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Interest payment on the total debt is 7% currently. Given current spending, that accounts for $260 billion. That interest, of course, is paid on all the debt accumulated prior to Bush and the additional $6 trillion that Obama has blown.
We have $4 trillion accumulated by Bush over eight years and $6 trillion by Obama over four years. One would argue (unless a completely irrational liberal who does not pay attention to facts), that Obama is far worse fiscally than Bush, as the numbers clearly show it. Further, Bush was hampered his last two years by a completely irresponsible democratic congress, who spent money like a drunken sailor. http://home.adelphi.edu/sbloch/deficits.html
The facts (which liberals always ignore) hurt. Try again.
We are indeed headed for a cliff. Only the cliff is not one we are going to fall off but one we cannot climb if the REPUG idiots get to implement fiscal austerity.
Austerity is a freebie for the Rep plutocrats because even if the working and consumer economy collapses they rich still have enough wealth to never worry about the mortgage, food or cloths. That is the great injustice of the Republican way.
Interest payment on the total debt is 7% currently. Given current spending, that accounts for $260 billion. That interest, of course, is paid on all the debt accumulated prior to Bush and the additional $6 trillion that Obama has blown.
We have $4 trillion accumulated by Bush over eight years and $6 trillion by Obama over four years. One would argue (unless a completely irrational liberal who does not pay attention to facts), that Obama is far worse fiscally than Bush, as the numbers clearly show it. Further, Bush was hampered his last two years by a completely irresponsible democratic congress, who spent money like a drunken sailor. U.S. Federal Deficits, Presidents, and Congress
The facts (which liberals always ignore) hurt. Try again.
Clearly here's an example of one that understands the concept of leaving ones comfort zone and respecting other people opinions. Now, that is a great way to move toward an actual compromise solution. Must be an incognito member of Congress.
We are indeed headed for a cliff. Only the cliff is not one we are going to fall off but one we cannot climb if the REPUG idiots get to implement fiscal austerity.
In other words - spend our way out of this.
Quote:
Austerity is a freebie for the Rep plutocrats because even if the working and consumer economy collapses they rich still have enough wealth to never worry about the mortgage, food or cloths. That is the great injustice of the Republican way.
Yeah, 150 million Republicans are rich and don't have to worry about mortgage, food or clothes.
We will fall off the cliff because Harry Reid wouldn't pass a bill if his life depended on it. How many years have we been operating without a budget?
I love how our leaders are meeting privately with economic experts and having closed door meetings because they are so afraid of the electorate. What do they have to fear? they have it rigged where nothing major will be voted on until after the election.
Even after the election these meetings and commitees will not mean squat and will get shuffled to the side like Simpson/Bowles. Our fear less leaders will take the easy way out and extend the Obama Tax cuts, raise the debt ceiling, extend UE and other, and make some miniscule cuts.
It won't matter which Puppet is in the WH that is the lame hand he will be dealt.
...............yet the liberals want to spend more and more, hastening our demise, rather than actually trying to prevent it.
The 'liberals' haven't really passed a ton of new spending. The dollar growth in spending in Washington has mostly been people just using existing programs a lot more than they used to. You also have increased spending on Social Security and Mecicare since people are getting older.
Want to look at excessive spending? Why aren't you talking about Prescription Drugs for Seniors and defense spending? I mean, hold people to account, but at least know what you're talking about first. There's plenty of spending that is happening right now that was initiated by past bills.
Worried about our demise, then go do some reading. This entire mess we're moving through now is caused by a lack of regulation in the financial sector. Is it Republicans or Democrats who are usually on the "all regulation is bad" bandwagon?
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