Fact: It's was Obama that sued Citibank for Acorn that forced the banks to give loans to those those that couldn't afford them.
Fact: Bush and the Republicans warned about it immediately after Bush got into office and the Democrats scoffed and lied about it and it was Obama that was the 2nd Highest paid and least amount of time in office to take Fannie Mae Money.
Fact: It was Bush and the Republicans in Congress that tried to cut wasteful spending and cut out programs already known to be wasteful but it was Obama and the Democrats that voted against that bill in Congress even while campaigning on just that topic that he was going to cut wasteful spending and pay down the national debt but voted opposite on the very bills that were going to do that.
Fact: It's Obama that has push through more regulations than anyone in History.
Fact: it's Obama that pushed through Obama care even when no one read it and it's stopping businesses from hiring.
Fact: it's Obama that shut down drilling in the gulf that gas prices rose and crippled us.
Fact: It's Obama and the Democrat Congress as majority that spent more in three years than all Presidents combined before them.
Fact: It's Obama that is giving out college grants, more foodstamps and lost loans by the billions ....that wasn't bush.
Fac...
Fact: Bush and the Republicans warned about it immediately after Bush got into office and the Democrats scoffed and lied about it and it was Obama that was the 2nd Highest paid and least amount of time in office to take Fannie Mae Money.
Fact: It was Bush and the Republicans in Congress that tried to cut wasteful spending and cut out programs already known to be wasteful but it was Obama and the Democrats that voted against that bill in Congress even while campaigning on just that topic that he was going to cut wasteful spending and pay down the national debt but voted opposite on the very bills that were going to do that.
Fact: It's Obama that has push through more regulations than anyone in History.
Fact: it's Obama that pushed through Obama care even when no one read it and it's stopping businesses from hiring.
Fact: it's Obama that shut down drilling in the gulf that gas prices rose and crippled us.
Fact: It's Obama and the Democrat Congress as majority that spent more in three years than all Presidents combined before them.
Fact: It's Obama that is giving out college grants, more foodstamps and lost loans by the billions ....that wasn't bush.
Fac...
Fact: It's was Obama that sued Citibank for Acorn that forced the banks to give loans to those those that couldn't afford them.
Fact: Bush and the Republicans warned about it immediately after Bush got into office and the Democrats scoffed and lied about it and it was Obama that was the 2nd Highest paid and least amount of time in office to take Fannie Mae Money.
Fact: It was Bush and the Republicans in Congress that tried to cut wasteful spending and cut out programs already known to be wasteful but it was Obama and the Democrats that voted against that bill in Congress even while campaigning on just that topic that he was going to cut wasteful spending and pay down the national debt but voted opposite on the very bills that were going to do that.
Fact: It's Obama that has push through more regulations than anyone in History.
Fact: it's Obama that pushed through Obama care even when no one read it and it's stopping businesses from hiring.
Fact: it's Obama that shut down drilling in the gulf that gas prices rose and crippled us.
Fact: It's Obama and the Democrat Congress as majority that spent more in three years than all Presidents combined before them.
Fact: It's Obama that is giving out college grants, more foodstamps and lost loans by the billions ....that wasn't bush.
Fact: it's Obama that bowed the world and looks like a fool and is hurting our relationships.
This is Obama's economy. We weren't having a crisis until the Democrats took over congress which included Obama.
(more)Fact: Bush and the Republicans warned about it immediately after Bush got into office and the Democrats scoffed and lied about it and it was Obama that was the 2nd Highest paid and least amount of time in office to take Fannie Mae Money.
Fact: It was Bush and the Republicans in Congress that tried to cut wasteful spending and cut out programs already known to be wasteful but it was Obama and the Democrats that voted against that bill in Congress even while campaigning on just that topic that he was going to cut wasteful spending and pay down the national debt but voted opposite on the very bills that were going to do that.
Fact: It's Obama that has push through more regulations than anyone in History.
Fact: it's Obama that pushed through Obama care even when no one read it and it's stopping businesses from hiring.
Fact: it's Obama that shut down drilling in the gulf that gas prices rose and crippled us.
Fact: It's Obama and the Democrat Congress as majority that spent more in three years than all Presidents combined before them.
Fact: It's Obama that is giving out college grants, more foodstamps and lost loans by the billions ....that wasn't bush.
Fact: it's Obama that bowed the world and looks like a fool and is hurting our relationships.
This is Obama's economy. We weren't having a crisis until the Democrats took over congress which included Obama.
Yet the mainstream media seem curiously uninterested in reporting on “outsourcing” by the Obama Administration, which has (1) outsourced stimulus monies to create jobs in foreign nations, (2) outsourced U.S. foreign policy to U.N. and (3) outsourced our kids and grandkids financial future to pay for his unprecedented spending binge
And the RINO GOP for going along with it all this time!
Where did our debt come from?
In 1945 Truman became president on Roosevelt’s death and wrote his first budget for 1946. The debt to GDP was $258.68 billion in 1945. With his last budget for 1953 the national debt was $266.08 billion. Truman added $7.4 billion to the national debt.
Eisenhower’s budgets for the years 1954 to 1961 brought the national debt to $288.96 billion. Eisenhower added $22.88 billion to the national debt
Kennedy/Johnson budgets for 1962 to 1969 ended with the national debt at $353.59 billion Kennedy/Johnson added $64.73 billion to the national debt.
Nixon/Ford budgets for 11970 to 1977 ended with a national debt of $698.76 billion. Nixon/Ford added $345.07 billion to the national debt.
Carter budgets from 1978 to 1981 ended with the national debt at $997.76 billion. Carter added $299 billion to the national debt.
Reagan budgets for 1982 to 1989 ended with a national debt of $2,857.27 billion. Reagan added $1,859.51 billion to the national debt.
GHW Bush budgets from 1990 to 1993 ended with a national debt of $4,411.82 billion. GHW Bush added $1,554.55 billion to the national debt.
Clinton budgets from 1994 to 2001 ended with a national debt of $5,807.59 billion. Clinton added $1.395.77 billion to the national debt.
GW Bush budgets from 2002 to...
Where did our debt come from?
In 1945 Truman became president on Roosevelt’s death and wrote his first budget for 1946. The debt to GDP was $258.68 billion in 1945. With his last budget for 1953 the national debt was $266.08 billion. Truman added $7.4 billion to the national debt.
Eisenhower’s budgets for the years 1954 to 1961 brought the national debt to $288.96 billion. Eisenhower added $22.88 billion to the national debt
Kennedy/Johnson budgets for 1962 to 1969 ended with the national debt at $353.59 billion Kennedy/Johnson added $64.73 billion to the national debt.
Nixon/Ford budgets for 11970 to 1977 ended with a national debt of $698.76 billion. Nixon/Ford added $345.07 billion to the national debt.
Carter budgets from 1978 to 1981 ended with the national debt at $997.76 billion. Carter added $299 billion to the national debt.
Reagan budgets for 1982 to 1989 ended with a national debt of $2,857.27 billion. Reagan added $1,859.51 billion to the national debt.
GHW Bush budgets from 1990 to 1993 ended with a national debt of $4,411.82 billion. GHW Bush added $1,554.55 billion to the national debt.
Clinton budgets from 1994 to 2001 ended with a national debt of $5,807.59 billion. Clinton added $1.395.77 billion to the national debt.
GW Bush budgets from 2002 to 2009 ended with a national debt of $11,875.65 billion. GW Bush added $4,311.88 billion to the national debt
Under Obama $4,778.07 billion has been added but that includes a hangover from the Bush stimulus programs and the wars in Afghanistan and Iraq that are being fought on credit.
If you total everything up it comes to $25,757.726 billion while the national debt is currently around $15 trillion. Over the years since 1946 something on the order of $10 trillion has been paid against the national debt.
The real answer to solving the national debt is to take much of the choices out of the hands of congress. The budget, federal income and the debt ceiling should be set as a percentage of GDP by a Constitutional amendment that congress cannot change without the consent of 75% of the states. This would force congress to plan the annual budget within the constraints of federal income.
click to blow up
April 24, 2012
(CNSNews.com) - Social Security faces an unfunded liability of $8.6 trillion, according to the 2012 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds.
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The unfunded liability is the amount that has been promised in benefits to people now alive that will not be funded by the tax revenue the system is expected to take in to pay for those benefits. (The Social Security trustees calculate the unfunded liability for a period of 75 years into the future, from 2012 to 2086)
The $8.6 trillion in unfunded benefits Social Security is expected to pay over the next 75 years equals $73,167.83 for each of the 117,538,000 households the Census Bureau said were in the United States in 2010.
However, the report also shows that when considering the unfunded obligations over an “infinite horizon”—the period extending into the indefinite future—the $8.6 trillion shortfall balloons to $20.5 trillion.
“Extending the horizon beyond 75 years increases the measured unfunded obligation,” the report said.
“Through the infinite horizon, the unfunded obligation, or shortfall, equals $20.5 trillion in present value, which represe...
April 24, 2012
(CNSNews.com) - Social Security faces an unfunded liability of $8.6 trillion, according to the 2012 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds.
(
The unfunded liability is the amount that has been promised in benefits to people now alive that will not be funded by the tax revenue the system is expected to take in to pay for those benefits. (The Social Security trustees calculate the unfunded liability for a period of 75 years into the future, from 2012 to 2086)
The $8.6 trillion in unfunded benefits Social Security is expected to pay over the next 75 years equals $73,167.83 for each of the 117,538,000 households the Census Bureau said were in the United States in 2010.
However, the report also shows that when considering the unfunded obligations over an “infinite horizon”—the period extending into the indefinite future—the $8.6 trillion shortfall balloons to $20.5 trillion.
“Extending the horizon beyond 75 years increases the measured unfunded obligation,” the report said.
“Through the infinite horizon, the unfunded obligation, or shortfall, equals $20.5 trillion in present value, which represents 3.9 percent of future taxable payroll or 1.3 percent of future GDP,” reads the report.
The report adds that the 2012 estimate for unfunded obligations over the infinite horizon has increased from the $17.9 trillion in the 2011 report.