[Tolerance Sucks Rocks]

PING!

[datura]

It was all done by design of America’s enemies in the true deep state. The real estate world was decimated by loose lending under Bush to get Obama into office.

Then Obama did his best to finish us off.

[DoughtyOne]

2010s? Don’t look now but our national debt doubled in the first two terms of George Bush too.

[P.O.E.]

Three words:
O Ba Ma

[CodeToad]

It’s what happened when Obama ran the economy into the ground and people used credit to survive.

[DannyTN]

You need to look deeper. The backdrop of the 2008 financial crisis was:

• decades of low tariffs and offshoring of American jobs and industries, weakening the economy.
• an oil price shock in 2007. We did very little since the 1970's to avoid another oil price shock.
• A gulf war on terrorism that resulted in nation building and trillions of dollars in expenditures. Regime change was appropriate, but we should have used the oil to reimburse us.

Using fiscal stimulus wasn't a horrible idea, had it been executed correctly.

• Unfortunately much of it was spend funding Obama's handlers and creating new government jobs instead of building infrastructure.
• And while the stimulus was sold to the US as a one time cost, it was rolled into the budget the next year so that it continued indefinitely.
• In addition. George W had kept the war costs accounted for separately. Obama rolled them into the budget so that they also continued indefinitely.

[fhayek]

$23 trillion? That is SOOO January. It’s more like $25.5 trillion now.