Bush Has Doubled National Debt with Deficits

[NikovK]

Ah, the good old days.

[born912]

Hahahahahahahahahahahahahahaha­hahahhaa.THE NEXT ROMAN EMPIRE

[puttputtking]

Actually Obama has spent more money than any president ever since Reagan. If he was so serious about lowering the debt he wouldn't have let the current Congress spending our tax dollars on stuff we don't need.

[highnote606]

"Americans actually spend more than they earn"

This is due to a corporate led culture that traps the consumer into a credit trap with rich advertisments of material incentives for buying now and paying later. It means that our own leaders have put more worth on money than anything else. But the dollar has become almost worthless. The people ALWAYS pay for it. That is why the people need to storm the big companies and burn them down.

[Americanswakeup2]

The SupplySider's Hoax: Bush-I called it voodoo economics. Their "theory" is that cutting taxes for the super rich will encourage them to work so much harder and make so much more money that they will pay more taxes, even though their tax rate went down. Well the voodoo didn't work in 20 out of 20 years.

[Americanswakeup2]

Bush II (and his supplysiders) would have run up only $3.8 Trillion, not $6.1T, which is what happened under Bush II. Before the supplysiders, Dems and GOPs brought the debt down relative to our income in 27 out of 35 years. The supplysiders (with Reagan and the Bushes) raised it 20 out of 20 years.

[Americanswakeup2]

Reagan increased the debt by $1.9Trillion.Then Bush brought it to $3.4T. Then all collected interest for the next 17 yrs, and with compounding grew to $8.2T by Sept.'10. Clinton, Bush II and Obama are not to blame for that interest, and without it, Clinton would have paid off most of the debt.

[FreedomInAmerica]

Clinton didn't leave a $5.6 Trillion 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. The Debt Clock should be adjusted increasing the national debt from $14.0 to $21 Trillion and reducing our unfunded liabilities by $7 Trillion to reflect the truth about Clinton.

.

Allen West 2012

[craigenputtock]

Don't believe any of the hype about deficits and the country going broke. It's all hogwash and mind games. If all that were true, do you think the government would be allowing millions and millions of poor illegal and legal immigrants every year????? Common sense, people! there's plenty of money to go around!

[sadokill]

apparently katiatomsk, they're too busy thinking about how great a speaker Obama is to realize how much of a liar and wasteful spender he is...

[THEADVENTUREJUNKIE]

AND your too friggin LAZY to go check out the facts for yourself!The republickins are CROOKED AS CAN BE! They are for FASCISM. OH AND Fascism IS WHERE THE LEADERS OF INDUSTRY BUY/HOLD the highest places in power, and influence/make all policies for the good of industry, and screw the people. It is not Socialism, or Communism, or Marxism!!Just thought I would point that out since most of you throw those words around as if you new WTF they meant. But obviously most of you are talking out your ass.

[LinkinPark640]

Obama's not a wasteful spender,you know,so I guess you must be a republican and you might think that to have health insurance,people must WORK !!the problem is that health is VITAL to wake up every morning and go to work as I do :) here in France,the public structure and private companies coexists very well :)

[THEADVENTUREJUNKIE]

France has a healthcare system that America should copy/steal.I wish you would say some more about how foolish the rest of the world thinks this jackass debate is here in USA.How ignorant and arogant SOME of my foolish fellow americans are!WE NEED HEALTHCARE AND ACTUALLY=THIS IS NOT ENOUGH REFORM! WE NEED A PUBLIC OPTION! How stupid it seems that any1 would even debate the issue but evry1s minds are so polluted from all the $125 million the HMOs have spent on thier campaign of MISINFORMATION.

[LinkinPark640]

France's healthcare system is far from being perfect,for example there are a lot of fraud,every year the budget crosses the red line of deficit,the true problem is how the billions generated by the several taxes are managed by the spending-on-crap-governements

[THEADVENTUREJUNKIE]

@LinkinPark640 Yea .That may be so. But No1 really handles the price perfectly. Frances system still kicks our American asses. Matter of fact every1s healthcare system kicks our asses. Yes I have heard that Sweden has may be the best. I have also seen Norway, France, and the Netherlands @ #1 SPOT. Depends whose doing the report or study. But yes I agree U may be right. I think they all are pretty close.

[katiatomsk]

What are you liberals feeling about Obama raising the national debt faster that Bush?

It seems to me that since a liberal is in the White House, debt is not a concern to you-all now. So, this concern about debt was really a hatred towards a policy, not debt.

Wait until National Health care comes in. First going to a doctor will look like going to the DMV and you won't get the help you need anyway. BUT, it will cost you more in debt than you ever thought possible.

[THEADVENTUREJUNKIE]

Bud, get your facts/numbers straight! Obama hasn't even come close to what Bush spent, wasted, lost, ripped off, and borrowed! In your and my name. You fkn retard. Debt not a concern? It has always been a concern for my side of the aisle, wich is ALOT more than I can say for your stupid kind! Put the blinders back on, you wore for the 8 years of GWB and his spending us to hell! Atleast then Obama can clean up your fukn mess again just like Clinton Cleaned up after B1, Reagan, and Iran Contra.

[kurtissandwich]

@THEADVENTUREJUNKIE Dont tell katiatomsk to get his facts straight get yours straight democrats pushing banks to give loans to people who can't pay them off in the first place jump started the deterioration of the economy. In 8 years bush kept an average of a $500 billion deficit while in a war, and giving tax cuts. Obama added $787 billion to the deficit with his stimulus package IN A YEAR which will only cause inflation. Bush was the opposite his tax cuts lowers the deficit over time.

[Aparicio1990]

bush fucked us up

[xaviqaz]

As you know, pro-free market people love deficits and doubling national debt in 8 years xDDD Is a joke

[dtebh]

AmericansWakeUp. As I said before, BUSH as bad as he is, is NOT the one who created the budget, allocated or spent the funds. CONGRESS has the complete authority as the the spending. You mentioned Bush's medicare pharma bill - Tell me how exactly is that Bush's bill since it was created in the house, amended, passed by the house, sent to the senate, went to committee, was amended, and passed by the senate ALL BEFORE IT WENT TO BUSH for signing?

[THEADVENTUREJUNKIE]

Because if U did a little research U would find out that MEDICARE PART D was never paid for! Traded for campaign favors, it is horrid policy for all! It was passed by a republickin dongress and a republickin pres., who is known for back room deals and no bid contracts!It ran the $ of medicines up and out of reach to some sick people.Who now have to go to CANADA JUST TO GET A FAIR PRICE FROM AMERICAN PHARMA CO.s! And many other bad things too many to mention here! Both wars were not paid for!

[LinkinPark640]

if I'm correct the best healthcare system in the world is the one from sweden.

[AmericansWakeUp]

That to the extent the US borrows money, to avoid an extended recession or depression and job losses, we will be investing capital and adding assets to our balance sheet. We must be encouraged if Congress and our Treasury invests in projects that (a) create jobs or (b) develops valuable assets and technologies (i.e. energy, roads, hospitals, schools, electric grid, rapid transit, etc.). These are investments in America and our future.

[Twilightifyable]

@AmericansWakeUp

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.

[danger0usknowledge]

With the global derivatives crisis we are being told that a deep recession is at hand. We've been in a recession. We are now trying to buy ourselves out of a global depression. Inflation Holocaust will happen when the money we are printing filters through the economy by 2010-11. You all will blame Obama when employment reaches 8-10% officially & 18% in reality. You will blame Obama even though you don't realize it yet. Talk Radio & Fox will manufacture enough doubt to MAKE YOU BELIEVE IT.

[danger0usknowledge]

2008's deficit it's at least 40% of GDP.

This is what happens when you start 2 wars

& reduce taxes for the rich. Can you

believe the Iraq War is an off budget item?

In 1989 Bush Sr had something called

"The S&L Bailout Crisis" In 2008 Bush Jr

saw & raised his father with "The Global Credit Meltdown". The difference being

that back in 89 taxpayers "only" spent

75 billion just on Texas Savings & Loan institutions. Today it's 750 billion for

THE SOCIALIZATION OF THE RICH MANS DEBTS.

[MrRightAllTime]

we should start thinking about tradings dogs with china, we ship them our dogs and they ship us cars and pcs,

vote yes to shiping dogs to china, they eat dogs you know

[rodneyirani]

We went to war with Iraq after 1)supplying them with weapons for 8 years during the Iran/Iraq war 2) knowing they didnt have weapons of mass destruction

3)We borrow money, alot from China, who is a supporter of Iran. We do good Public Relations by having the Olympics there.

4) Set up our military in Iraq which is across from Iran. We borrow money and threaten not to pay it back unless they back us up. Elect John Mccain to finish what Bush started =TARGET = IRAN. GET IT???

[jedipauly]

The "debt" is an illusion. The U.S. dollar is fiat money backed by nothing. If we owe a debt, and someone calls their debt due, what are they going to be paid with? More worthless dollars printed at will? The world and American people have been scammed into financing debt and exchanging goods for worthless pieces of paper printed at will! You are all fools! The "debt" is just numbers on paper and not real and can be canceled at any time. That is why the value of the dollar is plunging!

[AmericansWakeUp]

You are not taking into account that the debt service on our National Debt is paid as part of our National annual budget, and at one time, when it was at $5 trillion was 20% to 25% of our national budget. Deficits, expenses (that include interest) in excess of income (from taxes) generate inflation, and erode the value of the dollar that you are complaining about. The problem is the national debt, because it consumes a greater % of our national budget, preventing use of funds in other areas.

[randall2020]

The Euro has just surpassed the dollar in value in circulation.

[dtebh]

Bush is not the problem. Granted, he hasn't done as anyone thought, but BUSH is not the one who spends. It's CONGRESS. CONGRESS controls the budget and spending. All BUSH can do is veto. And then the CONGRESS just overrides the veto and the spending starts. BUSH went to CONGRESS to get funding for the war. THERE IS NO ACCOUTABILITY IN CONGRESS FOR SPENDING. See what DAVE WALKER and the GAO videos are all about.

[AmericansWakeUp]

The problem you are not seeing is that Bush's Medicare Pharma bill added in excess of $1 trillion, the war in Iraq that will eventually run $3 trillion (including our exit strategy and fixing our military), among other policy decisions that have over-paid Halliburton and other no-bid contractors, including Bechtel, billions of our tax dollars. What you do not see is that our Treasury has been looted by this administration who has given trillions of our tax dollars to their friends.

[AmericansWakeUp]

To dtebh:

I guess your political bias seven months ago distorted your view of reality, and ability to connect the dots. I wonder what you are thinking about this Bush economy now? Have you been able to figure out that this entire fiasco is a result of Bush's mismanagement of our economy and treasury, or are you still living in Fox newsland.

[dtebh]

My opinion has not changed. If you study the facts, you too will that see the spending problems that got us into the current situation started 50 years ago and accelerated the last 20 years - long before BUSH. Additional spending will not fix this, since it was the problem that caused it all. Who will you blame now since BUSH is out? They are all to blame.

[katiatomsk]

I agree with dtebh: Our economy started going bad years ago, before Bush.

But, like you liberals like to say, "We won so get over it". I wonder when you will get over it. Your liberal man is in control, so QUIT blaming Bush. A real leader knows how to lead, not just point fingers and read teleprompters.

So, when a liberal points a finger at Bush, it show me they don't have faith in their leader, Obama. Enjoy the bottom, that is where Obama is taking us all.

[sjk5000]

that just like saying don't blame jimmy carter for his bad economic downturn in the 70's. So now I can't blame bush for this economic downturn, you must be out of your mine. In my eye's both parties are the blame.

[THEADVENTUREJUNKIE]

Your comment(s) about healthcare reform, are as misinformed and stupid as it gets! go factcheck moron. Here is just a start=There are 6 ways to pay for 1/2 reform. So any 2 ways together will pay for it and make it budget/debt/deficit NEGATIVE! Everything Obama said in his speech was right fucking on point. Go ahead see if you can disproove anything he said. I already was up on issue and recognized all he said was true! EXACTLY! Even I was suprised there was no lies AT ALL!! U SHOULD SUPPORT!!

[MRLOWERCASE]

@dtebh Bush vetoed only 12 bills and he did so hardly for the fiscal implications. A third of his vetoes were stem cell research and CHIP-funding related.

[dtebh]

@MRLOWERCASE As I stated earlier, Congress is where the spending happens. Granted, BUSH DID NOT VETO SPENDING LEGISLATION, BUT MOST OF THAT WAS POINTLESS SINCE THE CONGRESS HAD THE VOTES TO OVERRIDE every single spending bill that was put before him. I'm not defending BUSH, I'm saying it is a distraction to say he was the problem. The equivalent is like saying OBAMA is the problem. It's still the congress, but now there is no way to stop the train.

[AsianAmerican68]

All three Presidential Hopefuls should HAVE TO watch this as a condition of being allowed to continue running for US PRESIDENT!!

[politca1000]

Suggestions to cut American spending:

1. Stop starting wars and making enemies for imperialist reasons.

2. Set a high standard sales tax(put up something like a 10%-20%) for the whole country to discourage spending.

3. Tell people to pay for their own health care if not raising taxes. This encourages high savings.

4. Stop importing more than you export. Stops deficits creation.

5. Devalue the US dollar; it currently is worth no more than the paper+ink it is printed on.

[mercedescl]

Wow, you are a genus in killing the economy and destroying the world. You must be Karl Maxx or Goldfinger.

[mactos678]

I have some solutions as well:

1)sell off our new multibillion dollar embassy in Iraq to the Iraqi "goverment".

2)BRING OUR TROOPS HOME FROM EVERY FORIEGN COUNTRY!

3)Defend our borders so that labor costs don't keep getting cheaper for corporations.

4)give tax cuts and social security benifits to people who qualify as Middle Class and lower.

5)NO MORE NAFTA

6)CLEAN ENERGY adjustment which would provide jobs.

7)Every American storeshould have an "American Made" Isle in their store. -ILA

[HalcyonRain321]

1. Outlaw corporate lobbyists and campaign contributions.

2. Stop Corporate welfare in the form of subsidies.

3. Stop the export of jobs and services to places like China and India. If an American corporation insists on outsourcing to other countries, properly tariff their import back into our country.

4. If an entity wishes to hide individual wealth and corporate profits offshore-- avoiding appropriate taxation-- take away rights and citizenship.

[Rolomax]

This is kind of old. The debt is up past 9.2 Trillion now.

Politicians borrow money and give it to their contributors and themselves.  The debt is left to the public, which they clearly don't care about.

[JumboBag1]

I have a plans to fix your Economy!!!!!!

1) pull your troops home !

2) ceased funding to all CIA agents (liars )

3) cut all your social security payments

4) cut politicians wages & salary by 50%

5) send those lazy young people to work in the army and use these little morons to clean up the disaters areas.

american!!!!!!

wake up & get those wankers in the white House to get out quick and lock them all up in Quantanamo Bay!!!!! and release those innocent inmates.

[1happiness]

The US have GDP of more than US$13 Trillion but the national debt of 2007 is US$9.174 Trillion = US$9,174,000,000,000 (Numerical)

[Beowulf1690]

First off by no mean am I saying that the national debt is a good thing. But I feel like I should tell people that about 60-70% of the debt is owed to the people of the United States. So if we pay it back, essentially, we pay ourselves back. So we kinda only owe 3-4 trillion to other nations. These are rounded numbers by the way. Assuming the debt is 10 trillion. By no means am I saying this is a good thing, it's just food for thought.

[SkipW]

Leave no Child Behind, is just code for

Leave No Child a DIME!

[OghamTheBold]

Debt so high can't afford to fix the bulbs in the debt sign

[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!

[rckbttm14]

isn't blackstone a new equity firm that was established recently to collect more land and property from americans?

[swamimans]

seems like global capitalism benefits mostly whites. tell me when u see kids on garbage heeps are they whites-nope.

[sdczen]

The entitlement, welfare system is set up to keep whomever that uses it down and tied to it. It spans race, creed and political affiliation. What you think you know and what you've always done, is not acceptable anymore. Everyone must take charge of their own future, if able.

[Krankenhausmannschaf]

come on man, this is not a racial issue. lets not make one, because then it will get really bad.

[DangerousCombination]

Watch "Money as debt" and you'll see this from a new perspective.

[flyhye]

exactly, i've seen that and it all makes sense

[Frozenstars]

The Generations after the Baby Boomer have been betrayed...

[thematrixexpert]

google december 21st 2012, drama is unfolding, and the authorities know

economical, political and military chaos has been perpetrated by design, to cause as much confusion as possible

[JUKIO01]

i watched this one show the other day it was "the lost book of notrodamus" i was watching it and they said something about 2012. it was werid, because the other day, i had a dream about the year 2012! honestly, no joke. so it really got me thinking. and believe me, im not one that believes in prophecies, but this is some scary shit.

[thematrixexpert]

also, not saying stan lee is a prophet, but in some spookily successful series like the 4400 and heroes, certain themes are uphold in line with what the NWO would call "the 2012 dna enhancements attacks". currently the market artifice is dictated by the law of the jungle; it will be dismantled by 2013, ironically 100 years after 1913, whadd'ya know?

[hypervexbliss]

In ten years, we WILL be screwed. I am so moving to Europe.

[softearth]

LOL, think again, more like 10 weeks!

[Gildas9]

Good idea to move to Europe, just choose carefully. My home country the UK is worse than the USA, don't go there. OTOH Scandinavia and especially our own Anglo-Saxon homeland Germany, are in generally good shape. Even France is better. I would advise, learn German (very easy, very similar to English) or French if you're inclined, move to Germany/Austria or France/Belgium. Better options there.

[JUKIO01]

i dont think other countries are going to allow americans to come to there country. so, im thinking of traveling to the cook islands and just chill there while everything blows off. anyone want to join me, you can!

[nemasen]

Learn Chinese

[JUKIO01]

china is definately going to benefit if the dollar looses its value, other asian countries to like japan.

[chuchu30]

My husband lost his job of 11 years (technology field) due to our country giving breaks to corporations who send American jobs to third world countries. That is an oxymoron.

[neothomist1275]

And when he was at that tech job, his taxes were paying for shipping American industry to China as stated in GATT. The big boys don't play fair, do they? The most murderous regime in history is being called, by the UN, "the model nation" for the rest of the world to imitate.

China just recently stopped buying the $2 billion/day of US paper. Get ready for a dollar collapse.

[Gildas9]

Same problem in UK, just like in USA, the corporations get tax breaks and favours to outsource scarce tech jobs to "replacements" in India, USA also has the H-1 visa to even deluge US workers with cheap Indian replacements here. Why would any Brit or American, work so hard and take on debt to get a degree in engineering or science, if we'll still be jobless and broke when a cheap-labour replacement from Bangalore takes the job?

[swamimans]

well thats the global market. why would a company more when they can get the same quality for less. but more education definately helps thats what i am trying to do.