What would it take to bring fiscal restraint & responsibility to Washington?

Discussion in 'Economics' started by futures_shark, Feb 18, 2006.

  1. http://www.cnsnews.com/ViewNation.asp?Page=\Nation\archive\200511/NAT20051104b.html

    Bush Borrowed More Than All Previous Presidents Combined, Group Says
    By Melanie Hunter
    CNSNews.com Senior Editor
    November 04, 2005

    (CNSNews.com) - President Bush and the current administration have borrowed more money from foreign governments and banks than the previous 42 presidents combined, a group of conservative to moderate Democrats said Friday.

    Blue Dog Coalition, which describes itself as a group "focused on fiscal responsibility," called the administration's borrowing practices "astounding."

    According to the Treasury Department, from 1776-2000, the first 224 years of U.S. history, 42 U.S. presidents borrowed a combined $1.01 trillion from foreign governments and financial institutions, but in the past four years alone, the Bush administration borrowed $1.05 trillion.
     
    #21     Feb 19, 2006