bmac32 wrote:
President George W. Bush and Republicans in Congress (with help from Democrats) enacted an ambitious tax cut package in June. And by the end of July the Treasury Department was mailing out tax rebate checks. On Aug. 1, 2001, Treasury officials announced they would be borrowing $51 billion to pay bills.
The total outstanding public debt on on July 31, 2001 was about $5.7 trillion. The total outstanding debt today more than $17.2 Trillion.
One can only imagine if Pres. Obama had a working Congress to supply a jobs bill that would produced more revenue to help pay the bills how much different the numbers would be.