[quote=CA renter][quote=jeeman]Yes, i agree with SDRealtor. It was a “sugar-high”, and the positive GDP is mostly just growth in the government.
That is not growth, since government can only grow by taxing a growing private sector or by borrowing from foreigners (i.e. the Chinese). We have to pay all of this back one day. Obama has increased our debt in 2 years more than Bush did in all 8 of his years![/quote]
True about Obama’s debt, but most of that is due to various bailouts and programs that were meant to keep asset prices artificially inflated (not really what most would call a “liberal” cause).
Mind you, I think we needed to spend some public money, mostly to keep people fed and clothed — unemployment insurance was reasonable, IMHO — but the financial/housing/mortgage sector has sucked up trillions of dollars.[/quote]
True about Obama’s debt? Not exactly. Almost half of the increase in debt was a result of Bush’s last budget, which was a HIGHER deficit than Obama’s first budget deficit. That needs to be repeated. Bush’s last budget deficit was HIGHER than Obama’s first budget deficit. Credit anywhere for Obama reducing the deficit? The debt ceiling will have to be raised again in the next few months but just as it is unfair to saddle the new congress with that responsibility, it is unfair to saddle Obama with the carryover from the congress and administration which preceded him.
