Unemployment rate when Bush left office in January 2009: 7.8 %. Unemployment rate currently under Mr. Obama: 7.8 %.
In 2001, the national debt Bush inherited was around $5.7T, give or take. Some of that debt in 2001 has to be attributed to Clinton, just as some of the debt in 2009 when Obama took office must be attributed to Bush. When W. left office in 2009, the debt was nearly $11T. That’s an increase of 89 percent.
Under Obama, the debt has increased from about $11T to about $15T, or an increase of about 40 percent. Also, the economy has grown, after it retracted during the lesser Depression, and it will continue to grow.
And what’s behind that increase? Two unfunded wars, historically low taxes, thanks to the Bush tax cuts of 2001 and 2003 and historically low revenues due to the worst financial crash since the 1930s. All part of the aftermath of Mr. Obama’s predecessor. Yes, Mr. Obama has added to the national debt, due to the spending made necessary to attempt to fix the disaster of the previous White House occupant. One of the biggest differences between the two fiscally is the black guy has already cut future spending by $1.5 trillion over the next decade and is trying to raise taxes to help reduce the national debt.
Considering my generation is still paying off WWII, debt is something that gets passed along from citizen to citizen. As do obligations. Like paying retired police officer pensions and teacher salaries and health plans and pensions.