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There are those who think having a debt of $16 Trillion is no big deal. But there is a big deal in the amount of over $200 Billion every year that has to be paid in interest to the debt holders.
Who are those debt holders? 2/3 of them are your fellow citizens, who then take that money and pump it back into the economy.
It's not to say debt is not important. The point is that it's counter productive to worry about the debt when the economy is depressed. Taking measures to control debt now prolongs the depressed economy.
Those are lies. Why don't you educate yourself to Truth so you don't look so foolish.
The projected budget deficit for 2009 was ~$400 billion dollars.
From the propaganda spewed by an admitted left-winger in your article.....
Quote:
It might have something to do with the first year of the Obama presidency where the federal budget increased a whopping 17.9% —going from $2.98 trillion to $3.52 trillion.The first year of any incoming president term is saddled—for better or for worse—with the budget set by the president whom immediately precedes the new occupant of the White House. Indeed, not only was the 2009 budget the property of George W. Bush—and passed by the 2008 Congress—it was in effect four months before Barack Obama took the oath of office.
Bush was responsible for $395 Billion in debt
Obama was responsible for $1.021 TRILLION in debt.
When the budget deficit exceeded the projected deficit, Obama should have ordered a spending freeze --- he didn't -- so he voluntary spent $1.021 TRILLION and you cannot blame that on Bush.
Oh and in that article is him making that actual claim through his own mouth. You should watch it, it is funny. He agrees with the comment and thinks that he can do something no president in the history of presidents have been able to do.
You should really pay attention more to what your candidate is saying cause he is proposing a lot of garbage that you guys aren't holding him accountable for.
12 million. 12 million jobs in 4 years. Is there a rabbit coming out of a hat as well?
Those are lies. Why don't you educate yourself to Truth so you don't look so foolish.
The projected budget deficit for 2009 was ~$400 billion dollars.
From the propaganda spewed by an admitted left-winger in your article.....
I don't know where you got that number from. It looks like your number is false.
Quote:
The U.S. budget deficit in 2009 is projected to spike to a record $1.2 trillion, or 8.3% of gross domestic product, the Congressional Budget Office said Wednesday.
Notice the date of the article, January 7, 2009: 5:00 PM ET -- two weeks BEFORE Obama was sworn in.
Quote:
Originally Posted by Mircea
When the budget deficit exceeded the projected deficit, Obama should have ordered a spending freeze --- he didn't -- so he voluntary spent $1.021 TRILLION and you cannot blame that on Bush.
So, according to you, in the middle of the worst economic upheaval since the Great Depression, Obama should have ordered that unemployment benefits, SNAP, Medicaid, etc. be frozen just as the newly unemployed need them the most?
I don't think the President even has the authority to do that. Those programs are need qualified and the president just can't cut people off. What you also are advocating, although I doubt that you know it, is the same policy Herbert Hoover followed -- as the depression worsened, he reduced government spending, which worsened the Depression.
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