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Friday, February 01, 2013

Obama/DNC Ends Year $27.2 Million In Debt, RNC Ends With $4.7 Million Cash On Hand

By Susan Duclos

With spending battles and budget fights on the horizon between the Republicans who feel the nation should not spend more money than they bring in and Obama and liberals thinking a nation can spend their way into growth and out of debt, it becomes particularly interesting to see the end of the year numbers for Obama and the DNC versus the RNC.

Two different news organizations with the competing headlines.

First ABC News with "Obama Campaign, DNC End Year in Debt"

Campaign finance reports filed Thursday show Obama's campaign ended the year with $5.8 million in debt while his party's political arm, the DNC, owed $21.4 million.....

The two groups ended the year with a combined $7.5 million in the bank, but they hadn't used it to pay off they massive $27.2 million ebt accrued as of the filing.

Next headline from Politico: "RNC ends 2012 in the black"

The RNC "ended the year with $4.7 million in cash on hand."

That’s a stark contrast to how the party began the presidential cycle, when it was saddled with $24 million in debt. The debt was mostly accrued under the leadership of former party chairman Michael Steele. The committee has now paid off that debt and is running a surplus — putting the party in a solid financial situation going into the 2014 midterms.

These numbers encapsulate the whole spending/cutting debate that rages between Obama-liberals and conservatives.

Previous examples from Texas to Wisconsin has shown that when leaders understand the basic concept of not spending more than you take in, in other words, living within a budget, not only does it prevent major deficits, it creates a surplus.

As of October 2012, found that under Obama there had been a 52 percent increase in the nation's total federal debt. The debt held by the public had seen an increase of 79 percent under Obama.

The Obama years, just one term, saw the nation's debt rise more than it rose in George Bush's two terms and yet, Barack Obama was quoted as calling Bush "unpatriotic" for racking up the debt he did. (Video at the link)

What exactly does that make Barack Obama, using his very own words and standard?