Debt creates more debt

Discussion in 'Economy' started by LilOlLady, Jul 30, 2011.

  1. LilOlLady
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    LilOlLady Gold Member

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    DEBT CREATES MORE DEBT
    if you don’t have a job and no cash coming in.

    President Clinton gave Dead Beat Bush the country's check book with a balance of $127 billion.

    (Bush pushed through tax cuts totaling $1.85 trillion and raised government spending 23 percent in his first four years in office to $2.29 trillion.)
    And Bush took it and spent it and then wrote checks for two wars and a Medicare prescription drug program that he did not have cash to cover. Then on top of that he gave jobs away to other countries and gave blank checks he did not have cash to cover to his bed buddies that did not repay the money. Then at the end of his 8 years of handling the countries check book he handed it over to Obama with $10.7 trillion in overdrawn checks and disappeared.

    (When Obama took office, the debt stood at 10.7 trillion dollars. Its 14.3. trillion as we speak, and it has to go higher to keep the country from collapsing.)
    If we had taken the check book away from Bush we would not be in debt today. What happens when you have a credit card and don’t have a job, you keep asking for a higher credit limit and running the debt up even further. And what happen when you give a check book to someone who cannot balance a check book.

    So Obama took the check book and tried to balance it by collecting the cash that Bush gave his bed buddies for bush’s bed buddies and create jobs but the tea baggers blocked everything he tried to do to balance the country’s check book.

    You cannot balance the countries check book by taking away food and air from the county’s weakest citizens. You need hard cash.
     
  2. iamwhatiseem
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    iamwhatiseem Gold Member

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    There is so much Kool Aid in this post that one cannot fathom the mountain of sugary substance that it took to produce such nonsense.
     
    • Agree Agree x 1
  3. imbalance
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    imbalance Silver Member

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    Know what else Clinton gave Bush? Free trade with China, which only directly destroyed the US middle class.
     
  4. Truthseeker420
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    Truthseeker420 Gold Member

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    Clinton also signed the Gramm–Leach–Bliley Act.
     
  5. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says, "Dat's right - dem democrats got dollar signs in dey's eyes...

    Debt Up $13,546,533,671,676.73 Since Pelosi Became Democratic Leader
    November 30, 2016 | The federal debt has increased by $13,546,533,671,676.73 since Rep. Nancy Pelosi of California first became the Democratic leader in the House of Representatives on Jan. 3, 2003.
     
  6. EdwardBaiamonte
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    EdwardBaiamonte Platinum Member

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    Republicans have introduced 30 Amendments to make debt illegal. Democrats have killed everyone of them. Do you know why?
     
  7. waltky
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    waltky Wise ol' monkey Supporting Member

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    Another trillion dollars added to nat'l. debt
    [​IMG]
    Federal Debt Climbs $1,054,647,941,626.91 in 2016
    January 3, 2017 | The federal debt climbed by more than a trillion dollars during 2016, according to data released today by the U.S. Treasury.
    See also:

    House Passes New Rules Enhancing Its Constitutional ‘Power of the Purse’
    January 4, 2017 – The House of Representatives adopted changes to the chamber’s standing rules on Tuesday that “enhance the House’s ability to exercise its ‘power of the purse’,” according to House Freedom Caucus member Rep. Morgan Griffith (R-VA).
    Related:

    Sen. Lankford: 'This Year, There's a Half Trillion in Overspending'
    December 9, 2016 | Sen. James Lankford (R-OK) says Congress will not be able to exercise its oversight responsibility regarding federal expenditures – including a half-trillion dollars in overspending this year alone - until regular order is restored and individual appropriations bills are once again debated and amended on the floor of the House and Senate.
     
    Last edited: Jan 4, 2017
  8. Uncensored2008
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    Uncensored2008 Libertarian Radical Supporting Member

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    Drunk again, huh?

    All we are saying, is give sobriety a chance...
     
  9. ScienceRocks
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    ScienceRocks Blue dog all the way!

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    The only way we can fix our debt problems without doing super amounts of damage to our leadership.
    1. Fix our healthcare system. It would be wise to go over to single payer.
    2. Stop going to wars and building up other nations.
     
  10. EdwardBaiamonte
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    EdwardBaiamonte Platinum Member

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    wrong of course. USSR and Red China tried single payer communism in all industries and had about 20% of our standard of living. Do you know about these countries?
     

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