Bush mortgaging country to foreign interests, worse than all previous president's combined

President Bush and the current administration have borrowed more money from foreign governments and banks than the previous 42 presidents combined, a group of conservative to moderate Democrats said Friday.

Blue Dog Coalition, which describes itself as a group "focused on fiscal responsibility," called the administration's borrowing practices "astounding."

According to the Treasury Department, from 1776-2000, the first 224 years of U.S. history, 42 U.S. presidents borrowed a combined $1.01 trillion from foreign governments and financial institutions, but in the past four years alone, the Bush administration borrowed $1.05 trillion.

"The seriousness of this rapid and increasing financial vulnerability of our country can hardly be overstated," said Rep. John Tanner (D-Tenn.), a leader of the Blue Dog Coalition and member of the House Ways and Means Committee.

"The financial mismanagement of our country by the Bush Administration should be of concern to all Americans, regardless of political persuasion," said Tanner in a press release.