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So let's add another $6 trillion, yippee!!! Send us to Obamaville.
I never said we should do that. I said that debt should grow at a smaller proportion the GDP. We will have a national debt of 20 trillion sooner or later, but as long as GDP has grown to a level high enough to float those liabilities, the economy will grow, your money will be worth more, inflation will be in check, and we'll all be the better off for it.
Should we pay down the debt? Yes, because it has grown at a level unsustainable to GDP growth for many years now. Should we/can we pay off the national debt? No
Which clause in the Constitution, or the Articles of Confederation or the Declaration of Independence states that governments are instituted among men to take from one and give to another, under threat, duress or coercion, because recipients are pitiful and deserving?
Good question. I would like to see an exact citation for that, too.
Words of wisdome from Einsteins Step Child....it must be true....
To you it may be wisdom. To me, it is only a matter of being in touch with the realities rather spending an eternity bickering over assumptions and speaking for others. But, I certainly can still appreciate your reluctant admittance (for now, anyway).
Yes, the 2009 debt which accounted for over half of what you are talking about was signed into law by.....
George W. Bush
But negotiated by...
Obama
Quote:
"For two weeks, I was on the phone every day with [Treasury] Secretary Paulson and the congressional leadersmaking sure that the principles that have ultimately been adopted were incorporated in the bill," Obama said.
Good question. I would like to see an exact citation for that, too.
As I previously told the other poster, we haven't followed the exact wording of the constitution since about 1790, essentially the entire history of these United States under the current governmental body.
So, you and the other poster apparently think that the history and legislative history of the country you belong, since its inception, is wrong. Got it.
No, not negotiated by Obama. He took credit for the auto bailout, but the wall street bailout was all on Bush's shoulders. And that was the lions share of the 5 trillion in question here.
Look, I don't think we should have done any bail outs, any. Both Presidents, both Republicans and Democrats are to blame here. But if we are going to talk about the 5 trillion, half of that was in 2009, and that was all negotiated and signed into law by President George W. Bush, not negotiated, not signed, not Obama's.
Which clause in the Constitution, or the Articles of Confederation or the Declaration of Independence states that governments are instituted among men to take from one and give to another, under threat, duress or coercion, because recipients are pitiful and deserving?
Quote:
Originally Posted by InformedConsent
Good question. I would like to see an exact citation for that, too.
Rather amusing to see people looking at Articles of Confederation or Declaration of Independence for establishing legal framework for the government, in the same tone as US Constitution.
Article I, Section 8:
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States
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