I went back and crunched the numbers. I took a look at all the federal budgets starting with the year 2000 and ending with 2011. I made sure to use spending numbers by month due to January spending for a newly elected president should be attributed to the prior White House.
Here’s what I found (see graphic above)
When you annualize the numbers, the similarities and differences are startling. Notice that the revenues for GWB and BHO are very close. The country has annual inflows (taxes, fees, licenses, etc.) that have remains stable between the two presidencies.
Then, the spotlight goes on... It’s the spending numbers between the two presidents that are very different.
As you can see, the annual addition to the national debt is strikingly dissimilar between the two presidents. President Bush’s policies added, on average, $309 billion to the national debt per year, while President Obama’s has added, on average, $1.311 trillion per year.
So how can I highlight the difference in debt contribution by president? By using Dunkin Donuts Dunkin Munchkins, of course!
On one tray, I put 31 Munchkins, each representing $10 billion of Bush debt. On the other, there are 131 Munchkins each representing $10 billion of President Obama’s annual contribution to the national debt. The two trays side-by-side shine a bright light on President Obama’s false claim that the ballooning of the national debt has little to do with him.
Eric Bolling is co-host of "The Five" on Fox News Channel.
Eric Bolling currently serves as co-host of Fox News Channel's "The Five" (weekdays 5-6PM/ET). He also serves as the host of "Cashin' In" (Saturdays 11:30AM-12PM/ET), an analysis program on FNC's weekend business block, "The Cost of Freedom." Bolling joined the network in 2008. Click here for more information on Eric Bolling.