The result of the growth in our national debt is to place the financial viability of our country in great peril. Many of us were upset with the growth of the national debt under the eight-year Bush administration, during which it rose from 57 percent of GDP to 69 percent, a 20 percent increase. However, from 2008 to the present this rate has risen from 69 percent to 103 percent, a further 49 percent increase. At 103 percent, the United States is in the range of Ireland and Portugal which report 108 percent. We are still well below Greece at 165 percent, but Greece rose “only” 60 percent from 2000 to get to this rate while the U.S. rate has risen 81 percent since 2000. This is clearly unsustainable. This data is from “tradingeconomics.com”.
If the country is not saved from the future fiscal disaster of “Obamacare” by the Supreme Court or a new fiscally responsible administration, this bill could well be its tipping point.
We have met the enemy, and he is us. We must demand that our legislative and administrative leadership reverse this growth of debt before it sinks us. Please pray for our country and our leaders and vote for fiscal conservatives in November.
Excellent analysis and insight.
Rhuidean
There's a short cut to the argument: Bush started two wars and then cut taxes. That's pure stupidity.
Now the republicans want Bush II in Romney, who the chickenhawks are already pushing to attack Iran if he is elected. Gee, I wonder if their hands are in the the Military-Industrial-Oil cookie jar (or maybe they are wrapped around the MIO's pinky).
And while Romney and the rest of the Republican politicians are being bought by billionaires under Citizens United, those same billionaires are programming the constituency through Fox News.
In other words you have no idea how to rebut my argument and simply disagree with factual comments.
WOW....
Now as to Fox.....Numerous studies have revealed that Fox viewers have on average the lowest IQ's, Were the most racist and uninformed citizens in America.
I think it's ill advised to defend them but if you want to got their then OK.
Former Roman,
You are correct that Obama extend the Bush tax cuts.....What you failed to mention is that he did so in an effort to extend the debe ceiling and protect Americas credit rating.
In the end even after this compromise the Republicans and Tea Party winguts still caused us to lose our AAA rating.
When the announcement of the lowered credit rating aired the Tea party loons cheered...
Yes I remember the moment well....
BTW I Included the Bush tax cut extensions in the 983 Billion dollars that Obama has spent to date so my figures are still valid.
I have said this many times....This debate is not really about the debt.....The financials prove that.
Rhuidean
Blah Blah Blah.........Got any facts to go along with the snark?
Come on and dazzle me...I will wait.
Rhuidean
I got your name wrong. Mea Culpa
Rhuidean
Not sure why this posted 3 times though
Your letter is completely inaccurate and stands as example of low information voters being led by FOX news in a carnival of idiocy.
I constantly hear Republicans and Tea Party types proclaiming that the Obama administration has been spending like a drunken sailor.
So lets look at where the money is going....Lets examine which of President Obamas policies are costing so much.
You Wrote:In fact, the national debt has increased by $5 trillion or 50 percent under this administration. This is the highest rate of growth under any U.S. president.
At face value this is a fact......However even the most cursory examination renders this statement completely wrong.
Of the 5 Trillion dollars you rail about here is the breakdown by policy and president.
The following policies of President Bush are still adding to the deficit:
Bush Tax Cuts: 1.812 Trillion
Bush Iraq and Afghanistan costs 853 Billion
Other Tax Breaks 480 Billion
Other DOD Spending 616 Billion
Non DOD Discretionary Spending 616 Billion
Other Entitlement Spending 293 Billion
TARP 224 Billion (This is mostly paid back)
Prescription Drug Spending 180 Billion
When you add all these us the total is
5 Trillion 322 Billion
Thats a LOT of Deficit.....
Obama's policies that increase the deficit
983 Billon total for everything to date.
When we liberals continue to blame Bush for the nations financial problems we have data that proves we are correct.
Figures courtesy of the Congressional Budget Office
Only the most uninformed low information voters would EVER trust conservatives on the Economy.
Seems that you fit that description.
Rhuidean
Your letter is completely inaccurate and stands as example of low information voters being led by FOX news in a carnival of idiocy.
I constantly hear Republicans and Tea Party types proclaiming that the Obama administration has been spending like a drunken sailor.
So lets look at where the money is going....Lets examine which of President Obamas policies are costing so much.
You Wrote:In fact, the national debt has increased by $5 trillion or 50 percent under this administration. This is the highest rate of growth under any U.S. president.
At face value this is a fact......However even the most cursory examination renders this statement completely wrong.
Of the 5 Trillion dollars you rail about here is the breakdown by policy and president.
The following policies of President Bush are still adding to the deficit:
Bush Tax Cuts: 1.812 Trillion
Bush Iraq and Afghanistan costs 853 Billion
Other Tax Breaks 480 Billion
Other DOD Spending 616 Billion
Non DOD Discretionary Spending 616 Billion
Other Entitlement Spending 293 Billion
TARP 224 Billion (This is mostly paid back)
Prescription Drug Spending 180 Billion
When you add all these us the total is
5 Trillion 322 Billion
Thats a LOT of Deficit.....
Obama's policies that increase the deficit
983 Billon total for everything to date.
When we liberals continue to blame Bush for the nations financial problems we have data that proves we are correct.
Figures courtesy of the Congressional Budget Office
Only the most uninformed low information voters would EVER trust conservatives on the Economy.
Seems that you fit that description.
Rhuidean
Your letter is completely inaccurate and stands as example of low information voters being led by FOX news in a carnival of idiocy.
I constantly hear Republicans and Tea Party types proclaiming that the Obama administration has been spending like a drunken sailor.
So lets look at where the money is going....Lets examine which of President Obamas policies are costing so much.
You Wrote:In fact, the national debt has increased by $5 trillion or 50 percent under this administration. This is the highest rate of growth under any U.S. president.
At face value this is a fact......However even the most cursory examination renders this statement completely wrong.
Of the 5 Trillion dollars you rail about here is the breakdown by policy and president.
The following policies of President Bush are still adding to the deficit:
Bush Tax Cuts: 1.812 Trillion
Bush Iraq and Afghanistan costs 853 Billion
Other Tax Breaks 480 Billion
Other DOD Spending 616 Billion
Non DOD Discretionary Spending 616 Billion
Other Entitlement Spending 293 Billion
TARP 224 Billion (This is mostly paid back)
Prescription Drug Spending 180 Billion
When you add all these us the total is
5 Trillion 322 Billion
Thats a LOT of Deficit.....
Obama's policies that increase the deficit
983 Billon total for everything to date.
When we liberals continue to blame Bush for the nations financial problems we have data that proves we are correct.
Figures courtesy of the Congressional Budget Office
Only the most uninformed low information voters would EVER trust conservatives on the Economy.
Seems that you fit that description.
Rhuidean