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The National Debt Road Trip

Posted on February 21 2010 6:03 pm
Liz Blaine is a financial analyst, author and freelance writer on finance, economics and politics. Follow her on Twitter and her blog Liz Blaine.
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This is a great short video I thought I’d share since America has spent the past year living with the consequences of the extraordinary fiscal irresponsibility of President Obama and Congressional Democrats.

During President Obama’s first year in office the federal government spent $3.5 trillion. This amount far exceeds the spending by any other first-year president. For 2010 Obama and the Democrats passed a $2.2 trillion budget, which excludes the $1.9 trillion increased debt limit passed in February, all unfunded liabilities for Social Security and Medicare, and the $5 Trillion in Fannie Mae or Freddie Mac mortgage-backed debt. For 2011, they’re guessing they’ll spend a record $3.8 trillion.

So sit back and hang on tight because you’re about to see the ride America is taking with President Obama in the driver seat. The video answers these two simple questions using the analogy of a road trip by comparing how fast different administrations have been traveling.

How do the Obama deficits compare with past presidents? And how did the national debt get so big anyway?

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