WASHINGTON, Nov 7 (Reuters) - The U.S. Treasury Department said on Wednesday publicly held U.S. debt breached $9 trillion this week for the first time ever, just five weeks after Congress had raised the statutory borrowing limitâ¦
The increase in the debt limit is the fifth since Bush took office in January 2001. The U.S. debt stood at about $5.6 trillion at the start of his presidencyâ¦
The Greatest Tax Cut Evah!
Seven years ago, the government was running a 230 billion dollar and growing surplus. By 2012--only four years from now--our national debt--our entire national debt--would have been paid off. Each and every American taxpayer would have enjoyed a tax cut from getting rid of the 300 billion dollar plus interest payments on our debt.
After eight years of doing our part, working hard, paying our taxes, when Bush leaves office, each and every American taxpayer is going to be rewarded by owing nearly twice as much as when Bush literally took office.
That's some tax cut.
In approving the debt limit increase, Congressional lawmakers said the $850 billion increase should be large enough to allow the government to continue borrowing into 2009, well beyond next year's presidential and congressional elections.
Oh, thank goodness! I'd hate to think our elected representatives would actually have to answer questions about the trillion dollars they just borrowed in our name during an election year! That would be so distracting from the more important issues of taxing whores, burning flags, speaking English, and making little children recite a pledge they don't even understand.
The modern Gee Oh Pee is horrendous. It's a nation wrecking machine. There's no denying that.
But you've got to admit: the modern Democratic party is weak and lazy, and either too dumb or too scared to fight.
In eight years of fiscally conservative leadership, the Gee Oh Pee added four trillion dollars of debt to American taxpayers. Those were eight years under a "CEO" styled fiscally conservative Republican president. Six out of eight of those years were under a fiscally conservative Republican House, which, under Bill Clinton pretended to want a Constitutional Amendment to balance the budget. And four of those eight years--the four record setting deficit years--were under a Republican House, Senate, and President.
The Gee Oh Pee, given total control of our government, answered in red and red for once and for all the age old question of which party can taxpayers trust more when it comes to their money.
And Democrats, quite helpfully, took that issue off the table until after next year's Presidential and Congressional elections.
What a bunch of weak sucks.