"Barely anyone blinked and no blaming fingers were pointed as President George W. Bush increased the U. S. national debt by more than a record 72 percent.
Politicians held the country’s economic future captive with political posturing in the face of an Aug. 2, 2011 out-of-money deadline only hours away. People in general, and Republicans in particular, forget that the national debt increased more under Bush than under any other president in American history.
When CBS White House correspondent Mark Knoller pointed out the skyrocketing national debt in 2008, few took notice. Also ignored was that buried deep in bailout legislation presented in waning months of the Bush Administration was a provision that would raise the national debt ceiling (to 11.315 trillion) for the 7th time during his presidential term. (“Bush Administration Adds $4 Trillion To National Debt,” Mark Knoller, CBS News, Sept. 29, 2008.)
David Stockman, President Reagan’s Office of Management and Budget director, later blamed the Reagan Administration’s "ideological tax-cutters" for the increase of the national debt in the 1980s. Did anyone in Washington then, or in 2011, realize that when spending goes up, revenue must increase in order to keep pace?"................READ MORE
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