..but I don't think that it's unreasonable for others to pick Obama as the worst. Really, when is the spending going to stop?
Not really
Do you have the vaguest idea how much interest we'll be paying on this monumental debt?
Makes a good case for getting rid of the Bush tax cuts right since they are the single biggest driver of the federal debt.
Legislative drivers can be further broken down using CBO cost estimates for six high-profile laws enacted over the last 10 years as well as the cost of the operations in Iraq and Afghanistan
1. The 2001/2003 tax cuts (Republican President + Republican Congress)
2. The overseas operations in Iraq and Afghanistan; (Republican President + Republican Congress for Iraq War, Both Parties for Afghanistan war)
3. Medicare Part D (Republican President + Republican Congress)
4. The Troubled Asset Relief Program (TARP)(Republican President + Both Parties in Congress)
5. The 2009 stimulus (Democratic President + Democratic Congress)
6. The December 2010 tax legislation. (Democratic President + Both Parties in Congress)
The excess growth in publicly-held federal debt beyond 2001 expectations has been the result of a variety of factors. However, new legislation enacted since January 2001 has been responsible for two-thirds of the debt growth. In the new legislation, roughly three dollars of new spending has been enacted for every two dollars in tax cuts between 2001 and 2011. No single policy or piece of legislation, however, is overwhelmingly responsible for the $12.7 trillion shift in CBO’s debt projections for 2011 that occurred between January 2001 and March 2011.
Full Report
http://www.pewtrusts.org/uploadedFiles/wwwpewtrustsorg/Fact_Sheets/Eco nomic_Policy/drivers_federal_debt_since_2001.pdf
Listen, I know what Obama is doing, he's implanting as many socialist programs as possible,
Like 'Obamacare' which the leading Conservative think-tank the Heritage Foundation proposed in the 1990s.
http://www.heritage.org/Research/Re...Credits-to-Create-an-Affordable-Health-System
be they high income (those greedy-evil rich private jet guys),
Or Buffett, Gates, Soros, Spielberg etc etc
sub $200k per year (middle class)
or low income earners
His tax plan for them gives a different picture.
thanks to 'w' and obama the big spenderswe get to get acquainted with the value of a trillion... lucky us!
Well, you could have done that easily if you looked at Reagan's debt in current dollars.