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In 2001, when Bush was handed a $263 billion budget surplus, the national debt was $5.7 trillion. Today it is $8.7 trillion, for combination of reasons: rampant government spending, surprisingly low tax revenues and tax cuts, and the 9/11 attacks. http://www.nytimes.com/2004/10/15/politics/15debt.html (October 15, 2004)
Since Mr. Bush took office in January 2001, the federal debt has increased about 40 percent, or $2.1 trillion, to $7.4 trillion. Congress has raised the debt ceiling three times in three years, raising it most recently by $984 billion in May 2003.
U.S. National Debt Clock
1 May 00 - Clinton Announces Record Payment on National Debt (CNN)
4 Aug 99 - US to buy back National Debt, first time in 25 years (BBC)
7 Oct 08 - U.S. Budget Deficit hits record $438 billion for year (USA Today/AP) 7 Oct 08 - Opinion: National Debt passes $10 trillion, no one notices (Huffington Post) 29 Sep 08 - Bush Administration adds $4 trillion to National Debt (CBS News)
WASHINGTON, Aug 7 (Reuters) - U.S. Treasury Secretary Timothy Geithner formally requested that Congress raise the $12.1 trillion statutory debt limit on Friday, saying that it could be breached as early as mid-October.
"It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations," Geithner said in a letter to Senate Majority Leader Harry Reid that was obtained by Reuters. (Reporting by David Lawder; Editing Bernard Orr)
Quote:
Originally Posted by ZGACK
Agreed.
Suffice it to say my future plans involve me and my money living very comfortably somewhere else. Though my money will have likely been living there, where ever 'there' may be, long before I get there.
WASHINGTON, Aug 7 (Reuters) - U.S. Treasury Secretary Timothy Geithner formally requested that Congress raise the $12.1 trillion statutory debt limit on Friday, saying that it could be breached as early as mid-October.
"It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations," Geithner said in a letter to Senate Majority Leader Harry Reid that was obtained by Reuters. (Reporting by David Lawder; Editing Bernard Orr)
What I'd say is the idiot frat boy and his handlers ran up 10 trillion while they screwed the pooch. Unfortunately their moronic supporters are too clueless to comprehend this
What I'd say is the idiot frat boy and his handlers ran up 10 trillion while they screwed the pooch. Unfortunately their moronic supporters are too clueless to comprehend this
Ok, so given that, don't you think the prudent thing to do is start trimming the fat in government spending to get us back in line ?
Ok, so given that, don't you think the prudent thing to do is start trimming the fat in government spending to get us back in line ?
Are you familiar with Herbert Hoover? How about his predecessor, Warren G. Harding? And Hoover's successor, Franklin D. Roosevelt?
All took differing approaches to economic recession/depression.
Pay special attention to how FDR rebuilt America. And remember that Warren G. Harding was considered by many (prior to George W. Bush, of course) as being America's most corrupt President
We could have recoverd from the Bush admin. spendathon. But given theaccelerated spending and growth in spending of this administration and its open antipathy towards business, added to the Bush admin's spending I don't see any alternative than the eventual financial collapse of the US gov. We probably have five more years of this then the floor falls out.
Are you familiar with Herbert Hoover? How about his predecessor, Warren G. Harding? And Hoover's successor, Franklin D. Roosevelt?
All took differing approaches to economic recession/depression.
Pay special attention to how FDR rebuilt America. And remember that Warren G. Harding was considered by many (prior to George W. Bush, of course) as being America's most corrupt President
In 2001, when Bush was handed a $263 billion budget surplus, the national debt was $5.7 trillion. Today it is $8.7 trillion, for combination of reasons: rampant government spending, surprisingly low tax revenues and tax cuts, and the 9/11 attacks. http://www.nytimes.com/2004/10/15/politics/15debt.html (October 15, 2004)
Since Mr. Bush took office in January 2001, the federal debt has increased about 40 percent, or $2.1 trillion, to $7.4 trillion. Congress has raised the debt ceiling three times in three years, raising it most recently by $984 billion in May 2003.
U.S. National Debt Clock
1 May 00 - Clinton Announces Record Payment on National Debt (CNN)
4 Aug 99 - US to buy back National Debt, first time in 25 years (BBC)
7 Oct 08 - U.S. Budget Deficit hits record $438 billion for year (USA Today/AP) 7 Oct 08 - Opinion: National Debt passes $10 trillion, no one notices (Huffington Post) 29 Sep 08 - Bush Administration adds $4 trillion to National Debt (CBS News)
i noticed that you stopped the debt clock once you got to obama.
According to the Treasury Department, which updates the number "to the penny" every few days, the national debt was $11,518,472,742,288 on Wednesday.
The overall debt is now slightly over 80 percent of the annual output of the entire U.S. economy, as measured by the gross domestic product. oops, looks like it went up:
I don't know about you all, but I am getting sick and tired of hearing about the debt increased by the Bush administration. I sure as hell did not like it! But my 2001-2008 tax returns have long ago been turned in . . . so how about we deal with the PRESENT.
It strikes me as really odd that there seems to be a segment of the public who were so upset over the federal deficit while GWB was in office, but dont seem to give a flip about the deficit O has created - and is adding to with his healthcare and cap& trade legislation - as well as the bailouts - and the cash for clunker programs.
I guess deficit just doesn't COUNT unless it is occurred during a GOP administration.
Good grief.
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