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259 Comments
- funkedup, on 01/07/2009, -8/+47If you think Bush is solely to blame, think again. Our whole government is at fault and so are its people. The Democratic House and Senate and their recent approvals of measures that people thought were the Republicans bidding did not help either. Both parties have failed us and Obama will only exasperate the problem by over spending and trying to keep assets at an artificially high price, when its clear that the market wants it to come down. In the coming year we will see a very high level of inflation, which no one in Washington has even begun to talk about.
- novenator, on 01/07/2009, -15/+50Many months ago some people asked who would *want* to be president next term. They would inherit massive debt (exceeding 10.5 trillion), a budget deficit of almost 1 trillion, skyrocketing unemployment, the worst crash of the stock market since the Great Depression, a foreclosure catastrophe beyond the Reagan years in the early 80s, petroleum instability, the 60 cent dollar, massive outsourcing (thanks Wal-Mart), etc. etc. etc.
Obama stepped up to the plate, understanding very well that things are tough and going to get worse. However, we are not on a sinking ship, we can work together to help each other to get out of this mess, but ONLY if we work as a team. This will require sacrifice and diligence by us all, but in the end, if we are bold enough to do it right, our country will be better off in the long run. - Jericho6, on 01/07/2009, -1/+32How much would anyone give us for Guam?
- pathouston22, on 01/07/2009, -4/+35Did Congress approve of Iraq war? Check.
Did Congress approve of Bailout? Check.
Thanks a lot Bush! - Barackalypse, on 01/07/2009, -2/+30Don't forget Congress is complicit as well, if they hadn't voted yes on these budget proposals, Bush couldn't have signed them. Obama should be sharing the blame right along with Bush, given he voted for the $700 billion bailout and a whole bunch more spending proposals while he was in Congress.
- Travelpilot, on 01/07/2009, -17/+38The task ahead of Obama to clean up the mess left behind by Bush would have to be overwhelming, I wish him all the luck.
- TravelBizMaster, on 01/07/2009, -8/+27Obama is planning to sign a $1 Trillion spending bill his first day in office, and these are the people who were whining when the deficit was approaching $400B. Gimme a break!
- existentialduck, on 01/07/2009, -37/+55thanks a lot bush
- Barackalypse, on 01/07/2009, -6/+24Yeah, Obama is such a hero for running to clean up a mess he helped create. You do know COngress has to vote on all budgetary proposals, right? You do know that the Democrats have controlled both houses of Congress for the entire year, right? You do know Obama voted for the $700 billion bailout and the Iraq war funding resolutions, right?
- charlesray, on 01/07/2009, -2/+17Let's say ***** it, buy some waterslides, and go out in style.
- sgtbutterscotch, on 01/07/2009, -0/+14I've got 10 bucks. Who wants in?
- garryw, on 01/07/2009, -6/+20The legislative branch writes the budget actually, in fact, the budget itself is legislation.
shhhhhh.. keep it a secret. Dont want digg getting all edumacated now. - kpsfire, on 01/07/2009, -6/+20Dugg for truth.
For perspective, that's 100 million of these: http://www.pennylicious.com/images/2006-09/10-gran ... - Barackalypse, on 01/07/2009, -3/+16It absolutely should if you voted along with Bush on spending the money while you were in Congress, and I know for certain Obama voted yes on a $700 billion bailout. Also, you did catch the part where one of Obama's big priorities is to pass a $775 spending and tax-cut bill, so you really can't tell me he's distancing himself by doing exactly the same things Bush did.
- barryiggins, on 01/07/2009, -0/+12wish him all the luck you want, but the burden is pretty much on our backs.
- ccL1, on 01/07/2009, -0/+12China is licking it's chops at the prospect of buying hundreds of billions of dollars of secure US treasury notes.
- arlok789, on 01/07/2009, -1/+12Obama has a problem on his hands. He can try to revive the economy with the same bad policies that accelerated growth and caused the housing bubble or he can stop printing money, stop spending, and cause a massive economic crash that allows us to hit rock bottom and start paying down the deficit.
While the latter is much worse in the short term, its the right thing to do if we want America to be anything more than a pathetic and burnt out husk of it's former self 50 years from now. Hopefully Obama will be able to see that making a lot of people very angry in the short term is worth it.
Its just like a person who has tons of credit card debt. Do you spend time living frugally and pay it off, or do you keep spending to cover up your problems before you go bankrupt and lose everything. Lets pay it off please so we can rebuild. - inactive, on 01/07/2009, -7/+18Obama says yes to ALL bailouts, All tax rebates, all tax credits. Check his record. The real Bush successor won all right. All hail King George III
And if you think that is bad just you wait till he releases even more money borrowed from China. Yeah our biggest creditor. They just surpassed Japan in that field.
He will make the Iraq War cost seem like a piss in the ocean.
Be afraid.
Change you can believe in?
Better start practicing your mandarin - FearlessFreep, on 01/07/2009, -3/+13"clean up the mess left behind by Bush"
Bush is leaving, congress is staying - Barackalypse, on 01/07/2009, -6/+16You seem to overlook Congress here, and you also seem to overlook that a certain President-elect voted quite recently to spend $700 billion on a financial bailout. Blame Bush, absolutely, but also blame everyone that voted to get these spending resolutions to his desk in the first place. Congress is complicit.
- anthropodeus, on 01/07/2009, -1/+11exactly. remember how the democrats secured a majority in order to end the iraq war? they did no such thing. your politicians dont give a ***** about your tax dollars.
- elnerdo, on 01/07/2009, -4/+13Why is this always Democrats vs. Republicans? It's both of their faults, and in fact, it's the fault of every single person who voted Democrat or Republican.
If you voted Democrat or Republican for Congress or Senate, then America's problems are YOUR fault. Don't try to pass the blame. - azhura, on 01/07/2009, -0/+9Can we sell Puerto Rico while we are at it? They get all of the benefits and no taxation. ***** that.
- garths, on 01/07/2009, -0/+9I thought we were going to cut taxes, increase spending, reduce the deficit, and all get hand-jobs from Jessica Alba?
- RedHeadedFreak, on 01/07/2009, -4/+13How could it? The Democrats have actually gained power in Congress. Which, logically, should mean the economy problems will get worse.
But nothing I say will matter. Bush this, Fox News that. Digg is a broken record. - TravelBizMaster, on 01/07/2009, -9/+17It's amazing how all you Bush haters ignore the fact that Democrats have controlled congress for the last 2 years and are the ones that have passed all these spending bills over the objections of Republicans.
- inactive, on 01/07/2009, -0/+8Don't forget to add Afghanistan.
- BinaryDelt, on 01/07/2009, -1/+9The National debt is over $10 Trillion. This is talking about the budget deficit, or how much more the government is planning to spend than is coming in. 2008 had a budget deficit of about $455 Billion, the previous record I believe.
- radu79, on 01/07/2009, -7/+15No, thanks a lot Obama!
Wasn't he talking about a balanced budget and stuff like that? And now he will more than double Bush's biggest deficit..
While the situation in the country is partially due to Bush (but still, under a Democrat congress), it is him who can make cuts in the budget. Of course, being left wing he is not going to cut much money at all, and instead add all kind of new expenses.
This wouldn't be such a bad thing if the country was swimming in unused dollar bills, but with 10+ trillion debt, it is criminal to add another trillion on top of that. - brstilson, on 01/07/2009, -7/+15Leave Iraq immediately: that saves $150 billion per year right there.
What do I win? - sodade, on 01/07/2009, -3/+11Legalizing Cannabis is not a tough choice. It is low hanging fruit and a total no-brainer. I have yet to hear a valid argument for continued prohibition.
- TheHayze, on 01/07/2009, -0/+7I think Russia might want in on that bidding war.
- Smuikas, on 01/07/2009, -0/+7Except those bad people came from a very bad group of more bad people in Saudi Arabia, and were trained in Afghanistan.
- hiphopjon, on 01/07/2009, -1/+8then stop the bailouts! (and don't print loads of money)
recessions are good! forces bloated companies to slim down so they can make profit again. its the natural cycle of a free economy. - wizzler, on 01/07/2009, -12/+19Lets hope America can recognize (despite Fox News' efforts) that with a transfer of power should not come a transfer of blame...
- inactive, on 01/08/2009, -0/+7Thanx allot Washington
Fixed - rrife, on 01/07/2009, -0/+7You just can't offer it like that, it's best to use eBay & PayPal w/ seller protection....we can't afford to get screwed out of any more money.
- FearlessFreep, on 01/07/2009, -1/+8Wait....talks about 1 trillion dollar deficit.
talks about working out a $775 billion dollar deal for spending and tax cuts
talks about 'tough choices' and 'sense of responsibility'
Huh?? - DaDrake, on 01/07/2009, -2/+9In reality, Bush has nothing to do with the credit crunch. Most of the policies leading to the dangerous lending has been bipartisan; you lower standards for government insured loans, give mandates for pseudo-private corporations to engage in risky loaning, threaten fiscally-conservative corporations with removing their FICA insurance through the CRA...... etc ..... you get an economy more unstable then a heroin addict.
And has Obama criticize Greenspan 2.0 (aka ... Bernanke) for devaluing the US dollar? nope... he has praised him.
I am really think that its better for Democrats to be the president and Republicans to be in control of congress. Why? When republicans are in charge of the white house, they like to take on debt in stead of increasing taxes. But when republicans are in charge of congress, they are really good at voting against unnecessary spending.
But no .... don't let me correct you're delusion that one man, a man who doesn't even set the budget, is responsible for all the world's ills. - DooM, on 01/07/2009, -0/+7He didn't vote against the war - he wasn't in office then. He -was- AGAINST it, however.
- inactive, on 01/07/2009, -5/+11I sincerely hope the wake up call to leave the Middle East comes sooner than later.
How can we justify any outcome in Iraq and Afghanistan when it's part of the reason we are going bankrupt? We need to leave NOW. - csstudent, on 01/07/2009, -0/+6This is a problem caused by both Republicans and Democrats. Unfortunately, they won't do anything about it until it's too late.
- Uthman, on 01/07/2009, -6/+12CUT FUNDING TO ISRAEL
How's that for a "Stimulus" Plan?
Total U.S. aid to Israel is approximately one-third of the American foreign-aid budget, even though Israel comprises just .001 percent of the world's population and already has one of the world's higher per capita incomes.
http://www.wrmea.com/html/us_aid_to_israel.htm
We are giving Israel about $10 Million a DAY to purchase weapons and systematically ethnic cleanse a population. NOT how I want MY tax dollars spend, Thanks
I want to open this up as a discussion on digg because I am not familiar with due process of law; suppose that we, the citizens of the US, wanted to propose a new bill which would limit the amount of foreign aid to Israel to something more reasonable -- say 50% of what it currently is. The remaining 50% would be split evenly over Education, Healthcare and Tax-Cuts. What would be the procedure to go about making such a change? - fullzer0, on 01/07/2009, -0/+6He wasn't even a elected to the senate to vote in the Iraq war. Joe Biden was. He voted for it. Oh and Clinton voted for it too. http://www.senate.gov/legislative/LIS/roll_call_li ...
- arlok789, on 01/07/2009, -3/+9There are two components to this crisis that we have to keep in mind. The government and overall economic output.
In 2003, Bush tried to repeal the legislation that was forcing predatory lending, which if you remember correctly, caused the housing bubble and started all of this. He was stopped by senate democrats. He also invaded Iraq in 2003 which kind of overshadowed his economic sensibility.
So while Bush is responsible for massive deficits, (lets not forget that congress controls spending and allocate blame there as well...) he is not responsible for the credit crisis which is what caused the contraction in economic output.
Imagine that the government is a family and each political party represents a husband or a wife. The Democrats did something stupid at work and got fired while the republicans were racking up huge credit card bills buying flatscreen TVs. Saying that the crisis is all Bush's fault is stupid. The entire government screwed up and I fear that ever larger deficits and uncontrolled money printing will fix nothing. - RedHeadedFreak, on 01/07/2009, -2/+8It's not really amazing considering the bulk of digg.com political comments revolve around asinine knee jerk reactions.
- scoottie, on 01/07/2009, -2/+8and obama will and another trillion with his welfare .... er i mean "stimulus" plan
- funkedup, on 01/07/2009, -2/+8I agree, but people look at this problem and want to point blame at one person or one group when so many people and so many groups are at fault. Our government has been on the wrong track ever since world war 2 ended and the problem is much deeper than the democrat vs republican travesty. Bush was part of the problem and a bad president...no one is debating that. but to say he was the main reason for these deficits and recessions is just not true.
- inactive, on 01/07/2009, -2/+8In four years, the unemployment will be in double digits, and Bush fondly remembered as a fiscal conservative who protected the country from terrorism.
- Spoomeister, on 01/07/2009, -1/+6Well, ***** my credit card debt now. I mean, if the government can deficit spend like this, I can too.
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