![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
Borrowing and debt: perspective.
Nov. 17th, 2005 09:47 pmI just took a $6k loan to consolidate my various small debts. It'll make my repayments easier and give me a little more financial flexibility (read: spending money) but it stil seems like a lot. Until I found this wee gem:
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, which the Blue Dog Coalition in the House of Representatives called “astounding.”
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 (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.”
Abandon ship! She's goin' down!
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, which the Blue Dog Coalition in the House of Representatives called “astounding.”
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 (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.”
Abandon ship! She's goin' down!
