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Originally Posted by dc_dux
For the fifth time in the last seven years, Congress has had to raise the debt ceiling in order to keep up with the Bush administration (and the Republican Congress) uncontrollable runaway spending.
The total US debt is now over $9,000,000,000,000 (thats 9 TRILLION) and when Bush leaves office in Jan 2009 likely to be nearly DOUBLE the $5.7 trillion when he took office in Jan 2001.
If thats not bad enough, the percentage of this massive and growing debt held by foreign governments and investors has risen from under 16% in 2001 to a projected 25% (nearly one out of every four dollars of US debt will be held by China, OPEC and other friends) when Bush leaves office.
Just one more pile of shit left on the oval office floor by Bush for the next president to clean up.
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The most obvious question: Given Bush has no discipline when it comes to spending why hasn't Congress done something to bring this obscene level of fiscal irresponsibility under control?
And the follow-up: Why is one branch of our Federal government given the responsibility for the mess when it seems like at least two branches are at fault?