29 January 2010

Since The Democrats Took The House

* The national debt has increased by 41.8%: When the Democrats gained control of Congress in January of 2007, the national debt was$8.67 trillion. It currently stands at a staggering $12.3 trillion. That is an increase of $3.63 trillion.
* The deficit has nearly tripled: From FY 1996-2007, a Republican controlled Congress ran a cumulative deficit of $1.2 trillion. From FY 2008-2010, a Democrat controlled Congress will run a $3.2 trillion deficit.
* The deficit was higher in FY 2009 than in every year from FY 1996-FY 2007 combined: The deficit in FY 2009 was $1.42 trillion. The cumulative deficit from FY 1996-FY 2007 was $1.25 trillion. The FY 2010 deficit is projected to be $1.349 trillion.
* The debt limit has been increased five times: Congress is currently considering proposals to increase the debt limit for a sixth time from $8.965 trillion to $14.29 trillion. If enacted the debt limit will have increased by 59.4% since the Democrats gained power.
* Annual deficits have turned into monthly deficits: On average, in FY 2009 and FY 2010, Congress will run monthly deficits that exceed the annual deficits of the past 12 years.

Source: Congressional Budget Office

Thank a lot Democrats.

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