In his press conference on January 14 of 2013, President Obama blamed Republicans for the massive federal spending of the last four years declaring that they must raise the Debt Ceiling “to pay their bills.” Republicans responded that Congress has not committed to spending because the president has refused to sign any budgets for the last four years. Obama and Senate Democrats have accrued $6 trillion dollars of debt through continuing resolutions that maintained the spending at the same rate as the year the government “bailed out” banks.
Federal Deficits since 2006 (budgets are allocated for the next fiscal year)
- 2006 Bush and Republican Congress - $167 billion
- 2007 Bush and Democrat Congress - $450 billion
- 2008 (*Bush) Obama and Democrat Congress - $1.4 trillion
- 2009 Obama, no budget passed - $1.3 trillion
- 2010 Obama, no budget passed - $1.3 trillion
- 2011 Obama, no budget passed - $1.2 trillion
- 2012 Obama, no budget passed - $1.1 trillion
*President Bush was supposed to be the signatory of the 2008 budget for 2009 spending that included the Stimulus, Omnibus, and bailouts, but Democrat Speaker Pelosi withheld the bill to be signed by Obama after his inauguration. Since then no budget has been passed, but the Democrat controlled Senate has passed Continuing Resolutions to maintain spending in violation of the law. President Obama insists that it was Bush’s bill and it was Republicans who authorized the massive deficit.
Of President Bush’s $4 trillion dollars added to the National Debt, $2.2 trillion was done through the Democrat Congress in his last two years. Republicans, who only controlled both houses of congress 2003-2007, account for $1 trillion added to the Debt. The remainder of the $4 trillion was in conjunction with the Democrat Senate 2001-2003 that added $800 billion. Since 2009 Obama and the Democrats added a further $6 trillion dollars in debt, bypassing the Republicans elected to control the House 2011-2013. Democrat’s excessive spending has been their hallmark since Nixon and doubled under Reagan when he cut taxes.