Thread: Bush's Parting Gift: Trillions in Debt, Economy in Chaos

The Bush Legacy Part II: Trillions in Deficits For Years to Come

Tuesday, January 20, 2009 7:46 PM

Newsmax.com Editorial

As Barack Obama assumes the mantle of the presidency and duties of the office, he has inherited from his predecessor a federal government that has a staggering national debt of over $10 trillion, a ballooning federal deficit this year estimated at $438 billion – and a government that recently assumed responsibility for some $5 trillion of the nation’s consumer debt.

The irony is that George W. Bush, who billed himself as a conservative in the mold of Ronald Reagan, leaves a legacy of profligate federal spending, record debt and an economy in shambles.

A broad range of conservative thinkers, surveying the political and economic fallout of the two Bush terms, are openly voicing their concerns that it may take years for the Republican party and the nation to repair the damage Bush policies have inflicted.

“Bush has added a staggering $32 trillion to unfunded government liabilities future generations of Americans will have to bear,â€

"we've only just begun...."

Bush didn't do it all alone. He had lots of help. Unfortunately I too believe it will only get worse. My suggestion...quit your job and go on welfare.