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Originally Posted by Calgaryborn
Yes I agree that everyone included those who voted for Bush is responsible. This mess isn't all Obama's doing. It just got worse under Obama and is to the point where America is going to lose its triple A credit rating. Something has to be done now!
Bush's worse year for borrowing(before the bailout at the end of his term) was 500 billion. The bailout changed that of course. Obama followed up that with another bailout and then a stimulus plan. But even without those included he has dwarfed Bush's borrowing. This year without a bailout or stimulus he will spend 1.3 Trillion America doesn't have.
Certainly part of Obama's problem has been a lack of tax revenue. When Bush cut taxes the country's tax revenue actually went up but, that was a far better economy. What Obama needs to do is spend less until the economy picks up and in the mean time do nothing to harm what economy there is.
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When a goverment spends less it harms the economy, massively.