more of bush's economy

Senate Votes to Raise Debt Limit
WASHINGTON - The Senate voted Thursday to allow the national debt to swell to nearly $9 trillion, preventing a first-ever default on U.S. Treasury notes.

The bill passed by a 52-48 vote. The increase to $9 trillion represents about $30,000 for every man, woman and child in the United States. The bill now goes to President Bush for his signature.

The measure allows the government to pay for the war in Iraq and finance Medicare and other big federal programs without raising taxes. It passed hours before the House was expected to approve another $91 billion to fund the war in Iraq and provide more aid to hurricane victims.
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The debt limit will increase by $781 billion. It's the fourth such move — increasing the debt limit by a total of $3 trillion — since Bush took office five years ago.
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Democrats blasted the bill, saying it was needed because of fiscal mismanagement by Bush, who came to office when the government was running record surpluses.

"When it comes to deficits, this president owns all the records," said Minority Leader Harry Reid, D-Nev. "The three largest deficits in our nation's history have all occurred under this administration's watch."

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It is pretty incredible that in just 5 years bush took us from record surpluses to this!