December 08, 2003

Another month older and deeper in debt. The Bush Administration ran up the national debt an additional $52.4 billion in November.

We are now $505 billion away from the national debt limit that was just raised by almost one trillion last May 23rd, a little over six months ago.

Unless there is a radical change somewhere, we will hit the new debt limit by August or September of 2004, about ten months from now in the heat of the national elections.

Since the government's fiscal year ended on September 30th, the national debt has gone up $141.8 billion—$30 billion from entitlements like Social Security surpluses borrowed/stolen and $108.8 billion borrowed honestly from investors, both foreign and domestic.

George W. Bush is on an unprecedented borrowing binge that will make our children and grandchildren slaves to the company store.

Democrats are quite right in attacking Bush for spending like a drunken sailor, but they are not without guilt either.

In fiscal 2000, the year that Bill Clinton and Al Gore were bragging about paying down the national debt, the debt still increased $18 billion, and the $230 billion they did throw against the debt came largely from Social Security and other entitlement surpluses in a laundry operation that would make Marc Rich proud.

There are only two major reasons for this ridiculous borrowing. First, there's our depressed economy causing serious shortfalls in tax receipt revenue for the government. And secondly, there is giagungha spending on the war on terror.

While the loyal laugh-a-lot paparazzi media campaigns to convince us that the economy is improving, there really isn't much substance to back up this story other than the Christmas shopping season and the distinct possibility that the unpunished cheaters like Enron, WorldCom, and so forth, have been allowed and perhaps encouraged to return to their false reporting of the Golden Dame's Progress (GDP).

With chaos in both Iraq and Afghanistan, nobody needs another dramatic 9/11 event more than George W. Bush to cement his position as the only man to lead us to victory in the war against terrorism while sweeping everything else under the rug and stonewalling any real investigation into why it happened.

Visit Ed Henry's own web site!

Archives

New York Times - Trying, But Wrong Again

Mafia Tactics -- Extorting Weaker Nations

Storm The Bastille -Cut The Debt By 42% -- $2.9 Trillion

Vanished - $86 Billion