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Bush Borrowed More Money Than 42 Presidents Combined

US Politics & Gov't  (tags: Bush, money, borrow, China, Iraq, Afghanistan, presidents )

- 3657 days ago -
I couldn't believe of what I had read. Bush borrowed more money than the amount of money that borrowed by the 42 presidents of the pasts combined. Based on U.S. Treasury, from 1776-2000, the combined borrowed money of the past 42 presidents added up to

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Fred Hoekstra (6772)
Monday March 17, 2008, 6:39 pm
The sad truth, is that if we as a country have to borrow money, it is because we are holding debts that are not our own. Case in point: The National Debt. This was never our Debt, it was based on loans to European countries for reconstruction after World War 2. To date, Great Britain and a couple of small countries have paid us back. France, Russia and Germany haven't even paid the Interest on the loans. The Deficit: Jimmy Carter signed the Monetary Control Act into Law and this meant that we have now assumed the Debts that other countries owe the World Bank. Again, Russia is one of those countries. What can we do about this? I believe that it is time that we either call in all of those Debts, Cancel the Debts or have the countries pay us out of the sale of Exports.....

Robert G (0)
Wednesday March 19, 2008, 9:11 am
What do you think would happen if we did?We owe more now than what is owed to us,thanks to Bush.I believe China has bought us.

Simon Wood (207)
Wednesday March 19, 2008, 10:33 am
Hahaha! Fred, if you try to get those countries to pay you back for the Marshall Plan, they won't pay. If you try that, then the U.S.A. will become even less popular than the low it is at in world opinion now!

The Marshall Plan was to prevent what happened at the end of WW1, to ensure that your defeated enemies didn't make another war against you. The Marshall Plan was especially to ensure that the people of Europe did not turn to socialism, with socialism being quite popular in many European countries at the end of WW2 (especially since the anti-nazi resistance was significantly socialist), such as France, Italy and Germany. If you hadn't given Europe the Marshall Plan, your U.S. empire would have been screwed, and the U.S.S.R. and its allies would have won the cold war. :P Yes, the Marshall Plan was in the self-interest of the U.S. capitalist class - so why in the hell would any country now want to pay you for it? :P

As for U.S. government debt, Bill Clinton left office with the U.S. government having a SURPLUS, not in debt. However, Bush Jr got into office and drained all of that surplus and then got the U.S. into a huge debt, because he cut taxes for the rich as well as spending a huge amount on the war in Iraq.
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