Maybe so but If Obama (or practically anybody) had been President 2000-2008 we wouldn't be in this mess.
Gallup July 12, 2011 U.S. Debt Ceiling Increase Remains Unpopular With Americans More are concerned about higher level of spending than risk of economic crisis by Lydia Saad PRINCETON, NJ -- Despite agreement among leaders of both sides of the political aisle in Washington that raising the U.S. debt ceiling is necessary, more Americans want their member of Congress to vote against such a bill than for it, 42% vs. 22%, while one-third are unsure. This 20-percentage-point edge in opposition to raising the debt ceiling in Gallup's July 7-10 poll is slightly less than the 28-point lead (47% vs. 19%) seen in May. This measure reflects public opinion about raising the debt ceiling in the abstract. The question wording did not mention the rationales for or against raising the debt ceiling, nor did it explain that any such move would ultimately be a part of a broader budget bill involving spending cuts and perhaps tax increases. Republicans are far more unified in their opposition to raising the debt ceiling (60% opposed, 11% in favor) than Democrats are in their support of it (39% in favor, 21% opposed). Independents tilt heavily against raising the debt ceiling, 46% to 18%, although 36% have no opinion.
You're right. We'd be $30T in the hole and in 12 wars given the debt and conflict escalation we have seen since his inaugeration.
Is there any way we can get a "second opinion", say, on how the rest of the planet views our ability to pay, today, in spite of the deficit? There must be an indicator, somewhere... ; )
War in Iraq is currently costing us less than 100 billion per year, lots of dems were in favour of it. War in afghanistan is currently costing us something aroun 120 billion per year dems almost certainly would have done this one if in charge. Bush tax cuts are about 280 billion per year. Thats puts us at 500 billion/year with bushes dumb ass policies. When Obama came into office the deficit was 1 trillion, and 300 billion of that was TARP money being paid out, which was not a repeated expenditure, and which almost all got paid back (we are only going to pay about 100 billion for TARP.) That leaves the deficit at 700 billion. ( 1 trilion - 300 billion) The current deficit is 1.6 trillion, as opposed to 700 billion, leaving Obama responsible for a 900 billion dollar deficit. Like i have said many times, Bush was a complete asshole, and Obama is worse, sorry you guys have lost the bush card, do the math.
How are they going toi view our ability to pay ten years from now when our debt/gdp is as high as greece? On the plus side, i heard its gotten cheaper to vacation there, maybe they are trying to boost their tourism industry.....
http://finance.yahoo.com/echarts?s=...osshair=on;ohlcvalues=0;logscale=off;source=; Edit: ugh. Sec.... Edit2: ok, that link works now.