Why we are in debt?

Discussion in 'Economy' started by LilOlLady, Aug 1, 2011.

  1. LilOlLady
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    LilOlLady Gold Member

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    WHY WE ARE IN DEBT

    Because tax cuts for the rich, tax loop holes and off shore accounts do not generate enough money to cover our necessary spending. We have a revenue problem and not a spending problem and the 50% spending cuts in the budget bill on entitlements is proof. We have never let our elderly, children, poor and disabled, military, unemployed and public servants go without but what this façade of a bill will do. We are not spending more than usual on entitlements. We just don’t have the usual revenue coming in to cover them.

    After 11 years of Dead Beat Bush’s tax cuts for the rich, where are the jobs they were supposed to create?:tongue:
     
  2. KissMy
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    KissMy Free Breast Exam

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    Democrats have been in power since 2006. Haven't they done wonders with the economy over the past 5-1/2 years? Debt on the day Democrats took control $8,670,596,000,000. Debt today $14,561,230,000,000. So 5-1/2 years of Democrat Debt = $5,890,634,000,000. There now are 7 million fewer employed Americans since the democrats took over.

    CNN Poll: For first time, majority is pessimistic about America’s economic future
    Manufacturing growth hits lowest level in 2 years
     

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