National Debt: Bush vs. Obama

  • News
  • Thread starter syano
  • Start date
  • Tags
    debt
In summary, the YouTube clip analogously talks about the rate at which US Presidents increase the national debt in terms of miles per hour when driving a car. Obama's past ridicule of Bush's spending certainly raises an eyebrow.
  • #71
Ivan Seeking said:
Obama was handed a failing economy and was forced to take drastic action in order to prevent either a complete meltdown, or a decade or more of stagflation - no growth - according to most economists and experts. Japan is often cited as an example of what can happen if the government responds too slowly or with too little stimulus, when responding to a crisis. Their economy went flat for more than a decade.

Up until the very end, much of Bush's spending, as in Iraq, was elective. He was handed a relatively thriving economy that nearly collapsed by the time he left.

IMO, one of the few things that Bush did right was to sign the bailout bill. Obama had no objections; in fact he worked to gain support for the bill. Consider the graph and compare that to the actual debt at any time, and the importance of sustained growth becomes clear. Growth is how we keep our debt from burying us. Note that the graph is essentially our national debt to income ratio, over time.

You make some good points Ivan. I think though one of the most frustrating factors in regrad to the Obama bailout though is the padding that came along with it. I am not sure that everyone is aware how many people were paid off in the process. It was a prime opportunity for the gov to do that and quite frankly it pisses me off. I am at the point where I feel the gov, which ever side, does not work for us but for those that paid to put them there.
 
Physics news on Phys.org
  • #72
syano said:
This YouTube clip analogously talks about the rate at which US Presidents increase the national debt in terms of miles per hour when driving a car.

https://www.youtube.com/watch?v=<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/P5yxFtTwDcc&hl=en&fs=1"></param><param [Broken] name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/P5yxFtTwDcc&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>

Basically everyone was moving along slowly… then Bush speeds up to 64 miles per hour then Obama speeds up to 174 miles per hour.

How accurate is this? Is it a fair analogy?

Thanks,

You just proved the fact: that the only thing right winger are good at is lying!
 
Last edited by a moderator:
<h2>1. How much did the national debt increase under Bush and Obama?</h2><p>The national debt increased by about $5.8 trillion under Bush and $8.6 trillion under Obama.</p><h2>2. Which president added more to the national debt?</h2><p>Obama added more to the national debt than Bush, but this can be attributed to the economic recession and government spending to stimulate the economy.</p><h2>3. Did Bush or Obama inherit a larger national debt?</h2><p>Bush inherited a national debt of about $5.7 trillion from the previous administration, while Obama inherited a national debt of about $10.6 trillion from Bush.</p><h2>4. How did the national debt affect the economy under Bush and Obama?</h2><p>The national debt can have both positive and negative effects on the economy. Under Bush, the national debt contributed to economic growth, but also led to concerns about long-term sustainability. Under Obama, the national debt helped stimulate the economy during the recession, but also raised concerns about future economic stability.</p><h2>5. Is the national debt a result of policies implemented by Bush or Obama?</h2><p>The national debt is a result of a combination of factors, including policies implemented by both Bush and Obama, economic conditions, and government spending. It is not solely the responsibility of one president, but rather a complex issue that requires careful management and consideration from all administrations.</p>

1. How much did the national debt increase under Bush and Obama?

The national debt increased by about $5.8 trillion under Bush and $8.6 trillion under Obama.

2. Which president added more to the national debt?

Obama added more to the national debt than Bush, but this can be attributed to the economic recession and government spending to stimulate the economy.

3. Did Bush or Obama inherit a larger national debt?

Bush inherited a national debt of about $5.7 trillion from the previous administration, while Obama inherited a national debt of about $10.6 trillion from Bush.

4. How did the national debt affect the economy under Bush and Obama?

The national debt can have both positive and negative effects on the economy. Under Bush, the national debt contributed to economic growth, but also led to concerns about long-term sustainability. Under Obama, the national debt helped stimulate the economy during the recession, but also raised concerns about future economic stability.

5. Is the national debt a result of policies implemented by Bush or Obama?

The national debt is a result of a combination of factors, including policies implemented by both Bush and Obama, economic conditions, and government spending. It is not solely the responsibility of one president, but rather a complex issue that requires careful management and consideration from all administrations.

Similar threads

  • General Discussion
Replies
5
Views
3K
Replies
7
Views
2K
Replies
5
Views
2K
Replies
180
Views
19K
  • General Discussion
2
Replies
43
Views
7K
  • General Discussion
Replies
34
Views
4K
  • General Discussion
Replies
14
Views
2K
  • General Discussion
2
Replies
61
Views
9K
  • Beyond the Standard Models
Replies
14
Views
5K
Replies
86
Views
19K
Back
Top