National Debt Increased $5.5 Trillion Since Last Budget
Since the last time the federal government ran on a budget, the national debt increased $5.5 trillion.
I wouldn’t be surprised if Democrats tried to take China to the World Court for taking advantage of us through predatory lending:
The U.S. added $226 billion in new debt in just the 35 days since President Obama missed the legal deadline to submit his budget.
That’s more than the government will spend this year on education, homeland security, law enforcement, housing aid, energy and the environment, combined.
A 1921 law requires the president to submit his budget plan to Congress on the first Monday in February, but Obama so far hasn’t produced one, and the White House says it won’t release its plan to get the nation’s deficits and debt under control until sometime in April.
Senate Democrats, meanwhile, haven’t produced an annual budget — also required by law — since 2009. Over that time, the nation’s debt has climbed $5.5 trillion, according to the Treasury Department.
Senate Budget Committee Democrats are now promising to introduce a budget plan this week.
The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.
Meanwhile, the entire Democratic Party is crying from the hilltops that the country will collapse if we trim $85 billion out of an annual increase in spending.
We will still spend more this year than last, we will still increase the debt and we will still look to China to back our irresponsible fiscal policy.
Who’s irresponsible now? Who’s unpatriotic?