Despite debt, nation is still better off now
So many political lies, so little space, so here’s two whoppers.
1) President George W. Bush added only $4 trillion to the national debt. Bush submitted eight budgets, from 2002 to 2009. Creative accountants can’t stand that Bush submitted the 2009 budget, wishing that catastrophe onto President Obama. Bush presided over the first 4 months of his 2009 budget, borrowing some $600 billion though the projected deficit was laughably only $400 billion, following 2008’s deficit of $459 billion.
Inheriting a $5.8 trillion national debt, W’s final budget left America $11.9 trillion in debt, bequeathing a $6.1 trillion legacy, more than doubling the debt. In his defense, he was simply repeating recent Republican fiscal policy, Reagan and Papa Bush managing to more than quadruple the debt, from $1 trillion to $4.4 trillion. Score: Reagan/Papa Bush/Bush – $9.5 trillion, Clinton and 39 others before 1980 – $2.4 trillion.
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