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Regardless of the winner in 2008 or 2012, they inherited a mess from all prior admins. Something about the impending aging population eluded Congress, all along.
Medicare, as is, will crush the system.
I am looking at a chart (OMB) of debt/surplus. It was managable under Bush, until Pelosi and Reid too the reins in Congress, but when Obama took office, it went crazy. When charted visually, it is shocking. Obama is the worst thing to hit the White House in contemporary times, by an exponential factor.
I am looking at a chart (OMB) of debt/surplus. It was managable under Bush, until Pelosi and Reid too the reins in Congress, but when Obama took office, it went crazy. When charted visually, it is shocking. Obama is the worst thing to hit the White House in contemporary times, by an exponential factor.
The deficit increased dramatically under Bush in 2009 due to the economic downturn, not because of anything Obama did later. As you can see from the below chart, debt as a p% of GDP started rising in 2008, before Mr. Obama was President. All that was the effect of the economic downturn.
By Jeanne Sahadi, CNNMoney.com senior writer
Last Updated: January 7, 2009: 5:00 PM ET
The housing meltdown and financial market turmoil have taken a heavy toll on the federal budget.
NEW YORK (CNNMoney.com) -- 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.
I am looking at a chart (OMB) of debt/surplus. It was managable under Bush, until Pelosi and Reid too the reins in Congress, but when Obama took office, it went crazy. When charted visually, it is shocking. Obama is the worst thing to hit the White House in contemporary times, by an exponential factor.
Given all that came before and that beginning in 2010, the oldest boomers began turning 65 to the tune of 10,000 people a day , the debt was going to explode no matter who was elected, in 2008.
The deficit increased dramatically under Bush in 2009 due to the economic downturn, not because of anything Obama did later. As you can see from the below chart, debt as a p% of GDP started rising in 2008, before Mr. Obama was President. All that was the effect of the economic downturn.
I think, for the time being, we are holding our own as it relates to Social Security, excluding SSDI.
Medicare was not designed to be self-funded. It was supplemented by general revenues ( deficit spending) all along.
Medicare reform and an increase in taxes will be necessary to right this ship. Darn shame it was not done 10 years ago, let alone 25. It was easier to kick the can into the future and that's exactly what all previous Presidential Admins and Congress did regardless of partisanship.
By the time the Constitution went into effect, 224 years ago ,the U.S. had a federal debt equal to about $900 billion in today's dollars.
1835 was the one and only year in U.S. history that was debt free.
Are you ready to get knocked outta the park. Stand by, that loud crack you will hear shortly is me knocking the ball out of the park. The ball, is your post.
The question was about a "surplus". Surplus is a yearly excess of revenue over expenditures.
What you are citing is "debt", not "surplus/deficit". Debt is the accumulation of all deficits, plus accumulated interest, minus surpluses.
Crack ----- going, going, going, GONE. You're in the parking lot now.
Now say you are sorry!!!!!!!!!
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