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| May 12th, 2006 | |
|---|---|
| 01:25 am [Link] |     President Bush and the current administration have borrowed more money from foreign governments and banks than the previous 42 presidents combined, a group of conservative to moderate Democrats said Friday. Blue Dog Coalition, which describes itself as a group "focused on fiscal responsibility," called the administration's borrowing practices "astounding." According to the Treasury Department, from 1776-2000, the first 224 years of U.S. history, 42 U.S. presidents borrowed a combined $1.01 trillion from foreign governments and financial institutions, but in the past four years alone, the Bush administration borrowed $1.05 trillion.(CNSNews.com) |