CBS's Mark Knoller Falsely Claims Debt Has Increased More Under Obama Than Bush. It isn't true. Mark ignores the debt level at the beginning of their respective terms and the nature of the economy during the two time periods. Bush had a decent economy with good revenues and debt increased by 89 percent. Obama had a bad economy with lousy revenues and debt increased by 40 percent. Bush is the one who went on a spending binge. Under Obama, spending has been tight. The bad economy wrecked the revenue stream that Bush had enjoyed.
Bush is an example of why Republicans are such an economic disaster. They talk like fiscal hawks but, once in office, they find ways to spend like drunks.
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