Monday, February 21, 2022, Presidents’ Day. The Debt Burden imposed by President Clinton

Presidents’ Day is a federal holiday celebrated on the third Monday in February; Presidents’ Day 2022 occurs on Monday, February 21.

Originally established in 1885 in recognition of President George Washington, the holiday became popularly known as Presidents’ Day after it was moved as part of 1971’s Uniform Monday Holiday Act, an attempt to create more three-day weekends for the nation’s workers. While several states still have individual holidays honoring the birthdays of Washington, Abraham Lincoln and other figures, Presidents’ Day is now popularly viewed as a day to celebrate all U.S. presidents, past and present.

The story of Presidents’ Day date begins in 1800. Following the death of George Washington in 1799, his February 22 birthday became a perennial day of remembrance.

The Uniform Monday Holiday Act also included a provision to combine the celebration of Washington’s birthday with that of Abraham Lincoln, which fell on February 12. Lincoln’s Birthday had long been a state holiday in places like Illinois, and many supported joining the two days as a way of giving equal recognition to two of America’s most famous statesmen.

Washington and Lincoln still remain the two most recognized leaders, but Presidents’ Day is now popularly seen as a day to recognize the lives and achievements of all of America’s chief executives. Some lawmakers have objected to this view, arguing that grouping George Washington and Abraham Lincoln together with less successful presidents minimizes their legacies.

In its modern form, Presidents’ Day is used by many patriotic and historical groups as a date for staging celebrations, reenactments and other events. A number of states also require that their public schools spend the days leading up to Presidents’ Day teaching students about the accomplishments of the presidents, often with a focus on the lives of Washington and Lincoln.

On Monday, February 21, 2022, while celebrating the Presidents’ Day, I remind the Nation about the legacy of William Jefferson Clinton, the 42nd US President. Bill Clinton’s Presidential Term: January 20, 1993 – January 20, 2001.

1995-1999

• Outstanding debt in 1995: $4.97 trillion
  • Debt adjusted for inflation: $8.39 trillion
• Outstanding debt in 1999: $5.66 trillion
  • Debt adjusted for inflation: $8.72 trillion

Change in debt between 1995-1999: 13.72%
Change in debt adjusted for inflation: $337.54 billion

2000-2004

• Outstanding debt in 2000: $5.67 trillion
  • Debt adjusted for inflation: $8.47 trillion
• Outstanding debt in 2004: $7.38 trillion
  • Debt adjusted for inflation: $10.04 trillion

Change in debt between 2000-2004: 30.05%
Change in debt adjusted for inflation: $1.57 trillion

Bill Clinton rejected the Promises of Prosperity and embraced the Curses of Indebtedness the LORD imposed for acts of Disobedience.

U.S. National Debt Clock February 2022

An Overview of the United States National Debt

The Current Outstanding Public Debt of the United States is:

$27,752,835,868,445.35

Last Updated: Monday, February 21st, 2022

Which Foreign governments own the most U.S. debt?

Answer: Here is the Top 10 (as of Sep/2019)

1. Japan, $1145.8 billion dollars
2. China, Mainland, $1102.4 billion dollars
3. All Other, $484.8 billion dollars
4. United Kingdom, $346.2 billion dollars
5. Brazil, $301.2 billion dollars
6. Ireland, $274.1 billion dollars
7. Luxembourg, $252.5 billion dollars
8. Cayman Islands, $238.7 billion dollars
9. Switzerland, $231.3 billion dollars
10. Hong Kong, $224.2 billion dollars

Of the $5.1 trillion dollars of US debt that is owned by foreign governments, China and Japan own nearly half, as evidenced by this chart:

America’s national debt surpasses $30 trillion for the first time

Skyrocketing pile of debt

The federal government now owes almost $8 trillion to foreign and international investors, led by Japan and China. Eventually, that will need to be paid back, with interest.

“That means American taxpayers will be paying for the retirement of the people in China and Japan, who are our creditors,” said Kelly.

The $30 trillion national debt figure is somewhat inflated by the fact that a chunk of the money is owed by the government to itself. This is debt held in Social Security and other government trust funds. So-called intragovernmental holdings total more than $6 trillion.

The United States must reflect upon the actions of the 42nd President that violate the LORD’ s Commandments. The Welfare Reform Act of 1996 enacted by President Bill Clinton reintroduced Slavery into the United States nullifying President Abraham Lincoln’s Proclamation that abolished Slavery.