They want to tax EVERYTHING

Followers

April 4, 201412 yr

Obama didnt start the war , he's trying to end it , much harder...

yeah 12.5 t was in 2012 probaly 2014 is 17 T... in Canada we have 1.1 and we think its too much!

Every Canadian need to give 37000$ to government to make deficit to 0$

in america... 17 Trillion divised by 310million peoples = 55000$ each american to make deficit 0$

the problem is growing up every year , probably why american want end war correctly and didnt help syria and ukraine...

2001 vs. 2011

Cause of change between CBO's 2001 projection of a $5.6 trillion surplus between 2002–2012 and the $6.1 trillion debt increase that actually occurred.

In June 2012, CBO summarized the cause of change between its January 2001 estimate of a $5.6 trillion cumulative surplus between 2002 and 2011 and the actual $6.1 trillion cumulative deficit that occurred, an unfavorable "turnaround" or debt increase of $11.7 trillion. Tax cuts and slower-than-expected growth reduced revenues by $6.1 trillion and spending was $5.6 trillion higher. Of this total, the CBO attributes 72% to legislated tax cuts and spending increases and 27% to economic and technical factors. Of the latter, 56% occurred from 2009 to 2011.^[52]^[53]

The difference between the projected and actual debt in 2011 can be largely attributed to:

$3.5 trillion – Economic changes (including lower than expected tax revenues and higher safety net spending due to recession)

$1.6 trillion – Bush Tax Cuts (EGTRRA and JGTRRA), primarily tax cuts but also some smaller spending increases

$1.5 trillion – Increased non-defense discretionary spending

$1.4 trillion – Wars in Afghanistan and Iraq

$1.4 trillion – Incremental interest due to higher debt balances

$0.9 trillion – Obama stimulus and tax cuts (ARRA and Tax Act of 2010)^[53]
The U.S. budget situation has deteriorated significantly since 2001, when the CBO forecast average annual surpluses of approximately $850 billion from 2009–2012. The average deficit forecast in each of those years as of June 2009 was approximately $1,215 billion. The New York Times analyzed this roughly $2 trillion "swing", separating the causes into four major categories along with their share:

Recessions or the business cycle (37%);

Policies enacted by President Bush (33%);

Policies enacted by President Bush and supported or extended by President Obama (20%); and

New policies from President Obama (10%).

Several other articles and experts explained the causes of change in the debt position