Bush has borrowed more foreign $

[Guest Arnold_OldSchool]

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.

 

"The seriousness of this rapid and increasing financial vulnerability of our country can hardly be overstated," said Rep. John Tanner (D-Tenn.), 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," said Tanner in a press release.

 

Earlier this year, the Blue Dog Coalition unveiled a 12-step plan to "cure" the nation's "addiction to deficit spending." It included requiring all federal agencies to pass clean audits, a balanced budget, and the establishment of a rainy day fund for use in emergencies specifically a natural disaster.

 

"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," said Tanner. "If this recklessness is not stopped, I truly believe our economic freedom as American citizens is in great jeopardy."

[Special K 0]

No shit. Whatever you think about Bush, his economic history is fucking untennable. He's not even trying to cut pork. He's cutting corporate taxes, spenfing more on beauracracy, (such as no child left behind) and trying to cut veterans' benefits. The Bush publiscity maching is so fucking brilliant to let them get away with this shit. Plus the ridiculous amount of money spent on the unnecessary war.

[Justice 0]

Is this honestly adjusted for inflation?

[Stephen Joseph 0]

No, its not. And that is its problem.

 

They are correct in that Bush has borrowed more than most Presidents, but incorrect in their assertation that foreign borrowing is at a real all-time high.

 

Don't funk with the economist.

[Guest Fishyswa]

So Mr Economist, for a point of reference, can you tell us what president borrowed the most, in comparison?

[Dr. Tyler; Captain America 0]

I was about to say, inflation. This is a real "duh" question.

 

 

"George Washington only borrowed $55 and a box of Cheez-Its from foreign countries!"

[Big Ol' Smitty 0]

So Mr Economist, for a point of reference, can you tell us what president borrowed the most, in comparison?

<{POST_SNAPBACK}>

 

President Pierce was notorious for borrowing his neighbors' lawnmowers and not returning them.

[2GOLD 0]

I bet it was that fucker Warren Harding!

[Stephen Joseph 0]

So Mr Economist, for a point of reference, can you tell us what president borrowed the most, in comparison?

<{POST_SNAPBACK}>

 

Oh how you mock so much. Aren't you intelligent.

 

Your answer, if you cared, is Ronald Reagan.

Edited November 9, 2005 by Stephen Joseph

[Guest Fishyswa]

All I cared about was the answer. :/ So um, thanks....

[ZGangsta 0]

"George Washington only borrowed $55 and a box of Cheez-Its from foreign countries!"

Yeah, but do you have any idea how fucking many Cheez-It's that would be if adjusted for inflation!

[CheesalaIsGood 0]

If Bush would only borrow more Cheez-its he would have got my vote.

[Art Sandusky 0]

I'm way more satisfied knowing Reagan holds the real record.

[EricMM 0]

But don't worry, his POLICIES will ensure that we borrow even more for decades to come.

 

So he can probably be responsable, eventually, for more than Reagan.

[Dobbs 3K 0]

What I find even more disturbing is that we have a Republican president, Congress, and mostly conservative supreme court, and they really haven't managed to get jack done for the USA. People are getting pissed about it, between gas prices and the war, and there should be a backlash in the next election.

[Stephen Joseph 0]

There won't be.

 

Currently, the Democratic party has no solution platform, only criticism.

Criticism doesn't win elections.

[Big Ol' Smitty 0]

There won't be.

 

Currently, the Democratic party has no solution platform, only criticism.

Criticism doesn't win elections.

<{POST_SNAPBACK}>

 

http://www.democrats.org/a/national/economic_growth/

 

See bullet point #2.

[The Czech Republic 0]

Even though the Republicans are suckin' it up all over the place, the Democrats inherently cannot be better. The GOP can be salvaged, it's a matter of phasing out neoconservatism and the Bush cabal. Harriet Miers was my breaking point as it pertains to Bush cronyism, incidentally. In case anyone was wondering.

[Justice 0]

There won't be.

 

Currently, the Democratic party has no solution platform, only criticism.

Criticism doesn't win elections.

<{POST_SNAPBACK}>

 

http://www.democrats.org/a/national/economic_growth/

 

See bullet point #2.

<{POST_SNAPBACK}>

 

It's nice to say those things, but I think if you look at just about every article below that, you can understand why. Saying "You can't trust Republicans with your money" is a bit different than saying "Democrats: Fighting for a balanced budget".

[Big Ol' Smitty 0]

True dat.

[Big Ol' Smitty 0]

^

On a side note, what the fuck is this guy's problem?

[2GOLD 0]

^

On a side note, what the fuck is this guy's problem?

<{POST_SNAPBACK}>

 

That fucker on the far left looks like the Mask only painted.

That is one disturbing smile.

[Justice 0]

He looks like he has a mustache painted on.

[Slayer 0]

SMOKIN'!

[Dr. Tyler; Captain America 0]

We'll see if the Democrats have a shot in 2008 if they gain much in 2006. If these off-year elections are any indicator, they may have a shot. But, we'll see in a year.

[2GOLD 0]

We'll see if the Democrats have a shot in 2008 if they gain much in 2006. If these off-year elections are any indicator, they may have a shot. But, we'll see in a year.

<{POST_SNAPBACK}>

 

Sadly the one thing I've been able to count on come Presidental election time is the Democrats pissing a sure win down their leg. They better have a good candiate cause if it's lady Clinton, I'm avoiding the dems again.

[Dr. Tyler; Captain America 0]

I still doubt it'll be her. She's angling to run, clearly, but I don't think she'll do it if the polling numbers aren't there.

[Art Sandusky 0]

Even if Democrats win in 2008, 2012 will be the year shit goes down and real change goes on.

[2GOLD 0]

Even if Democrats win in 2008, 2012 will be the year shit goes down and real change goes on.

<{POST_SNAPBACK}>

 

Isn't there like some Mayan or Aztec or X-Files bull involving the year 2012? I don't pay much attention to that anymore.

[CanadianGuitarist 0]

"George Washington only borrowed $55 and a box of Cheez-Its from foreign countries!"

Yeah, but do you have any idea how fucking many Cheez-It's that would be if adjusted for inflation!

<{POST_SNAPBACK}>

 

Do you think it'd be a lot of regular sized boxes, or one MONSTER box?