More red ink. The White House has just released the budget for 2007. If approved by Congress, this budget would increase defense spending by 24%, cut money from healthcare, education, and the environment all while adding another $354 billion to the U.S. debt. (NPR analysis.). At the end of FY2000, the U.S. debt - the accumulation of the deficit spending of all previous 42 U.S. Presidents - was $5,674,178,209,886.86. Today it is $8,195,544,127,376.07 (here is an up-to-the-minute estimate.) Bush took office with a budget surplus and a forecast of a cumulative 10-year surplus of $5.6 trillion. In just 6 years, the party of tax cuts and balanced budgets , under the steady leadership of President number 43 has added 45% to the Ú.S. national debt.
posted by three blind mice on Feb 7, 2006 - 74 comments