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When Bush got into office, the national debt was $5.73 trillion and we had a budget surplus of $127 billion.
When he left office, our national debt was $10.7 trillion with an annual budget deficit of $1.3 trillion (which was the budget for 2009 through September).
Your facts are wrong, and the longer we all play the partisan rhetoric game, the worse we are. Pay attention to facts, and not spin from either side.
You are playing the partisan rhetoric game too when you mention Pres. Bush.
The President can't buy a cup of coffee on his own - CONGRESS SPENDS OUR MONEY, NOT THE PRESIDENT. So anyone that keeps blaming Bush or Obama isn't really being accurate, are they? Congress doesn't get nearly the blame they deserve for the mess we are in.
Actually no. Was just going to create a new topic on this subject.CONGRESS SPENDS OUR MONEY, NOT THE PRESIDENT.
The worst part is that obama is still carrying bush's failed polices. The tax break for the extremely wealthy cost about 100 billion dollars a year.
Breaking it down by party and gdp.
Notice that the democrats increase the gdp and reduce the debt. The republicans decrease the gdp and increase the debt.
President Obama has added more to the national debt that all 43 presidents combined.
Comments?
Line item veto is one of the most dangerous inventions in the 20th century. Right up there with the atomic bomb. It allows a president to "neuter" a bill and pass it into law, with out the approval of congress. For example, a line item veto can allow the president to ask congress for 4 trillion dollars in spending. Using the line item veto he can then cut anything out of the bill, but still keep the whole 4 trillion dollars. Or, if you want to fund x program, it allows the president to "black mail" them for campaign funds. Either you give me x amount (money, support,ect...) in campaign money or I will cut your spending.We need the line item veto to keep Congress from attaching riders to a bill. Pork Barrel Style. They never tell you those extras are in there.
Is all of that past money adjusted for inflation? I seriously doubt this administration/congress/whatever, has spent more that 235 years worth of history.
Line item veto is one of the most dangerous inventions in the 20th century. Right up there with the atomic bomb. It allows a president to "neuter" a bill and pass it into law, with out the approval of congress. For example, a line item veto can allow the president to ask congress for 4 trillion dollars in spending. Using the line item veto he can then cut anything out of the bill, but still keep the whole 4 trillion dollars. Or, if you want to fund x program, it allows the president to "black mail" them for campaign funds. Either you give me x amount (money, support,ect...) in campaign money or I will cut your spending.
No obama has not. That would be 11 trillion dollars, which would be impossible. Obama has spent a lot of money, but lets look at what he actually spent.
Military 1.4 trillion dollars, currently fighting two un-win-able wars.
Social security-700 billion dollars, a promised made from the past.
Medicare/mediaid- 600 A program to help those that can not get medical care on their own.
Interest on the national debt-400 billion dollars
Education/other-300 billion dollars.
Out of the 3.4 trillion dollars, he really has any say over the 300 billion. The rest was spent by the previous presidency's.
Bush's tax cuts, cost about 100 billion dollars a year in lost revenue.
socialist boogeyman image
President Obama has added more to the national debt that all 43 presidents combined.
Comments?
Reagan: plus 14.9 percentage pointsGHW Bush: plus 7.1 percentage pointsClinton: down 13.4 percentage pointsGW Bush: plus 5.6 percentage pointsObama: plus 24.6 percentage points(Note: We derived most of these data from table 7.1 of the budget office historical tables, which gives end-of-fiscal year figures, so they do not quite match up to presidential terms. Obama
I think its funny how we will keep printing money to attack whatever problem is popular at that point in time... hey gotta get elected don't we? Even if it means economic melt down...
... If you want to look up the real numbers. US Federal Deficit As Percent Of GDP in United States 2000-2010 - Federal State Local ...
Just because someone writes something, doesn't make it true or have any basis in reality.