History of the National Debt 1776 to 2004
And then in 2008 Bush and the banking industry on Wall Street left Obama with a financial crisis and the debt soared even higher in an effort to fix Bush's incompetence.
Followed by banks giving their CEOs and top execs record year end bonuses.
When the Obama Administration tried to punish those banks for fraudulently abusing the bailout money given to them, it was already too late.
But hopefully now the American people have learned that the banks cannot be trusted. Next time the banks start claiming doom and gloom, I say let the banks fail... And then create a new government owned bank that manages mortgages for Americans - and skip the middlemen bankers with their greedy paws out.
That or cut off all government funding for mortgages and credit. Let the banks come up with their own sources of credit.