How Government Debt Consolidates Wealth and Power…

On January 20,1981, the day that the Reagan-Bush regime came to power, the aggregate national debt stood at $1.54 trillion–approximately on that date, $3,786 per capita.

When the subsequent Bush-Quayle regime left office, on January 20, 1993, aggregate debt stood at approximately $14.3 trillion, or approximately $43,570 per capita.

What is interesting to note, however, is that on the day the Reagan-Bush regime came to power, the top 1% of the nation being approximately 3/4 Republican, owned 37% of all of the private wealth in the nation. On that day that the subsequent Bush-Quayle regime left office, said top 1%, still being approximately 75% Republican, as the fraction has been for a hundred years, owned no longer 37% but, indeed, now owned 57% of all of the private wealth in the nation.

There is a direct effect between the issuance of massive amounts of government debt and how it relates to and, indeed, is a key component of the Bushonian agenda, to use the words of George Bush Senior, of the continuous consolidation of power and money into ever higher, tighter and ‘righter’ hands; namely, that when government debt is used as it was, particularly from 1984 to 1992, to pay for an endless series of disproportionate tax cuts wherein the bulk of the value of those tax cuts inured to citizens earning more than $200,000 a year, that that debt is essentially paying for the transfer of wealth, a phenomenon that we are once again seeing under the Bush-Cheney regime.

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