Quote:
Originally Posted by Cali Coug
I don't understand why you tend to vote Republican. The greatest increases in the national debt have all come during Republican administrations (and with W, with a Republican House and Senate as well). When Bush came to office, the national debt was approximately $5.5 trillion. It now stands at over $9 trillion. A $4 trillion dollar increase in his presidency when it tooks us our entire nation's history to get to $5.5 trillion.
And how did we get to $5.5 trillion? At the end of Carter's presidency, it was at about $890 billion. At the end of Bush I? Approximately $4.5 trillion. Under Clinton, it went up about $1 trillion (still not a small number, but much smaller than the others in comparison).
As the debt increases, the amount of taxes we require to service that debt increases. We also now have about 50% of that debt held by foreigners- an unsettling thought that raises many national security concerns.
Sure- people can blame Democrats for taxing and spending. But history demonstrates that the biggest spenders (leading to the highest taxing) are Republicans.
|
You make a solid point. Last I read 16% of tax receipts were required to service the debt alone. Surely that has to have gone up since Bush came into office.