Debt crisis: How did we get into this financial mess?

QUOTE from John Barrymore: "If ir isn't the sheriff it's the finance comapny. I've got more attachments on me than a vacuum cleaner."

I LEARNED from the newspaper (AP article) how the debt grew from $5,8 trillion in 2001 to its current $14.3 trillion.

When Bill Clinton left office on January 20, 2001 we had a balanced budget, a half trillion dollar surplus and were paying down the national debt, So what has happened? According to the article in the Cedar Rapids Gazette the reasons for the astounding increase are as follows:
1. The 2001 and 2003 tax cuts under George W. Bush cost $1.6 trillion.
2. Addidional interest costs were $1.4 trillion.
3. The wars in Iraq and Afghanistan have cost $1.3 trillion so far.
4. The economic stimulus package under President Obama cost $800 billion.
5. The 2010 tax cuts, a compromise by Obama and Republicans that extended jobless benefits and cut payroll taxes cost $400 billion.
6. The 2003 creation of Medicare's prescription drug benefit under Bush cost $300 billion.
7. The 2008 Wall Street bank bailout under Bush cost $200 billion.
8. And there has been hundreds of billions less in tax revenue than expected since the Great Receccion began in December of 2007.

Okay, that's what the article said,  What do you think?

HUMOR for today: TURTLE EXERCISE PROGRAM.- HEALTH MESSAGE,

1. IF WALKING/CYCLING IS GOOD FOR YOUR HEALTH,THE POSTMAN WOULD BE IMMORTAL.
2. A WHALE SWIMS ALL DAY, ONLY EATS FISH, DRINKS WATER AND IS FAT.
3. A RABBIT RUNS AND HOPS AND ONLY LIVES 15 YEARS.
4. A TORTOISE DOESN'T RUN, DOES NOTHING...YET HE LIVES FOR 450 YEARS.