don't blame it all on the american people - the invisible hand of the free markets drove the real estate market pricing...the usa is a consumer society, and consumers want...the system failed, not the people

president bush thought it was a great idea for people who can't afford houses to buy houses, and was still pimping that policy in may 2008:
2002:
President Hosts Conference on Minority Homeownership
2008:
George W. Bush: Proclamation 8263 - National Homeownership Month, 2008

the banks thought it was a great idea to issue mortgages to people who couldn't afford homes...they made billions off mortgages when things were good, and they made billions more when things were bad and the taxpayers bailed them out

but that isn't why the national debt is $10.2 trillion

the national debt rose by $1 trillion during the year ending september 30, 2008
maladroit Reviewed by maladroit on . national debt guessing game how much has the national debt changed over the past year? how about just the past three weeks? no peeking: make a wild guess off the top of your head **HINT** it went up Rating: 5