Doug Mataconis

Sunday, Oct 5, 2008

By the time he leaves office, George W. Bush will have increased the national debt more than any other President in American history:

With no fanfare and little notice, the national debt has grown by more than $4 trillion during George W. Bush’s presidency.

It’s the biggest increase under any president in U.S history.

On the day President Bush took office, the national debt stood at $5.727 trillion. The latest number from the Treasury Department shows the national debt now stands at more than $9.849 trillion. That’s a 71.9 percent increase on Mr. Bush’s watch.
But wait, there’s more:

The bailout plan now pending in Congress could add hundreds of billions of dollars to the national debt – though President Bush said this morning he expects that over time, “much if not all” of the bailout money “will be paid back.”

But the government is taking no chances. Buried deep in the hundred pages of bailout legislation is a provision that would raise the statutory ceiling on the national debt to $11.315 trillion. It’ll be the 7th time the debt limit has been raised during this administration. In fact it was just two months ago, on July 30, that President Bush signed the Housing and Economic Recovery Act, which contained a provision raising the debt ceiling to $10.615 trillion.

Of course Bush didn’t do it alone, for six years he had a Republican-controlled Congress that helped him do it. Because of both of them, the Republican Party has lost all credibility with the American voter as the party of fiscal conservatism. It will take a long time to earn that reputation back.

Thanks a lot, Mr. President. For nothing other than a boat load of debt.

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That being said, the Dems that went along like lemmings off a cliff are just as responsible.

it's 11.5 trillion, war.

the bailout, buddy. you forgot to add that in.


On Obama's watch, the National Debt will be over 20 trillion before he ever gets re-elected.

simple math and compounding interest settles that.

He has already eclipsed Bush and he hasn't done anything yet!?!?!?!?!?!

he doesn't have to, never did, and never will!

It's what he does.

cool, huh?

More like self serving DEMS who cry wolf & their knew jerk reactionary media pals' the sky is falling CAMPAIGN. So much for having anything to run FOR... it's the DNC carpetbagger show. Coming to a town near YOU.

... that's what's really sinking our economy.

Like DEMS had nothing to do with the budget...right! I got a bridge to sell yu if yu believe that one!!!

This debt is starting to get scary isn't it? Anyone that actually cared about this country and its well being would get organized and start cutting the spending dont ya think?

As always, i enjoy your posts War, keep em up.

The Iraq disaster has enriched Dubya's corporate friends and bankrupted the country morally and financially.

Not just Iraq. Its our whole foreign policy. The Iraq war is only part of our wasted spending. Pull troops out of everywhere. Stop dumping billions into third world countries. Stop doing the U.N.'s job. Bring all troops home and put them in charge of policing the borders. Do away with homeland security. Whew... That would save about a trillion or more a year i bet...

Stop printing money, reback the dollar. Audit the federal reserve. FYI, if our dollar was still backed by gold we'd be spending $1.20 for gasoline...

Oh yeah, dont forget about Bush's patriot act. Thats gotta go. And frankly he should be tried for treason for that.

"Voters are rightly furious at the proposal to spend $700,000,000,000 that the government doesn't have to bail out Wall Street bankers who created the current economic crisis in the first place. But why then aren't we concerned about the trillions of dollars the Federal Reserve is pumping into the system? Or the trillions missing from the Pentagon? Or the quadrillion dollar derivatives bubble."

http://www.youtube.com/watch?v=h9-tBGxVU6o

the FRB has to go.

period.

government spending and an obese government payroll has to go.

Drivin me nutz is right. lock and load at the borders.

and bailing out bad business is bad business.

The only presidential candidate calling for deploying National Guard troops to the border in a revolving cycle is Chuck Baldwin.

QS- If it was all Dems, then why didn't good ole Molech worshipping Bush just veto it?

Wouldee, thanks...I think... I did forget to add in the fact that the debt ceiling was raised yet again.

That was definitely interesting...