When the Democrats regained control of Congress on January 4, 2007, the national debt was $8,670,596,242,973.04 — that’s $8.67 trillion.
In the two years Pelosi and the Democrats have been in charge, the national debt has grown to $10,699,804,864,612.13 — that’s $10.70 trillion.
Since Pelosi and the Democrats regained control of Congress $2,029,208,621,639.09, or $2.03 trillion, has been added to the national debt. That is a 23% increase in two years the Democrats have controlled Congress.
The Democrat controlled Congress gets the credit for the soaring national debt because under the Constitution Congress controls the purse strings:
Article I, Section. 8.Be sure to thank your Congress critters for a job well done — a 23% increase in two years.
The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
Just Wait until Congress adds Obama’s $800 billion bailout boondoggle to our $10.70 trillion national debt.
7 comments:
The difference is that we will spend the money, that we have to borrow, on American schools, roads and bridges instead of Iraqi, Afghan and the Hamas election process. Maybe even poor New Orleans can get a percentage of the Baghdad super duper taxpayer money pit fund.
Will the buildings in New Orleans be made of straw or sticks?
What about the war IV. Wanna blame that on the Democrats. You again show your bias. How many billons has Bush cost us. How many innocent lives have died. We are so hated because of it.
Blame the democrats all you want. Take a look at the elections. Must be the people do not have the head in the sand like you do. I am trying to see things from your perspective but I cannot get my head that far up my posterior.
Well ... IV ... first of all, you hit a nerve with this "first-hand BREAKING news" about wild-ass DEM spending.
But, the aforementioned article fails (typically) to mention that it was the GOP in charge of Congress from Jan 1995 until the DEMS took over in Jan 2007. Oops...
Let's not forget, that the GOP president has been in charge since Jan 2001 – he HAD TO SIGN EVERY BILL for all that spending. Oops...
Two issues that some fail to conveniently forget or overlook is that NO president gets the spending he wants w/o congressional approval, and no congress ever gets what they want w/o presidential approval.
It's called government working in harmony (or bi-partisanship).
There is lots of room for blame, but flinging crap at the DEMS alone will not fly nor stick this time. The record is clear on that point, IV... Now, let's be honest, okay?
Then we all can have an honest dialogue, good forum stuff and lots of rational discussion that is sorely needed, right?
After all, we are the problem solvers, right?
~ Carry on...
There is a lot of room for criticism to explain why the federal government is so deep in debt. Anon 11:10 fails to mention the Clinton's administrtion in his list of notorious leaders that have "incresded" spending, why? Do you really think that Obama and Company are really going to cut spending? Take a look at today's headlines; Obama to add 600,000 government jobs, Obama to cut taxes by $3B, does this sound like rational government spending??? Decrease taxes, shift spending from Iraq to unviersal healthcare, and what the, hell expand the black hole of beauracracy so that we become more like a socialist state and less like a republic. I think this nation's founders' and forefathers' would be utterly disgusted with the path we have taken and are continuing down. Very truly both Republicans and Democrats are to blame because they both pass the bills and each side is looking for their share of the pie. The path to economic recovery starts with removing the barriers to industrial development and expansion through ridiculous environmentl regulations. For example, the EPA tax on dairy cattle and other farm animals. A $175 tax on every cow per year would bankrupt every single animal farmers in this nation. If a farmers has a herd consisting of 100 cows, one year's milk receipts alone wouldn't cover that tax, not to mention all of his other expenses. It's time to stop the crap and get back to the basics of what government's primary functions are.
dear john,
i think you're confusing spending with debt. that aside, i think it's safe to guess that the second anon 11:10 omitted the clinton administration because her/his comment was in direct response to iv. iv's post seeks to pin blame squarely on democrats. my fellow commenter is simply pointing out that republicans deserve a huge share of blame too.
you are right in a way, though: anon 11:10 would have done well to have mentioned clinton, since then s/he could have pointed out that by the end of the clinton administration, the government was actually paying down the federal debt. and the fiscal policies that led to that situation didn't just come from outer space. they were largely put in place by the 93-95 democratic congress, which actually had the temerity to institute a tax increase, in addition to some painful spending cuts.
as for more current events, we're facing the worst economic situation since the great depression. the correct response to that is massive government stimulus, not neo-hooverism. we should expect, and hope for, massive budget deficits in the next few years. the alternative is far worse.
Why should any of us care? I'll bet most of the folks here are old. That means we won't be around when the crap hits the fan. Therefore, spend away. The old won't be paying and the young are too stupid to know any better. Most have carried massive credit card balances much of their adult lives.
This is a perfect time to be an American.
Don't worry, be happy. All that's important is to win the elections, get your bro's on the government payrolls, and FISH.
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