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Debt has increased with 3 trillion since Obama took office mostly because of falling tax revenus as a result of the economic downturn and because of war spending in Aghanistan and Iraq.
Wrong.. war spending is less than 10% of the deficits, and they havent increased since Obama took office. You could blame war spending if they were new spending, but we all know its not.
Wrong.. war spending is less than 10% of the deficits, and they havent increased since Obama took office. You could blame war spending if they were new spending, but we all know its not.
So that means there's less spending under Obama...
Prescription drug spending.. I agree with you completely. Shouldnt have passed but Democrats whined and complained about how the poor couldnt pay for their prescriptions. Hillary Clinton herself said she knew someone that had to choose between buying their prescriptions, or eating dog food..
Democrats opposed it when Bush proposed it but they were shouting for it under Clinton. Another 180 flip...
The Democrats wanted it but didn't pass it because they couldn't find the funding. Bush couldn't find the funding either but passed it anyway (with Cheney as the deciding vote). He was desparate to get all of the seniors in Florida on his side for the 2004 election.
The Democrats were being responsible by not adding to the debt. Bush didn't care.
The large bulk of the rise of the current debt is made upp of war spending in Afghanistan an costs for the reconstruction of Iraq in combination with falling tax revenues as a result of the economic downturn and Bushes tax cuts.
What are you smoking? The Democrats have waived paygo for EVERY SINGLE BILL passed since its inception. Their budgets are so bad that they decided they simply wont PASS one for 2011..
All debt is not equal. The reason for the debt is as important as the actual figure. What Pelosi was talking about was new, unfunded mandates.
The debt is:
New unfunded mandates, like prescription drugs;
Emergency and extraordinary funding, like the war and the stimulus; and
Shortfalls due the decreased revenue.
Suppose you buy a very expensive car that you can't really afford. The monthly payments are an unfunded mandate. If you start putting your car payments on your credit card, you're going to run into trouble very quickly. This is what Pelosi vowed to prevent, unlike Bush.
Now, suppose the plumbing your house starts to leak and need to be replaced immediately. This is an emergency event. Taking on debt and paying it off slowly is a reasonable acts because the long-term effects would be much worse than if you did nothing.
Now supposed you get laid off (a decrease in revenue). Your unemployment benefit doesn't cover the cost of your mortgage. Do you sell your house and move because of a temporary loss? You could, and it might even be a good idea in certain circumstances. However, it's also acceptable to take on debt to cover a short term loss.
The reason for the debt changes radically in each instance. Many people are getting worked up over the debt without thinking about the different types of debt.
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