Post by Oscar Knight on Apr 30, 2010 11:32:17 GMT -6
Obama already has overrun and overshadowed the soaring budget deficits and record debt that Bush ran up while he was cutting taxes, launching two wars and expanding Medicare to cover prescription drugs. Gross federal debt in fiscal 2001, Bush's first year as president, was $5.7 trillion ; it was $9.9 trillion in fiscal 2008, his last full year. Obama's budget projects that the gross federal debt will be $16.3 trillion at the end of fiscal 2012, the last full year of his first term.