Debt Per American Citizen Rises Even More Under Obamao
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While I agree Obama and his acolytes are choads of the first order I fear the national debt is at least close to out of control.
Hard to imagine that without a huge boom in the GDP and a big commitment to paying it down that just chasing the interest will be as close as we can get.
Allowing it to get this far out of control spells bad bad news for the future.
Whenever those chickens come home to roost there will be big serious trouble.
WSS
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The deficit was massive in 2009, for obvious reasons. It's almost impossible to reduce that and make a profit immediately, or even quickly. Still, it's gone down year on year and as a percent of GDP (which is the important part) it's about in line with the Bush debt. More should be done to actually eliminate the deficit, though, and start running a surplus. That's of course tricky with economic depression and multiple wars going on.
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With our system of government it will be next to impossible to drive down our national debt (now over 18 trillion plus and growing). Candidates who want to get elected will have a tough time winning elections on promising to cut back on spending over other candidates who want to keep up the out of control spending on the credit card.
History has shown that nations running up debt like this plus printing money with nothing behind it eventually leads to disaster. The fact it hasn't happened yet does not mean it cannot happen and who will bail the United States out?
We are taking in a record amount of tax revenue right now and that has not stopped the national debt from climbing higher which points to out of control spending as the problem.
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With our system of government it will be next to impossible to drive down our national debt (now over 18 trillion plus and growing). Candidates who want to get elected will have a tough time winning elections on promising to cut back on spending over other candidates who want to keep up the out of control spending on the credit card.
History has shown that nations running up debt like this plus printing money with nothing behind it eventually leads to disaster. The fact it hasn't happened yet does not mean it cannot happen and who will bail the United States out?
We are taking in a record amount of tax revenue right now and that has not stopped the national debt from climbing higher which points to out of control spending as the problem.
With our system of government it will be next to impossible to drive down our national debt (now over 18 trillion plus and growing). Candidates who want to get elected will have a tough time winning elections on promising to cut back on spending over other candidates who want to keep up the out of control spending on the credit card.
History has shown that nations running up debt like this plus printing money with nothing behind it eventually leads to disaster. The fact it hasn't happened yet does not mean it cannot happen and who will bail the United States out?
We are taking in a record amount of tax revenue right now and that has not stopped the national debt from climbing higher which points to out of control spending as the problem.
Not really. Higher tax income largely means higher wages or more people. More people means more services have to be provided, more needs to be spent on infrastructure and things like that.
Besides, GDP deficit is coming down steadily, so it's hardly out of control.
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I think it is out of control. Not only will the national debt be over 20 trillion by the time Obama leaves office then there is unfunded liabilities projected at up to 100 trillion dollars. Obama tried to spend our way out of recession with an almost trillion dollar stimulus that had little effect but gave us failed programs like Solyndra and cash for clunkers and a host of other not shovel ready jobs that was loaded with pork. We have very little to show for that trillion dollar stimulus.
The bad thing is we did the very thing the Japanese did in 1990 by trying to spend their way out of recession with stimulus spending which did not work and has haunted them up until present. When they tried to pay down the debt it put them back in recession and they never have fully recovered.
I see this country having done the same thing and will get the same results. We are going to have long term problems with this debt.
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Listen...the POINT is, Obamao said that BUSH's DEBT WAS UNPATRIOTIC.
He's the only asshole to say that, and yet, blow the debt to higher and higher levels.
NO, IT IS NOT IN LINE WITH BUSH'S DEBT.
dammit.
http://www.cbsnews.com/news/national-debt-has-increased-more-under-obama-than-under-bush/
http://useconomy.about.com/od/usdebtanddeficit/p/National-Debt-Under-Obama.htm
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Now, look at the freaking graph. Does anybody not understand that the little red line keeps going UP and UP ?????????
http://www.outsidethebeltway.com/has-national-debt-increased-more-under-obama-than-bush/
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I think you misunderstand the difference between debt and deficit. Still.
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the national deficit is deficit spending for the year.
The national debt is an accumulation of all the years
of deficit spending.
I think.
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Deficit spending is the gap between what you earn and what you spend. The national debt is what you owe so far.
If you reverse the gap you can reduce the debt.
WSS
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The debt has risen under every President ever to sit in office. Except Clinton. Every one.
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the national deficit is deficit spending for the year.
The national debt is an accumulation of all the years
of deficit spending.
I think.
the national deficit is deficit spending for the year.
The national debt is an accumulation of all the years
of deficit spending.
I think.
Not quite. See what steve said. It's the gap between what you earn and what you spend. And, in relative terms, it's around the same as pre-crisis, hovering between 2-4% of GDP annually.
Now, I'm not here saying that's good, or the end goal. But considering it was somewhere in the region of 10% in 2009, it's now reaching a more 'normal' level. It needs to go on and become a surplus if you ask me. Not every year, sometimes you need to invest a bit, but long term.
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I confused debt and deficit, so that was my mistake. And yes, under Clinton, we eliminated the deficit and had a surplus. When Bush came in he then wrote $600+ checks to every American which eliminated the surplus in an instant(120 billion dollars was mailed out and called a stimulus package). Stupid. Stupid Stupid. Here is a graphic from the Congressional Budget Office that shows it. Not a bogus source like the Blaze. The actual Guberment. Chris is right, the percentage of debt has remained the same. The deficit grew to a record size under Bush and now has been brought way down again(like Clinton did). Cant dent the truth when its right in front of you. Though Im sure someone will try.
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Okay, so what did Clinton do to make that happen? And why are we in recession at the end of his administration? And why were we rolling along like gangbusters until two years before the end of the Bush administration? And which party took control of both the houses right before the housing bubble burst?
And a whole bunch of other shit that we have no way of answering. Just saying.
WSS
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Okay, so what did Clinton do to make that happen? And why are we in recession at the end of his administration? And why were we rolling along like gangbusters until two years before the end of the Bush administration? And which party took control of both the houses right before the housing bubble burst?
And a whole bunch of other shit that we have no way of answering. Just saying.
WSS
Does anyone remember 80s? Did you have a computer? Did you have the internet? Probably not. Do you have one today? Yes you do and it's absolutely essential to modern life. What happened between those two? The 90s. The computer revolution was just that: a revolution. It changed everything, affected every industry and every office and every home in America...in the world...who was president in the 90s? Bill Clinton. He had little to do with it. His main contribution was not fucking up and paying the bills when there was huge amounts of money being made.Okay, so what did Clinton do to make that happen? And why are we in recession at the end of his administration? And why were we rolling along like gangbusters until two years before the end of the Bush administration? And which party took control of both the houses right before the housing bubble burst?
And a whole bunch of other shit that we have no way of answering. Just saying.
WSS
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