CBS News reports that Barack Obama has overseen the addition of $4 trillion in new debt — the fastest racking-up of debt by any president in history.
Well, let’s take a little stroll down memory lane. All the way back to the presidential campaign, when then-candidate Obama was running against the legacy of George W. Bush. Back when Barack Obama saw trillions of dollars in new debt not only a bad fiscal policy, but downright unpatriotic.
Here’s the transcript:
The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.
Unpatriotic, he says. Except while Bush added $4 trillion over his 8 years, Barack Obama has added more than that just from January 2009 until now. And he still has from today until January 2013 until his first (and hopefully only) term is completed.
So if adding $4 trillion to the national debt over 8 years in unpatriotic, why isn’t adding the same amount in a much shorter period of time equally unpatriotic?


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[...] like George Bush racking up $4 trillion in debt over 8 years is “unpatriotic” but Obama adding $4 trillion in 2 1/2 years is saving the country and being all around [...]
[...] like George Bush racking up $4 trillion in debt over 8 years is “unpatriotic” but Obama adding $4 trillion in 2 1/2 years is saving the country and being all around [...]