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Under Bush's terms, the National Debit was raised 27% from when Clinton Left office (who had a positve change in stead of negative one - meaning, that hte DEBT was actually being paid off). Only under Bush did we lose all that Clinton's term paid off, but added an additional 11% of debt in his term.
Under Obama, the debt only raised nearly 10% from his predecessor.
Under Bush's terms, the National Debit was raised 27% from when Clinton Left office (who had a positve change in stead of negative one - meaning, that hte DEBT was actually being paid off). Only under Bush did we lose all that Clinton's term paid off, but added an additional 11% of debt in his term.
Under Obama, the debt only raised nearly 10% from his predecessor.
That is only because they are not into helping fix problems. They're into political game play at any cost.
Something that has happened under every President, most recently since Carter.
But the problem is that in 3 years, Obama racked up more debt than all the Presidents in the history of the nation. And he did it after the economy had been so systematically gutted that it was unable to bear ANY significant debt burden--let alone a debt so large it would swamp even a prosperous world economy.
Yes, all spendthrift Presidents are bad. But there's a big difference between spending an amount that could be realistically repaid, and spending so much that national bankruptcy and the attending economic collapse is inevitable.
It's like having an income of $50,000 a year and being a gambler who racks up $10,000 worth of gambling debt--versus someone making $50,000 a year and racking up $30 million in gambling debt. One is recoverable, the other is not.
In fact, the numbers are far worse than the government will ever admit, and our national debt was so large it was a disaster even before BO ran rampant with spending. Even back in 2008, when the deficit was only half a trillion (instead of the more recent $1.6 trillion every year): "the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world....The real 2008 federal budget deficit was $5.1 trillion, not the $455 billion previously reported by the Congressional Budget Office...The difference between the $455 billion "official" budget deficit numbers and the $5.1 trillion budget deficit cited by "2008 Financial Report of the United States Government" is that the official budget deficit is calculated on a cash basis, where all tax receipts, including Social Security tax receipts, are used to pay government liabilities as they occur." Federal obligations exceed world GDP But while SS receipts are included in income, they are ignored in terms of liability. Yet another game played to make the numbers look much better than they actually are.
But the problem is that in 3 years, Obama racked up more debt than all the Presidents in the history of the nation...
I would have blamed him if he had not stepped in at the time the nation was on its way to losing 8.8 million private sector jobs, with median wages at a level lower than they were in 2000 and a disaster of an economy that had guaranteed the worst recession since 1982, and to top it off, low tax revenue (the last Bush budget had a $1.4 trillion in deficit), and two wars.
Besides, a President doesn't hold the magic wand. Bush didn't as he saw a much milder recession in his first year, that didn't lose as many jobs as rapidly but the recovery was among the slowest we had seen in decades. We're in an economic debacle not because of Obama, but because of rampant political hackery and disaster of an economy for at least a whole decade.
Heck, you showed some love for Medicare Advantage yesterday. Isn't that also an unpaid plan put on the lap of future Presidents, a $800 Billion "gift" by itself?
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