During the administration of George Bush the federal debt increased by $5.1 trillion over 8 years. A lot of trees lost their lives to the reporting on this and reporting about it on the web burned more energy than an Al Gore tour promoting cutting fuel consumption.
As the reporting correctly pointed out, the debt grew by almost double under Bush. What the reporting always failed to mention was the double hit Bush took on the associated costs of 9/11 and Hurricane Katrina.
In fact not only did the administration critics ignore the cost of Katrina on the national debt, they actually attacked him for not spending enough. Those crazy libs, you just can't seem to make them happy.
We may find though, 3 or 4 years from now, that Bush was a rank amateur when it comes to his successor Barack Obama.
As I said above Bush increased the national debt by $5.1 trillion dollars over 8 years.
In a month and a few days Obama has managed to
-Push through a stimulus package that we were told would cost $800 billion but the Congressional Budget Office has estimated will cost as much as $3.27 trillion over 10 years (source)
-Sent a budget to Congress with a $1.75 trillion deficit (source and here)
-Proposed a health care package costing $634 billion but is projected to cost $1 trillion (source)
Now if anyone has a calculator handy they will realize this is $6.02 trillion in spending that he has not told us how he will pay for.
At the same time we have Obama promising to cut the national debt to $533 billion by 2013. If he spent no more money, there is already talk of more stimulus and the auto companies are knocking on the door of Congress again, he would have to offset this spending by $5.5 trillion in income.
In dollars, he would have to collect $18,290 from every man, woman, and child in the US. For anyone that thinks he can pay for his spending to date and erase the debt, read this.
For anyone who still thinks he can do it, I have some lakefront property for sale. There are pictures of it on my last blog.