Put the first mark at the inauguration of Ronald Reagan, then monitor the growth undere Reagan, Bush 41 and Bush 43 compared to Clinton and Obama’s fist four. NO comparison on which administrations, and which wars,really ran up the debt ceiling.
King is basically right. Obama inherited programmed or mandatory spending programs from several past Congresses. Discretionary spending, of which the military is by far the largest item, requires an annual congressional appropriation, and military spending is largely locked in by the Bush wars that are being wound down despite Republican gripping and fear-mongering..If you recall the financial disaster unfolding in 2008, spending was required to turn the economy around..Although debt went up under his watch, Obama is largely having to make the best of what he was dealt.
@Radish I hate it when Republicans accuse Obama of having secret plans to ruin the country. As such I would not accuse Bush of planning for the way things turned out. Bush was working on the false fact that lowing taxes increases revenue as it did with Reagan. The problem is that the idea is too simple. It is like saying a tire works better when air is put into it. While true in some circumstances leads to a blow out in others.
The reason we are in debt is that SOMEBODY started two (2) very expensive wars and put them on the nation’s credit card. Then, for the first time in history, SOMEBODY cut taxes during wartime.
We are paying more on the interest for Bush’s stupid wars than all of Obama’s stimulus spending combined. This is a republican debt, a republican deficit, and a republican recession.
Dtroutma over 11 years ago
Put the first mark at the inauguration of Ronald Reagan, then monitor the growth undere Reagan, Bush 41 and Bush 43 compared to Clinton and Obama’s fist four. NO comparison on which administrations, and which wars,really ran up the debt ceiling.
Gypsy8 over 11 years ago
King is basically right. Obama inherited programmed or mandatory spending programs from several past Congresses. Discretionary spending, of which the military is by far the largest item, requires an annual congressional appropriation, and military spending is largely locked in by the Bush wars that are being wound down despite Republican gripping and fear-mongering..If you recall the financial disaster unfolding in 2008, spending was required to turn the economy around..Although debt went up under his watch, Obama is largely having to make the best of what he was dealt.
Hectoruno over 11 years ago
@Radish I hate it when Republicans accuse Obama of having secret plans to ruin the country. As such I would not accuse Bush of planning for the way things turned out. Bush was working on the false fact that lowing taxes increases revenue as it did with Reagan. The problem is that the idea is too simple. It is like saying a tire works better when air is put into it. While true in some circumstances leads to a blow out in others.
jquinn924 over 11 years ago
The reason we are in debt is that SOMEBODY started two (2) very expensive wars and put them on the nation’s credit card. Then, for the first time in history, SOMEBODY cut taxes during wartime.
We are paying more on the interest for Bush’s stupid wars than all of Obama’s stimulus spending combined. This is a republican debt, a republican deficit, and a republican recession.