The Fruits Of Republican Rule

Thank you George Bush, thank you Republicans.

via Harpers:

Linda J. Bilmes, lecturer in public finance at Harvard's Kennedy School, and Joseph E. Stiglitz, 2001 winner of the Nobel Prize in Economics and University Professor of Economics at Columbia, describe the cost of the Bush Presidency in an article titled "The $10 Trillion dollar hangover: Paying the Price for the Bush years."

"The result of deficit spending is debt. When President Bush took office, the national debt was $5.7 trillion. Now it is $10.6 trillion -- and Congress voted in October to raise the debt ceiling to $11.3 trillion, the seventh such hike since President Bush to office and the second since last July. If, as is quite likely, we reach the new ceiling by January 20, the outgoing President will have managed to amass more debt than all of his predecessors combined."

So the Republicans who say small government and fiscal responsibility is their strength, who say government is the problem, they sure have no problem spending all the money.

What's worse is that they spent all the money, and at the same time gave the richest people tax breaks. We are going to have to pay for both now. Twice the pain.

Source: DailyKos