July 24, 2012 - 6:06 am
By the end of the third quarter of fiscal 2012, the new debt accumulated in this fiscal year by the federal government had already exceeded $1 trillion, making this fiscal year the fifth straight in which the federal government has increased its debt by more than a trillion dollars, according to official debt numberspublished by the U.S. Treasury.
Prior to fiscal 2008, the federal government had never increased its debt by as much as $1 trillion in a single fiscal year. From fiscal 2008 onward, however, the federal government has increased its debt by at least $1 trillion each and every fiscal year.
I can’t say offhand what the debt was, but Bush had the the deficit down to $160B before Democrat Treasury Secretary Hank Paulson came along- and pocketed a cool $1.5 billion for himself (the Abacus Play), out of HIS TARP proposal.
These bozos only mission is to steal everything in sight- and bankrupt America. They are ‘loaning’ themselves a trillion-dollar slush fund each year. We’re the hapless co-signors.
A question- Tom Hartmann, who formulates most of the current arguments for the Left, once state that Andrew Jackson caused our worst Depression (1837-1843) by paying off the national debt.
Can anyone give me a simple answer as to why paying off our Debt would ruin the country? Thanks.