Originally Posted by 8notes

Debt is not a stand alone number. You have to look at it in relation to GDP i.e. the size of the economy, and whether there were major catastrophes, recession, war, etc. Two companies could each have debt of $100. If one country earns $1 million, the debt of $100 is nothing. If the other country earns $200, the $100 debt is a big deal. The President does not have control over all the debt. For example, Obama inherited war costs from Bush that went on for years. And an obstructionist republican congress didn't help either. Obama wanted to raise taxes on the wealthy which Congress wouldn't enact, which would have reduced the deficit. Nor did a recession help, the biggest one since the great Depression. That was huge - the recession caused a massive decline in government revenues, and that started a year before Obama took office. And of course, the recession caused extra expenditures such as unemployment insurance. And comparing debt from 240 years ago is not comparing apples with oranges, due to inflation. Lastly, had there not been a burst of spending under Bush, the budget surplus would have been available to help out during the recession. Instead, Bush used it to pay for the unpopular war. Remember "weapons of mass destruction"?