Snake Doctor

Something just clicked in my mind the other day about our national debt.

When Reagan took office our national Debt was about 1 trillion. (using rough numbers here) This was our entire debt from our 200 years of existence as a nation and included the bills for all of the wars we'd ever fought.

When he left office the debt was 5 trillion.

When Bush took office our national debt was 5.7 trillion. (I got that number from MSNBC the other day...it was on the screen alot) That means that under 4 years of Bush Sr and 8 years of Clinton, we added a total of 700 billion to the debt. Those 12 years also included a war and a recession.

Currently our debt is 9.7 trillion (source again MSNBC)....and now it appears as though we're going to add at LEAST another trillion to that with the Wall Street bailouts. So that will leave us with a 10.7 trillion debt.

Of that debt, 84% of it is from two Presidents, Reagan and Dubya. The two presidents who told us that cutting taxes for the top brackets would "pay for itself" through the increased growth it would create in our economy.

Just some food for thought....9 trillion of our 10.7 trillion debt is from these two presidents and due in large part to their philosophy on taxes.
Hopefully, America as a nation has learned it's lesson and won't buy into the "voo doo economic theory" anymore.

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