The Norman Transcript

Letters

October 10, 2012

Federal debt keeps growing

NORMAN — Editor, The Transcript:

In response to “Your View,” (Chris Gentry) the Transcript, Sept. 27. The figures you quote about President Barack Obama’s spending are very close to accurate. But you stopped short of the whole story.

During the Obama administration, $6.3 trillion has been added to the federal debt. In 2008, public debt was 40.5 percent of the Gross Domestic Product (GDP). It is now 74.2 percent and growing.

President Obama has spent more than the five presidents before him combined. Total outlays in the four budget years ending and including Fiscal Year 2009 was $11.882 trillion. Total spending for the four years after that will total approximately $14.645 trillion. This is an increase of almost 24 percent.

When President Obama took office, the national debt was about $9 trillion. During his administration, the national debt has increased an astonishing $7 trillion at a rate of more than $4 billion per day. The national debt has passed the $16 trillion mark and is growing so fast that a current figure cannot be quoted here.

When G.W. Bush left office, the federal deficit was $459 billion. The deficit is now $1.3 trillion and growing. The White House predicts this year’s federal budget deficit will end up at $1.2 trillion, marking the fourth consecutive year of trillion dollar-plus deficits during Obama’s administration.

All these figures can be verified at official government websites dealing with spending.

THOMAS G. NIBLETT

Chief master sergeant (ret.), United States Air Force, Norman

For local news and more, subscribe to The Norman Transcript Smart Edition, or our print edition.

1
Text Only | Photo Reprints
Letters
  • Change some lines

    Editor, The Transcript: Looking at how our elected Republican friends are reacting to the refugee children crossing the border and now being housed in Lawton, I have a suggestion. Let’s edit the Christian Bible in several places to reflect ...

    July 21, 2014

  • New health care system demonized

    To the Editor: In October 2013, soon after we were asked to take over management responsibilities at our family business, we were visited by the company’s health insurance agent. She explained that a decision needed to be made regarding ...

    July 21, 2014

  • The longer the wait, the higher the cost

    Editor, The Transcript: Thanks for the great article of July 3 on the Norman chapter of the Citizens Climate Lobby group that recently went to D.C. as citizen lobbyists, working to get a revenue-neutral carbon pollution fee, refunded in ...

    July 20, 2014

  • Natural beauty makes way for parking

    Editor, The Transcript: In support and response to an editorial in The Transcript on June 28 by Pam McIntosh, I am writing this article. In the early ‘70s, many years ago, I lived in what was known as the Sooner Mobile Home Park on South ...

    July 20, 2014

  • Trees do job too well

    Editor, The Transcript: State Rep. Richard Morissette should stick to the concrete and asphalt world, where all of nature has already been killed and people live in fear of living things. Leave our beautiful cedar trees alone....

    July 20, 2014

  • Young people barred from education

    Editor, The Transcript: State universities were created to be the avenue of middle class opportunity in America....

    July 20, 2014

  • Common Core fallacies

    Editor, The Transcript: The article ‘Radioactive’ that discussed Common Core (Transcript, July 14) quotes the fallacy from Republican governors that Common Core is a Federal program; it is not. Many conservatives, especially those labeled ...

    July 19, 2014

  • A pattern is emerging

    Editor, The Transcript: Over the past several weeks, three seemingly unrelated events caught my attention. First, near the end of the legislative session, the House and Senate passed with much fanfare and publicity legislation giving ...

    July 12, 2014

  • Voting for our priorities

    Editor, The Transcript: Ok, let me see if I’ve got this straight. When the federal government ended its program of providing $13-$16 million in surplus equipment each year to fire departments, our state and congressional leaders ...

    July 11, 2014

  • Misleading statistics make schools look bad

    Editor, The Norman Transcript: Once again the Norman Transcript has used as a main story someone writing what appears to be designed to make schools and school administrators look bad, and which uses misleading statistics instead of real ...

    July 6, 2014