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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Joe NYC who wrote (131659)	2/6/2001 6:55:07 AM
From: Scumbria	Read Replies (1) \| Respond to of 1570830

Joe, If you purchase a house for $100,000 and take out a 30 year 8% loan on it, what is the actual cost of the house? It is $264,000. When Reagan/Bush took office, the National Debt was $800 billion. When Bush left office, the debt was $3.2 trillion. They borrowed $2.4 trillion. Using the same amortization schedule, the total cost of Reagan/Bush borrowing is $6.3 trillion, with monthly payments of $17 billion. Now consider that Bush is about to destroy the budget, and will likely extend the life of the Reagan/Bush(Sr.) debt to 50 years. This makes the total cost of Reagan/Bush(Sr.) borrowing to be $9.7 trillion. My estimate of Reagan/Bush borrowing was actually too low. Clinton inherited a $300 billion deficit from Reagan/Bush. After 6 years, he turned that to a surplus. I amazed that any level-minded person could defend Reagan on this issue. His behaviour is indefensible. Scumbria