Comments on: How much of the national debt was carried over from the Bush Amdinistration?

By: Pat

Pat — Tue, 02 Mar 2010 21:17:48 +0000

“When Bush was sworn in on January 20, 2001, the national debt was $5,727,776,738,304.64.
When “W” left office on January 20, 2009, the national debt was $10,626,877,048,913.08.
The growth in the national debt during his eight years in office: $4,899,100,310,608.44.
The average yearly growth in the national debt during Bush’s presidency: $612,387,538,826.05.
During much of Bush’s tenure, he had a Republican majority in both the House and the Senate.
He claimed that tax cuts would pay for themselves – they did not. He claimed that tax cuts would result in growth – we are in the worst economic downturn since the Great Depression.”

As of today, “The latest posting by Treasury shows the National Debt at nearly $12.135 trillion.”

GOOGLE KNOWS ALL.

By: DAR

DAR — Mon, 01 Mar 2010 17:20:32 +0000

about 10 trillion.

It is cumulative unless paid down or off, which Bush didn’t do.

But Obama could teach him quite a bit about deficits, see chart:

By: Bad Wolf

Bad Wolf — Sun, 28 Feb 2010 09:18:49 +0000

Wrong on both accounts.

There was no surplus.
The debt was not tripled by Bush.

Also don’t forget that spending is controlled by Congress not the President. The largest increases in debt during Bush’s Presidency were the last two, when the Democrats controlled Congress.

Year – Gross Debt in Billions – as % of GDP

2001 – 5,769.9 – 57.4
2002 – 6,198.4 – 59.7
2003 – 6,760.0 – 62.6
2004 – 7,354.7 – 63.9
2005 – 7,905.3 – 64.6
2006 – 8,451.4 – 65.0
2007 – 8,950.7 – 65.6
2008 – 9,985.8 – 70.2

By Contrast here are the projected debts -
2009 (est.) – 12,867.5 – 90.4
2010 (est.) – 14,456.3 – 98.1

Insanely high.

By: neocon idiot

neocon idiot — Thu, 25 Feb 2010 19:34:19 +0000

I tend to look at budget to budget.

When Bush’s first budget took effect on Oct 1, 2001, the debt was about $5 trillion dollars.

When Bush’s last budget expired on September 31, 2009, the debt was over $11 trillion dollars.

By: Rise Above communism

Rise Above communism — Wed, 24 Feb 2010 16:51:58 +0000

It’s not our dept that bothers you, it’s how much bush left, today in the real world obama is president, he is the person that you should worry about with our dept., bush can’t hurt you no more O.K What is it you guys live in the past with bush and in the future with global warming, what happened to the now

By: Bert

Bert — Tue, 23 Feb 2010 06:57:27 +0000

When Bush was sworn in on January 20, 2001, the national debt was $5,727,776,738,304.64.

When Bush left office on January 20, 2009, the national debt was $10,626,877,048,913.08.

The growth in the national debt during his eight years in office: $4,899,100,310,608.44.

Currently, it’s at $12,139,171,775,200.64………..an increase of $1,512,294,726,287.56 in less than one year.

By: scifnutt

scifnutt — Mon, 22 Feb 2010 12:11:01 +0000

surplus?
you are joking, right.
if not anything other then what you want to be true you wont believe

By: Felonius Monkey

Felonius Monkey — Tue, 16 Feb 2010 16:28:29 +0000

All of it.

“Reagan proved deficits don’t matter,” Vice President Cheney said in 2002 when pushing for a fresh round of tax cuts. With this attitude in hand, Bush passed on a budgetary nightmare to his successor. Bush came into office with an advantage few presidents have enjoyed — a $230 billion surplus. But due to a $1.35 trillion tax cut in 2001, a $1.5 trillion tax cut in 2003, and a massive defense buildup through the Iraq and Afghanistan wars, Bush quickly blew through that surplus. The next president will “inherit a fiscal meltdown,” Senate Budget Committee Chairman Kent Conrad (D-ND) warned in February 2008, as the Bush administration projected a budget deficit of $400 billion. After the financial crisis emerged last fall and the ensuing bailouts, Bush’s budget deficit ballooned to over $1 trillion.