Skip to comments.Debt Up $1.59T Under GOP HouseóMore in 15 Months Than First 97 Congresses Combined
Posted on 06/03/2012 4:59:31 AM PDT by harpu
The Republican-controlled House of Representatives, which took office in January 2011, has enacted federal spending bills under which the national debt has increased more in less than one term of Congress than in the first 97 Congresses combined.
In the fifteen months that the Republican-controlled House of Representatives--led by Speaker John Boehner--has effectively enjoyed a constitutional veto over federal spending, the federal governments debt has increased by about $1.59 trillion.
Article 1, Section 9, Clause 7 of the Constitution says: No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law. A law appropriating money cannot be enacted unless it is approved by the House.
The approximately $1.59 trillion in new debt accumulated since the Republican-controlled House gained a veto over federal spending legislation is more than the total increase in the federal debt between 1789, when the first Congress convened, and October 1984, when the 98th Congress was nearing the end of its second session.
Rep. Frederick Muhlenberg of Pennsylvania served as speaker in the first Congress. Rep. Tip ONeill of Massachusetts served his third term as speaker in the 98th Congress.
When Boehner became speaker on Jan. 5, 2011, the federal government was operating under a continuing resolution that had been passed on Dec. 21, 2010 by a lame-duck Congress. That CR expired on March 4, 2011.
On March 1, 2011, Boehner agreed to a new short-term spending deal with President Barack Obama and Democratic congressional leaders to keep the government running past the March 4, 2011 expiration of the old CR. Since March 4, 2011, federal expenditures have been carried out under a series of CRs approved by both the Republican-controlled House and the Democrat-controlled Senate and signed into law by President Obama.
At the close of business on March 4, 2011, the total federal debt was $14,182,627,184,881.03, according to the Treasury Department's Bureau of the Public Debt. At the close of business on May 31, 2012, it was 15,770,685,085,364.14. That is an increase of $1,588,057,900,483.11in just 15 months.
All of the debt accumulated by the federal government throughout the history of the country did not exceed $1.588 trillion until October 1984.
Under the Republican-controlled House, the federal debt has been increasing at an average pace of about $105.9 billion per month.
Frederick Muhlenberg served two non-consecutive terms as speaker--in the first and third Congresses. At the end of the first Congress, in 1791, the total debt of the federal government was about $75.5 million, according to the U.S. Treasury.
Tip ONeill served as speaker in the 95th through 99th Congresses, from 1977 through 1986.
At the end of September 1984, during the 98th Congress, the total national debt was approximately $1,572,266,000,000.00, according to the Treasury Departments Monthly Statement of the Public Debt for that month. At the end of October 1984, it was $1,611,537,000,000.00, according to the Monthly Statement of the Public Debt.
$4.7 trillion? this is just inaccurate. the national debt was $4.7 trillion in roughly 1994.
$6 trillion was the number i remembered off the top of my head... and after looking it up, i found that it was about $5.7 trillion when GW took office.
by Jan 2007, GW's first 6 years, the US debt was roughly $8.6 trillion... an increase of ~$2.9 trillion, or $433 billion/yr
from there, as the dems took over in Jan 2007, the debt climbed to roughly $10.2 trillion by Jan 2009. an increase of $1.6 trillion, or $800 billion/yr
from Jan 2009, when 0failure took over, the debt has jumped to $15.8 trillion today. that's an increase of $5.6 trillion in a little over 3 years. this would be about $1.86 trillion/year... or FOUR TIMES the spending rate of GW and the GOP congress in 2001-2007. it's also more then DOUBLE the spending of the dem congress of 2007-2009.
2000 - 2010 http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm
1950 - 1999 http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm
There is a large contingent on the right which is determined to kill and eat our own at any cost.
We have seen Bachmann, Ryan, Cantor, Herman Cain, etc. etc. etc. all hailed as Messiahs on the right and then a few short weeks later contemptuously labeled as "RINO". This will happen for anyone they raise up as their hero.
Because no one can survive the expection of perfection this group has.
As for me, I'm glad Boehner has blocked Obama from far worse things. He is a "holding" tool who can not proceed forward until he gets cooperation in the Senate and WH. The Senate is front and center to blame for no new budget, not the House.
But Boehner will continue to be considered something akin to Satan himself by the purists on the right.
You’re too sad for words...just STFU.
I’m not the one helping re-elect Obama and the Dems by trashing Republicans. The MSM doesn’t need your help, especially on a supposed conservative website.
I would suggest you take your own advice....for your country’s welfare.
I guess you didn’t notice the ;) at the end. That is a wink. In other words the post was meant as sarcasm. I actually agree with you
My mistake...please accept my apology.
I try to get the posts right, but I do fail occasionally.
Thanks for the support!
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