During Dubys's reign, the debt had more than doubled or increased 100+%. If that trend continues (doubling the debt every 8 years), and I certainly expect it will, we will be over $20 trillion in debt by 2016. That is a conservative estimate based on the hope that interest rates do not rise above their historically low present rates. I say hope because I do not really expect that to last. We are already borrowing more money just to pay the interest on the $10 trillion debt left over from 2008.
The only way we will ever get off this run away train is to slash spending--- AND raise taxes back to the historical levels when the country was solvent.
<quoted text>The country wasn't $16T in debt then, although the pork spending then did help in a small way to get us there. Can someone not take a stand against frivolous spending or is it just because a Republican took the stand?
Just the other day (D) Sen Mary Landrieu, La, said on capital hill that we, the govt, didn't have a spending problem! WTF!?!