Lefties why do you give a pass on Obama debt when

Discussion in 'Politics' started by Lovebears65, Sep 10, 2012.

  1. Lovebears65
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    Lovebears65 Gold Member

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    He campaigned that it was unpatriotic to put so much debt. He has put on more debt then any other president ... Almost 6 T in less then 4 years.. why do you give him a pass ON everything...



    [ame=http://www.youtube.com/watch?v=DyLmru6no4U]Senator Obama calls Bush "unpatriotic" for adding trillions to debt www.RightFace.us - YouTube[/ame]
     
  2. Rozman
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    Rozman Gold Member Supporting Member

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    The lefties say Obama has not added one penny to our national debt....
     
  3. waltky
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    waltky Wise ol' monkey Supporting Member

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    In other words, look for taxes to go up to make up the shortfall...
    :mad:
    America's Underwater: Debt Equals 103 Percent of GDP
    September 11, 2012 - According to the most recent official estimate by the federal Bureau of Economic Analysis, the Gross Domestic Product for 2012 will be $15.6061 trillion--or about $440.5 billion less than the $16.0466 in debt that the federal government had accumulated as of the close of business on Monday.
     
  4. Chris
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    Chris Gold Member

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    The Obama budget deficits originated during the Bush presidency.....

    1. Tax cuts 2001-2002 (4 trillion over 10 years)
    2. Prescription drug benefits (1 trillion over 10 years)
    3. Economic meltdown of 2008 ( 3 trillion and rising)
    4. Wars in Iraq and Afghanistan (2 trillion and winding down)
     
  5. Chris
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    Chris Gold Member

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    A deflationary spiral is a situation where decreases in price lead to lower production, which in turn leads to lower wages and demand, which leads to further decreases in price. Since reductions in general price level are called deflation, a deflationary spiral is when reductions in price lead to a vicious circle, where a problem exacerbates its own cause. The Great Depression was a deflationary spiral.

    In a deflationary spiral the government HAS to be the demand of last resort. Obama and Congress handled this well in 2009 and should be commended for saving us from another Great Depression.
     
  6. Chris
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    Chris Gold Member

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  7. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says, "It's an economic Pearl Harbor! - an we's doin' it to ourselves...
    :eek:
    U.S. Added More Debt on First Day of FY13 Than From 1776 Through Pearl Harbor
    October 3, 2012 - The federal government added $93,245,605,914.16 to its debt on Oct. 1, the first day of fiscal 2013.
     
  8. waltky
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    waltky Wise ol' monkey Supporting Member

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    What went wrong?...
    :eusa_eh:
    Debt and the crisis: How did governments get it so wrong?
    2 November 2012 - The UK is not the only country whose government ended up borrowing much more than expected
     

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