Anytime the federal government talks about a billion dollars; that’s about $4.00 for each of us. When our government talks about budgets and deficits in the terms of a trillion dollars; that’s about $4,000.00 to the taxpayer. I hope that put some light on what a trillion is, now, like the great Paul Harvey used to say “Here’s the rest of the story”.
Not too long ago, then, President Bush requested $87 billion for us to fund and manage two wars. That would have cost you $348.00 dollars.
Consider the news when the awful president Bush was proclaimed the “Worst President Ever” with a deficit of $420 billion, that’s about $1,680.00 cost to you, the taxpayer. Even though Bush with the GOP congress have survived the DOT.COM bubble, two wars and the tragic attracts of 9/11.
Remember the 2003 tax cuts, they did what they were supposed to do, like they always do, they increased federal revenue and decreased the deficit by $120 billion – or $360.00 to us taxpayers.
The national debt when Bush took office was $4 trillion dollars. That’s a staggering $16,000.00 for you. In Bush’s first six years his administration added $2 trillion to the national debt, he was harshly criticized, and rightfully so, that’s a total federal debt of $6 trillion, or, $24,000 for each of us citizen taxpayers.
The One Hundred Tenth United States Congress was the meeting of the legislative branch of the United States Federal Government, between January 3, 2007, and January 3, 2009, during the last two years of the second term of President George W. Bush. The Democratic Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995. Democrat Nancy Pelosi became the first woman Speaker of the House and Harry Reid was Majority Leader in the Senate.
In two years of the 110th congress the Democratic controlled body of government increased the debt by $5 trillion, that congress borrowed more in two years than all 42 presidents before Bush, COMBINED. They successfully increased the national debt more in two years than the 224 years of the United States of America. That a $5 trillion increase that brought our debt to $14 trillion, that’s an amazing $56,000.00 for each man, woman and child in the USA!
This year’s deficit alone is $1.7 trillion, or $6,800 to you. Our government is deficit spending almost $7,000 for every person in the country. That means that after spending every dollar the government actually collects in taxes, they keep spending and borrowing at this ridiculous level.
Our federal budget is $3.5 trillion per year, $14,000.00 for each of us. $2.2 trillion is entitlement spending. Entitlements represent transfer of wealth, from the people who work to the people that don’t to the tune of $8,800.00 per taxpayer; and of course, that includes money to pay the interest on financing the whole scheme.
In the latest skirmish on Capitol Hill the senate cannot agree to cut the $3.5 trillion budget by $100 billion, $400 bucks to you and I. The debt ceiling vote is gridlocked for bargaining proposes between the House and Senate.
What’s the end of this story sound like to you?