During the presidency of George W. Bush, debt held by the public increased from $3.339 trillion in September 2001 to $6.369 trillion by the end of 2008. In the aftermath of the Global Financial Crisis and related significant revenue declines and spending increases, debt held by the public increased to $11.917 trillion by the end of July 2013, under the presidency of Barack Obama. …
More important is the increasing of debt/GDP.
G.W. Bush was the worst President ever in his second term.
Obama was the second worst President ever in his first term. … Of course Obama had to take over the mess left to him on G.W.’s watch.
In any case, regardless of which Party wins the Presidency of the USA, I can’t see how the USA can ever repay that debt. They cannot grow the economy enough (as they could after WW II). And they cannot pay it back.
Something will happen.
Default?
