When George W. Bush left office, the federal debt was $9 trillion. That's a huge amount, and Bush added nearly $4 trillion to the total, a disgraceful legacy caused primarily by profligate domestic spending and foreign wars. Bush's second term deficits averaged around $500 billion. But still, the $9 trillion represented America's entire debt accumulated from the founding through 2008. Now, under Obama, the federal debt is $18.5 trillion. It's larger than America's gross domestic product which is around $17 trillion. The debt will be over $19 trillion when Obama leaves office. While progressives professed to be scandalized by Bush's $500 billion deficits, they have remained silent while Obama racks up trillion-dollar deficits. During the Reagan years the left fretted about "two hundred billion dollar deficits as far as the eye can see." What were annual deficits under Reagan became monthly deficits under Obama. In less than eight years, Obama has doubled the national debt.
( Dinesh D'Souza )
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