Who's responsible for the debt?

[expat_panama]

...low unemployment increased revenues starting in 2004, then high unemployment in 09 and 2010 lowered revenues...

Hey, you're not one of those trickle-downers are you?

 

[Dr.House]

Isn't it more important to concentrate on where we're going rather than look to how we got there?

I mean, we all know the man reason why we're in this pickle - the gubmint spent more than it took in...

Don't do that...

It's like when someone says "Hey doctor, it hurts when I do this."

Don't do that...

 

[Wiseacre]

...Bush is responsible for 75%...

--and Obama is irresponsible for 75%.

It's amazing how the extreme left can believe that Obama is smart, that Bush is stupid, and that Bush still runs things and prevents Obama from fixing things.

yes i was just as amazed when all of clintons successes were credited to reagan....

Jesus H. Christ!!! Can we agree that both sides are responsible and stop pointing fingers and assigning blame for the poor governance in the past? This bullshit is getting really old, who gives a flying fuck about past mistakes.

 

[expat_panama]

...This bullshit is getting really old, who gives a flying fuck about past mistakes.

Ah, you're blaming everything on us because you hate people that blame others.

Makes sense.

 

[Wiseacre]

...This bullshit is getting really old, who gives a flying fuck about past mistakes.

Ah, you're blaming everything on us because you hate people that blame others.

Makes sense.

Nah, I wasn't blaming you or Bones or Bread, I shoulda made it a separate post instead of tacking onto yours. Seems like we constantly have these pointless battles over who raised the debt the most. In fact it should be pinned on every administration and Congress over the past 40 years. And it doesn't really matter, cuz today is a new day and the things that worked or didn't work before may not be as effective or ineffective this time around. Different circumstances, different attitudes and climate, different issues here and around the world.

 

[iamwhatiseem]

It is only important as to who "did it"...as to prevent it from happening again.
But now that we have a debt deal that cuts a measly $120Billion a year...all of our problems are over...YAY!

 

[signelect]

All of us voters are responsible, we have been electing very smart crooks to congress and really dumb presidents. Our congress have made them selves wealthy in congress. Did you ever hear of them being willing to take a cut to help this crisis, NO you did not. Years ago they found the SS money in a fund being held in escrow for those that paid it in and they stole it to spend on their own agenda and now it is not there. In any other business this is stealing pure and simple and Obama couldn't lead anybody to do anything and Bush is just about as bad.

 

[expat_panama]

...pointless battles over who raised the debt the most. In fact it should be pinned on every administration and Congress over the past 40 years...

Seriously, that line of reasoning is far closer to the truth, and most people here see it:

Who's responsible for the debt? Everybody who has ever voted....

We, the People, are responsible for the debt.

..."Hey doctor, it hurts when I do this." Don't do that...

Something else is that the reason we do it is because it works, it does what we want, and we'll keep doing it until we all agree on just what we want different. So here's what the budget numbers (found at Budget of the United States Government: Historical Tables Fiscal Year 2012 say we're doing (in $millions):

Deficit: $1,147,700

Spending:

National Defense $693,586

Human resources

Education, Training, Employment, and Social Services $127,710
Health $369,054
Medicare $451,636
Income Security $622,210
Social Security $706,737
Veterans Benefits and Services $108,384​

[total human resources] $2,385,731
Everything else $376,883​

[total spending] $3,456,200
​

If we want to balance the budget then we cut welfare because we really don't spend that much on defense or anything else. Eliminating Social Security, medicare, and income support would balance the budget. Shooting all fat-cat CEO's wouldn't.

 

[Toronado3800]

The facts are in the article. Nobody has disputed the facts in the article from the CBO.

I wanted to know how the deficit ballooned, and I found it. The biggest problem is the loss of tax revenue that was caused by the great recession (the longest recession since the great depression).

The repubs spout that we don't have a revenue problem, we have a spending problem. They are incorrect, we do have a revenue problem, its the 700 billion we lost in 2010 in income tax revenue (650 billion lost in 2009 also). Add on top of that the 200 billion in lost income tax revenue due to the Bush tax cuts, and you're at 900 billion deficit that is strictly due to lost income tax revenue.

Now, does anyone want to dispute the facts from the CBO?

It's always best to research facts for yourself, instead of having them handed to you by any source with an agenda. Just sayin'.

I do not think the CBO has that much of an agenda even if Congress is being taken over by tea party members.

 

[ShackledNation]

Why are we still playing the blame game? My God it should be obvious to everyone that Bush and Obama are both compete economic disasters. How about we try to fix the problem instead of try to play politics and blame someone for it?

Ultimately its the fault of we the people for electing this idiots and letting them destroy the economy because of our political apathy.

 

[expat_panama]

...it should be obvious to everyone that Bush and Obama are both compete economic disasters...

Well it's not.

America's extreme left is finally owning up to the fact that the economy is deteriorating so they've dropped their 'recovery summer' routine and replaced it with "Obama's good because Bush was just as bad". Reality is what it is and if we're serious we can measure what we want and know if we have it. If we say a good economy has a growing gdp with unemployment under 6%, then the economy has been bad for three years and good for eight years before that.

 

[Truthmatters]

The facts are in the article. Nobody has disputed the facts in the article from the CBO.

I wanted to know how the deficit ballooned, and I found it. The biggest problem is the loss of tax revenue that was caused by the great recession (the longest recession since the great depression).

The repubs spout that we don't have a revenue problem, we have a spending problem. They are incorrect, we do have a revenue problem, its the 700 billion we lost in 2010 in income tax revenue (650 billion lost in 2009 also). Add on top of that the 200 billion in lost income tax revenue due to the Bush tax cuts, and you're at 900 billion deficit that is strictly due to lost income tax revenue.

Now, does anyone want to dispute the facts from the CBO?

It's always best to research facts for yourself, instead of having them handed to you by any source with an agenda. Just sayin'.

ITS the CBO for christ sake.

 

[Truthmatters]

All of us voters are responsible, we have been electing very smart crooks to congress and really dumb presidents. Our congress have made them selves wealthy in congress. Did you ever hear of them being willing to take a cut to help this crisis, NO you did not. Years ago they found the SS money in a fund being held in escrow for those that paid it in and they stole it to spend on their own agenda and now it is not there. In any other business this is stealing pure and simple and Obama couldn't lead anybody to do anything and Bush is just about as bad.

Bush was not elected by the people

 

[JWBooth]

Bush was not elected by the people

Hey dipshit, just for curiosity sake, you gonna have anything relevant to add or just more of the same old same old?

 

[ShackledNation]

...it should be obvious to everyone that Bush and Obama are both compete economic disasters...

Well it's not.

America's extreme left is finally owning up to the fact that the economy is deteriorating so they've dropped their 'recovery summer' routine and replaced it with "Obama's good because Bush was just as bad". Reality is what it is and if we're serious we can measure what we want and know if we have it. If we say a good economy has a growing gdp with unemployment under 6%, then the economy has been bad for three years and good for eight years before that.

Are you suggesting Bush was succeeded in growing the economy in a healthy sustainable way?

 

[Uncensored2008]

We, the People, are responsible for the debt.

True, we the people elected that fucking moron, Obama....