Today’s Register editorial reports that our national debt is now $9 trillion dollars and lays the blame squarely at the feet of President Bush and the Republicans who held ppower for that long.Ã‚Â
The Register reports that the federal debt has more than doubled under Bush epxanding by about $5.6 trillion dollars.Ã‚Â
I have a 2005 CNS News.com article that cites U.S. Treasury Department statistics from 1776 to 2000 that it took 224 years and 42 presidents combined to borrow $1.01 trillionfrom foreign governments and banking institutions. From 2001 to 2005, Bush borrowed $1.05 trillion.Ã‚Â And with our national debt soaring to $9 trillion, does this mean our presdient has racked up $8 trillion in credit card debt to the Communist Chinese, the Japanese and the Saudis since taking office?
Yet the right wing blogs here continue to paint Democrats as the party of taxation and out of control spending.Ã‚Â The first step for the GOP is to admit financial mismanagement in mortgaging America’s future.Ã‚Â And by doing so, they have placed our freedom and liberty at risk.
The Blue Dog Coalition, a fiscal responsibility group, suggests all federal agencies pass clean audits, balanced budgets and set aside rainey day funds for natural disasters.Ã‚Â