WHY MORE GOVERNMENT SPENDING
People are complaining about government spending. Obama is spending what appears to be more because of the mess Bush put into motion. He has had to provide healthcare for the millions that lost their jobs because jobs were sent overseas. Tax cuts for the rich, unemployment insurance for millions, food stamps and welfare assistance, money for the ongoing two wars, bail outs and stimulus.
The National Debt grew from around $5.5 trillion to $10.5 trillion while Bush was president.
Deficit = how much money our government spends in excess of what it takes in each year.
Debt = the total amount of money our government is in the hole.
When you have debts and deficits you have to spend money on top of it if there is not revenue coming in. If you dont have any money anything you spend is added to the debt or deficit.
Obamas spending is due to the debt and deficit Bush left and it grows because of the amount of revenue not coming in. Tax cuts for the rich cut the revenue coming in. Obama is not spending more but it seems more because there is not revenue coming in to cover it. There are 14 million unemployed American and unemployed do not pay taxes and taxes is revenue. Plus 14 million unemployed Americans are depending on the government for assistance and no money to cover assistance. Obama is not spending more it just look like more because there is no money to cover his spending. Fact is Obama is spending less then past presidents did with more revenue to spend. When Bush left office there was a $10 trillion debt. Bush tax cut costing $200 billion a year.
Obama is spending more but still less than Bush.
People are complaining about government spending. Obama is spending what appears to be more because of the mess Bush put into motion. He has had to provide healthcare for the millions that lost their jobs because jobs were sent overseas. Tax cuts for the rich, unemployment insurance for millions, food stamps and welfare assistance, money for the ongoing two wars, bail outs and stimulus.
The National Debt grew from around $5.5 trillion to $10.5 trillion while Bush was president.
Deficit = how much money our government spends in excess of what it takes in each year.
Debt = the total amount of money our government is in the hole.
When you have debts and deficits you have to spend money on top of it if there is not revenue coming in. If you dont have any money anything you spend is added to the debt or deficit.
Obamas spending is due to the debt and deficit Bush left and it grows because of the amount of revenue not coming in. Tax cuts for the rich cut the revenue coming in. Obama is not spending more but it seems more because there is not revenue coming in to cover it. There are 14 million unemployed American and unemployed do not pay taxes and taxes is revenue. Plus 14 million unemployed Americans are depending on the government for assistance and no money to cover assistance. Obama is not spending more it just look like more because there is no money to cover his spending. Fact is Obama is spending less then past presidents did with more revenue to spend. When Bush left office there was a $10 trillion debt. Bush tax cut costing $200 billion a year.
Obama is spending more but still less than Bush.