An example of what I just said can be seen in both parties blame game on the defecit and national debt. Some people claim bush made the national debt so big so its his fault and some claim it was obama, however the numbers will show what I just said about it being both parties to be true
Debt to the Penny (Daily History Search Application)
1/29/2001 national debt was 5.73 trillion
1/28/2009 natoinal debt was 10.63 trillion
Bush added 4.9 trillion over 8 years or 0.63 trillion/year or 34% of the total national debt
1/29/2009 national debt was 10.63 trillion
1/29/2011 natoinal debt was 14.06 trillion
Obama added 3.4 trillion over 2 years or 1.72 trillion/year or 24% of the national debt.
Total national debt 14.06 trillion
Of course, fiscal budgets for each president don't run by calendar years. You have part of Clinton's budget helping Bush and part of Bush's budget hurting Obama. It was no less than Reagan in his first State of the Union speech who said you count each presidents deficit from budget year to budget year PLUS the interest on that debt.
"A trillion dollars would be a stack of thousand-dollar bills 67 miles high.
The interest on the public debt this year we know will be over $90 billion, and unless we change the proposed
spending for the fiscal year beginning October 1st, we'll add another almost $80 billion to the debt."
Ronald Reagan - February 18, 1981
So at the end of Clinton's last budget the debt was
http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm
09/30/2001 - $5,807,463,412,200.06
And Bush"s was
09/30/2009 - $11,909,829,003,511.75
Which puts Bush's debt at
$6,102,365,591,311.69 minus the interest on the $5.8 trillion in debt passed to him or 42% without deducting interest.
The debt we started the day with today is
http://www.treasurydirect.gov/NP/BPDLogin?application=np
04/18/2011 - $14,309,159,097,877.65
So Obama's debt is
$2,399,330,094,365.90 minus the interest on the $11.9 trillion in debt passed to him or 17% without deducting interest.
Not only should you deduct the interest on the debt passed on to Obama, but you should deduct the cost of the two unfinished wars Bush passed on as well. If you did, Obama would have little or no debt!!!!!!!!