Who and what is to blame for the debt crisis

[mudwhistle]

The Reagan-Bush Debt is how much of the national debt of the United States is attributable to the presidencies of Ronald Reagan, George H. W. Bush, George W. Bush, and
the Republican fiscal policy of Borrow-And-Spend.

As of Friday, December 16, 2011 at 2:32:01PM CT,

The Current ReaganBush Debt is:
$14,169,002,968,508.90
which means that in a total of 20 years,
these three presidents have led to the creation of
93.81%
of the entire national debt
in only 8.5106% of the 235 years of the existence of the United States of America.

ReaganBushDebt.org

Simply repeating figures from a unofficial site is not an effect way of proving your point.

The debt has grown by 5 trillion since Obama swore in. It is now over 15 trillion, which means that under Obama's watch the debt has grown by 30 percent in 3 years as opposed the 20 years that preceded Obama. It went up one trillion since they raised the debt ceiling in July.

He complains about the debt and the mess Bush left him yet he has caused more debt in less time than anyone since WWII.

God, why are some of you so ignorant! Bush debt exploded over several years. Obama's contritution was all at once. That's why it looks like Obama spent more, but he didn't!

Read the articles for Godsakes.

Bush couldn't spend on his own. The debt skyrocketed once the Dems took both houses of Congress. They used the media to scare him into massive spending on just about everything. The war and several natural disasters helped increase the debt, but Bush was just getting a handle on the debt through tax-cuts which increased revenue and reductions in spending....then the Dems won Congress and the deficit shot up in 08'.


The Bush Deficits vs Obama Deficits

Remember all of the calls for increased spending in the following areas:

The Stimulus Bill $1.1 trillion
The TARP bill $700 billion
2007 Spending bill $463.5 billion



The current national debt: U.S. Government National Debt: What they Won't Tell You

The debt is increasing because of compounding interest, unemployment payments, and ever increasing Social Security payments.

 

[Billy000]

Simply repeating figures from a unofficial site is not an effect way of proving your point.

The debt has grown by 5 trillion since Obama swore in. It is now over 15 trillion, which means that under Obama's watch the debt has grown by 30 percent in 3 years as opposed the 20 years that preceded Obama. It went up one trillion since they raised the debt ceiling in July.

He complains about the debt and the mess Bush left him yet he has caused more debt in less time than anyone since WWII.

God, why are some of you so ignorant! Bush debt exploded over several years. Obama's contritution was all at once. That's why it looks like Obama spent more, but he didn't!

Read the articles for Godsakes.

Bush couldn't spend on his own. The debt skyrocketed once the Dems took both houses of Congress. They used the media to scare him into massive spending on just about everything.


The Bush Deficits vs Obama Deficits

Remember all of the calls for increased spending in the following areas:

The Stimulus Bill $1.1 trillion
The TARP bill $700 billion
2007 Spending bill $463.5 billion



The current national debt: U.S. Government National Debt: What they Won't Tell You

How about you try reading the article I posted, because you obviously haven't. Educate your self. That graph is intentionally misleading. YOu'd understand why if you read my article.

 

[mudwhistle]

God, why are some of you so ignorant! Bush debt exploded over several years. Obama's contritution was all at once. That's why it looks like Obama spent more, but he didn't!

Read the articles for Godsakes.

Bush couldn't spend on his own. The debt skyrocketed once the Dems took both houses of Congress. They used the media to scare him into massive spending on just about everything.


The Bush Deficits vs Obama Deficits

Remember all of the calls for increased spending in the following areas:

The Stimulus Bill $1.1 trillion
The TARP bill $700 billion
2007 Spending bill $463.5 billion



The current national debt: U.S. Government National Debt: What they Won't Tell You

How about you try reading the article I posted, because you obviously haven't. Educate your self. That graph is intentionally misleading. YOu'd understand why if you read my article.

The graph tells the story. It's crystal clear.

 

[edthecynic]

The Reagan-Bush Debt is how much of the national debt of the United States is attributable to the presidencies of Ronald Reagan, George H. W. Bush, George W. Bush, and
the Republican fiscal policy of Borrow-And-Spend.

As of Friday, December 16, 2011 at 2:32:01PM CT,

The Current ReaganBush Debt is:
$14,169,002,968,508.90
which means that in a total of 20 years,
these three presidents have led to the creation of
93.81%
of the entire national debt
in only 8.5106% of the 235 years of the existence of the United States of America.

ReaganBushDebt.org

Simply repeating figures from a unofficial site is not an effect way of proving your point.

The debt has grown by 5 trillion since Obama swore in. It is now over 15 trillion, which means that under Obama's watch the debt has grown by 30 percent in 3 years as opposed the 20 years that preceded Obama. It went up one trillion since they raised the debt ceiling in July.

He complains about the debt and the mess Bush left him yet he has caused more debt in less time than anyone since WWII.

Certainly you can't blame Obama for the spending he inherited the day he took office and the interest on the debt he inherited. The interest is nearly half a trillion per year, and the inherited spending on Bush's two wars and Medicare part D accounts for most of "Obama's debt."

Oh that's Right, you're a CON$ervative so you DO blame Obama for the residual GOP spending.

'I don't worry about the deficit. It's big enough to take care of itself.'
Ronald Reagan

"Reagan proved deficits don't matter."
Dick Cheney

 

[edthecynic]

Simply repeating figures from a unofficial site is not an effect way of proving your point.

The debt has grown by 5 trillion since Obama swore in. It is now over 15 trillion, which means that under Obama's watch the debt has grown by 30 percent in 3 years as opposed the 20 years that preceded Obama. It went up one trillion since they raised the debt ceiling in July.

He complains about the debt and the mess Bush left him yet he has caused more debt in less time than anyone since WWII.

God, why are some of you so ignorant! Bush debt exploded over several years. Obama's contritution was all at once. That's why it looks like Obama spent more, but he didn't!

Read the articles for Godsakes.

Bush couldn't spend on his own. The debt skyrocketed once the Dems took both houses of Congress. They used the media to scare him into massive spending on just about everything. The war and several natural disasters helped increase the debt, but Bush was just getting a handle on the debt through tax-cuts which increased revenue and reductions in spending....then the Dems won Congress and the deficit shot up in 08'.


The Bush Deficits vs Obama Deficits

Remember all of the calls for increased spending in the following areas:

The Stimulus Bill $1.1 trillion
The TARP bill $700 billion
2007 Spending bill $463.5 billion



The current national debt: U.S. Government National Debt: What they Won't Tell You

The debt is increasing because of compounding interest, unemployment payments, and ever increasing Social Security payments.

Gee, what a surprise, this phony chart again. Your phony chart shows a "deficit" of a little over $400 billion for 2008, yet the debt rose ONE TRILLION DOLLARS in 2008. So much for the accuracy of your PHONY chart!!!

Government - Historical Debt Outstanding - Annual 2000 - 2010
Historical Debt Outstanding - Annual 2000 - 2010

09/30/2008 - $10,024,724,896,912.49
09/30/2007 - $9,007,653,372,262.48

 

[edthecynic]

Bush couldn't spend on his own. The debt skyrocketed once the Dems took both houses of Congress. They used the media to scare him into massive spending on just about everything.


The Bush Deficits vs Obama Deficits

Remember all of the calls for increased spending in the following areas:

The Stimulus Bill $1.1 trillion
The TARP bill $700 billion
2007 Spending bill $463.5 billion



The current national debt: U.S. Government National Debt: What they Won't Tell You

How about you try reading the article I posted, because you obviously haven't. Educate your self. That graph is intentionally misleading. YOu'd understand why if you read my article.

The graph tells the story. It's crystal clear.

And the story the graph tells is the makers of the graph, the dishonest Heritage Foundation, are a pack of liars.
Thank you for pointing that out.

 

[edthecynic]

It's never the fault of the democrats, is it? Obama has a repub House to deal with, so everything the dems couldn't do is the fault of the GOP. Reagan had a democrat House, but everything is his fault not theirs. 115 democrats voted for the Iraq war, but it's still Bush's fault. Gingrich and the repub Congress wouldn't let Clinton spend money like he wanted to, but Clinton gets the credit for balancing the budget, or nearly so.

All the credit to the dems, all the blame to the repubs. It's a big reason they've got no creditability.

So typical of the ass-backwards CON$! Isn't it funny that once you replaced Clinton with Bush, that same GOP Congress spent enough to double the debt of all the past presidents combined!!! Obviously it was Clinton who wouldn't let the GOP Congress spend money like they wanted to!!!

 

[Claudette]

Congress controls the pursestrings. Not the Prez.

The Clowns we elect spend the money and thats something they are very, very good at.

They appear to believe that the money grows on a tree and they can harvest it anytime they like. The tree is now denuded. NO more money. They are going to have to make serious spending cuts.

I ain't gonna hold my breath.

 

[skookerasbil]

Ummmm........is this not a POLITICS forum??

Who gives a rats ass what some lefty nutters are posting up in the nether -regions of the internet. By a huge margin, the public believes Obama is the Debt Master, which is the only thing that matters. Meatheads like Shaman think they are going to change the perception by falling all over themselves posting up graphs in this forum.

Fcukking social invalid lefties on this forum have the political IQ of a small soap dish!!!

 

[skookerasbil]

How about you try reading the article I posted, because you obviously haven't. Educate your self. That graph is intentionally misleading. YOu'd understand why if you read my article.

The graph tells the story. It's crystal clear.

And the story the graph tells is the makers of the graph, the dishonest Heritage Foundation, are a pack of liars.
Thank you for pointing that out.

^^^ another political genius!!!! s0n.........this is a POLITICS forum. Americans dont know dick about the Heritage Foundation nor do they know dick about Democracy Now.

I'll tell ya what they do know.........that the president has redefined deficit spending. THATS the perception.........THAT is politics............nothing else matters.

 

[edthecynic]

Congress controls the pursestrings. Not the Prez.

The Clowns we elect spend the money and thats something they are very, very good at.

They appear to believe that the money grows on a tree and they can harvest it anytime they like. The tree is now denuded. NO more money. They are going to have to make serious spending cuts.

I ain't gonna hold my breath.

The Prez signs the bills and has VETO POWER over Congress. Only if Congress passed a budget over a presidential veto would they be responsible for the "pursestrings."

 

[edthecynic]

The graph tells the story. It's crystal clear.

And the story the graph tells is the makers of the graph, the dishonest Heritage Foundation, are a pack of liars.
Thank you for pointing that out.

^^^ another political genius!!!! s0n.........this is a POLITICS forum. Americans dont know dick about the Heritage Foundation nor do they know dick about Democracy Now.

I'll tell ya what they do know.........that the president has redefined deficit spending. THATS the perception.........THAT is politics............nothing else matters.

In other words, CON$ervative ignorance is CON$ervative bliss.
Thank you.

 

[Full-Auto]

God, why are some of you so ignorant! Bush debt exploded over several years. Obama's contritution was all at once. That's why it looks like Obama spent more, but he didn't!

Read the articles for Godsakes.

Bush couldn't spend on his own. The debt skyrocketed once the Dems took both houses of Congress. They used the media to scare him into massive spending on just about everything. The war and several natural disasters helped increase the debt, but Bush was just getting a handle on the debt through tax-cuts which increased revenue and reductions in spending....then the Dems won Congress and the deficit shot up in 08'.


The Bush Deficits vs Obama Deficits

Remember all of the calls for increased spending in the following areas:

The Stimulus Bill $1.1 trillion
The TARP bill $700 billion
2007 Spending bill $463.5 billion



The current national debt: U.S. Government National Debt: What they Won't Tell You

The debt is increasing because of compounding interest, unemployment payments, and ever increasing Social Security payments.

Gee, what a surprise, this phony chart again. Your phony chart shows a "deficit" of a little over $400 billion for 2008, yet the debt rose ONE TRILLION DOLLARS in 2008. So much for the accuracy of your PHONY chart!!!

Government - Historical Debt Outstanding - Annual 2000 - 2010
Historical Debt Outstanding - Annual 2000 - 2010

09/30/2008 - $10,024,724,896,912.49
09/30/2007 - $9,007,653,372,262.48

Your confusion is not surprising.

That last budget GW didnt sign, they held it over for Obama to sign because it did not contain enough spending.


True story. Tissue?

 

[yidnar]

the community re investment act !!!...........BARNEY FRANK IS A FAGGOT !!

 

[edthecynic]

Bush couldn't spend on his own. The debt skyrocketed once the Dems took both houses of Congress. They used the media to scare him into massive spending on just about everything. The war and several natural disasters helped increase the debt, but Bush was just getting a handle on the debt through tax-cuts which increased revenue and reductions in spending....then the Dems won Congress and the deficit shot up in 08'.


The Bush Deficits vs Obama Deficits

Remember all of the calls for increased spending in the following areas:

The Stimulus Bill $1.1 trillion
The TARP bill $700 billion
2007 Spending bill $463.5 billion



The current national debt: U.S. Government National Debt: What they Won't Tell You

The debt is increasing because of compounding interest, unemployment payments, and ever increasing Social Security payments.

Gee, what a surprise, this phony chart again. Your phony chart shows a "deficit" of a little over $400 billion for 2008, yet the debt rose ONE TRILLION DOLLARS in 2008. So much for the accuracy of your PHONY chart!!!

Government - Historical Debt Outstanding - Annual 2000 - 2010
Historical Debt Outstanding - Annual 2000 - 2010

09/30/2008 - $10,024,724,896,912.49
09/30/2007 - $9,007,653,372,262.48

Your confusion is not surprising.

That last budget GW didnt sign, they held it over for Obama to sign because it did not contain enough spending.


True story. Tissue?

Your confusion is not surprising.

He signed the 2008 budget that raised the debt ONE TRILLION DOLLARS.

True story. Tissue?

 

[Full-Auto]

Gee, what a surprise, this phony chart again. Your phony chart shows a "deficit" of a little over $400 billion for 2008, yet the debt rose ONE TRILLION DOLLARS in 2008. So much for the accuracy of your PHONY chart!!!

Government - Historical Debt Outstanding - Annual 2000 - 2010
Historical Debt Outstanding - Annual 2000 - 2010

09/30/2008 - $10,024,724,896,912.49
09/30/2007 - $9,007,653,372,262.48

Your confusion is not surprising.

That last budget GW didnt sign, they held it over for Obama to sign because it did not contain enough spending.


True story. Tissue?

Your confusion is not surprising.

He signed the 2008 budget that raised the debt ONE TRILLION DOLLARS.

True story. Tissue?

Thats from democrats that stated they are following Paygo and after the announcement Pelosi said on national TV the end of deficit spending has arrived.

Why were you guys lying?

 

[Full-Auto]

Gee, what a surprise, this phony chart again. Your phony chart shows a "deficit" of a little over $400 billion for 2008, yet the debt rose ONE TRILLION DOLLARS in 2008. So much for the accuracy of your PHONY chart!!!

Government - Historical Debt Outstanding - Annual 2000 - 2010
Historical Debt Outstanding - Annual 2000 - 2010

09/30/2008 - $10,024,724,896,912.49
09/30/2007 - $9,007,653,372,262.48

Your confusion is not surprising.

That last budget GW didnt sign, they held it over for Obama to sign because it did not contain enough spending.


True story. Tissue?

Your confusion is not surprising.

He signed the 2008 budget that raised the debt ONE TRILLION DOLLARS.

True story. Tissue?

And bring your best game. I want to stomp on you a while.

 

[NYcarbineer]

While it is true that Obama largely contributed, it really was Bush that exploded the debt in the first place.


The Truth About Who's Responsible For Our Massive Budget Deficit - Business Insider



Here are some good highlight from the article:

The increase in government spending, meanwhile, is actually NOT the only factor that has caused the deficit. The other factor--equally if not more important--is the fall-off in government revenue (tax receipts).

Ya, see? Paying taxes is good.

Here is the meat of the article when it comes to who is to blame.

So, who's responsible for the massive deficit?

This is a tougher question.

We know WHAT is responsible: The combination of weak government revenues (tax receipts) and a vast increase in government spending.

But figuring out WHO to blame is a more subjective exercise.

If you believe that the growth during the "Bush Boom" was a debt-fueled mirage--a theory that is certainly supported by the evidence--then you can lay the blame squarely at the feet of President Bush. His combination of reduced taxes and increased spending took the US from a surplus to a deficit, and even the economic boom from a massive housing bubble and enormous borrowing couldn't close the gap.

Even if you think the "Bush Boom" was real, moreover, the recession and financial crisis began on his watch, and the deficit was already exploding when President Obama took office. So it's very hard to escape the conclusion that President Bush bears a lot of the responsibility for our current mess.

On the other hand, President Obama's stimulus certainly hasn't had as big an impact on the economy (and, therefore, government revenues) as he and his advisors promised it would. Given the extent of the mess Obama inherited, it's possible that nothing would have fixed it by now. But even huge Obama supporters are justifiably frustrated with his over-promising, as well as with many of the decisions he has made.

So it seems fair to lay some of the responsibility for our current deficit at President Obama's feet as well.

Cutting taxes without cutting spending to account for the lower revenues is what caused the debt crisis, period.

Reagan started it, Clinton stopped it, Bush resumed it, Obama is continuing it.

 

[edthecynic]

Your confusion is not surprising.

That last budget GW didnt sign, they held it over for Obama to sign because it did not contain enough spending.


True story. Tissue?

Your confusion is not surprising.

He signed the 2008 budget that raised the debt ONE TRILLION DOLLARS.

True story. Tissue?

Thats from democrats that stated they are following Paygo and after the announcement Pelosi said on national TV the end of deficit spending has arrived.

Why were you guys lying?

IOW, you admit Bush SIGNED the 2008 budget that raised the debt ONE TRILLION DOLLARS.

 

[mudwhistle]

How about you try reading the article I posted, because you obviously haven't. Educate your self. That graph is intentionally misleading. YOu'd understand why if you read my article.

The graph tells the story. It's crystal clear.

And the story the graph tells is the makers of the graph, the dishonest Heritage Foundation, are a pack of liars.
Thank you for pointing that out.

Attacking the messenger cuz you can't attack the msg.