The Chart the 30's group had..(bush=42 presidents borrowing)

[bluedog]

November 3, 2005

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.

"The seriousness of this rapid and increasing financial vulnerability of our country can hardly be overstated," said Rep. John Tanner (D-TN), a leader of the Blue Dog Coalition and member of the House Ways and Means Committee. "The financial mismanagement of our country by the Bush Administration should be of concern to all Americans, regardless of political persuasion."

snip

"No American political leadership has ever willfully and deliberately mortgaged our country to foreign interests in the manner we have witnessed over the past four years," continued Rep. Tanner. "If this recklessness is not stopped, I truly believe our economic freedom as American citizens is in great jeopardy."

http://www.americanchronicle.com/articles/viewArticle.asp?articleID=3486

[BurgherHoldtheLies]

1. OMG! The most fiscally irresponsible administration in HISTORY.

:banghead:

[bluedog]

3. I seen thechart last night and today

was trying to find the link.Tim Ryan was the one who brought it up.....and finally found it on the St Pete forum.in Florida


totally blew my mind......bush out spent 42 presidents........from the day the country was founded and our government created.......how does one explain away this corruption?

edit spelling

[SharonAnn]

4. It was explained as the amount of money owed to foreign entities.

The Bush debt is FAR great than $1 trillion.

When Reagan took office, the debt was almost $1 trillion.
After his first four years it was almost $2 trillion
After his next four years it was $3 trillion
After GHWB's term it was $4 trillion.

That's about $1 trillion in added total debt every four years.

After GWB's first term I think the total debt was over $6 trillion. He's adding $1 trillion total every two years, at that rate.

However, of the debt, not all of it is owed to foreign investors. It's just recently that MOST of the buyers of government bonds are foreign investors. And that percentage will likely increase.

[WannaJumpMyScooter]

5. linki? I can't find the graphic

I want it

[bluedog]

6. I can't find the chart either

Tim Ryan of Ohio has it on the floor in the house.....and wish he would put it up on his website

[LSparkle]

2. I LOVE the 30somethingdems!

I've ended up watching them on C-Span a lot recently, and they make so much sense. I also love the idea of them blocking out a certain hour every few days (usually at the end of the House's schedule), sort of like a TV series, to discuss important issues that aren't addressed during "regular business hours" in the House.

[wicket]

7. Just call us the United States of China

n/t