One Australian wingnut suggested that healthcare was the problem; but I’d say it was the actions and policies of G.W. Bush.
$87 billion, with person and car for scale
The $87 billion page shows what the $87 billion dollars asked for by Bush and the $315 billion dollars spent on Iraq and Afghanistan by mid-2006 would look like if stacked up.
U.S. dollars arrive in Iraq, 2003
And here’s the story of the U.S. under G. W. Bush sending U.S. $12 billion in shrink-wrapped $100 bills to Iraqi ministers and the notorious contractors. That’s 362 metric tons or about 400 U.S. tons. The U.S. doesn’t know where it went or who got it. That was in 2003:
The US flew nearly $12bn in shrink-wrapped $100 bills into Iraq, then distributed the cash with no proper control over who was receiving it and how it was being spent.
The staggering scale of the biggest transfer of cash in the history of the Federal Reserve has been graphically laid bare by a US congressional committee.
In the year after the invasion of Iraq in 2003 nearly 281 million notes, weighing 363 tonnes, were sent from New York to Baghdad for disbursement to Iraqi ministries and US contractors.
President Obama is not responsible for the 8 years of mismanagement and overspending overseen by Bush, and the $800 billion bailout started by Bush after letting the dogs of Wall Street run mad was probably the only way to prevent a worldwide Great Depression. If anyone has bankrupted the U.S., it was the Republicans and their profiteering hangers-on.