Like a chicken, lets cut this up for the BBQ.
Did you think that the steep recession that Bush put the USA into was going to fix itself?
This is called begging the question. The proof has not be given to prove the statement. The reason so much debt was added, is the all of the companies that I mentioned were bailed out except for Lehman Brothers (which TARP did not save).
So which are you talking about, the bailout or TARP? They are two different things. Bush ran both of them by McCain and Obama for their approval. They both gave it. Bush lowered taxes for the highest income tax bracket from 40 percent to 35 percent). So for 10 plus years individuals in that bracket have been paying lower taxes than they were under Clinton.
10 plus years? That means, as some of us know, that Obama signed off on them making them the Obama tax cuts for the rich. So more money going out and less money coming in and that increases your debt.
Typical lib, doesn't realize the economy is not static but dynamic. Kennedy knew that, Nixon knew that, and Reagan knew that. At no time in our history has the government spent that much money on bailing out bankrupt companies, plus Bush spending 20 billion per month looking for WMD's in Iraq.
You have a source for this turd? We spent just a little less than a trillion dollars in Iraq. So 75 months of Iraq equals $1.5 trillion...oops! The math doesn't work. I wonder how much was spent giving the troops hot meals? According to this bozo, nothing! The bailouts had to happen or you would have a full blown depression just like in 1929 under Hoover.
In 1921 the US economy had a greater downfall and the government did NOT rescue the companies. No depression. The debt will decrease over time because those in the highest income tax bracket will be paying more tax and the economy is expanding. Paul Ryan with the 3 times failed budget plan tries to use the the new tax along with cutting health care for seniors to balance the budget.
Another lie you bought into. When you tax something you get less of it including growth and expansion. Any econ101 student knows this. This goes to show you that the tax is significant in getting the debt under control. Moody's lowered the credit rating of the USA before subsequently raising back to a triple (AAA) rating because not enough tax revenue was coming in. Obama would not have had to increase the debt to level that he did if all of these companies had not gone bankrupt at the same time. Under Bush Wall street crashed and the Banking system almost completely collapsed
. I wonder what happened to Kaiser, Dusenburg, Studebaker, the Dumont network, PanAm, and TWA? Good thing they didn't go bust or we would not have any cars, ships, TV shows, or airlines. Businesses go under and they get replaced by something stronger and more innovative. Bailouts prevent the natural order. At least you admit that Obama increased the debt. First piece of honesty you've written. Of course Bush had to deal with 9/11, the bubble, Fannie and Freddie, world terrorism, and two wars. Some how Obama outspent him with only one war and a "recovering economy".
There! That chicken has been cut up.