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President Obama's fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation's economic output by 2020, the Congressional Budget Office reported Thursday.
it's headed toward $20.3 trillion (more than $170,000 per household) in 2020
Not sure why some of you think our gov can afford to keep spending. Not sure why some of you are so willing to work for the gov to take and owe the gov so much of your hard earned money
Thank you Republicans for squandering the budget surpluses given to you by Clinton!
So if the debt is 90% of GDP, that's like making $100,000 year and owing $90,000 on your mortgage. Most people don't blink at such a situation.
And to cut Government spending during the biggest recession of our lives would be irresponsible - would have put millions more people into crisis. Thank goodness Obama got elected at this crucial time in our country.
Thank you Republicans for squandering the budget surpluses given to you by Clinton!
So if the debt is 90% of GDP, that's like making $100,000 year and owing $90,000 on your mortgage. Most people don't blink at such a situation.
And to cut Government spending during the biggest recession of our lives would be irresponsible - would have put millions more people into crisis. Thank goodness Obama got elected at this crucial time in our country.
Thank you Republicans for squandering the budget surpluses given to you by Clinton!
So if the debt is 90% of GDP, that's like making $100,000 year and owing $90,000 on your mortgage. Most people don't blink at such a situation.
And to stop Government spending during the biggest recession of our lives would be irresponsible - would have put millions more people into crisis. Thank goodness Obama got elected at this crucial time in our country.
Actually what's irresponsible is the new budget and the trillion dollar healthcare black hole of never ending debt. Our country needs to take steps to get its fiscal house in order before worrying about all this reform. Now that I think about it there are two things that are irresponsible:
1. The government for wasting all the money (yes both parties).
2. The American people (majority of them) for being lazy and ignorant.
But I'm guessing you don't want the truth. You want to hear that republicans are bad, democrats are good and now that we have a trillion dollar healthcare black hole of debt we will all live happily ever after in a beautiful Utopia. Am I right?
Thank you Republicans for squandering the budget surpluses given to you by Clinton!
So if the debt is 90% of GDP, that's like making $100,000 year and owing $90,000 on your mortgage. Most people don't blink at such a situation.
And to cut Government spending during the biggest recession of our lives would be irresponsible - would have put millions more people into crisis. Thank goodness Obama got elected at this crucial time in our country.
Not going to go thru the whole debate over the surplus again
Lets talk about today and Obamas adding to it and how that seems to be ignored and acceptable.
Like I said I dont know why some dont have a problem working to pay for the federal gov instead of that money going to a trip for your family or a whatever for your family its now going to go to the gov.
And to cut Government spending during the biggest recession of our lives would be irresponsible....
Huh. I always thought the government budget should work much like any other budget. If you make less, you spend less. Seems like the opposite of irresponsible to me. And, No, don't try and sell me on the idea that people will suffer. There is so much CRAP in the budget that has nothing to do with helping people who need it.
Every thread on this subject gets twisted with Dem vs Repub, surplus a decade ago vs who spent all the money.
That is HISTORY folks. Finger pointing won't make that huge RED number go away.
We are where we are thanks to both sides and you can go back to the mid 1920's if you want to document who had a surplus and who had a deficit. But at the end of the day, it does not matter.
We are on a suicide course here the likes of which the US has never seen before.
Republicans with GWB in the white house spent like democrats. It was way too much spending.
Democrats with Obama in the white house are spending like drunken democrats.
Republican spending is no excuse for demcrats doubling down on spending.
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