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That's why words matter. Bush ADVOCATED $96 million. Paulson said it would take $700. Congress chose the larger of the two.
Even still, $700 billion is a mere pittance compared to Obama's $16 trillion which has yielded only a $1 trillion growth.
Did you bother to read the link about how Obama has NOT been like prior presidents?
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But he still signed it into law.
He's been like prior presidents in terms of deficit spending. Which is what I've been talking about. Regardless, this country has been in an economic decline since the 1970's, let's not give too much credit to any president.
He's been like prior presidents in terms of deficit spending. Which is what I've been talking about. Regardless, this country has been in an economic decline since the 1970's, let's not give too much credit to any president.
No...you argued that Obama isn't any different than prior presidents.
The debt -vs- GDP is considered manageable anywhere under 5%. Even with $700 billion, that ratio was still OK.
It is NOT OK after Obama's $16 TRILLION!
He alone owns that as well as his horrible handling of the economy.
According to economics expert, President Obama, if you have a mortgage on your house and take out an equity loan on the house that you owe a mortgage, you have not added to your debt.
If Congress approved an increase to the debt ceiling to allow the Treasury to borrow up to $100 trillion in debt, that doesn't mean the nation's debt load is $100 trillion.
No, it means that is the new ceiling. And Congress will find new and improved ways of accelerating our way towards that new limit.
According to economics expert, President Obama, if you have a mortgage on your house and take out an equity loan on the house that you owe a mortgage, you have not added to your debt.
What doesnt make more sense, the fact that one needs to raise the debt ceiling in order to spend more than they have, or the fact that people are supporting spending more than they have, by increasing the debt ceiling?
So now we need to devalue the dollar as well?
Yes, we need a few years of run away inflation.
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