Probably not a big deal.... - PeachParts Mercedes-Benz Forum

Austin85 · #1 11-07-2005, 10:29 PM

but I just heard this on Lou Dobbs/CNN....George Bush has borrowed more money 1.2 Trillion dollars than all 42 Presidential administrations prior to him COMBINED. Someone explain how this is a good thing.

PC Dave · #2 11-07-2005, 10:36 PM

Per the US Treasury, on 9/30/00 (i.e. before your favorite prez was elected), the national debt stood at $5.674 trillion. As of 9/30/05, the national debt was $7.932 trillion, making for an increase of $2.26 trillion (not $1.2 trillion).

http://www.publicdebt.treas.gov/opd/opdhisto4.htm

$2.26 trillion is smaller than $5.674 trillion. How did he borrow more than everybody before him combined?

GermanStar · #3 11-07-2005, 10:52 PM

Sure is nice to have a conservative in office.

PC Dave · #4 11-07-2005, 10:59 PM

Dubya deserves grief for not vetoing any spending bills to date and for cutting the revenue side of the income statement, but the Republican congress, whose members should know better, are the ones who shoulder most of the blame for ratcheting up spending in the face of lower taxes. No matter who you favor, a divided government is the best way to keep politicians in general from f---ing things up, their natural role in life.

GermanStar · #5 11-07-2005, 11:11 PM

Quote:

Originally Posted by PC Dave

Dubya deserves grief for not vetoing any spending bills to date and for cutting the revenue side of the income statement, but the Republican congress, whose members should know better, are the ones who shoulder most of the blame for ratcheting up spending in the face of lower taxes. No matter who you favor, a divided government is the best way to keep politicians in general from f---ing things up, their natural role in life.

True, but Bush deserves plenty of blame as well. I don't think we'd be throwing a trillion dollars down a rathole in Iraq without him......

cmac2012 · #6 11-08-2005, 12:11 AM

The Grover Norquist "starve the beast" mania might sound like tough love on the surface, but if pols don't actually start paying attention to the reality of less funds to play with and quit buying on credit, we're going to end up with an incredibly rich upper, upper class and Argentina style fiscal disaster for the rest of us.

crash9 · #7 11-08-2005, 12:15 AM

Quote:

Originally Posted by PC Dave

Per the US Treasury, on 9/30/00 (i.e. before your favorite prez was elected), the national debt stood at $5.674 trillion. As of 9/30/05, the national debt was $7.932 trillion, making for an increase of $2.26 trillion (not $1.2 trillion).

http://www.publicdebt.treas.gov/opd/opdhisto4.htm

$2.26 trillion is smaller than $5.674 trillion. How did he borrow more than everybody before him combined?

Just a guess, but maybe interest on the debt borrowed was not considered.

PC Dave · #8 11-08-2005, 12:30 AM

Quote:

Originally Posted by crash9

Just a guess, but maybe interest on the debt borrowed was not considered.

Fair point, W's had the "benefit" of five years' accruing interest on the previous balance - which he, of course, borrowed to pay. Depending on the average duration and the yield curve, that could make up half of "his" profligacy...

boneheaddoctor · #9 11-08-2005, 08:30 AM

How many trillions has been p1ssed away on welfare since its inception.....

Paying people to sit on their butts get fat and breed more welfare bums......

Personally Iraq is a better expediture of that money than welfare was....

Botnst · #10 11-08-2005, 08:42 AM

Quote:

Originally Posted by boneheaddoctor

...Personally Iraq is a better expediture of that money than welfare was....

True, but still NO EXCUSE for burdening the taxpayer with this freaking debt from hell. They wrote and he signed teh highway bill, f'instance. And it goes on and on. Dave is right, divided gov is best for spending from a taxpayer's POV.