The Legacy of George W. Bush
The Legacy of George W. Bush
1. National Debt
2. Education deficit
3. National Reputation
4. Trade Deficit
5. National Assets
6. National Church
7. Armed Forces
8. Social Security
9. Medicare
10. Poverty
11. Health Insurance
12. Labor Relations
13. Economy [All subject to revision and supplementation]
14. National Infrastructure
15. Human Relations
16. Liberty and Freedom
George W. Bush serving as the 43rd president of the United States has four more years to complete the construction of the Legacy he will leave upon retirement.
Therefore, this assessment of that legacy may need to be altered. However, his public statement made the day after his recent re-election advised the nation that his second term would be a continuation of the program he has followed during the last four years. If he does this, his true legacy will as listed here but simply extrapolated to fit the longer term.
We will not attempt to place the features of his legacy in any order of importance or in extent of influence they will exert on future generations. Neither will we attempt to evaluate and place in order of magnitude of their influence they will exert on the spirit and morale of the individuals or groups making up our population. Therefore we have placed the items in alphabetical order.
An item in the news of the day concerned the fact that it will be necessary to increase the debt limit by November 18th or the nation will not be able to borrow any money or pay any of its bills. To avoid this a special session of the congress will proceed to increase the present limit of $7,384 trillion by $690 billion to a new limit of $8,074 trillion. The news report includes an advisory that the limit will probably have to be increased further within a year or two.
This limit is not the amount of our national debt. It is simply a limit on the debt that may be incurred. The real National Debt of the United States is now $ 7,453,000,000. As this figure is difficult to comprehend we have converted it to a per capita figure of $2,546,687.28 for each person living in the United States. It is not expected that many individuals will write a check to the Treasury Department to pay up their portion of the debt. We will simply recognize it as a debt we owe and pay the interest on it each year.
The amount of interest we pay will be determined by the rate of interest payable on the Bonds and Notes sold by the Treasury Department to raise the funds represented by the national Debt figure. For those persons interested in knowing how much interest the nation will pay each year we can advise that the average rate paid to purchasers of our notes and bonds is 3.0763%. Applying this to the current per capita debt we find that the annual amount we will pay this year will be approximately $185,089,774.53. The U S Treasury will pay this interest to the holders of the notes and bonds out of the funds it has collected as taxes, fees, import duties and from various other sources.
1. National Debt
2. Education deficit
3. National Reputation
4. Trade Deficit
5. National Assets
6. National Church
7. Armed Forces
8. Social Security
9. Medicare
10. Poverty
11. Health Insurance
12. Labor Relations
13. Economy [All subject to revision and supplementation]
14. National Infrastructure
15. Human Relations
16. Liberty and Freedom
George W. Bush serving as the 43rd president of the United States has four more years to complete the construction of the Legacy he will leave upon retirement.
Therefore, this assessment of that legacy may need to be altered. However, his public statement made the day after his recent re-election advised the nation that his second term would be a continuation of the program he has followed during the last four years. If he does this, his true legacy will as listed here but simply extrapolated to fit the longer term.
We will not attempt to place the features of his legacy in any order of importance or in extent of influence they will exert on future generations. Neither will we attempt to evaluate and place in order of magnitude of their influence they will exert on the spirit and morale of the individuals or groups making up our population. Therefore we have placed the items in alphabetical order.
An item in the news of the day concerned the fact that it will be necessary to increase the debt limit by November 18th or the nation will not be able to borrow any money or pay any of its bills. To avoid this a special session of the congress will proceed to increase the present limit of $7,384 trillion by $690 billion to a new limit of $8,074 trillion. The news report includes an advisory that the limit will probably have to be increased further within a year or two.
This limit is not the amount of our national debt. It is simply a limit on the debt that may be incurred. The real National Debt of the United States is now $ 7,453,000,000. As this figure is difficult to comprehend we have converted it to a per capita figure of $2,546,687.28 for each person living in the United States. It is not expected that many individuals will write a check to the Treasury Department to pay up their portion of the debt. We will simply recognize it as a debt we owe and pay the interest on it each year.
The amount of interest we pay will be determined by the rate of interest payable on the Bonds and Notes sold by the Treasury Department to raise the funds represented by the national Debt figure. For those persons interested in knowing how much interest the nation will pay each year we can advise that the average rate paid to purchasers of our notes and bonds is 3.0763%. Applying this to the current per capita debt we find that the annual amount we will pay this year will be approximately $185,089,774.53. The U S Treasury will pay this interest to the holders of the notes and bonds out of the funds it has collected as taxes, fees, import duties and from various other sources.
posted by Jeremiah | 4:47 PM
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