Odessa

Double Whammy: 50-Year Record on Sept. 22. $10 Trillion on Sept. 30, 2008.
The gross national debt compared to GDP (how rich we are) reached its lowest level since 1931 as Reagan took office in 1981. It skyrocketed for 12 years through Bush senior. Clinton reversed it at a peak of 67%. Bush junior crossed that line on Sept. 22 and hit 69% on Sept 30. That's the highest it's been since 1955. (sources)
Bush did three things to skyrocket the debt from $5.7 trillion to $10 trillion:
1. He lowered taxes on the rich (by far the biggest item).2. He invaded Iraq instead of winning in Afghan-Pakistan (another $600 B).3. He deregulated Wall Street speculators. That bailout has now "invested" $1T