September 20, 2005

From Andrew Tobias:

At $8 trillion now, our National Debt – accumulated since 1776 – will have reached $10 trillion or so by the time President Bush leaves office. Of this, roughly $8 trillion will have been racked up under just three presidents: Ronald Reagan, George Bush, and George Bush.

Oy Vey.

Tobias, however, provides no citation for this set of facts, nor a breakdown of under which presidents the bulk of this debt accrued, nor a breakdown of how much of it is due to servicing previous debt and how much is due simply to deficit spending.

Not that it isn't a staggering sum of money.

Posted by esinclai at September 20, 2005 10:15 PM |