What caused the national debt?

[Neotrotsky]

When Bush took office, the national total debt was $5.73 trillion. When he left, it was $10.7 trillion. That's a difference of $4.97 trillion.
So Bush added $4.97 trillion to the total National Debt after 8 years.

CBS
As of October 18, 2010, Papa Obama has added 3 Trillion to the National Total Debt which was a little less than two years at the point
The 43 president line is based on the budgets after 2010


So yes he is adding to the debt at a faster rate
Indeed, 3 trillion/2 year= 1.5 trillion per year
At this rate, 6 trillion in 4 years; 12 trillion in 8 years
As such, at this rate, if allowed, he will match Bush debt in 3 years and
double what Bush added to the national debt in approx 6 years 7 months



Also, if you look at Debt aa percentage of GDP
one can get a better picture


Debt as a percentage of GDP:
Reagan: Up 14.9 percentage points
George H.W. Bush: Up 7.1 percentage points
Clinton: Down 13.4 percentage points
George W. Bush: Up 5.6 percentage points
Obama: Up 21.9 percentage points (through December 2010 only)

 

[Middleoftheroad]

Sweden has one of the fast growing economies in the world.
Gaze upon the horrible face of socialism....

it took them 900 years to acheive it.

We have been one of the strongest economies for years...taking a mere 200 years to acheive it.

So we hit a bump in the road. Shit happens and you learn from it.

Are you one to say "cancel air flight becuase of one plane accident"?

"who cares how well we were doing.....it broke so lets dismantle it and try something different"

Me? I say "dont make major changes, just learn from the accident and make minor changes to make sure it doesnt happen again"

Or we can find a "new way" and let it take 900 years to develop.

I'm confused...are you blaming Sweden for not having an industrial revolution and computer age in the 1100-1200s? And are you also suggesting that Sweden has been socialist since then also? For some reason I thought Sweden was a monarchy until 1866, and only adopted a social democratic economy in 1935. I guess 2011 - 1935 = 900 years, weird math.

 

[JRK]

When Bush took office, the national total debt was $5.73 trillion. When he left, it was $10.7 trillion. That's a difference of $4.97 trillion.
So Bush added $4.97 trillion to the total National Debt after 8 years.

CBS
As of October 18, 2010, Papa Obama has added 3 Trillion to the National Total Debt which was a little less than two years at the point
The 43 president line is based on the budgets after 2010


So yes he is adding to the debt at a faster rate
Indeed, 3 trillion/2 year= 1.5 trillion per year
At this rate, 6 trillion in 4 years; 12 trillion in 8 years
As such, at this rate, if allowed, he will match Bush debt in 3 years and
double what Bush added to the national debt in approx 6 years 7 months



Also, if you look at Debt aa percentage of GDP
one can get a better picture


Debt as a percentage of GDP:
Reagan: Up 14.9 percentage points
George H.W. Bush: Up 7.1 percentage points
Clinton: Down 13.4 percentage points
George W. Bush: Up 5.6 percentage points
Obama: Up 21.9 percentage points (through December 2010 only)

you Ws debt with interest
you have Obama's without
????????????
your other stuff looks good as well as the % to GDP must be apples to apples

 

[Neotrotsky]

Sweden has one of the fast growing economies in the world.

Gaze upon the horrible face of socialism....

Too bad if Sweden was a state, it would be one of the poorest

 

[Chris]

Sweden has one of the fast growing economies in the world.

Gaze upon the horrible face of socialism....

Too bad if Sweden was a state, it would be one of the poorest

Keep trying.

You haven't said one thing that makes sense yet.

Bush and Reagan created the National Debt by lowering taxes for the rich.

The so-called trickle down economics hasn't worked.

Now the 400 people who control half the wealth in this country only pay taxes at a 17% rate. While the rest of us pay a much higher rate. That's why we have a huge debt.

 

[Middleoftheroad]

Sweden has one of the fast growing economies in the world.

Gaze upon the horrible face of socialism....

Too bad if Sweden was a state, it would be one of the poorest

Wrong
List of countries by GDP (nominal) per capita - Wikipedia, the free encyclopedia

it ranks about the same as the USA.
But I'm not sure why we are even talking about Sweden anyways, its not really even socialist.

 

[Chris]

Sweden has one of the fast growing economies in the world.

Gaze upon the horrible face of socialism....

Too bad if Sweden was a state, it would be one of the poorest

Wrong
List of countries by GDP (nominal) per capita - Wikipedia, the free encyclopedia

it ranks about the same as the USA.
But I'm not sure why we are even talking about Sweden anyways, its not really even socialist.

Neither is Obama, but these dumb asses think he is.

 

[Truthseeker420]

These must be todays Democrat talking points because Obama is on TV saying this. Of course he neglects the 3 additional wars he's gotten us into.

3 additional war? what are you talking about.

 

[Neotrotsky]

Sweden has one of the fast growing economies in the world.

Gaze upon the horrible face of socialism....

Too bad if Sweden was a state, it would be one of the poorest

Wrong
List of countries by GDP (nominal) per capita - Wikipedia, the free encyclopedia

it ranks about the same as the USA.
But I'm not sure why we are even talking about Sweden anyways, its not really even socialist.

Oh my
your GDP figures are nominal, that is why there is a difference


[URL="2002 Reuters Limited."]
2002 Reuters Limited.[/URL]

Using real comparative data
Saturday May 4, 10:47 AM EDT

STOCKHOLM, May 4 (Reuters) - Swedes, usually perceived in Europe as a comfortable, middle class lot, are poorer than African Americans, the most economically deprived group in the United States, a Swedish study showed on Saturday.

The study by a retail trade lobby, published in the liberal Dagens Nyheter newspaper 19 weeks before the next general election, echoed the centre-right opposition's criticism of the weak state of Sweden's economy after decades of almost uninterrupted Social Democratic rule.

The Swedish Research Institute of Trade (HUI) said it had compared official U.S. and Swedish statistics on household income as well as gross domestic product, private consumption and retail spending per capita between 1980 and 1999.


Using fixed prices and purchasing power parity adjusted data, the median household income in Sweden at the end of the 1990s was the equivalent of $26,800 compared with a median of $39,400 for U.S. households, HUI's study showed.

"Weak growth means that Sweden has lost greatly in prosperity compared with the United States," HUI's President Fredrik Bergstrom and chief economist Robert Gidehag said.

International Monetary Fund data from 2001 show that U.S. GDP per capita in dollar terms was 56 percent higher than in Sweden while in 1980, Swedish GDP per capita was 20 percent higher.
​

 

[Neotrotsky]

Too bad if Sweden was a state, it would be one of the poorest

Wrong
List of countries by GDP (nominal) per capita - Wikipedia, the free encyclopedia

it ranks about the same as the USA.
But I'm not sure why we are even talking about Sweden anyways, its not really even socialist.

Neither is Obama, but these dumb asses think he is.

Yeah

They probably don't know the difference between nominal and real
numbers



This explains a lot about the debt the Left has given us

 

[Toddsterpatriot]

Sweden has one of the fast growing economies in the world.

Gaze upon the horrible face of socialism....

Too bad if Sweden was a state, it would be one of the poorest

Keep trying.

You haven't said one thing that makes sense yet.

Bush and Reagan created the National Debt by lowering taxes for the rich.

The so-called trickle down economics hasn't worked.

Now the 400 people who control half the wealth in this country only pay taxes at a 17% rate. While the rest of us pay a much higher rate. That's why we have a huge debt.

Still making that stupid claim?
LOL!
400 people do not control half the wealth in the country.
I don't care how many times you flunked out of math class, it isn't true.

 

[Neotrotsky]

Sweden has one of the fast growing economies in the world.

Gaze upon the horrible face of socialism....

Too bad if Sweden was a state, it would be one of the poorest

Keep trying.

You haven't said one thing that makes sense yet.

Bush and Reagan created the National Debt by lowering taxes for the rich.

The so-called trickle down economics hasn't worked.

Now the 400 people who control half the wealth in this country only pay taxes at a 17% rate. While the rest of us pay a much higher rate. That's why we have a huge debt.

Truth is like that for the Left

If you stop reading that one and only crazy left wing web site you might get better
or try looking at the US Flag for awhile, that could help



Really, if you are going to push these failed socialist policies
at least understand them better

Like many, you want certain ends without understanding the means
No doubt a cause of that highly "socialist" entity, the public school system

 

[Mr. Shaman]

Reagan and the two Bushes caused 93% of the National Debt by lowering taxes for the rich.

Click on this link to see the numbers... ReaganBushDebt.org

And you believe in the accuracy of a website labelled "reaganbushdebt.org"?

That would be like me saying "Obama is a socialist...take a look at the facts on this site..

"obamaisasocialist.org"

I think I found your problem

This should keep you occupied, for a "while".

If you could disprove this short-list o'....

anti-Reagan allegations

....it could (potentially) strengthen your position.​

 

[Si modo]

The Obama administration has slated expenditures that are record-breaking.

Just saying.

 

[Neotrotsky]

Too bad if Sweden was a state, it would be one of the poorest

Keep trying.

You haven't said one thing that makes sense yet.

Bush and Reagan created the National Debt by lowering taxes for the rich.

The so-called trickle down economics hasn't worked.

Now the 400 people who control half the wealth in this country only pay taxes at a 17% rate. While the rest of us pay a much higher rate. That's why we have a huge debt.

Still making that stupid claim?
LOL!
400 people do not control half the wealth in the country.
I don't care how many times you flunked out of math class, it isn't true.

Indeed, the Left is concerned with these 400 who own more than half the wealth in the US
like it is their's to be concerned with...

But the thought of "400 million" Chinese eventually owning more than half of our future wealth that Papa Obama and the Left want to keep giving it to,

does not bother them

Funny how that works



Of course, if the Left and Papa Obama can sell enough of our future wealth to the Chinese
then we might be communist by default, since they will own us


This is actually dated, since the debt is even more now

[ame=http://www.youtube.com/watch?v=DsrFa9jrpv8]‪Child's Pay 2‬‏ - YouTube[/ame]

 

[Si modo]

 

[Mr. Shaman]

Sweden has one of the fast growing economies in the world.

Gaze upon the horrible face of socialism....

No doubt!!!

You'd expect that Country to be completely, voluntarily EVACUATED, by now!!!!

I guess they've got a NATIONAL-genetic-predisposition for masochistic-tendencies.

 

[rightwinger]

I gave a thnks to everyone but TM.
She certainly said nothing that added to the discussion.

In a nutshell...

Our politicians found out that their careers will last longer if they keep on spending money on gifts and toys for the people.

We, the people, like stuff. So we vote for people who give it to us.

That is only half the nut

Politicians also like to tell people they cut your taxes. Tax cuts combined with big spending equals big debts....And thats what we have

 

[Mr. Shaman]

The Obama administration has slated expenditures that are record-breaking.

Just saying.

George Bush Jr. has been slated for gender-reassignment.

Just saying.

 

[rightwinger]

We have two wars we can no longer fund....time to get out