Tuesday, December 18, 2007

Drunken Frat Boy's Credit Card Balance: $32 Trillion

Too bad we didn't elect as president somebody with a financial background like an MBA. Had we we may not have accrued $32 billion in debt during the Bush/Cheney Administration. Oh well, maybe next time we might be a bit smarter. Don't bet on it.

U.S. Comptroller David Walker, the only man in the U.S. Government with any real fiscal sense, reported that the federal government's fiscal exposures was about $20 trillion as of September 30, 2000. Now, federal government's fiscal exposures totaled approximately $53 trillion as of September 30, 2007. Do the math.

Not only has George Bush made a fool of himself with his international bungling and idiotic war, but he has bled the family back home. Walker reports that a typical American family has $455,000 debt to repay for his madness. That's $175,000 for every child in this nation.

A drunken frat boy. He still is. Why did we expect something different? The pattern was set during his adolescent years and that is very hard to change. A drunken frat boy with a credit card with no spending limit. And he still has another whole year to spend.

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