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Originally Posted by PaulS
2 totally different economies. The Obama debt was bc we were trying to recover from the Bush recession (largest since the great depression). Trump is running up a huge deficit with low unemployment and booming economy.
The Repub. howled and complained about that debt but now are sitting on their hands afraid to say anything.
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"The Obama debt was bc we were trying to recover from the Bush recession "
Some of the debt was related to recession recovery, some was also because of the wars he inherited. Some of it was also because pof liberal pet projects like Obamacare (which did some great things but was expensive) and the "stimulus", which cost 750B of borrowed money, and I have no idea where any of it went, where were those shovel ready projects?
By the way, on the "Bush" recession, which party controlled both houses of Congress when it happened?
Kidding. But that recession was not Bush's fault. It was partly the GOPs fault for saying banks could also be investment houses, and partly Clintons fault for signing that (was that the repeal of Glass Segal?). Also the fault of fraud on Wall Street with fishy things like collateralized debt obligations which almost no one understands, that wasn't the fault of either party. And lastly, not something democrats like to point out, large numbers of people being stupid and buying way more house than they could ever afford. Plenty of blame all around...both parties, banks, Wall Street, and us. Not sure what Bush did.