"The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents -- #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic."
CBS News, August 23, 2011:
The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama's watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It's the most rapid increase in the debt under any U.S. president.
The national debt increased $4.9 trillion during the eight-year presidency of George W. Bush. The debt now is rising at a pace to surpass that amount during Mr. Obama's four-year term...The Gross National Debt now stands at 97.6 percent of the nation's Gross Domestic Product - the total value of goods and services produced by labor and property in the U.S.
$30,000 for every man, woman, and child. Care to guess how much it is now?
Never mind. you don't WANT to know.
With thanks to James Sharp.
1 comment:
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