What A Shame, George Bush Gave Obama Our Credit Card
by James Glaser
October 23, 2009
So many times in the past I have written about how George Bush was spending us into the poor house. I know Barack Obama loves being Commander-in Chief, just like George did. I know Barack Obama hates our constitution, just like George Bush hated it. I know Barack Obama is willing to expend the lives of American troops, just like George Bush did.
What I didn't know, was that Barack Obama, like George Bush, has no understanding of what a "debt" is, and that any new debts he incurs will have to be paid for by future generations.
Here are a few things I wrote about George Bush's spending when he was in office.
Sept 4, 2008
Almost from the day George Bush took office he has been using our credit card to spend money we don't have. George Bush has racked up a huge debt, and every time he has asked, Congress has raised the debt ceiling so he could spend more.
December 15, 2004
When George Bush or those in Congress talk about cutting the deficit in half in four years, well that does nothing for our National debt. The National Debt is the money owed by the Government, while the "federal deficit" that George talks about is the yearly amount by which spending exceeds revenue. When George says he is reducing the deficit, all he is saying is that he will be adding less to the debt that year.
May 13, 2003
As of May 12th 2003, the United States of America owes $6,481,451,044,208.69. That means that each of us has a personal debt of $22,276.82 or we can pass that and its interest on to our grandchildren.
While George Bush was in the White House, one could always find a story about runaway spending, but it wasn't just George Bush and the Republicans, the Democrats went along with almost all of Bush's spending. Now the Democrats and Barack Obama are in charge of the purse strings, and guess what, Obama and his Congress are spending three times, what the Republicans did under Bush.
In 2003, the national debt was almost $6.5 trillion. Today it is at $11.5 trillion. When Barack Obama took over control, the debt was $10.6 trillion. So you can see Obama has added almost a trillion so far this year, but hold on. Here is what Politico is saying about Obama and the Democrat's spending plans.
So, in his first year in office, Obama and his Party are pushing up our debt to $13 trillion. Don't think the bit about hiding spending in a Defense spending bill is something the Democrats thought up on their own, Bush and the Republicans did the same thing.
In so many ways, Barack Obama emulates the policies of George Bush, but in spending our money, Obama is setting new records. It is a shame that the Democrats went along with Bush's spending, because now the Republicans are doing the same for Obama.
The only losers in this spending spree are our children, and their children, and their children's children. It will take at least that long to pay this debt down to a reasonable amount. Either that, or we go belly up, and file bankruptcy.
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