Home > Congress raises debt limit-Total Federal Debt up $26 TRILLION Since Bush (...)
Congress raises debt limit-Total Federal Debt up $26 TRILLION Since Bush Took Office !!!
by Open-Publishing - Saturday 18 March 2006For years I’ve been writing about the Federal Debt being much worse than the $400 Billion (annual) deficit that is often reported in the media. The total Federal Debt was $6 trillion when Bush came into office, now it’s $8.2 TRillion and climbing, or so I thought. Then I read this:
The federal government’s fiscal exposures
now total more than $46 trillion,
up from about $20 trillion in 2000.
This staggering revelation was included in the US Dept. of Treasury’s own report.
2005 Financial Report of the United States Government (1mb PDF)
(Page 28 printed, or pg 32 in Adobe reader)
That’s an additional $26 TRILLION in debt since Dubya took office!
Here’s the full quote from the Treasury report:
The current financial reporting model does not clearly and transparently show the wide range of responsibilities, programs, and activities that may either obligate the federal government to future spending or create an expectation for such spending. Thus, it provides a potentially unrealistic and misleading picture of the federal government’s overall performance, financial condition, and future fiscal outlook. The federal government’s gross debt* in the consolidated financial statements was about $8 trillion as of September 30, 2005. This number excludes such items as the gap between the present value of future promised and funded Social Security and Medicare benefits, veterans’ health care, and a range of other liabilities (e.g., federal employee and veteran benefits payable), commitments, and contingencies that the federal government has pledged to support. Including these items, the federal government’s fiscal exposures now total more than $46 trillion, up from about $20 trillion in 2000. This translates into a burden of about $156,000 per American or approximately $375,000 per full-time worker, up from $72,000 and $165,000 respectively, in 2000. These amounts do not include future costs resulting from Hurricane Katrina or the conflicts in Iraq and Afghanistan. Continuing on this unsustainable path will gradually erode, if not suddenly damage, our economy, our standard of living, and ultimately our national security.
*The federal government’s gross debt consists of debt held by the public and intragovernmental debt holdings.
An additional $26 TRILLION in debt since Dubya took office....
I don’t know about you, but for me, this raises the question, why did Dubya want to be President? Is he a noble guy that wanted to help America? Or is "to loot and pillage" a little closer to the truth?
Let’s list off a few under-reported facts
- Pappy getting rich of the war via The Carlyle Group (34mb video)
- Cheney getting rich via Halliburton: Still receiving $1 million annual salary, 433,000 stock options
- Rumsfeld getting rich off Bird Flu scare
- Halliburton in charge of pumping Iraqi Oil, which is not even metered (Galloway mp3)
- Oil Companies looting Iraqi Oil
- Trillions "lost" by Pentagon - no investigation
- $9 Billion lost in Iraq - no investigation
- They Gave $8 Billion in Bonuses to Lockheed Martin and the MI-Complex
- They also hired Lockheed-Martin to spy on American Citizens!
- Enron, Worldcom, host of corporate scandals- all "settled" for pennies on the dollar. Bush appointed fellow Skull and Boner (mp3) William Donaldson to head the SEC.
- Fact: They stole the election in 2000 and 2004.
Did Dubya believe he was on a ’mission from God’ - that’s why he felt it was okay to have Jeb steal Florida? Or did they have other plans in mind - like PNAC’s strategy for world domination- the "New American Century".
We know that Mr. Bush received that infamous memo titled "Bin Laden Determined to Attack in the US" on Aug 6th, 2001. Mr. Bush chose to remain on vacation for the entire month of August, then 9/11 happened.
This was the "New Pearl Harbor" PNAC needed to launch their global war on terror.
All this to run up $26 TRillion in additional debt... are we the people really responsible for this insanity?
The DC Democrats keep saying impeachment is impossible because the Republicans control Congress. They control Congress because they stole the elections. If they can steal the Presidential race, then stealing individual house races is easy.
Why can’t one Democrat come out and say the case for impeachment is real- there is a ton of evidence that these guys should be impeached and tried for war crimes. Even if they’re the only one out of 435... so what, let’s have the debate, me against all 434 of you.
Why not cancel all tv programming and let this live debate air for 3 days straight until all the facts are on the table. Wouldn’t it be cool to ask all businesses to close for three days during this event, let every citizen have the opportunity to hear the case. That would be a good use of our Public Airwaves.