Connect the Dots

30 09 2008

I love to think about facts and statistics, so here are a couple to ponder:

According to CNN, President Clinton’s administration left a budget surplus of roughly $230 billion with a national debt of roughly $5.3 trillion (give or take a couple of billion).

That was eight long years ago and now, according to the U.S. Treasury Department, the country is about $9.8 trillion in debt with a projected budget deficit in July of $389 billion. I suppose we can tack on about $800 billion now, assuming our fearless leaders can ever agree on a bailout package.

Golly, I hardly know what to say, especially in light of the fact that the 401K I worked so hard to build is currently worth only about 2/3 of its value a year ago.

“Well,” you say, “Here in America, we are free to vote for a different party and a new administration.” Unless, of course, you live in Kansas where all six of our Electoral College votes will be Republican.

Oh.

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One response

1 10 2008
Walt

Carter left a deficit of about 75 B., Reagan one of about 200 B. This “didn’t matter” because tax cuts “grew the economy.” But as the debt increases, more and more of our taxes go for interest (the Chinese now own about 1 T of our T-notes, and are collecting….Oh, assume 4% interest and you do the math…every year which we pay them for the privelege of being in debt. )…and not for health care, highways, cruise missiles, graft or whatever we think we’re paying ourselves for. For those who really love the free market, how’s it working so far? Why is it everytime we have a Democratic administration the economy perks up? Just asking.

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