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Clinton & Democrat congress reversed Bush 1 increasing deficit spending. Clinton turned it into a surplus to match the payroll tax SS surplus coming in building up to fund baby boomers retirements. Bush gave all the SS money to wallstreet, crashed the economy & exploded the deficit spending. This caused massive inflation. Under Bush Oil went up 1,000%, Gold up 600%, Houses up 200%, Food up 400%, Water, Sewer, Gas, Electric all up 200% to 400%. The US dollar plunged over 50%
Obama has lowered deficit spending every year, thus lowering inflation & increasing the value of the US dollar.
The Democrats have nothing to do with any of that.
I'm an inflation-Nazi.. so I'll be first to say our government does not control inflation. 99.9% of people in this country have no freaking clue about Inflation. Inflation is caused by oil prices and population demographics. Oil goes up, everything in the world goes up. Population goes down, demand for all goods comes down with it.
The inflation scenario you are talking about is half true if we were had a commodity such as gold for a currency. Today we have Federal Reserve fractional reserve banking system expanding our dollar currency. The US dollar is a fiat currency no longer backed by gold. The US dollar is only backed by faith & credit of the US government. "Starving Government in order to Drown it in a Bathtub" as Republicans do by increasing spending & cutting taxes is actually destroying the very faith & credit that backs our currency. Deficit spending & refusing to raise the debt ceiling to pay the government guaranteed debt obligations destroys the very faith & credit that backs our currency.
US dollar devaluation, inflation & interest rates soared in 1979 far exceeding inflation caused by the 1973 Arab Oil Embargo. This happened because investors in T-bills maturing April 26, 1979 were told that the U.S. Treasury could not make its payments on maturing securities to individual investors. The Treasury was also late in redeeming T-bills which become due on May 3 and May 10, 1979. Investors had to sue the federal government to get all their money & interest. The faith & credit of the US government is what is backing the US dollar.
Oil has huge power value, is transportable, currently wanted & consumed by most people on earth making it a most powerful commodity. Oil is not easily carried & traded for goods & services like the US dollar is. Nearly all oil exporters around the world price & sell oil in US dollars because the USA is the worlds largest consumer, producer & defender of oil. This makes the US dollar the "Petro-Dollar" that can be redeemed for oil in the most places in the world. We derive great benefits from petro-dollar recycling. Most Central Banks around the world hold US dollars in their reserves to leverage their currencies. Oil & Gold are the commodities that are most associated with the value of the US dollar.
Federal Reserve fractional reserve banking system multiplies the velocity of the US dollars. A dollar stuffed in a mattress for years does not drive up any prices. A dollar circulating many times a year will explode price inflation. Lending money causes inflation. Lending money to people why don't pay it back & are allowed to endlessly keep on borrowing causes massive inflation. This makes the fractional reserve fiat money only as good as the credit of it's borrowers.
Also the US treasury can simply print money. You see there are many more ways to cause inflation today than just population & oil.
Last edited by KrazeeKrewe; 11-02-2014 at 06:31 AM..
Clinton & Democrat congress reversed Bush 1 increasing deficit spending. Clinton turned it into a surplus to match the payroll tax SS surplus coming in building up to fund baby boomers retirements. Bush gave all the SS money to wallstreet, crashed the economy & exploded the deficit spending. This caused massive inflation. Under Bush Oil went up 1,000%, Gold up 600%, Houses up 200%, Food up 400%, Water, Sewer, Gas, Electric all up 200% to 400%. The US dollar plunged over 50%
Obama has lowered deficit spending every year, thus lowering inflation & increasing the value of the US dollar.
10/01/2012.................................16,159,487,01 3,300.35
09/30/2013.................................16,738,183,52 6,697.32
578,696,513,397..............................578 billion deficit fy13......the only year under one trillion
10/01/2013................................. 16,747,478,675,335.18
09/30/2014................................. 17,824,071,380,733.82
1,076,592,705,398..............................1.0 7 trillion deficit fy14 which just ended
1.6 trillion DEFICIT
1.17 trillion DEFICIT
1.27 trillion DEFICIT
578 Billion DEFICIT (the only year under a trillion since fy09)
1.07 Trillion DEFICIT (this last fy that ended 30 days ago )
Clinton/newt never had any surpluses.....they had PROJECTED surpluses...but the country SPENT the surpluses...if you project a surplus, then spend more than that surplus... you have a deficit
budgets are best guesses...projections
ie you can say we EXPECT/PROJECT the revenue to be 2 trillion and EXPECT the spending to be 3 trillion...a 1 trillion PROJECTED deficit
or you can say we EXPECT/PROJECT the revenue to be 2 trillion and EXPECT the spending to be 2 trillion...a PROJECTED balanced budget
ie you can say we EXPECT/PROJECT the revenue to be 2.1 trillion and EXPECT the spending to be 1.9 trillion...a 200 billion PROJECTED surplus
and the end of the year all the pluses and minuses are counted.... you can have
ie you can say we EXPECT/PROJECT the revenue to be 2 trillion and the spending to be 3 trillion...a 1 trillion PROJECTED deficit...but revenue rose to 2.2 trillion and we only spent 2.8 trillion...still a deficit but instead of a 1 trillion deficit, now its a 600 billion deficit
you can project a surplus..and have emergencies show up (ie the Mississippi valley flooding...911... etc) and completely blow the surplus to where it becomes a deficit
also remember for a PROJECTED BUDGET DEFICIT/SURPLUS you need an actual PASSED BUDGET
the simple FACT is the we have had trillion dollar DEFICITS each year for the last 6 years minus 1..fy13
Clinton never had a surplus
there never was a surplus
there was a PROJECTED BUDGET surplus
but there never was an actual surplus, where the debt went down
yes you can have a BUDGET (PROJECTED) surplus/deficit...but with a surplus, the debt will be paid DOWN, and will NOT increase...unless they .....SPENT the surplus, which makes it not a surplus
example
you make 60k..you currently have a debt of 15k......you budget 57k.. ...you have a projected surplus, of 3k..which should go to the debt and lower the debt to 12k........................
.......but.....
emergencies come up.......washer/dryer........1k........transmission on the mommie mobile......2k............unexpected medical bill not covered by insurance....3k.............hmmm 6k total
now what do you have........60k income...budget of 57k...debt of 15k....new spending of 6k.......your 3k surplus, with a 3k pay down of your 15k down to 12k....just turned into a 3k defiict,,and 3k of additional debt...making your total debt now UP to 18k
sorry, but the PROJECTED surpluses of clinton/newt never happened...the debt never got paid, and the debt infact INCREASED
the simple fact is if there had been a surplus, then the debt would have gone down...it didn't
was the BUDGET balanced.....yes
was there a PROJECTED SURPLUS.....yes
was there an actual surplus , once all in's and out's were counted.....NO
do you sheeplely follow what the government says of 1-2% per year over the last 6 years???
or do you go to the store and compare prices, and see how much things have gone up???
inflation has been near 10-15% for the last 6years
look at the prices in the stores
have you been to the store
prices are going up, and up
coffee is double what it was just 6 years ago in 2008...over 100% in that 6 years....or 20%per year average
coffee up
sugar up
cotton up
corn up
all other vegetables up
all meats up
almost everything us up
REAL INFALTION IS CURRENTLY ABOUT 10-15% or more...unfortunately the government(from either party) doesnt give us the REAL numbers
it certainly is for every working class person or old person
you think that your utility cost being up is not inflation???
you think your medical/pharm costs being up is not inflation???
you think your clothing costs being up is not inflation???
you think your housing (rent and realestate taxes) being up is not inflation???
you think food costs going up is not inflation???
you think building supply costs (ie home depot) being UP is not inflation???
almost EVERYTHING we use has gone up by at least 10% to in some cases 30% in the last 5 years...and you are going to tell me inflation is "only 2% or less"
have you been to the store???...have you SEEN THE PRICES???? milk is nearly $4 a gallon...meats have gone though the roof...in 2004 a 3lb can of coffee was about $3...today its a 2.2lb can of coffee and its $10...over a 300% increase in less than 10 years
sorry you are too blind to see
you certainly do prove that the sheeple are out there for the slaughter
so are you going to tell me YOU BELIEVE the government TELLING YOU that inflation is at 0-3% when PRICES in nearly everything have risen 10-20% or more????
the 'inflation rate' is not REAL INFLATION (ie COST inflation) that real americans (and seniors) feel with almost everything we buy
costs are going up on almost everything..especially food (which is NOT counted in the 'inflation rate')
Junk fish called Tauplia which was selling in 2008 for 1.28 a pound is now close to 6.00 a pound...Catfish that averaged between 3.49 and 3.99 at 6.00 plus.... Not just one store, they are all similar in price. Paper towels are highway robbery.....deli ham/turkey which I used to get for 2-3 a pound...now 6-9 a pound
couple of Thanksgiving ago ,,Sweet potatoes they were 49 cent/pound...now $1.79/pound
breyers icecream HALF GALLON, was (2008) 2for 5...now its 1.5 quarts and its 4/each(on sale)
Even cooking oil 48 fl oz... went from $2.99 (reg. p about 18 months ago) to $3.69 (sale)... and $4.79 (reg. price)....the 64oz is well over $7 now
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....of course it also depends on what region of the usa you are in too
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let me guess you will next say food doesn't count
butter was $2.29 2 years ago - just paid $4.29 for it. yep - no inflation.
people forget easily. if you sold a house years ago you had to pay capital gains on it - now you don't. gov't is paying massive subsidies to the food industry so that products on the shelves appear to be semi-affordable - and still they have shot up substantially.
the concept of mythical free money and no consequence can only last so long. govt. fudges numbers, changes formulas and downright lies to keep itself going.
what jobs did Obazo and the dumbocrats create????.........NONE....unless you wish to count PART TIME JOBS
lower inflation....I think not
keeping us safe.....boston, ft hood, etc....yep real safe
Now that ain't true Obama created government healthcare and said it was good...
Then he created more jobs by expanding the enforcement of said law through the IRS and said it was good...
He created thousands of bureaucratic facilitators to oversee your healthcare needs and said it was good..
Then he rewarded those that supported him and gave lucrative government contracts for commercials web sites for your HC and said it was good...
He created Czars plus their staffs for already redundant government agencies and said it was good ...
See don't you feel better already?
I'm a poor person and more than half my income is consumed by rent. No way can I buy. Therefore I continue to be soaked by exorbitant rent payments.
It's called "supply and demand" - you know the "FREE MARKET".
For a poster who took that very name, you don't seem to understand it at all.
If your rent is a high as you claim it is, then you can probably buy - maybe not your dream home or a in your dream area, but with interest rates as low as they are - unless your credit s*cks, you can probably find something to buy for LESS than you are paying rent.
Ken
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