Let me begin by declaring that, yes, Bush, too, was a profligate spender. Under Bush during Republican spending control from 2001- 2006, Republicans added $2.8 trillion to the debt. Under Democrat spending control, from 2007- 2008, Democrats added, another $2.2 trillion IN ONLY TWO YEARS.
BUT, under Obama the spending train has accelerated out of control. Under the combination of Obama's grandiose spending, and Democrat refusal to pass a budget, from 2009-2011, the Democrats have added another $5.4 trillion to an already bloated debt.
Here is some sobering math;
The GDP of the entire world in 2011 was $65 trillion. Our debt is equal to 24% of that. This means that just for us to maintain our debt, the rest of the world needs to agree to spend 24% of their combined GDP on keeping us alive. BUT it gets better. Obama's 2013 budget proposal called for 656 new spending programs adding another $533 billion in new spending, and another $11 trillion in debt over the next ten years. And this is assuming that his $1.5 trillion in tax hikes on EVERYONE gets approved.
This reckless proposal puts every man, woman, and child in America in danger. Should interest rates rise just 2% above their current artificially retarded 1.7%, the interest on our current debt, will increase to $788 billion per year. This will crowd out other spending effectively turning us into Greece.
Who called this LEADERSHIP?