Reagan and the two Bushes created 93% of the National Debt by lowering taxes for the rich....
ReaganBushDebt.org
ReaganBushDebt.org
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did he have a time machine?
idiot
Are you drinking again?
The Bush tax cuts created a huge part of the deficit.
So to return things to the way they were when Clinton balanced the budget, they have to be repealed.
Ill make a deal with you. Cut spending to what it was during the Clinton administration and Ill consider a tax increase.
Okay, I did miss your intent with your post. The dot.com bubble started building in the mid 1980's and the housing bubble has been building since the Carter administration. I honestly am not well read on the dot.com bubble, but I have read a LOT on the housing bubble and the blame for that is squarely with administrations and congresses who essentially forced irresponsible lending and bundling of debt practices on the financial institutions and especially the Congress that failed to heed President Bush's repeated and clear warnings from 2005 through 2008 until the crash.
But if we keep electing people who will only give lip service to real reform but essentially make sure the status quo is maintained, nothing is going to get fixed until we have become 100% Europeanized and lose the great nation that the Founders gave us.
The snowball is rather large but America can rebound from this as well. What it can not rebound from is a society of those who feel entitled.
This coming from a Canadian? Go figure eh?
I hope so Ropey. I hope so. We need a lot more pressure from the Tea Party and movements/organizations like them in order to get enough real reformers into Congress and the White House though. I just hope they all have the will to keep fighting.
Well yes, they did do financial wizardry which is why the Democrats still brag that Clinton left GWB with a surplus and the Republicans say the GOP reformers Congress gave GWB a surplus and the truth is there was no surplus because that debt clock kept right on running. They were just able to put a little money into the treasury for a change, but it was committed for other stuff.
But still they all promise great things and they are forgiven by their party when they don't deliver and are blamed by the opposing party when they don't deliver.
Here's a good example of promises to free us from dependence on foreign oil explained as only Jon Stewart can explain it :
An Energy-Independent Future - The Daily Show with Jon Stewart - 06/16/10 - Video Clip | Comedy Central
You mentioned Reagan and Nixon. I said that they did not perform the financial wizardry that Clinton did. You responded with Clinton and Bush doing it.
That's my point. Clinton started this debt repackaging scheme. The Republicans were loathe to let such a fine generator of funds drop and after the first gulf war it was a necessary embedded feature.
Until it wasn't.
Well, at least they've ended the restructuring of old debt paid via repackaging with new debt and resold with approval by Fanny and Freddy as long term debt. That took the US to its' knees though. So did the dot.com, savings and loan manipulations as well. To my eyes, clearly Capitalism needs a watchdog because of the manipulators of it and not in and of itself.
Capitalism is under attack and the owners are fighting each other.
Okay, I did miss your intent with your post. The dot.com bubble started building in the mid 1980's and the housing bubble has been building since the Carter administration. I honestly am not well read on the dot.com bubble, but I have read a LOT on the housing bubble and the blame for that is squarely with administrations and congresses who essentially forced irresponsible lending and bundling of debt practices on the financial institutions and especially the Congress that failed to heed President Bush's repeated and clear warnings from 2005 through 2008 until the crash.
But if we keep electing people who will only give lip service to real reform but essentially make sure the status quo is maintained, nothing is going to get fixed until we have become 100% Europeanized and lose the great nation that the Founders gave us.
The snowball is rather large but America can rebound from this as well. What it can not rebound from is a society of those who feel entitled.
This coming from a Canadian? Go figure eh?
I hope so Ropey. I hope so. We need a lot more pressure from the Tea Party and movements/organizations like them in order to get enough real reformers into Congress and the White House though. I just hope they all have the will to keep fighting.
And a lot less from the OWS and other entitlement movements imo.
I don't discount the will of Americans Foxfyre. The proof of a viable Democracy is not in the voting of elected officials although that most certainly is a factor. It is the power to vote the bums out in a bums rush and yet still gain an orderly transfer of power.
This will be an interesting American voting cycle I think.
Reagan and the two Bushes created 93% of the National Debt by lowering taxes for the rich....
ReaganBushDebt.org
You mentioned Reagan and Nixon. I said that they did not perform the financial wizardry that Clinton did. You responded with Clinton and Bush doing it.
That's my point. Clinton started this debt repackaging scheme. The Republicans were loathe to let such a fine generator of funds drop and after the first gulf war it was a necessary embedded feature.
Until it wasn't.
Well, at least they've ended the restructuring of old debt paid via repackaging with new debt and resold with approval by Fanny and Freddy as long term debt. That took the US to its' knees though. So did the dot.com, savings and loan manipulations as well. To my eyes, clearly Capitalism needs a watchdog because of the manipulators of it and not in and of itself.
Capitalism is under attack and the owners are fighting each other.
Okay, I did miss your intent with your post. The dot.com bubble started building in the mid 1980's and the housing bubble has been building since the Carter administration. I honestly am not well read on the dot.com bubble, but I have read a LOT on the housing bubble and the blame for that is squarely with administrations and congresses who essentially forced irresponsible lending and bundling of debt practices on the financial institutions and especially the Congress that failed to heed President Bush's repeated and clear warnings from 2005 through 2008 until the crash.
But if we keep electing people who will only give lip service to real reform but essentially make sure the status quo is maintained, nothing is going to get fixed until we have become 100% Europeanized and lose the great nation that the Founders gave us.
The dot com bubble was building in the mid 1980's?
WTF?
And no one "forced irresponsible lending." That is total bullshit.
The $516 trillion dollar derivatives Ponzi scheme that Wall Street ran is the bubble that destroyed the world economy.
Okay, I did miss your intent with your post. The dot.com bubble started building in the mid 1980's and the housing bubble has been building since the Carter administration. I honestly am not well read on the dot.com bubble, but I have read a LOT on the housing bubble and the blame for that is squarely with administrations and congresses who essentially forced irresponsible lending and bundling of debt practices on the financial institutions and especially the Congress that failed to heed President Bush's repeated and clear warnings from 2005 through 2008 until the crash.
But if we keep electing people who will only give lip service to real reform but essentially make sure the status quo is maintained, nothing is going to get fixed until we have become 100% Europeanized and lose the great nation that the Founders gave us.
The dot com bubble was building in the mid 1980's?
WTF?
And no one "forced irresponsible lending." That is total bullshit.
The $516 trillion dollar derivatives Ponzi scheme that Wall Street ran is the bubble that destroyed the world economy.
The Dot.com, Savings and Loan and Credit Default Swapping were all three events of financial manipulations by open restriction free financing. I only attached them to show that the pattern of financial manipulation follows an unchecked Capitalistic momentum.
The repackaging of Government debt is a different manipulation in that it was performed by the Government. This is why the debt could not lower.
It's like really hard to lower the debt when you are repackaging the ones that would default into future debt and using those packages to pay for the oil and goods that you are selling today.
America sold a lot of oil on that repackaged debt. It imported a lot of commodity on that debt and because of this the debt was never lowered other than by pretending to a balancing of Government lies.
I do not attach the Credit Default Swapping and repackaging of American loans with the restructuring of debt payment to countries that America is purchasing and paying with future debt.
That's not on the backs of Wall Street imo. I never said Wall Street was clean.
The dot com bubble was building in the mid 1980's?
WTF?
And no one "forced irresponsible lending." That is total bullshit.
The $516 trillion dollar derivatives Ponzi scheme that Wall Street ran is the bubble that destroyed the world economy.
The Dot.com, Savings and Loan and Credit Default Swapping were all three events of financial manipulations by open restriction free financing. I only attached them to show that the pattern of financial manipulation follows an unchecked Capitalistic momentum.
The repackaging of Government debt is a different manipulation in that it was performed by the Government. This is why the debt could not lower.
It's like really hard to lower the debt when you are repackaging the ones that would default into future debt and using those packages to pay for the oil and goods that you are selling today.
America sold a lot of oil on that repackaged debt. It imported a lot of commodity on that debt and because of this the debt was never lowered other than by pretending to a balancing of Government lies.
I do not attach the Credit Default Swapping and repackaging of American loans with the restructuring of debt payment to countries that America is purchasing and paying with future debt.
That's not on the backs of Wall Street imo. I never said Wall Street was clean.
You are wrong. It was entirely Wall Street.
Wall Street ran a $516 trillion dollar derivatives Ponzi scheme that destroyed the world economy.
The Dot.com, Savings and Loan and Credit Default Swapping were all three events of financial manipulations by open restriction free financing. I only attached them to show that the pattern of financial manipulation follows an unchecked Capitalistic momentum.
The repackaging of Government debt is a different manipulation in that it was performed by the Government. This is why the debt could not lower.
It's like really hard to lower the debt when you are repackaging the ones that would default into future debt and using those packages to pay for the oil and goods that you are selling today.
America sold a lot of oil on that repackaged debt. It imported a lot of commodity on that debt and because of this the debt was never lowered other than by pretending to a balancing of Government lies.
I do not attach the Credit Default Swapping and repackaging of American loans with the restructuring of debt payment to countries that America is purchasing and paying with future debt.
That's not on the backs of Wall Street imo. I never said Wall Street was clean.
You are wrong. It was entirely Wall Street.
Wall Street ran a $516 trillion dollar derivatives Ponzi scheme that destroyed the world economy.
Where did I say that the restructuring of debt by the US Federal Government was the Derivative scheme?
I just detached them very clearly for you.
Or can you only see one thing at a time?
Funny. When people have jobs. When the economy is growing. When infrastructure is being built. When people are being educated. The debt goes down. When Republicans are elected president, everything, and I mean everything, goes the other way. Odd that.
It's not about the economy Jroc.
It's about winning elections. That's the major disconnect Jroc. That's the problem. By the time a President is elected he's already looking towards a second term. Remember what Obama said about a second term.
This is the reason (imo) why the Republicans continued the Clinton money grab. Greed. Republicans need to get back from the dance they did with the spenders. Not back to the center, but hard right of center because they've been drifting since Clinton
This is a new time Ropey we can't play these games anymore. I don't advocate center thats for sure, a question was asked, I answered it. I think Ryan has good ideas and he is a solutions man. His plan would definitely be considered hard right of center
If you look at the debt to gdp per country page on that debt clock you will see that the countries who are actually utilizing their natural resources have low levels of debt, in fact their debt levels are DECREASING. We could do the same, no?
Oh yeah... the EPA.
...Ron Paul's 'trim government' approach???
Reagan and the two Bushes created 93% of the National Debt by lowering taxes for the rich....
ReaganBushDebt.org
Not possible, over 25% of the national debt has come to be since Obama took office.
Reagan and the two Bushes created 93% of the National Debt by lowering taxes for the rich....
ReaganBushDebt.org
Not possible, over 25% of the national debt has come to be since Obama took office.
There is a bit of symantics involved, considering the Obama Administration is a twin brother of a different mother to the Bush II administration. He kept many of the same bureaucrats and most of the money-hemmoraging policies, including the wars and the bullshit tax code, that made Bush so easy to piss on.
Okay, I did miss your intent with your post. The dot.com bubble started building in the mid 1980's and the housing bubble has been building since the Carter administration. I honestly am not well read on the dot.com bubble, but I have read a LOT on the housing bubble and the blame for that is squarely with administrations and congresses who essentially forced irresponsible lending and bundling of debt practices on the financial institutions and especially the Congress that failed to heed President Bush's repeated and clear warnings from 2005 through 2008 until the crash.
But if we keep electing people who will only give lip service to real reform but essentially make sure the status quo is maintained, nothing is going to get fixed until we have become 100% Europeanized and lose the great nation that the Founders gave us.
The dot com bubble was building in the mid 1980's?
WTF?
And no one "forced irresponsible lending." That is total bullshit.
The $516 trillion dollar derivatives Ponzi scheme that Wall Street ran is the bubble that destroyed the world economy.
The Dot.com, Savings and Loan and Credit Default Swapping were all three events of financial manipulations by open restriction free financing. I only attached them to show that the pattern of financial manipulation follows an unchecked Capitalistic momentum.
The repackaging of Government debt is a different manipulation in that it was performed by the Government. This is why the debt could not lower.
It's like really hard to lower the debt when you are repackaging the ones that would default into future debt and using those packages to pay for the oil and goods that you are selling today.
America sold a lot of oil on that repackaged debt. It imported a lot of commodity on that debt and because of this the debt was never lowered other than by pretending to a balancing of Government lies.
I do not attach the Credit Default Swapping and repackaging of American loans with the restructuring of debt payment to countries that America is purchasing and paying with future debt.
That's not on the backs of Wall Street imo. I never said Wall Street was clean.