Dave Brumbaugh's editorial in the Post and Courier today points out that the US debt was $5 trillion in 2000, $10 trillion in 2008. Currently it is $14.8 trillion dollars. President Obama's administration has grown the debt by 47% in three years. It took Bush 8 years to spend just a little more than that. The current administration should look within before criticizing the previous administration for it's excesses.
Wrapping my head around 4.8 trillion dollars is not easy..but I'll try. A stack of one thousand million- dollar bills is one billion dollars. 4.8 thousand stacks is 4.8 trillion dollars. Daily... 365 days in a year times 3 is 1095 days. 4.8 trillion divided by 1095 is 4.38 billion dollars a day. In terms of stacks of 1000 million-dollar-bills that is 4.38 stacks of 1000 million dollar bills...in further debt...every day this administration has been in office. The numbers don't lie. Here is Dave's...and now my...question: How long can we afford to spend like this. Thanks, Dave.
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