The Bush Administration has borrowed more money in the last eight years than all U.S. Presidents combined have borrowed in the previous 219 years. It also borrowed more money from foreigners that all previous Presidents combined.
The U.S.audit will be released on December 15th. It is the Financial Report of the U.S. Government, issued by the U.S. Treasury and signed by Secretary Henry Paulson. It is the only official government document that uses audited, accrual accounting to describe America’s financial position.