Last night it wouldn't let me make a new thread, so now here it is...
Here is a lovely little statistic about how both stack up with spending. Obama will surpass every dime that was spent by the Bush adminsitration in 20 months and 11 days of his presidency. No matter who he increases taxes on our FEDERAL debt is projected to increase by 1.35 T in 2011 alone. The current federal debt is aroud 5 T. Go figure.
Just saw this. FFS stop confusing the National Debt with the Federal Debt.
Federal Debt = 5 T Public Debt = 7 T National Debt = 12 T
Public Debt is everything the American people owe on their homes, cars, credit cards, loans, and a plethora of other things they have not paid for. Do I have to post the stupid chart YET AGAIN??? In one thread someone else reposted it as people still didn't get the point...
Well thanks to his little war for oil we owe quite a bit of money; particularly to China. Greenspan, head of the federal reserve during the Bush Administration, lowered interest rates. These lower rates allowed people to get mortgages that they had no chance in hell that they could afford. The Housing bubble went up, and then it popped.
Somehow I don't think you can blame Bush for you taking out a loan to get a 2 story house.
Considering it's exactly that kind of transaction that enabled the financial crisis to occur, then yes it is something the government should have been looking into, and yes there are plenty of policies the treasury could implement to limit these practices.
Oh, and FYI, national debt is enabled by artifically created federal reserves.
lLso your graph kind of made me lol. It's pretty clear that up til 2009, the democrats have consistently lowered the federal debt from a republican high point. I guess they were too busy killing godless communists/muslims to realise they were spending a lot of money doing it.
Bush had alot on his plate alot of people forget that. You blame him for starting a war that "was not needed" ok think about this if Bush did not take action do you dare think how manny would be dead now? So before you go around calling Bush an idiot and saying he put the USA in to debt think what would happen if he did not.
ok think about this if Bush did not take action do you dare think how manny would be dead now? So before you go around calling Bush an idiot and saying he put the USA in to debt think what would happen if he did not.
A couple thousand American/NATO troops would still be alive. Along with a couple Trillion dollars come to mind.
Bush had alot on his plate alot of people forget that. You blame him for starting a war that "was not needed" ok think about this if Bush did not take action do you dare think how manny would be dead now? So before you go around calling Bush an idiot and saying he put the USA in to debt think what would happen if he did not.
lol this makes me laugh. Why because it shows just how ignorant people are of how things work. I'll assume you are an American, if you're not I apologize Blood Wolf. However, I'll assume so for now. I'm Canadian in case you care (score one for Universal Health Care).
Right so let us assume George Bush Jr did NOT decide let's go blow up the Middle East. What would have happened? Well probably nothing. You see the East hates the Western World, and I mean HATES. See Bush probably did more harm than good by going to Afganistan and then for reasons unknown Iraq (don't feed my the WMD bull). If you invade, fuck up and then try to employ a new government in a country they're not going to like you. In fact they will probably hate you more than they did before hand.
And to the issue of the economy. Like balerion07 says, recessions are a natural thing. It happens and it will go away, and then after some time it will happen again. As for American debt and what not, well I would blame Bush, but then again Bush was an idiot. I happen to like Obama and to the Republicans who fear "evil socialism" I would like you to note that the countries with the best health care programs are also those that have universal health care.
