The U.S. Treasury Department also comes up with a number for how much Americans actually owe, thanks to federal deficits. Are you sitting down? It's a chunky number: $750,000 per household. That's what you get when you take the total commitments of the feds - $49 trillion -and divide them by the number of families.
The Financial Times goes on to note that it took 204 years for the U.S. government to accumulate its first $1 trillion in debt. Now, it adds that much every 18 months. George W. Bush has added more debt than any president who ever lived. In fact, he's added more debt than all the presidents who ever lived...combined.
AND HE STILL THINKS TAXES FOR THE RICH SHOULD BE CUT?
I DON'T THINK ECONOMICS WAS HIS BEST SUBJECT.