The nation's debt leapt $166 billion in a single day last week, the third-largest increase in U.S. history, and it comes at a time when Congress is balking over higher spending and debt has become a key policy battleground.
The one-day increase for June 30 totaled $165,931,038,264.30 - bigger than the entire annual deficit for fiscal year 2007 and larger than the $140 billion in savings the new health care bill will produce over its first 10 years. The figure works out to nearly $1,500 for every U.S. household, or more than 10 times the median daily household income.
Daily debt calculations jump and fall, and big shifts are common. But all three of the biggest one-day debt increases have occurred under the tenure of President Obama, and all of the top six have been in the past two years - an indication of just how quickly the pace of deficit spending has risen under Mr. Obama and President...
If you search, The Heritage Foundation, (heritage.org) you will find a paper from the thoughts of Cal Thomas, October 31, 1996: "Silent Cal Speaks: Why Calvin Coolidge is the Model for Conservative Leadership Today."
It's length does not allow it to fit the established parameters here. Cal Thomas, states that C. Coolidge was a "supply-sider before his time." He show how Silent Cal drastically lowered the tax rate on the rich and provided an overwhelming 'increase' in revenue. At the same time Coolidge greatly lowered the tax burden on the poor. Too bad he did not decide to run for re-election(he had previously won by a landslide, but he looked upon his son's accidental death in office as a sign from God, but I am not sure he gave the full reason, anyways.)
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