The Swamp reports today that “on the last day of September, the national debt hit $10 trillion plus,” as the “gross national debt as a percentage of the gross domestic product has, under the Bush Administration, hit a 50-year high. The debt grew the fastest under supply-siders Ronald Reagan, George H.W. Bush, and George W. Bush:
The debt was $5.7 trillion when Bush took office; the bailout legislation passed by the Senate last night would raise the debt ceiling further to $11.315 trillion. The Wonk Room has more.
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