Some people will call this sour milk, I call it informing others of some of the fiscal changes that have occurred over the past several years. Some people will ignore these numbers, "it's the Republican's fault for not working with the President" will be the charge. To those people I say have an open mind. All of the information that I will present is available from multiple sources on the web and as such is very verifiable for anyone who so desires.
The national debt in this country has almost tripled since September of 2000, the year before George W. Bush took office. At that time the national debt was at $5,674,178,209,886.86, that's correct over Five Trillion dollars. Eight years later in September of his last year in office the number had almost doubled to $10,024,724,896,912.49, a total increase of $4,350,546,687,025.63. Astounding in it's size. At that time we had just entered into a recession caused by the housing market bubble bursting, two wars, and an attack on our financial center seven years prior.
In round numbers the current national debt is $16,299,195,433,000.00 over Sixteen and a Quarter Trillion dollars. That is $6,274,470,536,087.51 dollars more than the end of the Bush presidency. In four years the current administration has generated $1,923,923,849,061.88 more dollars of debt than was generated in the eight years of the Bush administration.
There are those that will say that much, if not all, of that is based on the wars that President Bush got us involved in and to an extent that is true, however this administration, including the 2 years when they had complete control of both the House and the Senate has never passed a budget. For the past four years we have been moving forward, as a country, on continuing resolutions. Now is when we hear the argument that it's because the Republicans have been standing in the way. During the first two years of this administration they were able to push multiple bills, not the least of which is the Affordable Care Act, through both houses of Congress with nominal Republican support yet they could not pass a budget with their own people leading the charge.
It is this type of fiscal performance that makes me worry for our nation. If we, as a nation, do not get our spending under control, stop borrowing (especially from countries that have sworn to take us down) and start living according to our means this nation will be the former United States within a decade. If only one of our bond holders were to call in their bonds it would be the end of the United States that day. The Federal Reserve would have to print the money to pay the debt thereby reducing the value of any dollars already in circulation, this would cause massive inflation bringing the nation to it's knees in short order.
I wish the administration good luck going forward but I will be watching. I will raise my voice from the mountains should I find reason. Inflation is already with us to some extent. Just looking at the prices of fuel one can see it. In November of 2008 gasoline was $1.72 per gallon on average nationwide, over the road diesel at $3.10. The current averages for those fuels are $3.56, an increase of $1.84 and 4.01 an increase of $0.91 respectively. This is causing the prices for most commodities to rise as diesel is the number 1 fuel for the transport of the items we use daily. Keep your eyes open people, promises are nice but they won't pay the bills.
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