Nation’s spending out of line — Free spending big government Republicans are breaking the country. After all the talk about fiscal responsibility and small government from these guys, this is what they give us.
Last month, the national debt reached yet another miserable milestone, passing the $8 trillion mark for the first time. As of last week, the United States was $8,084,858,891,735.31 in the hole, according to the Treasury Department.
Here is the depressing stuff you should now consider before the 2006 elections:
In fact, Bush has borrowed more money — $1.05 trillion — from foreign governments and banks since taking office than all other presidents combined.
From 1776 to 2000, the nation’s first 42 presidents borrowed a combined $1.01 trillion from foreign interests, official statistics show. In just five years, Bush has out-borrowed them all.
>With the exception of Carter, Democratic presidents have been much >better for the economy
Kennedy was more conservative than Nixon, and proposed tax cuts which passed under Lyndon Johnson. Clinton signed a capital gains tax cut among other things in 1997. Blaming tax cuts is weak, as revenues are growing. Even on spending, Newt Gingrich and company passed serious spending cuts, and all they got was blame for shutting down the government. Recently the House and Senate voted on spending vuts of $50 billion, and it was almost all Republicans voting for it.
Tax cuts pay for themselves if they generate enough new economic growth to pay for the debt service on the lost revenue. If the overall economy is growing, then the deficits will take care of themselves. That’s what happened when Clinton was president as the balanced budget 7 year spending guidelines were never met.
Ima,
It takes a big man to admit when he’s (was) wrong. Too bad 95% of the other Bush voters are just like Bush himself and will never admit they were wrong. To the rest of the Republican voters who thought (and still do think) that it would be a good idea to give the entire government over to ONE single political party….this is the result you dumbasses!
Since corporate America owns our government with all their paid for custom laws, they should pay for this…although we ironically know that most of them don’t pay sh!t.
The worst part of this debt load is what do we now have to show for it? Imagine if a competent and honest President was given this amount of money to actually benefit this country’s infrastructure.
You guys just don’t get it. We are allready broke. The day of reconing will come through inflation or Depression. When 30 % of our people are out of work who will pay the taxes? How will we feed ourselves?