Bush has borrowed us into OBLIVION

The President seems to be blaming everybody but himself for these things. In his address last night, he blamed homeowners but nothing about his irresponsible borrowing and growth of government.

Bush has borrowed more money than all President's combined.

According to the Treasury Department, from 1776-2000, the first 224 years of U.S. history, 42 U.S. presidents borrowed a combined $1.01 trillion from foreign governments and financial institutions, but in the past four years alone, the Bush administration borrowed $1.05 trillion.

digg.com...

Cutting taxes was the right thing to do because it increased savings, investment and government returns and it made credit easier to borrow and this is why interest rates was low.

The problem is Bush borrowed and spent like crazy and he didn't reduce the scope and size of government.

He couldn't find a veto pen. Reagan had like 78 vetoes and Bush I think is at 12.

This guy has been a 8 year disaster.

This is what you get when you elect a guy because he clears brush on his ranch and you think he will be a good drinking buddy.

I used to be a mortgage broker before I started my own business. People made alot of money in Real Estate and so did I. People began to refinance and then 6 months later they were trying to refinance again.

When a sector of the economy took a downturn, there wasn't any cushion because Washington was sucking up all the capital with there borrowing and spending.

For years nobody has done anything about energy. When Al "Green Thumb" Gore was in office you barely heard a peep about Green Technology.

I had to mute Bush out because it was just more fearmongering last night and blame everybody but himself.

While I am no fan of Bush, to blame him is shortsighted and stinks of desperation to find a scapegoat. Think of it this way. Work begins on a brand new building. Everything is going great, last floor is about to be done. A guy screws up and the bricks for this top floor are weak and crumbling. The next day we find the whole building had collapsed. You can't blame just the guy who put the top floor on, you gotta portion the blame around to the other people responsible for it all. Just like Bush, he may have put is in debt more than any president. But we still had trillions of debt when he came in. He may have started a costly war, but so have many other presidents. The economy may suck right now, well it did during the depression. There is alot more going on here then we will ever know about, and to blame one man for the downfall of a country is absurd.

If you want to get down to the blame game we can start with Woodrow Wilson, Blame Nixon, Blame Reagan, Blame Clinton, Blame Bush I, Blame Bush the II.....Hell, blame everyone!

Now if you want to get serious and blame the actual ones that are responsible for the current state of affairs, all one need to do is simply look in the mirror.

[edit on 25-9-2008 by bismarcksea]

reply to post by ninthaxis


No it's not, when the policies of Bush and the republicans borrowed more money than every President combined.

It's just common sense. If you borrow money to catch up on a few bills, you can't spend through your savings or you will face bankruptcy.

There's no reason for us to have over a 9 trillion dollar debt. There's no reason for Bush to have to borrow more money than every President combined.

Of course more people are to blame but that doesn't excuse the irresponsible actions of this President. You can't borrow and spend and anyone with a shred of common sense knows this.

The Bush philosophy was go out and shop.

This is what Ron Paul has been talking about. Our monetary system and massive borrowing to pay for Empire building and other things.

Bush has borrowed us into oblivion and there's no way to get around this. He had accomplices but he also had a veto pen and he could have controlled spending.

When you cut taxes savings and investment increase so of course people are going to borrow money because interest rates are low.

You have to save for a rainy day and if you have government borrowing and spending like crazy, if a downturn comes things will crash.

[edit on 25-9-2008 by Wise Dome]

Ok see, now you are starting to prove my point. As I said, you cannot blame one man, Bush, for these problems alone. So now you are including the republicans in the mix of blame. We are now making some progress. You see, Bush could not have done a damn thing without congress backing him up and providing him with legislation and bills to allow this kind of spending to occur. Now, since we are talking about elected officials here, who's to blame now. Keep following the trail, keep going, and BAM, you end up with individuals such as you and me. Granted I dont mean you personally or even me for that matter, but everyday citizens casting their measly little vote for those guys. Not a lot of people will respond kindly to this however, because self-examination is a notoriously difficult thing to swallow.

reply to post by ninthaxis


You have valid points and to follow the trail all the way down to the voters is a logical route and ends precisely where your trail leads you. To the validation of the root cause.

Unfortunately, (congress notwithstanding), to have a trail leading to voter responsibility, you must have the elected official.

If memory serves me, This Bush was appointed. Now the trail leads to the Supreme Court. Who elected them?

reply to post by ninthaxis


Of course there's more people to blame but there's nobody to blame for this massive borrowing but Bush. He could control spending and that's why he has power of the veto.

There's alot of people to blame but that doesn't excuse Bush for his irresponsible behaviour and that's what you seem to be missing.

Again, you are trying to blame the people and make a general statement. I'm blaming Bush and his administration for massive borrowing and he had the power to stop it.

Not you, not joe six pack, but President Bush could have stopped it with the veto pen.

There's no excuse when you borrow more money than every President combined. That's just irresponsible and it's not necessary.

507 billion dollars for the defense budget. Why do we need to spend this much money on defense? Were not in a Cold War.

Russia has increased it's defense spending by 20% and these people will use this as an excuse to spend more money.

Do you know that Russia increasing spending by 20% is 40 billion dollars!! We spend $507 billion on defense, WHY?

700 billion about to shipped overseas for energy. 700 billion dollar bailout plan.

How in the world can you try to blame joe sixpack for Bush and his irresponsible behaviour?

Why are we borrowing 12 billion dollars a month from countries like China to stay in Iraq when they have a projected 4 year surplus of up to 80 billion dollars?

Homes foreclosing, gas prices going up and 700 billion dollar bailouts and people want to blame us for this?

This is George W. Bush with help from the irresponsible members in congress and the dirty bankers at the fed sit back and make money from this irresponsible behaviour.

reply to post by Wise Dome


Now you have more people you are blaming. You have included the "dirty bankers" onto your list now. I only point this out because you started out blaming only Bush, that field has broadened considerably to include congressmen and bankers.

reply to post by ninthaxis


Nope, I started out blaming Bush for this massive borrowing and I stick to that.

You are the one that tried to use the american people as a scapegoat for this irresponsible borrowing.

reply to post by Wise Dome

This is George W. Bush with help from the irresponsible members in congress and the dirty bankers at the fed sit back and make money from this irresponsible behaviour.

Bush could not have done it without these people. If these people assisted then they share equal parts of the blame. You said it yourself anyways.

Let me burst the bubble here,

Bush is the biggest spender since LBJ

George W. Bush, despite all his recent bravado about being an apostle of small government and budget-slashing, is the biggest spending president since Lyndon B. Johnson. In fact, he's arguably an even bigger spender than LBJ.

“He’s a big government guy,” said Stephen Slivinski, the director of budget studies at Cato Institute, a libertarian research group

www.mcclatchydc.com...

Numbers don't lie.

During the present administration the Growth in federal spending when unchecked, one of the reason that the financial went also unchecked thanks to deregulation.

Now we have a financial crisis

Republican, Democrats, National Debt, and Fiscal Responsibility

near the end of George W. Bush’s presidency, our national debt is $9.6 trillion. We owe $5 trillion of that to China, a communist country we don’t like and who doesn’t like us. We have made absolutely zero payments on our national debt since Bush took office. Instead, Bush has nearly doubled our national debt, and he keeps spending. The economy is weaker, the dollar is weaker, and we’re further in debt than we ever have been before. We continue to pay for the war and reconstruction in Iraq despite the fact that the Iraq government has a $79 billion surplus earning interest in banks in New York. This is the epitome of fiscal irresponsibility.

bunkinthewest.wordpress.com...

A nice comparison in numbers for those that wants to take their blinds and smell reality.

Bush's Bankruptcy Legacy: Three Years and Nearly 1.5 Million Bankruptcy Filings Later

www.americanprogress.org...

Numbers don't lie.

I agree that under the current administration, the debt has risen dramatically, the economy is worse off, the dollar has lost much value. But to blame one single person is ridiculous. He is just the tip of the iceberg. As I stated earlier in the thread, I don't like Bush. I am not defending Bush. I hold him responsible for this mess, but I hold him jointly responsible. He could not have done it himself, it is impossible.

More on the deficit under the present administration,

Budget Deficit Jumps 153 Percent

This year’s budget deficit will jump 153 percent from last year’s $161 billion shortfall, according to a report released yesterday by the Congressional Budget Office. The $246 billion increase will push this year’s deficit to a total of $407 billion. That number does not reflect the recent government takeover of mortgage giants Fannie Mae and Freddie Mac, which will become incorporated into the federal budget in January.

All this problems has affected our nation financial system.

When we as a nation can not longer produce our wealth we depend on borrowing and consumerism to support the economy, as people loses their jobs is not longer a mean to support that spending.

We as a nation can not survive as spenders alone.

Borrowing from nations like China, japan and UK as they are on the top is the reason we are supporting most of the nations needs.

Furthermore, The CBO reported that it expects the deficit to exceed $400 billion in the next two years if the current policies remain in place. The estimate for the cumulative deficit over the next 10 years now sits at $2.3 trillion.

With the new bail package in congress for the bankers behind the shadow government call the Fed our deficit will become catastrophic.

Is not way that without wealth building in the nation we will ever be able to catch up.

www.economyincrisis.org...

reply to post by ninthaxis


Nope, the buck stops with the President when it comes to borrowing.

That's why he has the veto pen and the bully pulpit.

This is why Reagan used the veto pen like 78 times and Clinton even used it 37 times, Bush 12.

He could control spending, instead he pushed alot of it.

Congress will always overspend if you let them. They will always want money for projects in their district.

The President can stop these things with the veto pen.

You have to go back to Warren Harding to find a President who used the Veto Pen less than Bush.

He borrowed more money than all Presidents combined.

This quote alone should make it glaringly obvious that there has been no other president in history, not even Nixon, who could do to this country what has been done:

Bush has borrowed more money than all President's combined.

According to the Treasury Department, from 1776-2000, the first 224 years of U.S. history, 42 U.S. presidents borrowed a combined $1.01 trillion from foreign governments and financial institutions, but in the past four years alone, the Bush administration borrowed $1.05 trillion.