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
  • Invest in more clean energy

    Editor, The Transcript: Ken Miller’s July 19 article, “Okla. Wheat Crop Worst in Nearly half a century,” states the economic hardship that the current drought is having on Oklahoma wheat farmers, who have been forced to feed their wheat to ...

    August 2, 2014

  • Just wondering about things

    Editor, The Transcript: Why are our companies still investing so much in China, now that they own over a trillion dollars of our debt? Why is China pouring billions into their military and threatening many of their neighbors? Why don’t we ...

    August 1, 2014

  • Expansion effect evaluated

    Editor, The Transcript: The effect of the Medicaid expansion rejection and acceptance on hospitals’ uncompensated costs are now being evaluated....

    July 31, 2014

  • Community Action mostly closed due to cutbacks

    Editor, The Transcript: The Community Action, at 1155 E Main St. in Norman, for decades has served Cleveland County with the following everyday services: a food pantry, short-term housing for the homeless, providing rides for those without ...

    July 30, 2014

  • Nutritional article should be accurate

    I read with interest the July 13 article “Are low-carb diets really healthy?” by Cassidie Day. Unfortunately, a number of statements in this article were incorrect. The first problematic statement was, “Carbs are an essential nutrient ...

    July 29, 2014

  • Hospital story headline was too sensationalized

    Editor, The Transcript: On July 18, The Transcript ran a front page article with the headline “Lawsuit filed against Norman Regional — Civil suit alleges improper billing practices by NRH and contracted physicians groups.” As a first page ...

    July 29, 2014

  • Help better than commentary

    For the last seven years, I have helped run Hands Helping Paws, an animal welfare and rescue group that fosters Norman’s abandoned animals and advocates for spay and neuter initiatives to reduce our community’s problems with stray and ...

    July 27, 2014

  • Stick to the sports

    Editor, The Transcript: Why must we, especially us nice conservatives, be subjected to political commentary in a sports column? I hear/view Fox News routinely and find their coverage quite acceptable. I also hear/view CNN and MSNBC. I ...

    July 27, 2014

  • Corporation Commission should should evaluate quakes, fracturing

    Editor, The Transcript: Is your house at risk of being damaged in an earthquake because of fracking? Maybe. We’ve seen more earthquakes and tremors in Oklahoma seven months into 2014 than in the two previous years combined. At the same ...

    July 27, 2014

  • Norman can stop fracking before it escalates

    Editor, The Transcript: There are 163 fracked wells within Norman city limits. With growing attention to health and safety concerns, the city is considering changes to the existing oil and gas ordinance....

    July 27, 2014