Talk of The Villages Florida - View Single Post - Global Warming Deniers- On the rise
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Old 07-02-2009, 01:34 PM
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You've conveniently turned the environmental discussion off topic, but I note - on the day President Bush took office, the National Debt stood at $5.7 trillion dollars. By 2007 the debt clocked in at a staggering $8.8 trillion – an increase of $3.1 trillion dollars since January 20, 2001. And that amounted to a jump of 54% during Mr. Bush's watch. The National Debt went up more on his watch than under any other president.

That means it took the Federal Government 225 years to accrue $5.5 trillion in debt under 42 U.S. presidents. But under President Bush alone, it soared another 35.2%.

It hardly gives the Republicans bragging rights about fiscal discipline.

And anyone who reads a newspaper will realize that Obama inherited a terrible mess: a $1.3 trillion deficit, two wars, rising unemployment and unprecedented crisis in our banking system. Based on the advice of the leading economic gurus he's implemented a plan to jumpstart the economy, and fight the housing crisis and reform the financial regulatory system. You may not agree with his plan, but I suspect you're not an economist, nor am I. I personally don't like the idea of more debt, but given the circumstances and depression era type economic problems that exist now, I think he had no choice. And that's what his economic advisors are telling him as well.