Think the Nation's Debt Doesn't Affect You? Think Again

By John F. Ince, AlterNet. Posted March 20, 2007.

In addition to borrowing from the world's poorest countries, Bush & Co. are secretly confiscating your hard-earned dollars to support their out-of-control spending habits.

Sometime in the next year, Congress will start going through their periodic rituals and related public relations charades in an effort to absolve themselves of any blame for raising of the federal government's debt ceiling.

With Bush and cronies having added over $3 trillion dollars to the national debt, the country's credit card tab now stands at $8.8 trillion. This represents an astounding increase of over 45 percent since Bush came into office in January of 2001. And all this fiscal profligacy took place during the years when the CBO originally forecasted record surpluses of approximately $2.5 trillion. And there is no end in sight to the deficits.