Why is the National Debt so high? Hint: It isn't because of Obama

Discussion in 'Economy' started by Vast LWC, Oct 27, 2009.

  1. Vast LWC
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    Vast LWC <-Mohammed

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    The deficit for this year was at $1.2 Trillion on January 7th. (Source: Congressional Budget Office)

    Which means that ALL of the National debt, except for 500 Billion dollars, occurred under Republican adminstrations, or as a result of interest on the debt from Republican administrations.

    Of that 500 Billion, 100 Billion is from the Carter administration, and 400 billion is from the stimulus package passed this year.

    This means that Republican Presidents are responsible for 96% of the National debt...

    and Obama is responsible for 3% of the national debt, mainly due to a one-time stimulus package that had to be put in place due to the failed Bush economy.

    So, it seems to me that if you're worried about the National Debt, you should be voting Democrat, for President anyway.

    Congress is another matter entirely.
     
  2. AllieBaba
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    Proof?
     
  3. xsited1
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    Uh, no. And this is a common misconception. Congress controls spending. Sure, the President proposes a budget, but it's Congress that modifies and controls it from there.
     
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  4. AllieBaba
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    Thank you for pointing that out (again) to the retards who can't seem to grasp the simple concept, or apparently have no idea how our political system works.
     
  5. Vast LWC
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    Vast LWC <-Mohammed

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    Government - Historical Debt Outstanding - Annual 1950 - 1999

    Government - Historical Debt Outstanding - Annual 2000 - 2008

    Note that the debt under Clinton goes up by 1.2 Trillion Dollars, which happens to be just about the exact amount of 8 years of interest on the pre-existing debt.

    As for this year:

    Director&#8217;s Blog » Blog Archive » The Budget and Economic Outlook

    Specifically:


     
  6. Vast LWC
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    Vast LWC <-Mohammed

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    And actually, the numbers for Obama are even smaller.

    The deficit for this year's new total is 1.42 Trillion Dollars, which makes Obama responsible for 220 Billion dollars, not 400 Billion.

    Source:

    2009 federal deficit surges to $1.42 trillion

    Specifically:

     
  7. Vast LWC
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    Vast LWC <-Mohammed

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    Indeed, Congress does in fact do the actual process of budgeting. That's a good point. Of course the president signs off on it, doesn't he?

    And I did in fact mention in my OP that I was speaking of presidents only, not of congresses, didn't I?

    Of course, my point here is to contradict the mouthpieces of the right, specifically, Rush Limbaugh and Glenn Beck, who have claimed several times on their programs that the debt is Obama's fault.

    Perhaps you should save your accusation of "retardation" for them, as this is just an extension of their argument.

    Beck went so far as to say that the ballooning of the National Debt was actually a plot by the Obama administration to seize power for the executive branch, presumably in the pursuit of some kind of Facist state.
     
  8. Vast LWC
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    Vast LWC <-Mohammed

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    And here is Glenn Beck, the apparent "Retard", and his guest, a FoxBusiness News anchor, makingn the claim that the Debt is a secret plot for Obama to expand the power of the Executive branch:

    [ame=http://www.youtube.com/watch?v=pHavlB33c98&feature=player_embedded]YouTube - Beck open book test 2[/ame]
     
  9. Vast LWC
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    Vast LWC <-Mohammed

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    Here's Rush Limbaugh, another "Retard", blaming the debt on Obama:

    [ame=http://www.youtube.com/watch?v=fbBt29UfBMo]YouTube - Rush Limbaugh - Obama is raising the deficit unlike any President has ever done before[/ame]
     
  10. Charles Stucker
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    Charles Stucker Senior Member

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    The ballooning of the debt is due to several things. One is that despite the claim that "deficit spending should be done in recessions and debt paid down during good economies" Clinton did NOT pay down the debt despite the longest strongest boom economy the world has ever seen. But he failed to pay down the debt one bit. The current problem is Obama spending EVEN MORE when the debt is so high. Unless you have a time machine, nothing can be done about the past, only the present can be changed. If Obama wants to control the Debt he has to keep his spending in check. Otherwise the US will face economic collapse.

    Blame games are for retards who don't understand the need to act now.
     

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