WASHINGTON (CNN) -- President Bush hailed new budget figures released this morning that shows the deficit is $127 billion less than what he predicted earlier this year.
Bush credited the revised number to his economic policies including tax cuts, efforts to rein in federal spending as well as his pro-growth policies.
"This good news is no accident," he said in a short speech from the White House. "It is the result of the hard work of the American people and sound policies in Washington, D.C."
Is he nuts? He thinks this is good news, really in touch with people who have to work for a living!
If our policy is to stay the course, give tax cuts to the wealthiest 2% so it will trickle down to the working class, and damn the oil prices as long as the oil companies are making money for political contributions, then we seem to be headed in the wrong direction.
This debt clock is maintained by Ed Hall (edhall@brillig.com). It was last calibrated using information obtained from the U.S. Department of the Treasury dated 7 July 2006. Population figures are derived from the U.S. Bureau of the Census' Population Clock.
The Outstanding Public Debt as of 12 Jul 2006 at 12:10:24 AM GMT is:
$ 8 , 4 1 7 , 8 2 7 , 0 1 2 , 5 4 7 . 1 4
The estimated population of the United States is 299,084,213
so each citizen's share of this debt is $28,145.34.
The National Debt has continued to increase an average of
$1.71 billion per day since September 30, 2005! Obviously the tax cuts and the jobs that have been created for people in the services industry are really helping the economy.
Morning Edition, March 16, 2006 · Faced with a potential government shutdown, the Senate votes to raise the nation's debt limit for the fourth time in five years. The bill passed by a 52-48 vote, increasing the ceiling to $9 trillion. President Bush will sign the bill later this week.
The debt now stands at more than $8.2 trillion.
Like many cash-strapped Americans who have maxed-out credit cards, the federal government has hit its limit for borrowing funds to keep operating. If the limit isn't raised, the government likely will run out of borrowing authority within days, risking a shutdown.
When President Bush took office five years ago, the national debt was at $5.6 trillion; since then, big budget surpluses have collapsed into huge deficits, and the debt has shot up nearly 50 percent.
(CBS/AP) WASHINGTON, Nov. 19, 2004 President Bush signed legislation on Friday raising the government's debt limit by $800 billion and clearing the way for Congress to send him an overdue $388 billion spending bill to finance most federal agencies.
The new federal borrowing cap is $8.18 trillion; that's 70 percent the size of the entire U.S. economy, and more than $2.4 trillion higher than the debt Mr. Bush inherited upon taking office in 2001.
WASHINGTON (CNN) -- President Clinton announced Wednesday that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year's record surplus of $122.7 billion.
Bush credited the revised number to his economic policies including tax cuts, efforts to rein in federal spending as well as his pro-growth policies.
"This good news is no accident," he said in a short speech from the White House. "It is the result of the hard work of the American people and sound policies in Washington, D.C."
Is he nuts? He thinks this is good news, really in touch with people who have to work for a living!
If our policy is to stay the course, give tax cuts to the wealthiest 2% so it will trickle down to the working class, and damn the oil prices as long as the oil companies are making money for political contributions, then we seem to be headed in the wrong direction.
This debt clock is maintained by Ed Hall (edhall@brillig.com). It was last calibrated using information obtained from the U.S. Department of the Treasury dated 7 July 2006. Population figures are derived from the U.S. Bureau of the Census' Population Clock.
The Outstanding Public Debt as of 12 Jul 2006 at 12:10:24 AM GMT is:
$ 8 , 4 1 7 , 8 2 7 , 0 1 2 , 5 4 7 . 1 4
The estimated population of the United States is 299,084,213
so each citizen's share of this debt is $28,145.34.
The National Debt has continued to increase an average of
$1.71 billion per day since September 30, 2005! Obviously the tax cuts and the jobs that have been created for people in the services industry are really helping the economy.
Morning Edition, March 16, 2006 · Faced with a potential government shutdown, the Senate votes to raise the nation's debt limit for the fourth time in five years. The bill passed by a 52-48 vote, increasing the ceiling to $9 trillion. President Bush will sign the bill later this week.
The debt now stands at more than $8.2 trillion.
Like many cash-strapped Americans who have maxed-out credit cards, the federal government has hit its limit for borrowing funds to keep operating. If the limit isn't raised, the government likely will run out of borrowing authority within days, risking a shutdown.
When President Bush took office five years ago, the national debt was at $5.6 trillion; since then, big budget surpluses have collapsed into huge deficits, and the debt has shot up nearly 50 percent.
(CBS/AP) WASHINGTON, Nov. 19, 2004 President Bush signed legislation on Friday raising the government's debt limit by $800 billion and clearing the way for Congress to send him an overdue $388 billion spending bill to finance most federal agencies.
The new federal borrowing cap is $8.18 trillion; that's 70 percent the size of the entire U.S. economy, and more than $2.4 trillion higher than the debt Mr. Bush inherited upon taking office in 2001.
WASHINGTON (CNN) -- President Clinton announced Wednesday that the federal budget surplus for fiscal year 2000 amounted to at least $230 billion, making it the largest in U.S. history and topping last year's record surplus of $122.7 billion.
