Frontline Explains The Nation's Debt

Obama often talks about what he inherited. Well, Frontline says he inherited so many problems that it's a wonder he even wanted to be president. We've borrowed from everyone. We borrowed from China to pay for the Iraq war, while Bush cut taxes for the wealthy--one of the largest tax cuts ever. The Bush administration used reconciliation to cut taxes and Dick Cheney cast the deciding vote.

Bush pushed through Medicare part D (a prescription drug benefit) without a way to pay for it. It's projected to cost $8 TRILLION over time. Hello!

This video explains who did what when it comes to the national debt. Economist Greg Ip said Bush put politics ahead of economics. I would say that describes republicans perfectly. Republicans put politics ahead of everything. At the end of this video, you'll have an idea of the breadth of the problems Obama faces. This video is about 50 minutes but I highly recommend it. It is eye opening: