CBS’ Mark Knoller reports that Barack Obama has set a new record for adding to the national debt, smashing the old one set by George Bush:
The latest posting from the Treasury Department shows the National Debt has increased over $2 trillion since President Obama took office.
The debt now stands at $12.6 trillion. On the day Mr. Obama took office it was $10.6 trillion.
President George W. Bush still holds the record for the most debt run up on his watch: $4.9 trillion. But it took him over four years to rack up the first two trillion dollars in debt. It has taken Mr. Obama 421 days.
But the Obama Administration routinely blames the Bush Administration for inheriting a budget surplus and turning it into years of record-breaking deficits and debt — and then leaving it on the doorstep of the new president.
Unfortunately, both CBS and Obama get this one wrong. Deficits don’t come from Presidents. They come from Congress, which passes budgets and sets tax policy. While the White House proposes budgets, Congress actually debates, modifies, and then passes them, usually with some resistance from the President.
Going back to the spending under Bush 43 help to set the catalyst to the Tea Parties. For far too long our government has been acting uncountable to the people. Partly that's the general population's fault as well and not voting incumbents out of office enough. And partly due to the fact that this is how Congress has been making laws for years and it's finally being seen by more and more people who want something different from the status quo.