Our friends on the left like to argue that it was George Bush that created our large sovereign debt. Yes debt grew extensively during the Bush Presidency, and W wasn’t exactly a spendthrift. It is helpful, however, to look at what part of the Bush Presidency the debt started to skyrocket. Hint: it’s not during the Republican controlled Congress.
The debt started to skyrocket almost the instance that Nancy Pelosi became speaker and Harry Reid became Senate President. In the first six years of the Bush Presidency the debt went up around $2.7 T, in the six years that followed the debt went up $6T a significant increase.
To put it in perspective, the debt limit increase just agreed to is greater than the entire debt growth during the first six years of the Bush Administration. This is not Bush’s fault. It’s the Pelosi-Reid-Obama regimes.
No matter which way the left tries to spin it, runaway debt is their creation, not ours. They also like to say the recent debt negotiations were a “manufactured crisis”. They were a crisis only if you believe in Big Government. They were not a crisis if you believe in limited government. In fact they were a much needed conversation to discuss the size and scope of government. A conversation we somehow blew.