Study finds Republican Presidents responsible for 70% of the U.S. National Debt According to a new study completed by the Libertarian Party of Pennsylvania, Republican Presidents are responsible for $5.1 trillion (70%) of the total $7.4 trillion U.S. National Debt. GOP incumbent George W. Bush is personally responsible for 23% or $1.7 trillion, in just 4 short years. G.W. Bush also leads the list for average annual debt with a whopping $426 billion, more than twice that of both Ronald Reagan and Bill Clinton. "This report illustrates the hypocrisy of the GOP's claim of being fiscally conservative and responsible," stated David Jahn, chairman of the LPPA and candidate for Congress in the 7th District. Rich Piotrowski, LP candidate for Congress in the 15th District noted, "U.S. presidents have the ability and responsibility to use their veto power to send unbalanced budgets back to congress. Unfortunately for the American people, Republican and Democratic presidents have consistently abandoned their fiscal duty." Debt by President | 1. George W. Bush | $1.7 trillion in 4 years | Republican | | 2. Ronald Reagan | $1.7 trillion in 8 years | Republican | | 3. Bill Clinton | $1.6 trillion in 8 years | Democrat | | 4. George Bush (Sr.) | $1.5 trillion in 4 years | Republican | Average Annual Debt by President | 1. George W. Bush | $426 billion per year | Republican | | 2. George Bush (Sr.) | $366 billion per year | Republican | | 3. Ronald Reagan | $209 billion per year | Republican | | 4. Bill Clinton | $201 billion per year | Democrat | "Any way you slice it, GOP Presidents cannot shirk their responsibility for this massive amount of red ink," stated Russ Diamond, LP candidate for U.S. House in the 17th District. "The GOP-led House and Senate are complicit as well. They've had control for ten years and can no longer simply push the blame on the Democrats. It's a shame they've strayed so far from the core values of traditional Republican voters." "Republicans guarantee a legacy of debt for our children," stated U.S. Senate candidate Betsy Summers. "Libertarians offer the only viable alternative for fiscal conservatives." The LPPA is urging all Republican voters in Pennsylvania to re-examine their choices in 2004 with an eye on traditional fiscal conservatism and responsibility. The 25 Libertarian candidates on the ballot have united in calling for an end to the "generational theft" sponsored primarily by GOP presidents over the last 24 years. "It seems downright un-American to me," added Diamond. "I always thought we wanted to make things better for our children, not worse." The Libertarian Party is the third largest political party in the United States with over 600 officials serving in office throughout the nation. Please visit www.LP.org or www.LPPA.org for more information on the Libertarian Party. www.publicdebt.treas.gov/opd/opd.htm ###
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