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This Makes No Sense

September 24th, 2008 @ 11:06 am PDT

Turning and turning in the widening gyre

This Makes No Sense
Debt Clock

That was the clock in 2007, now it needs another digit. (Note: Not a joke, now it needs another digit.)

It took the United States 209 years, from the founding of the republic till 1998, to compile the first $5 trillion in national debt. In the decade since, $6 trillion in debt has been added. This means the United States has borrowed more money in the past decade than in all our previous history combined. Almost all the borrowing has been under the direction of George W. Bush — at this point Bush makes Kenneth Lay seem like a paragon of fiscal caution. Democrats deserve ample blame, too. Harry Reid and Nancy Pelosi, Democratic leaders of the Senate and House, have never met a bailout they didn’t like: Harry and Nancy just can’t wait to spend your children’s money. Six trillion dollars borrowed in a single decade and $1.5 trillion borrowed in 2008 alone. Charles Ponzi would be embarrassed.

More posts tagged:
debt / economics / finances / government / TMQ / Tuesday Morning Quarterback

More posts categorized:
News rants

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September 2008 / 2008

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One Response to “This Makes No Sense”

  1. September 25th, 2008 @ 6:22 am
    Blondefabulous

    Yet we spend, spend, spend on a war, kick backs for companies that are going under due to bad book cooking, and bridges to no where. I worry for my kids’ future.

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