The same day BND letter writer Gene Robke disputed some letters about the national debt, reporter Kevin Hall wrote that the debt rose from $3.4 trillion in 2000 to $5.8 trillion in 2008, during the Bush years. As a reminder, the gross national debt is the total amount we have borrowed and we owe our lenders.
Hall wrote that the national debt under President Obama went from $7.5 trillion in 2009 to $12.6 trillion in 2014. But that $12.6 trillion is our net debt, not what is owed the Social Security Trust Fund and the Federal Reserve Bank, so our actual debt in 2014 was $17.633 trillion.
Obama did inherit the “Bush budget” for fiscal 2009 and the total debt of $7.5 trillion, so that is on Bush.
Remember candidate Obama called Bush “unpatriotic” for having such a large debt and he knew the economy was in trouble and urged that we vote for him to fix it.
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I never disputed that Bush increased the debt over his eight-year term; my point is we are seeing a much faster rise in the national debt despite lower interest rates and no wars to fund. Bush increased the debt $5.6 trillion in eight years, Obama has increased it more than $9.5 trillion in six years with two to go.
Finally, I find it odd that a strong Democrat opposes Medicare Part D, which made many drugs affordable for seniors, but seems to have no objection to the costly Obamacare health care bill.