Bush foreign borrowing highest in US history-- record-breaking foreign debt

Jesselee at Stakeholder posted a release from John Tanner (D-TN) yesterday which got lost in the background of developing news stories on Delay, Abramoff and Libby but which bears some recognition.

According to Tanner, the Bush Administration has borrowed more money from foreign governments and banks than the previous 42 Presidents combined.  More after the fold.

Bush Administration Breaks Record

Bush Administration Breaks Record

Administration Borrows more from Foreign Nations than Previous 42 Presidents Combined

Washington, D.C. - President George W. Bush and the current Administration have now borrowed more money from foreign governments and banks than the previous 42 U.S. presidents combined.

Throughout the first 224 years (1776-2000) of our nation's history, 42 U.S. presidents borrowed a combined $1.01 trillion from foreign governments and financial institutions according to the U.S. Treasury Department. In the past four years alone (2001-2005), the Bush Administration has borrowed a staggering $1.05 trillion.  "The seriousness of this rapid and increasing financial vulnerability of our country can hardly be overstated," said Rep. John Tanner (D-TN)...

There are a few paragraphs which are basically a plug for the Blue Dog Democrats then Tanner concludes the release with the following statement:

"No American political leadership has ever willfully and deliberately mortgaged our country to foreign interests in the manner we have witnessed over the past four years," continued Rep. Tanner. "If this recklessness is not stopped, I truly believe our economic freedom as American citizens is in great jeopardy."

While Tanner places responsibility for this new entry into the Guinness Book of World Records squarely at the feet of the Bush Administration, let's not forget that such a noble undertaking could not have been accomplished without the help of a Republican-controlled Congress.

The Bush Administration with the help of a Republican-controlled Congress, has borrowed more money from foreign governments and banks than the previous 42 U.S. Presidents combined.  

This talking point should be repeated again and again by the Democrats.  It's concise, easy enough for the average busy American to understand and digest and is sure to send a chill down the spine of every fiscally conservative Republican in the country.  It certainly sent a chill down mine. UPDATE: Hat tip to ConcernedAmerican for the title change of the diary.