National Debt Exploding under Bush (pushing $10 TRILLION!)

[FreedomInAmerica]

Clinton didn't leave a surplus but a $1.4 trillion debt over eight years. He borrowed from Social Security, part of a $115 Trillion unfunded liability, to make it seem he left a surplus. See my about me for links.

.

Allen West 2012

[BI30]

@FreedomInAmerica If you can't figure out the difference between "Debt" and "deficit", there isn't any point in going on.

[FreedomInAmerica]

@BI30

.

Deficit is defined as how much you owe in a given year. Debt is the total amount due.  Clinton contributed $1.4 Trillion to our total debt. Our debt clock {usdebtclock org} should be revised to $21 Trillion ($5.6 alleged surplus + 1.4 Trillion Debt + $14 Trillion debt) reducing our $115 unfunded liabilities by $7 Trillion to reflect truth about Clinton.

[BI30]

@FreedomInAmerica You've only rephrased what I already said about what a "deficit/surplus" means: It's the difference between the cost of that years Budget and that years revenue. But when you start talking about "$5.6 (trillion?) alleged surplus", you're off in Lala land. $5.6 Trillion (actually $5.2T) was the TOTAL *DEBT* when Clinton left, NOT "alleged surplus".

[FreedomInAmerica]

@BI30

.

Hillary claims it was $5.6 Trillion. watch?v=ohNQNtSme_k Her husband was the one who doctored the books making it seem like a surplus when they borrowed from social security.

[Nerocification]

Clinton didn't leave a surplus but a $1.4 trillion debt over eight years. He borrowed from Social Security, part of a $115 Trillion unfunded liability, to make it seem he left a surplus. See my about me for links.

.

Allen West 2012

[BI30]

@Nerocification You are confusing "Debt" with "deficit". For two straight years, the National Budget spent LESS than projected revenue.... ie: "surplus". Now, did the "Debt" go up "$1.4T" under Clinton. Yes. And had Bush of not exploded the budget with two endless wars and tax cuts for wealthiest 2%, we would of actually have PAID OFF THE NATIONAL DEBT BY 2010.

[Nerocification]

@BI30

.

No I didn't. 

[BI30]

@Nerocification Yeah, you did. Your number, "$1.4T added by Clinton", that's "Debt", not "deficit". The word "surplus" refers to the *annual* budget, and whether or not we spend more than we take in. You seem to want to argue that "all long as you owe Debt, you really don't have a Surplus." Tell that to George Bush when he argued that the "surplus" justified his huge 2002 tax cut on the grounds, "It's not the government's money, it's your money."

[Nerocification]

@BI30

.

I reiterate, no I didn't. Go to my page and see the link associated with it. I added up the deficits for all the years he was in office to equal the debt he accumulated in office.

[BI30]

@Nerocification I don't care what you wrote on your page. His last two budgets spent LESS than that years tax revenue. That's called a "Surplus". One needed pay off the entire National Debt before we can claim they left a "budget surplus".

By that argument, George Bush created a $10.4 Trillion dollar debt."

[Nerocification]

@BI30

.

Bush only contributed $5 Trillion to the debt since it was around $5 trillion when he took office. All you have to do is look at the US Treasury official website. It's reported that Clinton ran a deficit every single year he was in office. The accumulation of the deficits are his total debt that he accumulated, but his economists borrowed and propagandized borrowing from a portion of our $115 trillion unfunded liability, aka social security.

[BI30]

@Nerocification That's a different argument. Claiming he didn't run a budget surplus "because he ran up $1.4T in Debt" makes no sense. But if you are arguing the only way the Republican-led Congress "balanced" the budget was to borrow from Social Security, then say that. That's a different debate.

[Nerocification]

@BI30

.

No, I'm just telling you what Clinton did.

[BI30]

@Nerocification So you're NOT claiming the Republican Congress "balanced the budget" by borrowing from Social Security? You're instead going to continue to insist that Clinton never actually passed a balanced budget because he "added $1.4T to the National *Debt*"?

[FreedomInAmerica]

The debt when George W. Bush took office was $5.727 Trillion when he left it was $10.627 Trillion. The total debt that George W accumulated in eight years of office is $4.9 Trillion The debt right now is $13.736 Trillion. In approximately 666 days in office, he has accumulated $3.066 Trillion. Using simple algebra you'll find by Dec 2011, Obama will have accumulated more debt in three years than George W. did in 8 years.

[BI30]

@FreedomInAmerica Let's not confuse "facts" with "figures". The first years budget of every President is written by the previous administration. *Obama's* first budget... 2010... was $300B LESS than Bush's last... 2009.

[FreedomInAmerica]

@BI30

Every President is responsible for their time in office. I know Obama tried to tell you that his entire Presidency was Bush's fault. But Obama signed $800 Billion TARP, $862 failed Stimulus, Obamacare, and essentially took over 71% of private industry unless it's stopped. He failed the American workers, because no one focused on jobs at all. The DREAM Act is a floodgate to amnesty. Furthermore, if you kicked out the illegals, the unemployment could be reduced to 2.1%.

[BI30]

@FreedomInAmerica I have a blog you should checkout: MugsysRapSheet,com. The subtitle of which is "Recording history for those who seek to rewrite it."

TARP took place under Bush. The Stimulus was $750B not $862, $450B of which was eaten up in worthless tax cuts. The DREAM act offers citizenship to the children of immigrants... children that committed no crime and require no "amnesty", and if you think 3 of every 4 stores you pass on the street are owned by the gov, you live in Fantasy Land.

[FreedomInAmerica]

@BI30 NO, it was $862 Billion Stimulus . * Food stamps (officially known as the Supplemental Nutrition Assistance Program): $34 billion more than expected . * Build America Bond program: $26 billion more . * Unemployment compensation: $21 billion more . * Medicaid: $3 billion less than expected . * Other spending: $3 billion less

[BI30]

@FreedomInAmerica You're totaling up the amount the Federal Government spent in AID and labeling it under "The Stimulus".

If that is your guide, I'm lumping $11 Trillion in Corporate Welfare to the Bush Tax Cuts for the wealthy.

[FreedomInAmerica]

@BI30

.

GOOGLE "$862 BILLION STIMULUS" even the Congressional Budget Office recognizes Obama's first stimulus as $862. You liberals are DENSE.

[BI30]

@FreedomInAmerica You confuse "The Stimulus" with the ARRA ("American Recovery & Reinvestment Act"), which indeed has been revised up to $862B OVER TEN YEARS (to 2019). The increase is NOT due to increased spending, but REDUCED REVENUES due to high unemployment.

Gee, you're dumber than a Liberal.

[FreedomInAmerica]

@BI30

I understand that Obama's $862 Billion stimulus is titled when passed by the President and Congress as "The American Recovery and Reinvestment Act of 2009" just like I understand that Obamacare is titled "Patient Protection and Affordable Care Act of 2009 " These two massive spending programs are commonly known as "Stimulus" and "Obamacare". Just like a typical liberal, you have zero understanding of things, so I'll let you wallow in ignorance.

[BI30]

@FreedomInAmerica Mea Culpa here. I realized my mistake as I was heading out the door. You are indeed correct that the ARRA and "The Stimulus" are the same. I was thinking "bailout".

BTW, do you remember your original point?

[FreedomInAmerica]

@BI30

.

What do you think one of the first things immigrants who get citizenship do? They get their families citizenship. There are about 2.1 million illegal immigrants who qualify for DREAM Act. They will surely take away employment opportunities of the 15.1 million who are unemployed. Currently, 11 million take jobs away in skilled labor positions. Get off YouTube and GOOGLE, "illegal immigration statistics" and "illegal immigration counters"

[BI30]

@FreedomInAmerica I love the name "FreedomInAmerica" coming from a fascist little racist like yourself. You only want "freedom" for those in the "lucky sperm club" that just happened to be born in this country.

MANY of the kids who qualify for the DREAM Act are putting their butts on the line in Afghanistan in Iraq while pussies like you are whining about allowing them getting jobs as citizens when they return.

DREAM Act qualifiers EARN their citizenship a crapload more than you did.

[Ray21C]

Obama Added More to National Debt in First 19 Months Than All Presidents from Washington Through Reagan Combined, Says Gov’t Data. Google it.

[BI30]

@Ray21C Yes & No. The first years budget for any President is written by the previous administration, and Obama put the cost of the wars back on the budget, whereas Bush kept the wars "off the books" using "supplimentals" to make the deficit look smaller than it was.

[sharktrinity]

@Ray21C

First 19 months? Does that include Bush's conditionless wall street bailout of .7 trillion that got topped onto the 2009 deficit since the fiscal year begins in October?

His deficit in 2010 is a record breaker, but saying he added more to the nat'l debt than all combined is a total lie. Reagan is the only who has that honor, tripling it from 1 to 3 trillion, and Bush piled on 5 trillion doubling it.

RETARD.

[Esnip3]

Screw the republicans

[ovensleeper]

@Esnip3 Why pick sides? Hate them all...

[Esnip3]

@ovensleeper what are you a radical? i rather go with Demacratic

[Unclesamslair]

notice how back in 2006 the tea partiers were just fine with bush's debt. fox news didn't even bat an eyelash

[highwater03]

@Unclesamslair

Yep. The difference was that Bush had a skin color that was more to their liking.........

[mef75baby]

When Obama was sworn in the budget deficit was 1.2 Trillion and the projected debt of 8 Trillion over 10 years. Today, the deficit stands at 1.3 Trillion with a projected debt of 9 trillion over 10 years!

Conservatives always say Obama is tripling the debt and he is such a BIG spender but the numbers don't support this claim!

While he has added to the debt, his spending was no where close to Bush's spending!

[Ray21C]

Obama has spent more money on new programs in nine months than Bill Clinton did in eight years, pushing the annual deficit to $1.4 trillion.

[BI30]

A short story: two brothers have $1,000 each.

The first brother spent $2,000 buying each of his friends dinner, going $1,000 into debt.

The second brother, rather than just pay off the first brothers' debt and be left with nothing to show for it, instead finds jobs for all his brothers deadbeat friends at a cost of $2,000 but with a promise to repay him later, leaving the two brothers $4,000 in debt.

Q: Were the two brothers equally wasteful?

[BI30]

(Oops, that should read "leaving them $2,000 in debt". My goof.)

[Ray21C]

That's your take huh? I find it funny that all the Liberals were beside themselves about how terrible Bush was for sending out those $600 stimulus checks, and yet Obama passes the multi-trillion dollar economic stimulus package? Hmmm. By the way, unemployment is the worse it's been in over 20 years. Seems like he really found jobs for those "deadbeat friends."

I'm not necessarily a fan of Bush either, but Obama is destroying our country faster than any politician before him ever has.

[BI30]

If Obama handed out "Stimulus checks" like Bush did, I'd be furious. Spending money to create jobs is brother #2. Handing out "stimulus checks" is Brother #1.

When unemployment topped 10% ten months into Reagan's presidency, it was "Carter's fault". When unemployment topped 10% ten months into Obama's presidency, it's "Obama's fault"? Reagan's solution? Massive deficit spending.

[fuzzywzhe]

@BI30

> If Obama handed out "Stimulus checks" like Bush did, I'd be furious.\

Only financial criminals get them.

> When unemployment topped 10% ten months into Reagan's

> presidency, it was "Carter's fault". When unemployment topped

> 10% ten months into Obama's presidency, it's "Obama's fault"?

> Reagan's solution? Massive deficit spending.

Obama's response is massive deficit spending too.

Obama is the fucking Uncle Tom of Bush you morons. He's no different.

[medartist01]

@Ray21C rewrites history like he's got Alzheimers. Hey, moron, before criticizing Obama for trying to solve the economic mess he inherited from Bush, read what Republican FED chairman Bernanke and fiscal chief Paulson said. They agreed that Keynesian economics WAS ONLY WAY and LAST HOPE to save the nation from another Depression. We were days away. And it was Bush who birthed TARP, brainless. Plus, Bush added almost $8 trillion already to the Debt/Deficit, moron. Teabaggers get a brain.

[EndorphineT78]

@Ray21C YOU ARE AN ABSOLUTE DICKBRAIN. HAHAHA YOU STUPID REPUBLICAN BAHAHAHA. OBAMA IS TRYING TO REFORM THE COUNTRY TO MAKE SURE THAT IT IS FAIR FOR EVERYONE. E>G PUBLIC HEALTHCARE AND FREE EDUCATION.

what he is doing is far from destroy your country. by the time he took office it was already destroyed. and you know what, you yanks have been given a chance with obama and now your complaining. you know what stuff it re-elect republicans like mindless palin and i wanna see your country buried

[bigluke444]

@Ray21C why would u bother making this video? whats it gonna do to help fix things? quit complaining, grow some balls, and write to congress... b4 its too late

[sharktrinity]

@bigluke444

Spreading the word to others equals numerous people writing to congress versus this individual not making a video and just writing himself.

The better question is if he should spend his time writing to congress, why are you watching it imbecile?

# 2 RETARD comment on this vid.

[bigluke444]

@sharktrinity cuz im a teenager, dickheadd!!!! :) shut up

[sharktrinity]

@bigluke444

You must be a needle dick if that's the case. At least when I was a teenager I wasn't wasting time speaking on ish only to admit I was a moron on the material. You motherfuckers are bored

[mef75baby]

can you name these programs?

[Ray21C]

Are you serious? Sti-mu-lus

[medartist01]

All Ray21C has to do is look up the facts on wikipedia. But these Rebumblican hacks are too stupid to even google it. mef75baby is correct, Bush doubled the National Debt to almost $12 trillion in only 8 yrs. The Republican BORROW-and-BORROW-and-SPEND philosophy did just that. Not to mention trainwrecking the economy and financial sectors before he left office, and giving Obama a record $1.3 trillion deficit on Day 1. Did we forget the 2 failed, ongoing wars, and unemployment? GOP = terrorists.

[Relugus]

The solution is to cut the Pentagon's budget by at least 25% (they waste 25%).

Welfare spongers like Lockheed and Northrop Grumman should be told to pay for themselves.

Making Corporate Welfare and tax breaks illegal would also help.

Obama's programmes are at least designed to help the AMERICAN people, whereas Bush's tax cuts for the rich and handouts to the corporations are designed to benefit greedy bankers and war profiteers.

Bush encouraged US companies to employ foreigners.

[highwater03]

@Relugus

Cut the Pentagon's budget, yea, like far right loons would go for that. lol

[teron678]

I'm surprised you folks bash Obama for his Spending ... Obama made the electorate know what he was planning to do if he won the presidency ... he wasn't silent on this matter ... He like all the other Democrats who run for POTUS .. don't campaign on Fiscal Conservatism & Small Government like the Republicans ...

After 6 years of seeing what the So called party of Small Government & Fiscal conservatism controlling congress & WH ... DID ..

I rather Obama's Spending .. than the GOP HYPOCRISY!!!

[highwater03]

@teron678

Bingo.

[jscottupton]

For someone like me who opposed both Bush AND Obama, there is little comfort in hearing "Well Bush did it too....". The fact of the matter is that spending was out of control on Jan 19 (the day before Obama took office) and since that time it has gotten much worse. Certainly Obama does not bear all the blame. But he does deserve much blame NOW. He had a choice to veto these crazy, wasteful "stimulus" bills that only stimulate big government.

[BI30]

I explain it to people this way: You can't fill a $3Trillion dollar hole with "change" (pardon the pun). Sometimes you have to spend some real money.

[jscottupton]

This whole thing goes back to the New Deal and even further back to the Federal Reserve Act.

[AMPDOG2]

but let fox tell it 1.8 trillion is double the bush debt.

[waddleduckie1]

The debit has already tripled when Bush was in office. It spiraled out of control.

[sjk5000]

fuck you republicans

[ovensleeper]

OK, so 800 billion and a proposed 410 billion dollar bailout plan in a matter of 1 MONTH is really better? All the tax hikes will do is pay of the off the additional spending. There will be NO MONEY going towards paying off the national debt.

[sjk5000]

so what can we do to cure this debt, let everything fail and if so what will happen if we let things fail

[ovensleeper]

Well I believe in the free market unlike you. America's supposed to be capitalist, and I'm not in the minority by opposing government's excessive spending. MOST AMERICANS opposed the bailout bill.

[AMPDOG2]

guess who aproved the first bailout (not obama) before obama took control

[ovensleeper]

Did I say Bush's bailout was good? NO. My point was that Obama's spending is far worse as he'll most likely top Bush's spending in 8 years in about 2 years.  Now that's far worse if you ask me, but hey, maybe that's just me...

[highwater03]

@ovensleeper

Spending will be $6 trillion in 2 years? lol

It's been close to two years and Obama hasn't spent $6 trillion. Spending unde Bush was $6 trillion.

[ovensleeper]

@highwater03

His spending WAS on pace to top Bush's within 2 years at the time. It's hard to make a precise prediction, especially when you're dealing with something as arbitrary as national spending. Now I was wrong, I'll admit it, but who could honestly give an accurate prediction with Obama? You never know what he's gonna pull...

I became a strong opponent of Bush's spending and was strongly against his first bailout, but let's not kid ourselves, 8 trillion in 8 years is far worse than 6..

[BarbieGirlsism]

@ovensleeper

,

The debt when George W. Bush took office was $5.727 Trillion when he left it was $10.627 Trillion. The total debt that George W accumulated in eight years of office is $4.9 Trillion The debt right now is $13.018 Trillion. In approximately 490 days in office, he has accumulated $2.391 Trillion. Using simple algebra, you'll find that Obama will have accumulated in 2.75 years (Sept 2011) what George W. did in 8 years.

[ovensleeper]

@BarbieGirlsism

I guess in some ways I was right then... Obama's on pace to spend far more than any other president in this era.

[BarbieGirlsism]

@ovensleeper,

.

Indeed! Apparently with Cap and Trade, the American Power Act, and Senate Bill 3217, he's also poised to take over more of private industry.

[CmdrTobs]

@BarbieGirlsism If you used something simpler than algerba BASIC reasoning and BASIC civics you would realise that the previous presidents budget is in place for the first Fyear. After inorgration the president does not instantly create a new budget.

So 1.1T of that is 100% Bushes. Another 0.3 Trillion again is arguably bushes as that's how much tax revenue has been lost since he tanked the economy in sept 2008 in that year. So ANYONE who took office by default would have had to spend ~1.5T

[swani24]

Your retarded, Obama TRIPLED the national debt in his first 3 months!!!

[crusaderg77]

If he didnt, we wud be in a depression by now. He needed to stabilize banking.

[highwater03]

@swani24

First, it's "you're", not "your" retard. The debt was $11 trillion when Obama took office. In order for it to have tripled, it would have to be at least $33 trillion. Today it's $13 trillion. How is $13 tripled of $11? Are you that dumb or do you simply play like it? How'd that conservative education work out for ya?

[jagajg]

Only 28000 per person? That doesn't sound so bad...

[roylikesitlikethat]

Broke is no jOKE

[Anythingwilldo41]

"Maybe I will move to China since China will own the USA" Thats either a joke or your showing us how stupid you are. No country will ever own our country, if anything happens we can always resort to the army or weapons, we spend more money on guns/bombs/army then the entire world combined. So no, china will never own us, your getting WAY ahead of yourself.

[JeffJ1974]

And they say the kids will ruin this country.too late someone eles beat us to it,who? old congressman and presidents,Gee thanks guys,hey I can always make shoes and crap in China right?At least they might have a single payer health care system? Oh wait it's wait intell you die then your cured.

[zekest]

Maybe I will move to China since China will own the USA. At least I own my 215 hp jet ski. I paid for it last spring. I like it alot. I went 70mph on it in the water in early November. Its too cold now so I had it winterized. So come April I will ride again! It and I will slumber for 4 months. Yet I will go to Iowa for Christmas. At least gas is cheap. Yet the Chinese will own our gas and raise the price. I better buy my gas now.

[danger0usknowledge]

10 trillion? Total debts & entitlements

for the US come to 100 TRILLION. This is

what happens when you start 2 wars &

reduce taxes. The Durst R/E family?

The Times Sq. area would still be a

porn ghetto if these guys had their way.

Porn theaters filled with crackheads.

They didn't want any office bldgings to compete with theirs so they lawyered up

*to protect da character of the neighborhood.* I think one of their

own family members Robert Durst was down there licking the used pipe stems.

[waddleduckie1]

America is going bankrupt under Bush! John McCain is going to make a bad problem worse under his leadership. Without a significant idea or an ability to problem solve, John McCain will become desperate enough to try to find a solution, but without much luck.

[swani24]

And thanks to Obama our debt is now TRIPLED!!! Although who knows if Mccain would have helped, he probably would have screwed us up just as much.

[vikingscool]

Who our country owes to?

[BI30]

The great majority of the debt, some $750Billion, is owed to China. Next is Japan and then American investors that have purchased Treasury Bonds, followed by various smaller countries, including Saudi Arabia.

[vikingscool]

Uh-oh?! I am [bleep]ing worried about

China would take over on our country?

Aaah!

[BI30]

"Taking over our country"? Are you really THAT *bleeping* clueless? This has nothing to do with China.

[BI30]

Worldwide.

[HabeusCorpus1]

2 more months,it is $9.948 trillion as i write this.

[sankibez]

And two years later its already 9. 700 (the first digit stands for trillion) Two more months to hit 10

[sunnygirl213]

What national debt? America dosn't have a national government.

The United States is FEDERAL; the US is the commercial corporation hired by the States to perform 18 functions; the jurisdiction of the US is 10 miles square.

[FreakAlert2008]

And, from what I researched, the Vatican owns, through the City of London, the US government corporation

[procommenter]

Congress controls the spending.

The president does not make laws.

[BI30]

As we know from Senator McCain, spending via "earmarks" were out of control under a compliant Republican Congress that gave GWB everything he wanted and more.

[procommenter]

The majority of congressmen have

violated their oath of office.

[mariasman100]

National debt is about 60 trillion according to generally accepted accounting principles (GAAP).

[fordcoolcarr]

At least its not a ZILLION

[dennispat]

US should follow Canada taxing the People to Death!!!! well said

[BI30]

Canada is hardly "taxing people to death".

American citizens pay thousands in "hidden taxes" that Canadians don't pay. Where you can spend thousands every year for health insurance, Canadians pay for National Healthcare with a modest increase in taxes. The true cost of a gallon of gas, when you factor in tax dollars spent on war in the Middle East, is actually costing you closer to $10/gallon. Guess who's REALLY being "taxed to death"?

[mariasman100]

This is true, but please don't defend socialized medicine. After all, your argument that the actual cost of gasoline is far higher than what we see at the pump applies equally to the rising cost of health care. The federal gov't has been intervening into the medical industry on a massive scale for the last 30 years. Virtually all of the rising costs in health care today has been caused by this gov't intervention.

[BI30]

"Single Payer" health care is not "Socialized Medicine" as the Right would have you believe. Hospitals are privately owned in most countries with National Health care. High costs are not due to "government intervention",but rather a lack of it. If the reverse were true, all these other countries with National systems would have costs as high as ours or higher. They don't.

[mariasman100]

Nonsense. The "costs" to which you refer in these other countries with "National systems" does not consider the shortages that have been induced. There will certainly be lower costs when the provision of services is curtailed. The bottom line is that we have no knowledge of what the most efficient system can be if not provided the freedom to discover it. Only gov't through legislation can hobble this process of discovery... all in name of the 'greater good', of course.

[BI30]

Not the place for such a debate, but you are arguing these places don't offer as many services. That's patently untrue. You are making the claim with no proof. Might I recommend the movie SiCKO?

[mariasman100]

I contend that "single payer" health care necessarily rations services. I contend also that health care costs in the U.S. have risen dramatically by gov't intervention. Medicare, medicaid, HMO act of 1973, AMA lobbying since 1920's, licensure restrictions, FDA regulations, etc... all have raised costs. People too often look to gov't to solve problems. The proposed solutions often only exascerbate the problem, which leads to louder cries for more intervention, ad infinitum.

[BI30]

Even if the janitor has "overt" loyalty, say an "I (heart) Bush" tattoo across his forehead, he has no affect on policy. Seems mean to fire him just because he's not bright.

And here is the problem with taking "the best ideas from each Party": consider Healthcare, D: "Single Payer". R: Deregulate insurance. Tell me the middle ground? Environment: D: Global warming is a clear & present danger. R: no imminent threat. Guns, God & gays. Where's the "middle ground"? Nice philosophy, but unrealistic.

[BI30]

Two questions:

1) Why fire the people that wash the floors or deliver the mail?

2) "Minimal government" is Libertarianism. For a taste of what a country would be like if you privatized almost every function, look no further than the mess in Iraq.

[JACK23352335]

Bush has gone this presidency alone so he is to blame, he had his republican congress for 6 years, so dont blame congress, dems suck now, have nnot done shit since 2006 so they are worthless.

But, the national debt has gone from 4 to 10-11 trillion during bush, he has done the most damage, at least clinton was worried and left 250 billion surplus for georgie.

The 60s, comeon, the debt was very managable even at 1990, we could only wish for 60s style debts...

[dtebh]

I am amazed at the number of people who blame BUSH for this problem. Does anyone really believe that when BUSH leaves office, things will improve? This problem will grow at an accelerated rate, regardless of who the new president is. The problem began MANY administrations ago in the 1960's and the general public is too un-informed and under-educated to understand the problem. CONGRESS creates the budget and spends the money, not the president.

[BI30]

Three Presidents are responsible for 9 of the ten Trillion dollar debt we have today: Reagan (3T), Bush Sr (1T), and Bush Jr (5T). Congress didn't change between Reagan and Bush 41, nor did it change between Clinton and Bush-43. In the 1960's up to Reagan, the majority of the debt was owed to American investors (T-bills, War bonds, etc). Reagan borrowed heavily from foreign countries. Bush-43 has done so at a far worse rate. It was a Republican controlled Congress that helped all 3 do it.

[dtebh]

So, you bashed republicans. How productive. Now, how about the problem, and my question? "Does anyone really believe that when BUSH leaves office, things will improve?" Let me add, we now have a democratic controlled congress for ovber a year now, and what has changed - other than an acceleration of the problem?

[BI30]

Citing facts = "bashing Republicans". Got it.

Thanks to the new Filibuster rule in the Senate where all you have to do is call for a "filibuster" then walk out, ensuring no bill passes without 60 votes, this prevents Democrats from passing anything constructive, giving the minority Party (Republicans) de facto control of the Senate. Bush still controls the White House, giving Republicans control of 2/3rds of any legislation that actually becomes law. Yes, Bush leaving will improve this greatly.

[JACK23352335]

dtebh, president bush, the current one, when he took office clinton had left him a 250 billion buget surplus, and was it greenspan that said we need to spend that and more so we dont ever pay down the national debt.

Was the national bebt at 4 trillion when bush took office, if it is 10 trillion when he leaves I would say the most damage was caused during his terms and republican controlled congress.

Also, I mostly do blame bush for he says the buck stops/starts with him..

[JACK23352335]

Are you saying Bush has not gone his own way , he does what he wants, thenational debt has gone from 4 to 10 trillion, I would say he has caused the worst damage in 7-8 yrs.

The 60s, we could only dream that we had those defecits...

Bush has gone this alone, this is on him, if he wanted to help, he would have done so, but he has to many buddies in oil/ war, companies that love war Haliburton telling him what to do.

At least clinton left 250 billion surplus and tried to pay the debt.

[thetwentyfourth]

An enormous chunk of the debt is owed to the federal reserve. This would seem absurd to most people, who think "the government creates the money", but it is in fact privately controlled, and money is 'loaned' to the government at interest. Through this debt, a small 'elite' group hold the country under it's thumb. Disgusting, is it not?

[politca1000]

This is why the US dollar is worth no more than the paper and ink it is printed on.

[Topjet9]

Most people think its overblown. I don't. Until people feel, see, and are impacted by the damage, we'll keep spending like drunken sailors. What is the point of fixing the problem when the next lying politician will make promises to mortgage our children's future (ahem), I mean new programs. Hey why should you baby-boomers care? Its your grandchildren and our children that will pay for your "plastic" spending ways!!!

[andli843]

come on people... you can't just throw a number out randomly and expect people to gasp just because it's a big number... it has to have base. you have to compare national debt to GDP... if you do that our debt has been quite a bit higher. go check this chart.

zfacts[dot]com/p/318.html

[BI30]

This is too complicated a subject to answer in 500 characters, but you can't compare "dollar-for-dollar" the debts of different eras. Under Truman, when they claim the debt was highest, nearly the entire debt was owed back to America, borrowed from "War Bonds". So even if the country paid out interest, it was to Americans who profited. Today, we pay out the equivalent of TWO IRAQ WARS EVERY YEAR... FOREVER to China & Japan, not a cent of which profits Americans.

[andli843]

This is way too complicated for 500 characters, and you are correct in what you state. But who's fault is it that we owe China and Japan? It's everyone's fault. We fail to invest our money in the U.S. economy and instead invest in China. Our government has high corporate tax rates at this point that discourages growth. Whether individual Americans profit from our debt or whether China profits is trivial. What matters is the actual debt and our current level of growth and GDP. Which surpasses all

[BI30]

"Whose fault?" That would be the government that needs billions to pay for tax cuts we can't afford and to pay for a protracted war without end. How is that "everyone's fault"?

[jrb337]

The money is leaving america not because of the Citzens but because of the destruction of the trade tariffs that had helped to protect this country's economy and keep the money at home.

[EXPL721]

$10 Trillion Debt.

In his private life George W. Bush mismanaged and caused the bankruptcy of several businesses before he came to office. So he already had a track record of incompetence. His Dad bailed him out then. Who will bail him (and us) out now. China?

[PandoraLeigh]

i see who stephen colbert emulates now.

[lividmany]

"The safest cover for a nation's currency is work." -ADOLPH HITLER

[MelanieTirone]

Are you anplying that Americans don't work hard enough? Who are you to say that? Why ain't you working right now to contribute to your national currency instead of hanging on the internet. Do you think Hitler was that clever? The best cover is SAVING!

[1happiness]

The USA have GDP of more than US$13 Trillion however exact figure of national debt is US$9.174 Trillion = US$9,174,000,000,000 pushing US$10,000,000,000,000/US$10 Trillion!!Ahhh!!

[SGDeGalvez]

Havnt you heard. iTs the 'tax and spend' dems fault. They are in control now.

[BI30]

In the off chance you aren't joking, check the date on the video. :)

[poweraidrocks1]

dam bush he cut taxes on the really rich people we need a president to make there taxes doubled then the debt will be around 5 trillion again within 200 years or less depending how much taxes go on to them every person should be middle class after that

[tshaifley]

In the off chance you aren't jokin! Every tax cut will be a tax cut for the rich. They pay most of the taxes. In fact, the top 1/2 of the American populous in income levers pays 97% of the total tax burden to the federal govt.

[BI30]

Actually, that's not true. With tax shelters, loopholes, credits, subsidies and tax breaks, the average tax rate on the top 2% averages around 18% whereas the typical working-class family pays a tax rate between 28%-34%.

[politca1000]

America should be collecting high taxes like the rest of the first world. America should follow Europe and Canada's example of taxing people to death. No unfair breaks. It should cut health care as well. Looking at the German economy before WW1, it gave people health care on the condition that the people worked their asses off. Americans don't deserve it. Most American people don't benefit the economy.

[jsullivan80]

actually your country is starting to come around . Aren't your tax rates falling?

[themaskcabana]

You know what my question is? How is it, if an American mismanages their money to the IRS/Government, the penalty is jail time, but if the Government mismanages our money nothing really happens? We're nine trillion dollars in debt, is not exactly like we're talking about a pair of car keys. Somebody needs to be held accountable!

[toiletavenger]

yea lets spend a bunch more money on a useless fuckiing clock!!!

[BI30]

Relax. The clock is privately owned.

[toiletavenger]

yea thats true, too bad the federal reserve is private too...

[BI30]

Actually, the fact the Fed is "privately owned" is misleading. You DON'T want the Fed in government hands. It was deliberately created to be separate from government to keep Congress from having control over the flow of money and manipulating interest rates for political gain. The Fed doesn't sell stock or beholden to shareholders like a normal corporation. The fact they are not part of the government is a GOOD thing, not a controversy.

[toiletavenger]

see i can say the same thing about the chairmen on on the federal reserve..that they could use thier position for political gain, we dont know whats in the best interest of the people in charge of the money supply and rates...its obviously not to help the nation debt since we borrow money from them at interest even thought congress can issue the same fiat money free of interest

[19770326]

Reagan's biggest regret was during his presidency america went from biggest creditor to world's largest debtor nation.

[VictorLaszloLives]

Deficit spending is a tax on the future. It's interesting that the national debt ballooned out of control during the Reagan-Bush Senior years, declined under Clinton, and now it's ballooning again under G.W. Bush. What happened to the financial responsibility of the Republicans that it now takes Democrats to bring the debt under control? The next time a Republican says "no new taxes", ask them about the national debt. Our children will be paying for decades.

[toolwerkz]

You are soooo right. I love how the Repubs always say how they are "Fiscally Conservative" and have no clue to stop reckless spending. In fact only Eisenhower and Nixon were Fiscally Conserative. They also don't understand that Tax dollars from future Americans will be paying for their reckless out of control spending for Centuries to come. Thank you Republicans for Bankrupting America!!

[t0nt01982]

the Congressional Budget Office" expects the 2007 deficit to total $158 billion--a $90 billion decline from the deficit recorded for 2006. Nevertheless, the budget outlook for the long term remains daunting, primarily because of rising costs for health care."

[t0nt01982]

obviously noone does research on where our deficit is at. it has already aired in the media that our deficit is at its lowest in 4 years. its down to where it was in 2001.

[BI30]

The year before, it was ZERO. But who's counting?

[t0nt01982]

Zero. mmhmm

[Capnwabbit]

The deficit is the yearly accounts, not the total debt. If the deficit were zero you'd still have the debt, while the deficit just shows how much further into debt you're getting.

[emmadddk]

is it really that bad?? so what if the US government were to go bankrupt and can the government really go bankrupt??

[BI30]

Yes, it is REALLY that bad. Actually, it's *worse*. Imagine the ripple effect if we default on a 9 TRILLION DOLLAR loan? And "can a country really go bankrupt?" Ask the Germans after WWII, when the Deutschmark became worth less than toilet paper.

[emmadddk]

so you are referring to hyper-inflation as the possible outcome. oh guys, the chinese and japs are friendly ppl okay, be nice to them and invite them over for lunch or dinner sometime...:D

[Capnwabbit]

"Hey, come over for lunch, you're paying" aint gonna work.

[avitech77]

Is anybody else worried about this? Are U.S. citizens secured?

[BI30]

I wouldn't have posted it if I weren't concerned. :)

[neothomist1275]

Type "Howdy Doody Looking Nimrod" into your YouTube search window to hear a great anti-deficit rant from Rep. Berry of Arkansas.

[amurrica]

Where are all of the republicans who during the Clinton years were saying that we needed a constitutional amendment to prevent "free-spending liberals" from bankrupting our country? Bush is not a fiscal conservative-- he's a dangerous, money-wasting radical. And because of him, our country is now less financially autonomous and free than ever.

[cngo2000]

We have a president that has a problem with the english language, how can we expect him to keep up with his numbers ? What a corrupted administration !

[zell4057]

congrats bush. way to spend the dough.

[raybloke]

It isnt sustainable, thats for sure.

[AnunC8]

It's crazy. Anyone who watches C-Span every now and then knows that the US Government nearly filed for bankruptcy a few months ago... it's pretty scary.