galrads: I believe it to be change, unification, economic healing and rediscovering who this country (USA) is.
I don't know about unification Raddy . He took over at a very bad time and if the US had its total banking system collapse rather than segments he would have been blamed so I guess he sorted that . Borrowed or printed the money that paid for Bush's wars . Slotted Osama bin Laden and a whole lot of his Islamic mates . Tried to help low income Americans with access to medical care . I'll be skipping the bad bits as I'm sure it will be covered . I think he is a decent man .
lifeisadreamMexi Go, Mexico State Mexico16,713 posts
"Barack Obama - The national debt grew the most dollar-wise during President Obama's two terms.
He added $7.917 trillion, a 68 percent increase, in seven years.
Obama's budgets included the economic stimulus package. It added $787 billion by cutting taxes, extending unemployment benefits, and funding job-creating public works projects. The Obama tax cuts added $858 billion to the debt in two years. Obama's budget included increased defense spending to between $700 billion and $800 billion a year.
Federal income was down, thanks to lower tax receipts from the 2008 financial crisis. He also sponsored the Patient Protection and Affordable Care Act. It was designed to reduce the debt by $143 billion over ten years. But these savings didn't show up until the later years. For more, see National Debt Under Obama.
George W. Bush - President Bush added the second greatest amount to the debt,
at $5.849 trillion.
But that was a 101 percent increase to the debt. It was $5.8 trillion on September 30, 2001. That's the end of FY 2001, which was President Clinton's last budget. Bush responded to the 9/11 attacks by launching the War on Terror. That drove military spending to record levels of between $600-$800 billion a year. It included the Iraq War, which cost $807.5 billion. President Bush also responded to the 2001 recession by passing EGTRRA and JGTRRA. These were known as the Bush tax cuts and they further reduced revenue. He approved a $700 billion bailout package for banks to combat the 2008 global financial crisis. Both Presidents Bush and Obama had to contend with higher mandatory spending for Social Security and Medicare. For more, see President Obama Compared to President Bush Policies....."
"...... After all, adding a few trillion dollars onto a debt that's already a few trillion dollars in size is less of a change than if you add a few trillion dollars to almost no debt."
"...... After all, adding a few trillion dollars onto a debt that's already a few trillion dollars in size (Obama's) is less of a change than if you add a few trillion dollars to almost no debt (Bush's)."
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