It took 200 years for our country to go into debt by $500 billion dollars.

[kentuck]

Our nation is 228 years old. Now we are going into debt $500 billion every year! How long does any sane person think we can keep this up? Wake up America! George Bush and this Republican Congress are bankrupting our nation. Think about it. It took us from 1776 to 1976 to reach our first $500 billion in debt. Now look around you. Where are we headed?

[Rabrrrrrr]

1. I'm just thankful we have a leader who leads, who isn't afraid

to make the tough decisions.

Not like that waffler Clinton, who felt we had to have a "balanced budget". What did it get us? More pay? Pfagh! Now we have war!

[cthrumatrix]

2. you would think this IS a big deal.... you should read "Running on Empty"

the state of our social safety nets is "past the point " of recovery.

Massive tax increase and cutbacks are the ONLY way to get it whole again...how sad.

[UpsideDownFlag]

3. im pretty sure that america's national debt has been in the trillions

for a while now. are you referring to the deficit? if so, it only took 3 1/2 years for that to occur, lol.

[kentuck]

5. No. It was $500 billion in total debt.

Now we are adding $500 billion to that every year!

[UpsideDownFlag]

7. seriously? i remember hearing all the time that the debt was something

like 1.3 trillion or so.

[kentuck]

8. It broke $1trillion under Reagan...

$200 billion dollar deficits were unheard of until then... Now, look what we got. Actually I heard a Republican make this comment about the first 200 years but I think he may have been a little off. I think it was more like $750 billion when Carter took office. I'm talking about the entire national debt. But it had not broken a billion when Carter left office.

[cheshire]

4. It really only took 3 1/2 years. The Moron administation

[northstar]

6. You know what though....

it's the guys at the 'tippy-top' that are taking EVERY advantage (and more) that we are willing to give them...they stand there with their mouth's open-wide as we STUPIDLY hand them the fruits of our labor to devour for their own good!

No more! The MBA'd CEO's don't know how to run nuthin'....they only have learned how to make money off of other people's labor....they can't run/do anything on their own.....'fine hands they have' b/c they don't work!

[Sentinel]

9. 7 trillion

http://www.socialstudieshelp.com/Eco_Spending_and_Debt.htm


When the government spends more in a given year then it takes in that means there is a deficit. When this deficit is carried over from year to year it is a debt. In 1900 this nation was basically debt free, approximatley 2 billion dollars which is an inconsequential figure, even in those days. In 1929 the debt was 16.9 billion and when the Depression began and World War II occurred the United States under Franklin Delano Roosevelt began true deficit spending. All of those New Deal programs were paid for with money we did not really have. The debt in 1940 ran to 42.9 billion and mushroomed to 258 billion as the nation foughjt World War II. From 1945 through 1961 the debt grew minimally, increasing to only 296 billion in 1961. When one factors in inflation this means the value of the debt declined significantly. Even through the 1960s and 70s which included Vietnam, the space race and the arms race the debt only grew modestly increasing to 789 billion in 1979. This was still a relatively low and manageable amount factoring inflation and growing GNP. Our real debt problems began during the Ronald Reagan administration. In 1981 Reagan passed the Emergency Recovery Tax Act that lowered taxes but increased spending, especially on the military. This basically created an enormous debt. nder the Reagan administration the debt grew from 930 billion in 1980 to 2.6 trillion dollars in 1988. This means the debt grew 300% in eight years after only growing about 150% from 1950 to 1979. In 1997 our national debt reached 5.4 trillion and only during the economic boom during the Clinton administration did it slow. In 1998 the debt was 5.5 trillion, in 1999 it was 5.6 trillion and was the same in 2000.
Since the election of George Bush the debt has begun to rise again. In the four years the Bush has been in office, and again cutting taxes while increasing spending, the debt has risen from 5.8 trillion in 2001 to its current high of over 7 trillion dollars. (all figures available at http://www.publicdebt.treas.gov/opd/opd.htm#history)

[kentuck]

10. Thanks Sentinel !

and welcome ! :)

[newyawker99]

12. Hi Sentinel!!

Welcome to DU!! :toast:

[Yavin4]

11. We're Fighting A War

9/11 and war is the answer for every problem and every failure of this administration. That's all the WH says, 9/11 and war, 9/11 and war, 9/11 and war.