Some more than others tho... I remember reading that the national deficit had increased by 300% (yes, three-hundred -- in other words quadrupled) during the Reagan administration. I don't know how true it is, but given that Reagan once said (before he was elected to the presidency iirc) that he believed that Americans had way too little debt, I wouldn't be surprised if deficits across the board had balooned up with him in office.
> This happens with every President. > What pisses me off is how much spending we have, period. > "Sen. Max Baucus (D., Mont.) said last week that under Mr. > Bush the total of > the deficits has increased by $3 trillion, a 40% increase > from where the > national debt, the total of previous deficits, stood when > Mr. Bush took > office in January 2001." > How about this Max, and every other spend thirsty asshole > in Washington, cut > the friggin' budget! > I'm sick of how much money our government wastes. > -----Original Message----- > From: Gruss Gott [mailto:[EMAIL PROTECTED] > Sent: Monday, March 06, 2006 1:33 PM > To: CF-Community > Subject: Bush in Da House, Raise The Roof! > Snow Says U.S. Has Taken 'All Steps' to Avoid Debt Limit > A WALL STREET JOURNAL ONLINE NEWS ROUNDUP > March 6, 2006 1:00 p.m. > Treasury Secretary John Snow notified Congress on Monday > that the > administration has now taken "all prudent and legal > actions" to keep > from hitting the $8.2 trillion national debt limit. > In a letter to Congressional leaders, Mr. Snow urged > lawmakers to pass > a new debt ceiling immediately to avoid the nation's > first-ever > default on its obligations. "I know that you share the > president's and > my commitment to maintaining the full faith and credit of > the U.S. > government," Mr. Snow wrote. > Treasury officials, briefing congressional aides last > week, said that > the government will run out of maneuvering room to keep > from exceeding > the current limit sometime during the week of March 20. > Mr. Snow said government debt managers are starting to use > the Civil > Service Retirement and Disability Fund to stay below the > current > limit. Mr. Snow said he has declared a "debt issuance > suspension > period," a technical designation that lets Treasury > suspend new > investments for the civil-service fund and redeem some of > that fund's > investments, "as authorized by law." > The Treasury secretary said "it is important to > understand" that this > maneuver "provides only a few days of additional borrowing > capacity, > which we expect will be exhausted by mid-March." > Treasury officials also announced that on Friday they had > used the $15 > billion in the Exchange Stabilization Fund, a reserve the > Treasury > secretary has that is normally used to smooth out volatile > movements > in the value of the dollar in currency markets. > Treasury has also been taking investments out of a $65.3 > billion > government pension fund known as the G-fund. Officials > have said that > once the debt limit is raised, the investments taken out > of the > pension funds would be replaced and any lost interest > payments would > be made up. The formal title for the G-fund is the > Government > Securities Investment Fund of the Federal Employees > Retirement System. > An actual default on the debt, a situation when the > government misses > making payments to current bondholders, is a doomsday > scenario > considered highly unlikely given what it would do to the > government's > credit rating. > It is expected that Congress will approve an increase in > the current > $8.18 trillion debt limit by perhaps $781 billion. Mr. > Snow will be > meeting privately this week with U.S. lawmakers to discuss > the > importance of raising the debt limit, Treasury spokesman > Tony Fratto > said at a routine press briefing on Monday. > Senate Democrats have asked the Republican leadership for > extended > debate before raising the debt limit. Senate Minority > Leader Harry > Reid (D., Nev.) has said he wants to amend debt > limit-increase > legislation "to reduce the need for further debt increases > in the > future." > Whatever concerns Congress may have about the longer-term > budget > outlook, "we cannot hold hostage the full faith and credit > of the > United States of America," Mr. Fratto said Monday. Any > indication from > lawmakers that they can't support an increase is "not > appropriate and > certainly not sustainable," he said. "At the end of the > day, the debt > ceiling needs to be raised." > Congress has put off a debt-limit increase until "the > eleventh hour" > several times during President Bush's administration, but > "we cannot > take it for granted" that putting off the increase this > time won't be > problematic, Mr. Fratto said. > The administration has sent Congress a budget that on > paper would cut > the deficit in half by 2009, the year Mr. Bush leaves > office. But > Democrats contend the administration met its > deficit-reduction goal > only by leaving out major spending items such as the full > costs of the > Iraq war. They say the deficit won't improve unless Mr. > Bush abandons > his effort to make his first-term tax cuts permanent. > Sen. Max Baucus (D., Mont.) said last week that under Mr. > Bush the > total of the deficits has increased by $3 trillion, a 40% > increase > from where the national debt, the total of previous > deficits, stood > when Mr. Bush took office in January 2001. > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Message: http://www.houseoffusion.com/lists.cfm/link=i:5:199052 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
