The election is already over and here I stumbled onto a video I found which explains better than any other source exactly what policies are causing our enormous national debt. I already was aware of the facts, but this lays them out well. You may be surprised which political party’s policies are primarily the cause of the national debt. Watch the video below.
George Bush almost single-handedly turned a projected six trillion dollar budget surplus into a 6 trillion dollar deficit from 2002-2011 (as the video demonstrates). One might argue that the 25% reduction of revenues due to the economy is more complicated and can’t simply be blamed on Bush. Fair enough, though I think one could easily argue that the economic crash was caused in large part due to deregulation of the financial sector via the repeal of the Glass-Steagal Act which was a true conservative regulatory move among other things.
Then there was the stimulus which accounts for a fraction of what has been added. Conservative talking heads love to point out that the debt has grown by 4 or 5 trillion since Obama took office but they never explain which of his policies actually have created this new debt… and that’s because they can’t. Obama’s policies have not created more debt. Inform your friends. Please share this article on Facebook and Twitter.
Justin is the publisher The Nevada View, which has earned the recognition in the Washington Post’s “Best State-Based Political Blogs,” as well as being awarded the “Most Valuable Blogger Award” by the local CBS affiliate in 2011. Follow him on Twitter @McAffee