What caused the national debt?

rightwinger

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What caused the national debt? 6 culprits - The Week

1. The Bush tax cuts
The biggest culprit? The 2001 and 2003 tax cuts under then-president George W. Bush, says the Associated Press. They have added an estimated $1.6 trillion to the national debt. It's pretty clear, says Brian Beutler at Talking Points Memo, that Bush-era policies, "particularly debt-financed tax cuts," make up "the lion's share of the problem." And they're ongoing, so the tab for them builds every year.

2. Health care entitlements
Democrats "constantly harp" about the Bush tax cuts, says Peter Morici at Seeking Alpha, but those rates were in place in 2007, and the deficit that year was one-tenth this year's budget shortfall of $1.6 trillion. So what has changed since then? Added "federal regulation, bureaucracy, and new Medicaid and other entitlements have pushed up federal spending by $1.1 trillion — $900 billion more than required by inflation." And down the road, says Yuval Levin at National Review, our "health-entitlement explosion" will account for "basically 100 percent" of our debt problem.

3. Medicare prescription drug benefit
Another piece of the pie: George W. Bush's addition of Medicare's prescription drug benefit. That has added $300 billion to the debt, according to the AP. Expanding entitlements like Medicare, or last year's health-care reform package, is a particularly tempting way for Congress to run up debt, says Jagadeesh Gokhale at The Daily Caller. Since lawmakers don't typically map out a revenue strategy to fund those benefits, they are "shielded from the political costs of actually paying for the new programs."

4. The wars in Iraq and Afghanistan
The tab for the wars in Iraq and Afghanistan comes to $1.3 trillion, another major chunk of new, unexpected spending over the last decade. "These wars cost us plenty," says Nake M. Kamrany at The Huffington Post, and they "have to be financed with borrowing, which adds up to national debt."

5. Obama's economic stimulus
The 2009 stimulus package enacted by President Obama cost $800 billion. And the 2010 tax-cut compromise between Obama and Republicans, which extended jobless benefits and reduced payroll taxes, added another $400 billion to the debt. Add another $200 billion for the 2008 bailout of the financial industry, and the government's efforts to soften the blow of the Great Recession amount to one of the largest chunks of the debt build-up. The "federal budget was one good year away from balancing" after 2007, says Tom Blumer at News Busters. But in the years since, Obama and Democrats in Congress put that goal out of reach.

6. The Great Recession
Some of the spending gap came from factors outside the control of Congress and the White House. As the government spent heavily to boost the economy, says the AP, it took in hundreds of billions less in tax revenue than expected, because the Great Recession eroded Americans' income and spending.
 
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These must be todays Democrat talking points because Obama is on TV saying this. Of course he neglects the 3 additional wars he's gotten us into.
 
how anyone can be so brain twisted as to pretend this whole mess was not nudged along by the Bush policies is beyond the pale.


No wonder this country is so screwed up.
 
Spending more than they took in. Yes ... it really is that simple.
 
Not to be a smart-ass...but...this is a dumb question.
Spending more than you have causes deficits....as someone said above - it is that simple.
Reagan/Clinton/Bush/and now ESPECIALLY Obama...more was spent during their time in office than the government took in.
 
how anyone can be so brain twisted as to pretend this whole mess was not nudged along by the Bush policies is beyond the pale.


No wonder this country is so screwed up.

Hey dumbo.

Read the link.

Over 700 Billion, with a B, is what his tax cuts produced. I'll be waiting to see what Barry's tax hikes produce.

They all spent like druken sailors. Your golden Dems included.
 
I gave a thnks to everyone but TM.
She certainly said nothing that added to the discussion.

In a nutshell...

Our politicians found out that their careers will last longer if they keep on spending money on gifts and toys for the people.

We, the people, like stuff. So we vote for people who give it to us.
 
A combination of special interests, the political process, and the corruption of the tax code.

The power of special interests on our representatives is abominable. They were elected to represent the people but instead they represent the corporations or special interests that send lobbyists to Washington. They serve the special interests, not the people.

The political process has been bastardized so much that the people are blind to who is leading them. The prime force driving the elections is money not ideas or issues. Money for the candidates. Its like feeding the hogs, toss some feed out and they are all over themselves, biting each other, squealing, pushing to get their little piece. And then shitting all over the place to appease the the ones giving the money.

Taxes area necessary evil in the conduct of government. Everyone should have to pay their fair share yet in the US that ideal has been corrupted by those in power to appease the money givers. Many big companies (as has become noted lately) do not pay taxes, the over all tax rate for the rich has been slashed in the last 40 years and the tax code contains so many loopholes that it looks like a bullet riddled tin can.

Spending?
Why do we insure people who build in flood plains? They get flooded out year after year and we let them rebuild in the same place year after year.
Space? We have long passed the point (economically) where we can afford to play in human spaceflight.
Wars? Lets stop being the worlds enforcer and spend that money here for infrastructure that is falling apart. The Federal interstate system is 50 to 60 years old and is starting to deteriorate and cities across this land are having serious problems with sewage systems, water supplies and basic streets and roads. If we lose our infrastructure we become a third world county over night.

We spend to much and do not bring enough in. Basic, simple math!!!
 
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No matter what these libs may think through a total brainwashing, it took both parties to get this deficit. They will never admit it, and they will get it down to blaming one person. :lol:

Geeze, nothing but Kool-Aid drinkers.

TDM drinks it by the gallon.

She will never admitt that her Golden Dems are as much to blame as the GOP. They were in there spending just like the Reps.

Its all BUUUUSSSSSHHHSSSS Fault though.
 
how anyone can be so brain twisted as to pretend this whole mess was not nudged along by the Bush policies is beyond the pale.


No wonder this country is so screwed up.

The real question is how can anyone be so twisted as to pretend this whole mess is Bush's fault when we've established this culture of spending more than we take in for over 80 years and our current administration is a pro at making it much worse.
 

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