At the end of eight years this is the result, although, to blame Obama solely for this is disingenuous. The Republican Congress also sent him these budgets and they are just as culpable. The person in the Oval Office is not going to matter if this kind of reckless spending continues.
Obama Leaves U.S.A $9,335,000,000,000 Deeper in Debt
When Bush took office, the budget was nearly balanced with the CBO saying there would be a 5 trillion dollar surplus over the next 10 years. So what happened?
Well, let's add things up.
Three trillion for Bush tax cuts. That means three trillion gone right away. Remember, taxes are revenue. That revenue stream no longer exists.
From 2001 to 2008, over 42,000 factories moved to China. Those factories are gone. The government revenue stream from those factories are gone. The trickle down was gone. The taxes the people working at those factories was gone. All that revenue gone.
See, if you just keep going down the line, the enormous damage the GOP did wasn't just one time. The entire revenue stream was gone.
Then you have the trillions lost in Iraq, which even Trump talks about.
GOP damage wasn't limited to just throwing away money, it went to the foundation of the country. Then along comes Obama. Republicans blaming all their vast damage on him. What was he supposed to do? Republicans not only created debt, but they took away the means to pay down that debt.
And now we have the King of Debt as our commander in chief. The days of blaming Obama are over.
Donald Trump: 'I'm the king of debt'