Sunday, October 17, 2010

Who's Worse On Creating Debt - The Truth For A Change!

Here are the facts about debt creation the past 10 years according to the federal Treasury department:

Just before Bush was elected, the Treasury department reported that the national debt was already large: $5.67 Trillion.

Congress, NOT the president, is responsible for spending, taxing and, therefore, debt. Six years of a Republican congress (2001 - 2006) produced an increase in the debt of approximately $3 Trillion.

Four years of Democratic control of the debt (because congress controls the debt) has produced an increase of approximately $5 Trillion.

Bottom line: in four years, the Democratic congress has created nearly twice as much debt ... ie, in two less(!) years versus the previous Republican congress.

Yes, Republicans also created too much debt but do not believe the bald-faced lie that they were worse than Democrats in that department. The truth(!) shows that Democrats have a lot of nerve complaining about Republican-created debt and are hypocrits of the first order for doing so.

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