Wednesday, November 09, 2005

Fiscal sanity

The trends with the annual deficit and aggregate national debt have to be reversed or we are in for some serious problems. Consider this.
WASHINGTON D.C.- President George W. Bush and the current administration have now borrowed more money from foreign governments and banks than the previous 42 U.S. presidents combined.

Throughout the first 224 years (1776-2000) of our nation’s history, 42 U.S. presidents borrowed a combined $1.01 trillion from foreign governments and financial institutions according to the U.S. Treasury Department. In the past four years alone (2001-2005), the Bush Administration has borrowed a staggering $1.05 trillion.
This is just another reason to root for McCain, who is a deficit hawk, in 2008.