(CBS News) The National Debt has now increased more during President Obama's three years and two months in office than it did during 8 years of the George W. Bush presidency.
The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.
The latest posting from the Bureau of Public Debt at the Treasury Department shows the National Debt now stands at $15.566 trillion. It was $10.626 trillion on President Bush's last day in office, which coincided with President Obama's first day.
The National Debt also now exceeds 100% of the nation's Gross Domestic Product, the total value of goods and services.
Mr. Obama has been quick to blame his predecessor for the soaring Debt, saying Mr. Bush paid for two wars and a Medicare prescription drug program with borrowed funds.
If Mr. Obama wins re-election, and his budget projections prove accurate, the National Debt will top $20 trillion in 2016, the final year of his second term. That would mean the Debt increased by 87 percent, or $9.34 trillion, during his two terms.
When Obama is reelected in November, he will continue to repair the damage to our economy from the 'Bush Economic Meltdown.' If successful, Obama will manage to get the country back to where it was when GWB took office. The Debt caused by two wars while giving the rich the largest tax cut in history (redistribution of wealth) will take much longer to solve.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
When Obama is reelected in November, he will continue to repair the damage to our economy from the 'Bush Economic Meltdown.' If successful, Obama will manage to get the country back to where it was when GWB took office. The Debt caused by two wars while giving the rich the largest tax cut in history (redistribution of wealth) will take much longer to solve.
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"Approval ratings go up and down for various reasons... An example is the high post 911 support for GWB even though he could be said to be responsible for the event." --- Box A Rox '9/11 Truther'
Melania is a bimbo... she is there to look at, not to listen to. --- Box A Rox and his 'War on Women'
Like it or not Buck... You're going to have to put up with Obama for another 4 1/2 years and you know it!
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Great story, it proves that both the Republicans and Democrats do a bad job. Under Obama things will remain the same, and if you think anything will be different under Romney or Santorum, than your also a moron....
I think American's are at the end of the 'tolerance' rhetoric overdone in our culture......so 'tolerating' a president (regardless of party) agitates the plebs.....
have American's become sloths? coming down from their tree every 4 years to crap?
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
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