Wednesday, August 22, 2012

U.S. National Debt Chart: 1776 to 2008

U.S. National Debt Chart: 1776 to 2008

When democratic president Bill Clinton left office. 
The United States was on track to pay down our debt by  2.3 Trillion Dollars by 2011. While still paying for Social Security, Medicare, Food Stamps for the needy...
What happened you ask? Six years of 100% republican control.

George W. Bush with the senate and the congress controlled by a republican super majority. Handed out almost 3 trillion dollars in tax refunds that our country did not even have the money to pay for. Almost all of it went to the top few percent. This is also exactly when borrowing from China started going nuts. The republicans had to pay for their tax gifts to the rich somehow. The republicans also screwed with tax codes that made it more profitable for corporate America to outsource to communist China, India and the like.

So now because of the republican tax cuts for the wealthy the 400 Richest Americans Are Now Richer Than the Bottom 50 Percent Combined. 
Yes, 400 people have more money than 155 million Americans combined. 
The Walmart heirs alone own more wealth than bottom 40 percent of Americans combined.Yet instead of letting taxes go back to the rates they were at before they cut them. They would rather slash our social safety nets that have been in place for decades.

 400 Americans have more wealth than half of all Americans combined
The Walmart heirs alone own more wealth than bottom 40 percent of Americans combined.
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