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"There is, of course, another responsibility we have to our children. And that is the responsibility to ensure that we do not pass on to them a debt they cannot pay. With the deficit we inherited, the cost of the crisis we face, and the long-term challenges we must meet, it has never been more important to ensure that as our economy recovers, we do what it takes to bring this deficit down."
President Obama
Address to Joint Session of Congress
February 24, 2009
The deficit that he "inherited" is a drop in the bucket compared to the stimulus and all the other spending they have in mind.
But Democrat rhetoric doesn't tell us that what you showed is true,
BTW, Newt Gingrich said yesterday that between Bush's 8 years and Obama's one month we have accumulated $3.6 trillion of new debt. That scares me more than I can say.
I hope and pray everyday that once before I die you will figure out how to get your citations to support your thread titles or premises.
The budget deficit is not the national debt.
In order for Obama to triple the debt, the Federal budget and all the stimulus bills would have to be in the range of $20,000,000,000,000.00 (that's 20 trillion) not $2 trillion. Yes the national budget will be triple the size of FYI 2009 this is not news.
Serene you are wrong and Ovacatto is right! Owned! and oh yeah nice try!
You can't have debt that you haven't spent yet.
If the Stimulus cost 1 trillion dollars that is not debt.
What if through the Stimulus spending the Federal Government manages to "make more" money than before through Taxes, consumer spending, etc....
How can you say that the 1 trillion dollars is debt?
Exactly you CAN'T because it hasn't happened yet!
Thats like me saying I'm going to buy a house for 10 million dollars in 2010
So is my debt RIGHT NOW 10 million dollars?
Umm no its not because what if in 2009 I win the lottery for much more than that?
Thats why debt is whats present not whats in the future
Serene you are wrong and Ovacatto is right! Owned! and oh yeah nice try!
You can't have debt that you haven't spent yet.
If the Stimulus cost 1 trillion dollars that is not debt.
What if through the Stimulus spending the Federal Government manages to "make more" money than before through Taxes, consumer spending, etc....
How can you say that the 1 trillion dollars is debt?
Exactly you CAN'T because it hasn't happened yet!
Thats like me saying I'm going to buy a house for 10 million dollars in 2010
So is my debt RIGHT NOW 10 million dollars?
Umm no its not because what if in 2009 I win the lottery for much more than that?
Thats why debt is whats present not whats in the future
And there is the crux of the problem...it's OK to spend all that money I don't have and have no clue where I am going to get because..."Some day I may win the lottery!" Brilliant! NOT!!!
Thats like me saying I'm going to buy a house for 10 million dollars in 2010. So is my debt RIGHT NOW 10 million dollars? Umm no its not because what if in 2009 I win the lottery for much more than that? Thats why debt is whats present not whats in the future
All that looks little too complicated for some on the right to comprehend. They seem to have trouble as well with the idea that spending a dollar today to save two dollars tomorrow can be a pretty good strategy. Then there's the we wouldn't actually have to be doing any of this at all if some folks recently running the government had done just a little bit of a better job of that factor that goes right over their heads......
Serene you are wrong and Ovacatto is right! Owned! and oh yeah nice try!
You can't have debt that you haven't spent yet.
If the Stimulus cost 1 trillion dollars that is not debt.
What if through the Stimulus spending the Federal Government manages to "make more" money than before through Taxes, consumer spending, etc....
How can you say that the 1 trillion dollars is debt?
Exactly you CAN'T because it hasn't happened yet!
Thats like me saying I'm going to buy a house for 10 million dollars in 2010
So is my debt RIGHT NOW 10 million dollars?
Umm no its not because what if in 2009 I win the lottery for much more than that?
Thats why debt is whats present not whats in the future
Which part of that $787 billion is not obligated money? Which part establishes businesses that will make money so the government can make money? Until you show me where the "made" money is coming from it seems to me that it has been spent and is, in fact, debt.
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