National debt up more in 3 years under BHO than 8 under Bush

[abrogate]

Interesting post.

Few things, it was not just the wars that caused the debt explosion, it was the tax cuts, unpaid entitlements and a deficits don't matter philosophy.

Yup. I wasn't giving an analysis or making a claim that war debt were the only factor. To me, they are the most offensive factor from an ethical perspective. I was commenting on plans to continue with that unfunded incremental spend is poor finance at best and politics as usual at worst.

So if you take a look above, you will find that other than the stimulus which was TEMPORARY, there has been no policy changes under Obama that are driving the debt we are seeing now. Infact if you read the CBO recent report, the single biggest cause for the debt is still the Bush tax cuts which were extended for two years after Republicans threatened to block everything unless it's extended for the Top 1%.

Here is spending and revenue picture, spending is coming down however revenues have been stagnating and will continue to do so with so many tax cuts.

I didn't see the posting. Looks like it is an image with a broken link or something. Seems like it would be a good read.

 

[accountantNOT]

Interesting post.


Yup. I wasn't giving an analysis or making a claim that war debt were the only factor. To me, they are the most offensive factor from an ethical perspective. I was commenting on plans to continue with that unfunded incremental spend is poor finance at best and politics as usual at worst.

But the problem is that the policies were passed in law and repealing them midway isn't possible. Look at Bush tax cuts for example, they were set to expire at the end of 10 years and that was not allowed. Then there is Medicare Part D, it's being phased out in the Affordable Care Act and Republcians are attacking it as 'cutting medicare' while they propose their own plans to completely dismantle the program.

I didn't see the posting. Looks like it is an image with a broken link or something. Seems like it would be a good read.

I uploaded the image on lulzimg but site seems to be down at the time, imgur seems to block freeones.

Here is it again, it's from the CBO.

 

[abrogate]

But the problem is that the policies were passed in law and repealing them midway isn't possible. Look at Bush tax cuts for example, they were set to expire at the end of 10 years and that was not allowed. Then there is Medicare Part D, it's being phased out in the Affordable Care Act and Republcians are attacking it as 'cutting medicare' while they propose their own plans to completely dismantle the program.

I agree. I've never said or thought anything to the contrary. Unless you think the two wars Bush entered into and the spend for them are a good thing. (I'll admit based on the rage of 9/11 I was for entering Afghanistan. However, with the exit of these wars and the spend, my only comment and thought on this is that we should plan on cutting the spend, not thinking of it as savings.

I uploaded the image on lulzimg but site seems to be down at the time, imgur seems to block freeones.

Here is it again, it's from the CBO.

Thanks for taking the time to repost. Good graphic. I don't think I've seen those, but I've seen that information before I think it is lost on many.

Where I get into trouble is that I try not to side with either party. At the end of the day, if you're going to vote, you need to back a candidate, but I haven't seen the politician where I can't point out improvements yet.

 

[Facetious]

Re: National debt up more in 3 years under BHO than 8 under Bush

It's easy to see what 0bama is doing, he's racking up so much debt for this country, the only alternative for survival is to tax the middle and upper classes out of existence. Isn't that great? Finally we can all be equal... living in squalor.
What do 0bama's supporters have to worry about, they're already living near the bottom of the economic food chain anyway.

 

[accountantNOT]

Quick fact-checks

It's easy to see what 0bama is doing, he's racking up so much debt for this country, the only alternative for survival is to tax the middle and upper classes out of existence. Isn't that great? Finally we can all be equal... living in squalor.

Actually the proposal is to cut taxes further for the middle class while returning to Clinton era top marginal rates.

What do 0bama's supporters have to worry about, they're already living near the bottom of the economic food chain anyway.

You mean the liberals or the superich?

""According to a 2004 study by the Pew Research Center, liberals were the most educated ideological demographic and were tied with the conservative sub-group, the "Enterprisers", for the most affluent group. Of those who identified as liberal, 49% were college graduates and 41% had household incomes exceeding $75,000, compared to 27% and 28% as the national average, respectively"

Of those worth more than $30 million, two-thirds support Sen. Obama, while one third support Sen. McCain.
http://blogs.wsj.com/wealth/2008/10/13/the-rich-support-mccain-the-super-rich-support-obama/

Between, are you aware that the poorest states who end up mooching more federal dollars than they contributed habitually vote Republican.

 

[Facetious]

Between, are you aware that the poorest states who end up mooching more federal dollars than they contributed habitually vote Republican.

A lot of poor people are diehard Second Amendment proponents.

 

[vodkazvictim]

Frankly, I'm dubious.
But if you wanna know where your taxes go...