“After years of historic deficits, this 110th Congress will commit itself to a higher standard: Pay as you go, no new deficit spending,” Nancy Pelosi said in her inaugural address from the speaker’s podium. “Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt.”
How well did she do, and is all of this the fault of George W. Bush?
Let us look at the numbers.
When Bush was sworn in on January 20, 2001, the national debt was $5,727,776,738,304.64. Dennis Hastert was the speaker of the house.
When Pelosi was sworn in on January 4, 2007, the national debt was $8,670,596,242,973.04.
When Bush left office on January 20, 2009, the national debt was $10,626,877,048,913.08.
When Pelosi left office on January 24, 2011, the national debt was $14,014,049,043,294.41.
The estimated National debt Feb 12, 2012 is $15,368,215,367,669.46.
The average debt added per day during Bush/Hastert 2175 days was $1.353 billion
The average debt added per day during Bush/Pelosi 741 days was $ 2.640 billion
The average debt added per day during Obama/Pelosi 714 days was $ 4.744 billion.
The average debt added per day during Obama/Boehner so far is about 3.52 billion.
In short: Republican President and Republican house is horrendous. Republican President and Democrat house is horrendous times two. Democrat President and Democrat house is horrendous times three and a half. Democrat President and Republican house has failed so far to make a dent in the increase. I am pinning my hope on Sarah Palin and the Tea Party. So far she has not entered the race. If there is a brokered convention anything can happen.
Sarah Palin vetoed over 500 million dollars of legislation during her term as Governor of Alaska in a time of revenue surplus. Even with that she enjoyed an approval rating of over 80%, earning her the title “The most popular Governor in America”.