Of The Last 2 Presidents, Which Has Caused More National Debt?
ProVega
2012/05/21 20:04:32
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17 votes
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53% | ||
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11 votes
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34% | ||
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4 votes
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13% | ||
Anyone running for office on the Bush fiscal policies should have this etch-a-sketched onto their speaker’s notes
Note: these numbers assume National Debt as of 1 year ago. Hence, they don’t show expected peace dividends from the Iraq and Afghanistan wars, or revised economic growth projections, and it assumes the Bush tax cuts will be renewed in their entirety.
Note: these numbers assume National Debt as of 1 year ago. Hence, they don’t show expected peace dividends from the Iraq and Afghanistan wars, or revised economic growth projections, and it assumes the Bush tax cuts will be renewed in their entirety.
http://www.politifact.com/tru...
It's also important to note that financial policy is inherited. Debt and the mechanisms causing it didn't suddenly nullify once Obama took office. Every President for the past few decades has added more spending to their predecessor's financial policy. Guess who added more than any other President, accounting for terms? (Hint: Obama added the least)
Bush's (both), Reagan's, etc. tax cuts for the wealthy, meant to spur "job creators" into creating jobs. The only thing is, it resulted in no American jobs. Instead, they were influenced to send more jobs overseas and to pocket the cash they got. Plus they already take advantage of loopholes so that many of them not only avoid income taxes altogether, they actually get substantial refunds come tax season!
So yeah, in the most flat way of looking at it, "Obama" incurred a debt. But it's the debt caused by the expenditures of his predecessors (like a war we shouldn't have started in the FIRST place, just so that defense contractors could make a fortune) and the lack of money returning to pay for it.
You want to know why the debt is where it is? It's because the filthy rich want something for nothing, and they've tricked the American people out of holding them accountable for the things we hold each other accountable for every day by dangling prosperity in their face. There are only two reasons you would follow their line of thinking: because you're already a maniacal, manipulative money-hoarder looking out for your own bank account, or because you're greedy and incapable of thinking for yourself, too blinded by your own desire for immense pro...
Bush's (both), Reagan's, etc. tax cuts for the wealthy, meant to spur "job creators" into creating jobs. The only thing is, it resulted in no American jobs. Instead, they were influenced to send more jobs overseas and to pocket the cash they got. Plus they already take advantage of loopholes so that many of them not only avoid income taxes altogether, they actually get substantial refunds come tax season!
So yeah, in the most flat way of looking at it, "Obama" incurred a debt. But it's the debt caused by the expenditures of his predecessors (like a war we shouldn't have started in the FIRST place, just so that defense contractors could make a fortune) and the lack of money returning to pay for it.
You want to know why the debt is where it is? It's because the filthy rich want something for nothing, and they've tricked the American people out of holding them accountable for the things we hold each other accountable for every day by dangling prosperity in their face. There are only two reasons you would follow their line of thinking: because you're already a maniacal, manipulative money-hoarder looking out for your own bank account, or because you're greedy and incapable of thinking for yourself, too blinded by your own desire for immense prosperity to see that all of this is an illusion to distract you from the fact that it's all for show and that you will never have it.
The American Dream is dead and has been for 50 years. It's time you wake up.
Any number of things could happen that could shoot these "projections" right out of the sky.