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  • gregjanetommax gregjanetommax Sep 3, 2012 12:34 PM Flag

    The Truth About Who's Responsible For The Explosion In Government Spending

     

    always somebody elses fault even after 4 years. Not my fault. Bushs number was 10T in 8 years Obama is 7T in 4 years.

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    • Greg - Actually, just prior to the Bush first term, the debt was $5.6T, representing a little over half the GDP. That ramped up to $10T and about 67% of GDP at the end of the second term. And an average $550B/year deficit increase over the eight years. With Obama, the deficits have been running about $1.3T/year average with the current total deficit reaching $16T at the end of the Obama era (Nov 2012) and equal to the whole of GDP (100%). So, despite Hooz's usual nonsense "cut and paste" articles full of convolutional logic applied to the debt numbers, Obama has run up a massive increase in debt - period.

 
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