U.S. Federal Debt, Source: U.S Treasury Direct, ©2011 Reflections of a Rational Republican
Nearly three years after Barack Obama became president, many liberals still insist that Bush is primarily responsible for running up the national debt. While the federal debt did increase by $4.9 trillion on President George W. Bush’s watch, it did not increase at remotely the same rate it is increasing under President Obama.
In fact, borrowing under President Obama is occurring at over 2.5x President Bush’s rate.
Yet the left continues to decry Bush’s wars and his tax cuts as the primary culprits of President Obama’s massive national debt increase. If the current President found the tax cuts fiscally irresponsible, why did he sign a bill that extended them during his first two years in office, when Democrats dominated both the legislative and executive branches?
It is time to stop pointing a finger at the last President, and start looking for solutions.
