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So lets reduce taxes on the wealthy without any carrots or sticks to engage in things that make the economy grow. IE reward true venture capitalists but not most hedge fund managers.
RIght = because obviously the recession and the two wars which happened before he was POTUS was something he could have time-traveled and stopped.
The "recession" added a little to the debt. FIXING the recession added a LOT to the debt.
Anyone with a 5th grade education knows that most of the Federal Debt is due to the wars, recessions and the bush tax cuts. This has been clear for years and charted out by all the orgs that do such things.
But it takes someone who was in the industry (& doesn't listen to the ignorant & lazy media) to know that 1/2 of the 9 Trillion that Obama spent was to bail out AGI, bail out major banks, & conduct Loan Modifications for Several Million people.
I would have done ZERO loan mods and would have reduced the AGI/Bank bailouts by 90%. Real Estate would have taken a hit, the recession would have continued for another 2-3 years, but then would have leveled out. & we would have a Debt of 13-14 Trillion instead of 20 Trillion. (note - the other 3-4 Trillion of debt were caused by Obama's redistribution of wealth programs, pretty breathtaking that he only took 7-8 years to p*ss off that much money - discussed down below)
Bush and Obama share equally in this 4-5 Trillion Financial f*ck up. Both were on their knees pleasuring Investment Bankers (like Morgan Stanley) for their donations. (& guess who had a serious interest in AGI?.)
Bush is responsible for the two wars, but Obama could have shut them down. Personally, I agreed with Afghanistan, but always thought Iraq was a huge & expensive mistake. Just like now, where the media has "picked a side" and runs with the narrative that fits....back then they actually AGREED that Iraq should be invaded (& that there were WMD). 95% of the Media from 03 & 04 should have been fired (if they haven't already). Iraq has cost us another 1-2 Trillion.
The other 3-4 Trillion is strictly Obama's doing (as mentioned above). The jacked up Obamacare program, bringing in immigrants who were immediately put on the dole. Increasing the number put on Food Stamps, Welfare, & Section 8 housing by over 100%. (costing us in the short run AND in the long run by creating a larger "dependent" class of citizens). & a Dozen other "progressive" piece of sh*t programs.
What was Obama supposed to do? Stop paying the military? Let the banks fail and then deal with 30% unemployment?
As mentioned, he should have gotten out of Iraq, (why be as stupid as Bush 2??) let some of the banks fail, do ZERO loan mods and possibly do some public works projects if needed and if they made sense (which would have prevented people from being unemployed) instead of increasing the dozen or more welfare programs (& doing a several million loan mods which cost us Trillions.) & we have nothing to show for any of this waste.
You should be bowing down to him for tripling the value of the stock market.
Investment Bankers & Wall Street are probably now bowing down to him...but he was on his knees to them for so many years he's got callouses on his knees. But hey....he's gotten to take some really sweet trips over the years at their expense !!
If you want to look at it in a crude way, the losses in the Great Recession in the USA - the very basics - were 13 Trillion. That was after things were FIXED. At one point it could have been 50 Trillion plus (value of all bankrupt real estate, worthless stocks, etc.).
Not accurate & truly goofy math.
The government didn't have to get involved (except minimally). Real estate would have fallen 20-25% & then would have leveled off (supply and demand). We didn't have to spend a dime for this to have happened naturally.
Now take 4 Trillion for the Wars - and a somewhere about 3.5 trillion for the Bush Tax Cuts....
It's my understanding that the "Wars" cost 1-2 Trillion and Bush Tax Cuts cost 1.5 - 2 Trillion.
Your math is inaccurate. The Debt was at 10 Trillion when he took office and he added another 9-10 Trillion.
And you are complaining that he got 20+ trillion paid out and down for only 10 Trillion in additional debt? Heck, that's a 50% off sale.
You sound like my Ex Wife who would brag to me how much she saved me by spending $400 of my money shopping at 50% off sales.
If you are looking for someone to blame, it has the initial GOP or GWB - which voted to fund wars from debt and deficit, give tax cuts from debt and do nothing to deal with health care - oh, and two wars and MUCH More.
Trump is now making GWB look like a good POTUS. Just imagine the fleecing this country is in for now?
Thank goodness people who can't add 10+10 & people who are unable to recognize a fox in the hen house aren't electing Socialists & Idiots to office any more.
The only people who are more p*ssed that Trump was elected than the SJWs & Media... are investment bankers & some factions of Wall Street. (& for good reason). If he is not "a fox in the hen house" (& i don't think he is) & instead is an astute businessman.....the REAL economy will slowly turn back around, infrastructure programs will begin (& we'll get close to a -0- Deficit).
That is if the Debt Bomb doesn't go off in the next year.
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Last edited by hound 109; 03-31-2017 at 09:26 AM..
It may well be too late to "solve" the National Debt problem.
Congress doesn't even have the money to pay the IOU's for the money they stole from the Social Security Trust Fund!
According to some reporting agencies, the credit rating of the United States has dropped from AAA+ to AA (google it).
I wonder how high the debt (not the deficit) has to be before the United States is declared insolvent?
There is no national debt problem. However its probably too late to explain it to the average American who just doesn't get it. Ya know Japan has an even bigger debt ratio. Care to tell me when they are doomed? I have been hearing of their financial doomsday for decades. You will never figure out the problem believing in mythologies. The national debt is a mythology. All it is is an out standing issue of fiat money. The "debt" isn't conversable to anything but other forms of faux debt...so its all an illusion. Psychologically the taxing power merely swaps positive reinforcement based money like gold to negative reinforcement of avoiding punishment. Punishment is rich in supply to the most well armed nation in the world.
You don't reverse 8 years of idiotic spending in a heartbeat.
Spending....
Now that is the correct answer. The debt is merely water under the bridge. That money was spent, mostly on crap like Obama drone wars and mass surveillance.
What traps?
Pursuant to the constitution (ignored since 1933), only gold and silver coin "pay debt."
Federal Reserve notes ("dollar bills") are IOUs (debt) denominated in dollars, but are NOT dollars (coin)
All the traps...
[] Lawful money - gold & silver coin (quite limited - around 112 billion dollars total, based on existing bullion)
[] Debt (notes) - based on current public debt, no more than 19 trillion (face value) could exist. But the debt is unpayable. And the debt service requires MORE dollar bills, which requires more deficit spending (see:TITLE 12 USC Sec 411)
[] Liberty money - private obligations (i.e. coupons, notes, etc) that are denominated in real goods and services.
It's no coincidence that the STATUS QUO omits any reference to the idea that 'we, the little people' can use our own private medium of exchange and not have to beg nor borrow their worthless notes, at usury.
So, it's our fault that the Republican dominated federal government can't actually be effective?
Shame on them for telling us otherwise.
Yes, absolutely!
Democrats should stop obstruction and bring some real solutions to the table.
Have you heard a peep from the Democrats about addressing this problem?
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