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$5 trillion added to national debt under Bush?
Is Obama going to out do Bush before leaving office?
6 Answers
- DracoLv 71 decade agoFavorite Answer
Politifact.com, lost ALL credibility over a year ago and the St.Pete Times, has been nothing less than a left, Liberal agenda machine for about 12 years now.
However, reading Emmanuel's "creative mathematics scenario only brings to mind the dozens of times he stepped out with White House "estimates" that were debunked. Your news source and the subject of the information, are certainly lacking in integrity and balanced reporting.
Answer: Depending again on the "creative mathematics" one wants to apply, Obama has already created more debt than Bush in 8 years and he still has 2 years to go.
- gregory_dittmanLv 71 decade ago
Yes in two ways.
The first is Bush made no long lasting programs. Homeland Security is made up of a whole bunch of departments that existed before Bush took office. Obama wanted to keep up the fight in Afghanistan and he said that many times so that is no longer Bush's war. The draw down time happened under Bush so although there is still troops in Iraq, they are no longer combatants. Obama has his healthcare program which is projected to cost $200 billion a year for the first 10 years on average and 9% compounded after that. That alone will beat Bush's deficit within 31 years.
Second, the projected deficit by the CBO is $9.75 trillion over the next decade, but that doesn't factor in major disasters or new wars. That will push the deficit to debt to GNP ratio from 40% in 2008 to 90% in 2020. Another source says the deficit will be $9.3 trillion from 2010 to 2019. Most of that is going to be Medicare and Social Security. It's projected that in 2015 $2 trillion will be spent on Social Security and Medicare. That's a lot more expensive than two wars lasting 10 years costing $1 trillion so the liberals have nothing to whine about there.
- VinceLv 71 decade ago
It depends on how much it costs to fix the damage Bush did. The Republicans didn't help by insisting upon a tax cut for the wealthiest of us before they would permit an extension in Unemployment Benefits. Republicans say they want to balance the budget. But they don't really mean it. If Republicans were serious about balancing the budget, they'd start by cutting defense spending in half. We spend more on our military than every other country in the world combined. But we think they're still out to get us. Sounds a bit like paranoia if you ask me.
- vaibhavLv 44 years ago
•President Bush bigger the federal finances via a historic $seven hundred billion by way of 2008. President Obama could upload yet another $a million trillion. •President Bush began a string of costly financial bailouts. President Obama is accelerating that direction. •President Bush created a Medicare drug entitlement which will fee an envisioned $800 billion in its first decade. President Obama has proposed a $634 billion down fee on a sparkling government well-being care fund. •President Bush bigger federal practise spending fifty 8 % quicker than inflation. President Obama could double it. •President Bush grew to develop into the 1st President to spend 3 % of GDP on federal antipoverty classes. President Obama has already increased this spending via 20 %. •President Bush tilted the earnings tax burden greater in direction of bigger-earnings taxpayers. President Obama could proceed that style. •President Bush presided over a $2.5 trillion boost interior the generic public debt by way of 2008. putting aside 2009 (for which Presidents Bush and Obama share accountability for one greater $2.6 trillion in public debt), President Obama’s finances could upload $4.9 trillion in public debt from the beginning up of 2010 by way of 2016. President Bush took workplace in January 2001, and consequently performed a lead place in crafting the FY 2002-2008 budgets. Presidents Bush and Obama share accountability for the FY 2009 finances deficit that overlaps their administrations, in the previous President Obama assumes finished budgetary accountability beginning up in FY 2010. universal, President Obama’s finances could upload two times as lots debt as President Bush over an identical kind of years. Whoa, the place did that come from. I ought to get my tourette's under administration. too lots fact isn't stable for the Dems, we can't cope with the certainty. Yikes, that's getting embarrassing!!!
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- Anonymous1 decade ago
Probably, but isn't this an activity expected from a Democrat? Do you expect such things from a Republican?
At least when you vote democrat you know what you're getting yourself into.