Republicans are Responsible for our Soaring National Debt

[LilOlLady]

Republicans are Responsible for our Soaring National Debt
Kevin Drum
Aug. 28, 2012
There's no special reason to display this graphic yet again — except maybe for the fact that (a) Jeb Bush is once more begging us to stop blaming stuff on his brother, (b) the Republican Party is about to embark on yet another nonstop yakathon about how the budget deficit is going to doom us all, and (c) the doom-monger in chief, Paul Ryan, will be speaking in prime time tomorrow.

Plus Ezra Klein reminded me of this today. Click the link if you want more detail, but I think the chart pretty much speaks for itself. Nearly every single thing driving the current increase in public debt — tax cuts, wars, the recession, and measures to fight the recession — was a result of Bush-era policies that were enthusiastically supported by nearly every single Republican currently hanging out in Tampa. They only got religion after a Democrat won the White House and had to clean up the mess they left behind.

Their success at convincing half the country that Barack Obama is responsible for our soaring debt is surely one of the greatest political propaganda victories of all time.
Republicans are Responsible for our Soaring National Debt | Mother Jones

 

[LilOlLady]

Mitt Romney would add up to $5 trillion to the deficit
President Obama cut taxes for every American worker and provided 18 tax cuts for small businesses to help them weather the recession, and has a balanced plan for reducing the deficit by $4 trillion. Mitt Romney wants to extend the Bush tax cuts for the wealthy, and would add his own tax breaks for millionaires on top of it, adding as much as $5 trillion to the deficit, while slashing investments in the middle class.
Taxes & the Budget — Barack Obama

 

[OODA_Loop]

Romney leads in electoral college.

 

[LilOlLady]

Right-Wing Media Ignore Bush Effect On Debt
To Suggest Obama Criticism Is Hypocrisy
Right-wing media have seized on a 2008 video of then-candidate Barack Obama, in which he criticized President Bush for adding $4 trillion to the debt, to accuse Obama of hypocrisy because $4 trillion in debt has also accumulated since Obama took office. However, this ignores the fact that the Congressional Budget Office (CBO) projected $1.2 trillion in deficit before Obama took office -- based entirely on Bush's actions and economic conditions -- and that wars, policies, and the economic downturn that all began under Bush continue to inflate the debt.
Right-Wing Media Ignore Bush Effect On Debt To Suggest Obama Criticism Is Hypocrisy | Research | Media Matters for America

 

[tyroneweaver]

if the national debt is so important to you libs why didn't you do something about it instead of passing a health care law no one wanted.

 

[Oddball]

MediaMutts...Boiking's own site...MuthaJones....

Nothing to see here...

 

[emptystep]

Fetch!

 

[CaféAuLait]

Republicans are Responsible for our Soaring National Debt
Kevin Drum
Aug. 28, 2012
There's no special reason to display this graphic yet again — except maybe for the fact that (a) Jeb Bush is once more begging us to stop blaming stuff on his brother, (b) the Republican Party is about to embark on yet another nonstop yakathon about how the budget deficit is going to doom us all, and (c) the doom-monger in chief, Paul Ryan, will be speaking in prime time tomorrow.

Plus Ezra Klein reminded me of this today. Click the link if you want more detail, but I think the chart pretty much speaks for itself. Nearly every single thing driving the current increase in public debt — tax cuts, wars, the recession, and measures to fight the recession — was a result of Bush-era policies that were enthusiastically supported by nearly every single Republican currently hanging out in Tampa. They only got religion after a Democrat won the White House and had to clean up the mess they left behind.

Their success at convincing half the country that Barack Obama is responsible for our soaring debt is surely one of the greatest political propaganda victories of all time.
Republicans are Responsible for our Soaring National Debt | Mother Jones

An article from Mother Jones and a graph from the Center on Budget and Policy Priorities a site whose description in its ‘about section’ which is described as 'socially liberal". Okay then.

This crap is not just Bush's fault, it is both sides fault. Always want to forget Frank swearing there was no bubble and the dems having congress since 2007, of course there was no policy which upped the debt or decision making. Please.

 

[kaz]

Republicans are Responsible for our Soaring National Debt

True. They are also responsible for world hunger, comets that collide with the earth, obesity and teenage acne. Don't even start me talking about impacted ear wax...

 

[PaulS1950]

In less than twenty years the USA will be bankrupt and will be unable to even pay the interest on that debt.
We can point fingers all day long and nothing will change.
Nobody wants to vote for the only party who actually has a plan to get rid of the debt.
Remember a balanced budget does nothing to get rid of the debt because we only pay the interest on it.
We need to reduce the budget by at least 50% so we can start paying on the principal.
Then if we pay 1 Trillion dollars on the debt plus the 800 Billion in interest then in about 16 or 17 years it might get paid off - if interest rates don't rise and if inflation doesn't go up and if the tax base continues to climb.
It is up to your representatives and you - I kinda look forward to being occupied by the Chinese in my old age.

 

[LordBrownTrout]

He added 5 trillion in 3 years and you're telling us he's going on a cutting spree? Ocare alone will add trillions not to mention all of his other social utopian plans.

 

[Listening]

Between LOL and COH (CourseOfHistory), they seem to dominate this forum with their bulls**t threads.

Can we get something worth discussing posted here that won't get washed away by their constant crap.

There are some boards that limit the number of threads you can start in a week. Do we have something lie that here ?

 

[jwoodie]

Republicans are Responsible for our Soaring National Debt

Thanks for expressing your sincere concern about the national debt.

 

[naturegirl]

The Dems controlled Congress for 4 years. Two under Bush and two under Obama, we have health care and more debt. Why didn't they do something about it when they could?? Why is this an issue only when a Republican challenger is on the ballot??

 

[Meister]

The Dems controlled Congress for 4 years. Two under Bush and two under Obama, we have health care and more debt. Why didn't they do something about it when they could?? Why is this an issue only when a Republican challenger is on the ballot??

Yup, it's okay and necessary only when Obma runs ups the deficit and debt.

 

[g5000]

Republicans are indeed responsible for our soaring national debt. But they couldn't have done it alone. They had a willing and able partner in the Democratic Party.

Democrats: Tax and Spend

Republicans: Borrow and Spend


If I earned a thousand bucks a month, and spent two thousand bucks a month, I would have a $12,000 debt after one year.

If I then slowed my spending to $1,500 bucks a month, I would have $18,000 of debt at the end of the second year.

If I then slowed my spending to $1,000 bucks a month, I would still have that $18,000 of debt.


All of our non-discretionary spending equals almost exactly what our government takes in in revenues each year. That means if we matched our spending to our income, there would not be any money available for defense, food stamps, roads, bridges, the FDA, HUD, the Department of Homeland Security, the State Department, disaster relief, and the bazillion other services the government provides.

In other words, we cannot get our spending down to $1000 a month. No matter how much slashing we do to our spending.

Think about that.

So our debt is going to continue to climb, no matter who is President, unless we also increase our government's income.


.

 

[Meister]

Republicans are indeed responsible for our soaring national debt. But they couldn't have done it alone. They had a willing and able partner in the Democratic Party.

Democrats: Tax and Spend

Republicans: Borrow and Spend


If I earned a thousand bucks a month, and spent two thousand bucks a month, I would have a $12,000 debt after one year.

If I then slowed my spending to $1,500 bucks a month, I would have $18,000 of debt at the end of the second year.

If I then slowed my spending to $1,000 bucks a month, I would still have that $18,000 of debt.


All of our non-discretionary spending equals almost exactly what our government takes in in revenues each year. That means if we matched our spending to our income, there would not be any money available for defense, food stamps, roads, bridges, the FDA, HUD, the Department of Homeland Security, the State Department, disaster relief, and the bazillion other services the government provides.

In other words, we cannot get our spending down to $1000 a month. No matter how much slashing we do to our spending.

Think about that.

So our debt is going to continue to climb, no matter who is President, unless we also increase our government's income.


.

Get people working and the spending and taxing will begin. That's how you can increase the governments income. But, the more government gets the more they will spend. Not like paying off any kind of debt would be a priority.