logo

Republicans and Democrats: champions of debt

image
Created: 12 August, 2010
Updated: 13 October, 2022
2 min read

Since 2001, Republicans and Democrats have added nearly $8 trillion of new debt.  Bush added almost $5 trillion, and Obama's already contributed nearly $3 trillion of additional debt just 19 months into his presidency. 

Bush, a Republican Congress (for 6 years), and a Democratic Congress (for 2 years), spent trillions on overseas wars, domestic programs, Wall St bailouts, and various stimulus packages.  Obama and a Democratic Congress have spent trillions on domestic programs, overseas wars, state bailouts, housing bailouts, automaker bailouts, and a record stimulus package. 

As it stands now, the U.S. national debt sits at approximately $13.3 trillion, which amounts to about $43,000 of debt per citizen and $120,000 of debt per taxpayer. 

And what do we have to show for it, nearly 10 years later? 

16.5% effective unemployment (govt's U6 statistic) 

A weaker Dollar 

Millions of jobs lost 

A commercial and residential real estate bust 

IVP Existence Banner

A stagnant stock market (in nominal terms; lower in real terms) 

A record number of Americans on food stamps 

$1 trillion+ ongoing overseas wars 

Worst income gap disparity in 80 years 

An education system that ranks in the middle of the pack of industrialized nations 

Increased reliance upon China for debt financing 

Worst economy since the Great Depression 

Based on such a clear-cut track record, most objective observers would acknowledge that the two-party policies have proven to be unsuccessful over the last decade.  So-called "mainstream" candidates of the "mainstream" parties have not delivered the goods for the American people, despite a plethora of campaign promises to the contrary. 

IVP Existence Banner

Perhaps the time has come for Americans to re-evaluate their decisions at the polls, forsake the status quo, and explore alternative political solutions. 

The growing thirst for an Independent third party (as reflected in recent polls) and the explosion in Independent voter registration may be the first positive signs that Americans are finally beginning to recognize the unsustainable bankruptcy of the Republican-Democrat duopoly.

Latest articles

Voter
Independent Voters Are Many Things -- A Myth Isn't One of Them
Open Primaries continued its ongoing virtual discussion series Tuesday with a conversation on independent voters, who they are, and why we have a system that actively suppresses their voices at every level of elections and government....
08 May, 2024
-
2 min read
RFK Jr
RFK Jr Challenges Trump to Debate; Calls Out 'Fake Polls'
Independent presidential candidate Robert F Kennedy extended a challenge Tuesday to former President Donald Trump to debate him at the Libertarian National Convention at the end of May....
07 May, 2024
-
3 min read
South Dakota Capitol Building
South Dakota Open Primaries Submits 47K Signatures to Get Nonpartisan Primary Reform on the Ballot
One week after the Idahoans for Open Primaries coalition submitted roughly 30,000 more signatures than they needed to get a nonpartisan top-four primary system on the ballot, South Dakota Open Primaries met the required number of signatures in their own state to put a top-two system before voters....
07 May, 2024
-
4 min read