Wow.. Way to go there Obama: Great job! Talk about a miserable failure. Wow. In the interim however, they will just continue to explore and implement new ways to add to it instead. Now that there my friends is the change we can all believe in. Not bad for a paltry 9 months in office. I wonder if Nobel has a prize for "dumb ass", cause Obama'd be getting it!
What did you expect? Obama would just wave his magical wand and the economical crisis would be over? Get real. Get your money out of the bank and put it under the mattress.
No, a democrat led congress ushered that crap in. Either way, I fail to see how tripling that stupidity makes any more sense.
My unpopular view is that the 2009 jump is not a singularity, but the beginning of a steep downfall. It is coming from the fundamental illnesses of the american economy and unfortunately I think that it will worsen in the next years. Maybe its hard to understand but the truth is that this crisis was an American crisis, and not a global crisis. It was the first tremor, the big tsunami is still ahead. Apart for the "illnesses" mentioned above and below, another main factor for this are the Chinese which artificially control the value of the yuan (something that its amazing that the americans did not demand them to stop doing!) the easily accumulate foreign currency. Their foreign currency reserves is at a staggering all time record. When the Chinese will wait for the right moment and change their ball game (allowing exchange rates to be determined by demand & supply), this will be the official beginning of the true financial collapse of the USA. With the USA in debt and China filthy rich, they will eaisly outbid any American price offer on the world resource. The cure: Americans should change the way they think about money. Spending more than you earn? not more! It should not matter anymore how much Americans are buying (=spending money they don't have, as the current ill situation is), but how much Americans are producing (=earning money) and how can they compete with the rest of the world.
This is BS. The deficit was already set to be 1.2 trillion in 2009 when Obama took over. Just more right wing lies. Stop it. And as you'll notice your chart, we went from Clinton's surplus to a deficit under Bush.
You are correct That, of course, is what Georgie Porgy had to say back in 2008 in support of his $700 billion bailout package. But don't worry, a few years of double digit inflation will cut the value of that debt down to something more manageable. Inflation in general, and hyper-inflation in particular, is well known for redistrbution of wealth and income. There is certainly no need to let the government do it when "free" markets do it so much better. Mia, et. al., there is more than enough pain to go around here, and more than enough blame as well. Chaos has provided some of the more lucid thoughts on this subject.