The Flip that Flopped

[Eddie_T]

On the campaign trail then-Senator Obama said:

The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.

In the next few days now-President Obama plans to raise the debt ceiling by another $1.2 trillion . Bush managed to rack up $4 trillion in just 8 years by his lonesome but Obama has racked up $5 trillion in just 3 years with a little help from his friends (and is still charging). So are we to believe that it is now patriotic?

[RedJeepXJ]

wow, and you repeat the same old crap yet again...... do you not get tired of people explaining it to you or do you really not get it? PLEASE PLEASE PLEASE take a course on economics or at least try to understand. WE ARE RECOVERING FROM AN ECONOMIC DOWNTURN, reducing spending would kill the recovery and the republicans won't allow millionaires to be taxed anymore or even allow the bush tax cuts for the rich to be rolled back (but yet completely willing to let the tax cuts for the working man expire). The republicans have stopped every rationale effort to increase revenue. so yes the increase in debt which was set in motion by george bush will continue, notice on the chart the direction the debt was headed even before obama took office....

but you will ignore this post I am sure.....

[Eddie_T]

RJ maybe you had better speak to the Obama on this, he seems a bit confused with a distinct list to port. BTW the slight turnaround is due to the fact that from the bottom there is only one direction rather than the Obama's influence. Maybe you need a refresher in economics assuming you have taken it before.