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This. The debt has gone up with each new president. This is nothing new or unique to the current president.
Yes, but:
1) Did it go up this fast?
2) Have we ever reached $15,000,000,000,000 in debt before?
3) Didn't Obama campaign on reducing wasteful spending, reducing the deficit and reducing the debt?
1) Did it go up this fast?
2) Have we ever reached $15,000,000,000,000 in debt before?
3) Didn't Obama campaign on reducing wasteful spending, reducing the deficit and reducing the debt?
Hence the thread.
Obama made a promise to cut the deficit in half by the end of his first term (like he's really gonna get a second).
Bush spent what? 5 Trillion over 8 years... Obama did it in 4 years... and if you think about it... the public debt before Bush was 5 Trillion over 60 years... If you add Bush and deficit before him... Bush deficit rate was 0.6 Trillion/year.... before Bush was 0.08 Trillion/year... Obama is 1.25+ Trillion/year... Obama beat Bush and the entire history of the deficit combined!! He spent like a wild man... and what do we got to show for it.... jack and you-know-what... If Obama continues one more term... he would create a deficit equal or more than all the debts before him... which is what Bush did... the more things "change" the more they stay the same...
Your fallacy is that Obama "spent like a wild man."
One way to address this claim is to ask, where are the huge new federal programs? The Affordable Care Act has not yet kicked in; the stimulus, such as it was, is fading out; where is this big government surge?
Here’s one way to look at the federal budget, compare growth rates in spending from 2000 to 2007 and from 2007 to 2010:
“Income security†is unemployment insurance, food stamps, SSI, refundable tax credits — in short, the social safety net. Medicaid is a means-tested program that also serves as part of the safety net. Yes, spending in these areas has surged — because the economy is depressed, and lots of people are unemployed.
What we’re seeing isn’t some drastic expansion of Big Government; we’re seeing the government we already had, responding to a terrible economic slump.
Pointing out the Obama spending binge is a myth but below is what the Republicans on the deficit commission propose for taxes -- big tax breaks for the wealthy, tax increases for everyone else. Then, they'll complain more about Obama's deficit:
Anyone can post disingenuous partisan digs. Addressing low revenue, which caused deficits since 2001, requires seriousness.
Well, Obama could have eliminated them. He chose not to and even said it would not be good to raise taxes in a recession. Yes Obama said that.
Remember, the dems controlled everything for the first two years and even had a super majority within one of those years. Blaming republicans for Obama's policies is weak.
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