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just the 800 billion in extra spending on that so called stimulus was huge and we will be paying on it for decades.
The CBO calculated the total cost somewhere around $3.2 Trillion. The $800 B was just a few years worth of spending, but the total bill expands a decade, and even longer when you calculate the payback period
When interest rates are low, yes. Do you have a mortgage? Car loan? Student loan? Actually, we wouldn't even need to borrow that much if we had a progressive tax structure.
If a consumer borrows money, they receive something of value. One finances a mortgage which is usually offset by someone else selling a property and thus reducing the debt of the seller. You take out a car loan so you can go increase your revenues and reduce your life. Student loans increase your job potentials.
When interest rates are low, yes. Do you have a mortgage? Car loan? Student loan? Actually, we wouldn't even need to borrow that much if we had a progressive tax structure.
What a joke. Of course we have a progressive tax structure, and to argue otherwise is well beyond absurd.
As to your questions: Yes I have a mortgage, and it will be paid off in much less time than it's term
I do not have a car loan. Our last 4 cars, all bought new, were not bought with credit. And I don't have a student loan either. i didn't borrow any money to finance my college education.
The problem is, that if you take our national situation and try to compare it to someone's personal finances, it's not as though we are just borrowing money to pay for capital investments, we're also borrowing to pay day to day expenses such as the food bills, utility bills and so on. It cannot continue like this forever. And to think you can tax people more and somehow a bunch of bureaucrats in D.C. will spend that money more wisely is ridiculous. We'll just end up paying for the equivalent of more IRS line dancing videos, or perhaps you think that's a major stimulus for the economy?
At a fundamental level our nation is headed for a fiscal train wreck not so much because government spending is out of control. That's the symptom, not the cause. We're headed for a train wreck because at a personal level so many people have come to believe they can borrow their way to success, that the world owes them a living, that they deserve the fancy house and the fancy cars, that they should be able to live their lives in the style of the stars they see on their favorite TV shows. Their personal beliefs are reflected in the politicians that they vote into office, who then turn around and run the country based on that same set of beliefs.
lets see, bush43 added $5 trillion to the national debt over 8 years, and dear leader chairman maobama has added $7 trillion to the national debt in under 5 years. so who again is the biggest spender? doesnt sound like bush to me, it sounds like obama. as stated we dont spend percentages, we spend dollars.
Heres how things happened in (reality.)
1. Carter had no major deficits or debt.
2. R. Reagan lowered rich people's tax rates and this decreased government revenues, and then our deficits and national debt grew.
3. G(H)W Bush and Bill Clinton reversed Reagan's tax policies, and then in the Clinton years our national debt was lowered.
4. GW Bush inherited a balanced budget and a national debt that was going down. GW Bush then gave Americas rich a $2.5 trillion dollar tax cut (and added $2.5 trillion dollars to our national debt.) Then GW Bush attacked Iraq for nothing and spend $800 billion dollars doing it. These actions caused our deficits and national debt to rise.
5. B. Obama inherited GW Bush's deficits. GW Bushs tax cuts for the rich happened while Obama was in office and created deficits for Obama. Obama also has to pay for GW Bush's for nothing Iraq war.
6. B. Obama has already cut GW Bush's debt growth rate in half.
The following source shows Americas debt history. You don't need to look at the year or names of the president to tell when republicans are in office.
When the "Growth Rate, YoY" rises republicans are in office.
When the "Growth Rate, YoY" fall democrats are in office.
Note: G(H)W Bush did not live his life to lower rich peoples tax rates like Reagan and GW Bush. He called tax cuts for the rich "voodoo economics", that's why G(H)W Bush did not grow our national debt like Reagan and GW Bush.
This is nonsense. It has been debunked. It is flat out nonsense.
This calculation was reached by calculating Obama's levels of spending relative to a baseline which included an $800 billion emergency stimulus. Anyone with a brain in their heads can see why this is blatantly dishonest.
Ratios are elementary school math. If how they are used confounds you, then you need to get some remedial help.
And calling out manipulations of ratios to pathetically try to prove a false point is obviously far above you since I've exposed the lie in this article. Obama is the biggest spender in our nation's history. Please prove me otherwise. If you can prove that he has spent LESS CASH (US DOLLARS), not percentages, than other presidents, then I will ban myself from this forum.
I often ask the following question in this forum, but republicans refuse to answer it, (I will try again.)
GW Bush gave the rich a $2.5 trillion dollar tax cut.
Romney wanted to give the rich a $6.6 trillion dollar tax cut.
What size tax cut do you republicans want to give the rich in 2016?
How many trillions of dollars in tax cuts would you like to give the rich in 2016?
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