Tuesday, December 12, 2006

wait- money doesn't grow on trees?

Inspired by Corey's blog today, I have decided to reiterate a small fact that I find highly distrubing. I am linking Sean Wilentz's Rolling Stone article from back in April,where I first saw this statistic cited. There are, however, many less inflammatory reports that cite this same statistic because, sadly, it is just plain fact.

Here 'tis:

According to the Treasury Department, the forty-two presidents who held office between 1789 and 2000 borrowed a combined total of $1.01 trillion from foreign governments and financial institutions. But between 2001 and 2005 alone, the Bush White House borrowed $1.05 trillion, more than all of the previous presidencies combined.

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