Corvette Forum : DigitalCorvettes.com Corvette Forums banner

1 - 5 of 5 Posts

·
Banned
Joined
·
31,366 Posts
Discussion Starter #1
Or $3.66 Billion Per Day

(CNSNews.com) - In the 1,461 days that Rep. Nancy Pelosi (D.-Calif.) served as speaker of the House, the national debt increased by a total of $5.343 trillion ($5,343,452,800,321.37) or $3.66 billion per day ($3.657,394,113.84), according to official debt numbers published by the U.S. Treasury.

Pelosi was the 52nd speaker of the House. During her tenure, she amassed more debt than the first 49 speakers combined.

The total national debt did not climb above $5.343 trillion (the amount amassed during Pelosi’s four years as speaker) until Feb. 26, 1997, when Rep. Newt Gingrich (R.-Ga.) was serving as the nation’s 50th House speaker.

When Pelosi was sworn in on Jan. 4, 2007, the national debt stood at $8,670,596,242,973.04. At the close of business on Jan. 4, 2011, her last full day in the speakership, it stood at 14,014,049,043,294.41--an increase of $5,343,452,800,321.37.

Pelosi served as speaker for four full years, including one leap year, making her time in that office 1,461 days. On average, the federal government added $3.66 billion ($3,657,394,113.84) in new debt for each of those days.

Pelosi not only outstripped her predecessors in the total volume of debt added to the national debt during her tenure as speaker, but also in the rate at which new debt was added. In fact, Pelosi added debt at a rate more than three times faster than her nearest competitor.

House Speaker Dennis Hastert (R.-Ill.), who served from Jan. 6, 1999 to Jan. 3, 2007, saw $3.06 trillion ($3,061,785,703,851.74) in new debt added during his tenure, which is more than during any other speakership other than Pelosi’s. But Hastert’s tenure lasted 2,920 days, with the national debt increasing by an average of $1.05 billion ($1,048,556,747.89) for each of those days.

House Speaker Newt Gingrich added $812.4 billion ($812,423,595,162.98) in new debt during a speakership of 1,461 days. The national debt accumulated during Gingrich’s tenure at an average rate of $556 million per day ($556,073,644.88).

When Pelosi became speaker in January 2007 she was emphatic that there would be no new deficit spending.

"After years of historic deficits, this 110th Congress will commit itself to a higher standard: Pay as you go, no new deficit spending,” she said in her inaugural address from the speaker’s podium. “Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt."

Here are the national debt figures for the speakership terms of Rep. Nancy Pelosi and her two immediate predecessors:

Speaker Nancy Pelosi

Jan. 4, 2007 $8,670,596,242,973.04

Jan. 4, 2011 $14,014,049,043,294.41

New debt added: $5,343,452,800,321.37

Total days served: 1,461 days

Debt added per day: $3,657,394,113.84



Speaker Dennis Hastert

Jan. 6, 1999 5,615,428,551,461.33

Jan. 3, 2007 8,677,214,255,313.07

New debt added: 3,061,785,703,851.74

Total days served: 2,920

Debt added per day: 1,048,556,747.89


Speaker Newt Gingrich

Jan. 4, 1995 4,801,793,426,032.89

Jan. 3, 1999 5,614,217,021,195.87

New debt added: 812,423,595,162.98

Total days served: 1,461

Debt added per day: 556,073,644.88

http://cnsnews.com/news/article/final-tab-pelosi-s-speakership-534-trill
 

·
Registered
Joined
·
25,253 Posts
What you didn't mention is that she and her friends wear these numbers like a badge of honor. To them government spending is the be-all and end-all of serving in congress. They pretend that they want to spend because it helps the poor and middle classes. Actually, they spend because it creates dependencies and the resulting dependable voter groups. If they can slowy but surely get 51% of Americans to feel that their survival depends on this government spending -- they will have a permanent majority, and the 49% of productive Americans will essentially be slaves to the 51%. :down:
 

·
Banned
Joined
·
31,366 Posts
Discussion Starter #3
What you didn't mention is that she and her friends wear these numbers like a badge of honor. To them government spending is the be-all and end-all of serving in congress. They pretend that they want to spend because it helps the poor and middle classes. Actually, they spend because it creates dependencies and the resulting dependable voter groups. If they can slowy but surely get 51% of Americans to feel that their survival depends on this government spending -- they will have a permanent majority, and the 49% of productive Americans will essentially be slaves to the 51%. :down:
Well, with $14 trillion in debt, interest payments approaching half a trillion per year.. it won't matter if they want to spend. Supermajority or not, at some point normal folks are gonna figure out that they are fools for contributing to a system that rewards bad behavior.. then it will get interesting.
 

·
Registered
Joined
·
25,253 Posts
Well, with $14 trillion in debt, interest payments approaching half a trillion per year.. it won't matter if they want to spend. Supermajority or not, at some point normal folks are gonna figure out that they are fools for contributing to a system that rewards bad behavior.. then it will get interesting.
:agree: We are kind of at that point now, but there is a big hurdle to get over to make all of this actually work. Almost everyone agrees we must cut back on entitlement spending in some way. That must include Medicare, Medicaid, and Social Security spending. That means all of us will sooner or later be affected. In general, Americans are good at approving spending cuts until the cuts come their way, then they (we) scream bloody murder. We won't truly be on the path of financial healing until we spread the pain to every single American and make painful spending cuts and reform the tax system to make it more fair. As much as I hate taxes, I will pay more to help fix our financial situation if a) spending cuts are made that affect everyone at least a little, and 2) everyone contributes at least something to the tax increase. It's time to end these class warfare games where we divide the country and pit one group against another. We need leadership who will convince everyone that a decade or two of austerity are necessary to preserve our union for our grandchildren, that we are all in this together, and that we must all make some sacrifice to get back on solid financial ground. :cheers:
 

·
Registered
Joined
·
12,410 Posts
Well, with $14 trillion in debt, interest payments approaching half a trillion per year.. it won't matter if they want to spend. Supermajority or not, at some point normal folks are gonna figure out that they are fools for contributing to a system that rewards bad behavior.. then it will get interesting.
Yeah, I wouldn't mind seeing a few of those heads on a stick, a la Mussolini...how'd state facism work out for him? :laughing:
 
1 - 5 of 5 Posts
Top