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Originally Posted by Riot
?? Nobody is debating the size of the national debt by year. I agree the debt is as big as that long red line right now.
The subject is where did the debt in that long red line come from, Dell? Not what the debt will be in the future. Read your own article - it's nearly all from Bush!
The fact remains Obama hasn't put us into this horrid debt - Bush did. Obama, however has to get us out.
In that last sentence, Bush increased by 2.5 trillion, and the 2.6 trillion in 2009 is just a continuation of that.
Edit: and where the guy above says, "continues" - Obama doesn't have much choice regarding continuing programs that are law. We'll have to see what he does do in the future before we hold him responsible for the imaginary that hasn't yet occurred.
The anticipated budget for this year has already fallen 2%, many less TARP funds have been used than anticipated and budgeted for, a few billion in TARP funds are already being paid back. Obama has already given us a tax cut immediately after he took office.
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We read the same article and come to opposite conclusions.
President Bush expanded the federal budget by a historic $700 billion through 2008.
President Obama would add another $1 trillion.
President Bush began a string of expensive financial bailouts.
President Obama is accelerating that course.
President Bush created a Medicare drug entitlement that will cost an estimated $800 billion in its first decade.
President Obama has proposed a $634 billion down payment on a new government health care fund. (that's one year not a decade)
President Bush increased federal education spending 58 percent faster than inflation.
President Obama would double it.
President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs.
President Obama has already increased this spending by 20 percent.
President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt),
President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.
I just believe and always will that going further into debt as either an individual or nation is NOT and never will be the answer. Unless you have a terminal illness.
