Bear12feet
Member
- Aug 14, 2011
- 148
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After reading all the serious financial reports and serious USA situation and world society situation, do you think Obama will complete his 1 term as president?
USA and world society will be unrecognizable by year 2012.
Read this:
In 2007, when the economy was still doing fine, The Federal Govt took in $2,568 TRILLION in revenue and we spent $2,629 Trillion for a deficit of $161 Trillion.
Now a mere 4 years later, we are spending $3.7 TRILLION while taking in only $2.1 trillion. For a deficit of $1.6 Trillion. OR 10 times the deficit of FOUR YEARS AGO. Who knew that Bush would be "the good old days?" Revenue is down because the economy is down. spending is up because we have a Socialist, Giant Government believing president in the White House and a Democratic Congress that loves to spend other peoples money. Now the face of Congress is changing. If the government would get out of the way of business and SHOW business that the government wants them to do well. Mainly by reducing regulations on business and taxes on business since the taxes in the USA between Federal and States are the highest of any nation in the world. Then business could and would begin to expand. And TAXES on the rich and everyone else were exactly the same in 2007 as they were in 2010. Now since obama and the Democrats extended and increased to tax cuts, taxes are lower NOW than they were in Bush's time. Individual taxes, not business taxes.
So if we could get spending back to where it was in 2007 and get revenue just $200 billion above where it was in 2007, we would HAVE a balanced budget.
USA and world society will be unrecognizable by year 2012.
Read this:
In 2007, when the economy was still doing fine, The Federal Govt took in $2,568 TRILLION in revenue and we spent $2,629 Trillion for a deficit of $161 Trillion.
Now a mere 4 years later, we are spending $3.7 TRILLION while taking in only $2.1 trillion. For a deficit of $1.6 Trillion. OR 10 times the deficit of FOUR YEARS AGO. Who knew that Bush would be "the good old days?" Revenue is down because the economy is down. spending is up because we have a Socialist, Giant Government believing president in the White House and a Democratic Congress that loves to spend other peoples money. Now the face of Congress is changing. If the government would get out of the way of business and SHOW business that the government wants them to do well. Mainly by reducing regulations on business and taxes on business since the taxes in the USA between Federal and States are the highest of any nation in the world. Then business could and would begin to expand. And TAXES on the rich and everyone else were exactly the same in 2007 as they were in 2010. Now since obama and the Democrats extended and increased to tax cuts, taxes are lower NOW than they were in Bush's time. Individual taxes, not business taxes.
So if we could get spending back to where it was in 2007 and get revenue just $200 billion above where it was in 2007, we would HAVE a balanced budget.
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