Obama and Our Debt

Nancy Pelosi has posted a chart purporting to show the different rates of increased federal debt under our last five presidents. There are two unfortunate aspects to it: The chart itself is both misleading and utterly wrong, and it has gone viral.

PolitiFact says of the chart:

• Debt vs. debt as a percentage of GDP: Some economists will tell you that it’s not the size of the debt per se, but rather the size of the debt relative to the nation’s gross domestic product. This helps minimize the complicating effect of economic cycles and inflation. So how do those numbers stack up? Using OMB statistics, here’s what we came up with, using public debt figures not adjusted for the president’s time in office:

Reagan: Up 14.9 percentage points
George H.W. Bush: Up 7.1 percentage points
Clinton: Down 13.4 percentage points
George W. Bush: Up 5.6 percentage points
Obama: Up 21.9 percentage points (through December 2010 only)

So by this measurement -- potentially a more important one -- Obama is the undisputed debt king of the last five presidents, rather than the guy who added a piddling amount to the debt, as Pelosi’s chart suggested...

...We rate it Pants on Fire.

Nancy Pelosi: Does she ever tell the truth?