What is Bush going to do with the 9 trillion dollar national debt?

Question

Do you think that we should start dealing with all of our debt? Is this a forgotten about issue in the Presidential race? Isn’t this the biggest issue that Americans face in the future?

lillycoo,
Not one time did I mention the "deficit" in my question........I am talking about the "National Debt" NOT the Deficit.....

Answer 1

Yes, it is. And if left to the Republicans, the middle class will bear the majority of the responsibility for paying off the debt. And the corporations, who are making millions off of tax breaks given to them by the Republicans, will not pay nearly enough. Bush will do nothing about it except make it bigger! It will be up to whoever comes after him. We need to choose that person wisely...

Answer 2

so many of the answers to this question indicate how little people know about the economy and the shrinking deficit...

the deficit in
2004---$413 billion
2005--$318 billion
2006--$248 billion
2007--$205 billion

gdp%'s
2004--3.6%
2005--2.6%
2006--1.9%
2007--1.5%

As the mid-session review released yesterday by President Bush's Office of Management and Budget says, the 1.5% of GDP figure is well below the 40-year average of 2.4%. It's also smaller than the deficit was in the first three years of the Clinton administration. The deficit numbers would be even better but for the war, though it is costing only $12 billion a month.

Now is not the moment to become complacent about the deficit. The Democrats who control Congress are readying to spend with abandon on everything from government-funded health care for the children of the upper-middle-class to pork gussied up as "homeland security" grants. Not to mention that the Democrats are obstacles to confronting longer-term threats to budget balance, such as spending on Medicare and Social Security. The current surpluses in those entitlement programs mask the red ink that will start to flow once baby boomers retire and fail to be replaced in the workforce by the new immigrants that Congress is refusing to allow in and by the dangerously low rate of reproduction.

But neither is it the moment to panic about the deficit and do what Democrats want, which is to roll back President Bush's tax cuts. Those tax cuts have increased tax receipts, especially on capital gains, and the economic growth that they spurred has led to growth in tax receipts, and a shrinkage in the deficit as a percentage of GDP. The bottom line is that those like Mr. Krugman and Mrs. Clinton who accused the Bush administration of fiscal recklessness and plunging America into deep deficits were just plain wrong.

Answer 3

we would have liked to surrender in an prolonged time in the past. the way our government retains the books could land anybody else in penitentiary. Social protection,for instance,is financed with borrowed money.Wht?because of the fact the federal government spent sixty years spending the straight away sales from taxes that have been for Social protection on each and everything yet Social protection. the government has squandered money for the final sixty years,and now we stand close to to the worst economic disaster in historic previous.and anybody ignores it. and needless to say,we've have below me the common con fool chattering approximately con economics,which rather says to maintain spending,do no longer situation,and we are going to purchase our way out of situation.tell that to the a minimum of a million assets proprietors approximately to bypass abdomen up in this united states of america.

Answer 4

Take the money and walk out the door?
Seriously, I don't know. The annual interest alone is probably
greater than the annual GNP of 30 to 40 Third World countries combined. Scarey, huh?

Answer 5

Same thing that every deficit spending Republican has done, pass the debt on to our children to pay with billions of interest added.

Answer 6

he won't do anything UNTIL he's out of office. Then he will force his crony friends to call in their debts so that interest rates go sky high and the economy goes into the pits. that way they will ensure a republican gets elected the next time around in 2012.

Answer 7

He will pass it on to the Democrat that will replace him so his neocom cronies can blame the Democratic party for running up the national debt

Answer 8

He's just leaving it for the next president to clear up. And you're right. It's a huge issue. I don't think many people actually know how much a TRILLION dollars is.

Answer 9

He's going to show restraint, and only shoot for 12 trillion before he's out.

Great, the party I'm a member of is run by total idiots it appears.

Answer 10

he's gonna pass it on to the next President, just like Reagan and Bush Sr did. It's okay though. Bill is used to it.