November 08, 2007Contact: Andrew Davis
E-mail: andrew.davis@lp.orgOffice: 202-333-0008 ext. 225
Mobile: 202-731-0002

FROM THE LIBERTARIAN PARTY:    

Libertarian Party Hammers GOP on $9 Trillion

National Debt

Says fiscal conservatism is dead within the Republican Party

Quick Quotes:
William Redpath, National Chairman, Libertarian Party
•    «The fact that the national debt has risen by more than 800 percent in an era dominated by Republican presidents will be the obituary for fiscal conservatism in the Republican Party.»
•    «Americans want a choice for leaders of their country. But they’re not going to find it between Republicans and Democrats.»

Shane Cory, Executive Director, Libertarian Party
•    «The numbers don’t lie. Aside from a general disagreement in social philosophy and foreign policy, there is no real difference between the Republican and Democratic parties.  And even those traditional differences are waning.»
•    «Rudy Giuliani and Hillary Clinton might as well be the same candidate.» 

 

Washington, D.C. – The national Libertarian Party issued a scathing criticism of the Republican Party’s fiscal performance after the Treasury Department’s announcement that the national debt had reached an all-time record of $9 trillion this week. «The fact that the national debt has risen by more than 800 percent in an era dominated by Republican presidents will be the obituary of fiscal conservatism in the Republican Party,» says William Redpath, national chairman of the Libertarian Party.

It took from George Washington to Ronald Reagan for the national debt to hit the $1 trillion mark–a period of more than 190 years.  Now, 27 years later, the national debt has risen more than 800 percent under three Republican and one Democratic presidents. However, only $1.2 trillion of national debt was accrued during President Bill Clinton’s administration, meaning the bulk of national debt comes from Republican administrations.

«It’s tragically ironic that Republicans have crucified themselves on their own cross of fiscal irresponsibility,» says Redpath. «Even Reagan, who has been deified by Republicans as the stalwart of conservatism, ran deficits and vastly expanded the size of government.  When it comes down to brass tacks, Republicans of the last three decades can talk the talk, but have never walked the walk.  A nine trillion dollar national debt is what happens when a political party fails to abide by its own standards of fiscal responsibility.»

At the end of the fiscal year 1981, the national debt was $997 billion, according to the Treasury Department’s Web site.  By the time George W. Bush became president, the national debt had soared to more than $5.5 trillion.  The national debt is now at $9 trillion. 

«The numbers don’t lie,» says Shane Cory, executive director for the Libertarian Party. «Aside from a general disagreement in social philosophy and foreign policy, there is no real difference between the Republican and Democratic parties.  And even those differences are waning. This is especially true when comparing the two parties’ presidential frontrunners, Rudy Giuliani and Hillary Clinton.  Giuliani and Clinton might as well be the same candidate.»

«Americans want a choice for leaders of their country,» Redpath concluded. «But they’re not going to find it between Republicans and Democrats.  The Libertarian Party is the only viable third party that offers a proven dedication to fiscal responsibility.»

In this week’s election, the Libertarian Party won an incredible 17 percent of all their races across the nation, according to initial reports of known races.  The party uses this as an indication of a growing desire of the American public for libertarian-oriented candidates who believe in fiscal responsibility. 

The Libertarian Party is America’s third largest political party, founded in 1971 as an alternative to the two main political parties.  You can find more information on the Libertarian Party by visiting www.lp.org. The Libertarian Party proudly stands for smaller government, lower taxes and more freedom.