Author Topic: US debt breakdown .. whos to blame?.. last 6 president listed.  (Read 6330 times)

oldtimer1

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #25 on: March 22, 2015, 01:02:14 PM »
1. The banks started to collapse because under the Democratic run congress under Bush they had Barney Frank pushing affordable housing act that gave mortgages to those who wouldn't have qualified. With little down they got a mortgage then when the house appreciated they qualified for home equity loans. Then house after house started to default.

2. The economy started going bad with the Democratic run congress under Bush due to uncontrolled spending. Obama had both sides of the congress with the House and the Senate his first two years and he did nothing with it. Then he spend the rest of his Presidency blaming the Republican house and Bush.

3. His auto maker bail out makes for good propaganda. The part they left out is that the same deal was offered to Ford who refused. They did take a minor green car hand out but they refused the main bail out. They recovered just as well if not better than GM and Chrysler. Yep, Obama saved the car industry.  ::)

I can go on forever with this. I would be up to number 100 but the progressive liberals sheep who believe in Obama with the complicit majority press backing them will never see the light. Worse President in my life time.

Thong Maniac

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #26 on: March 22, 2015, 01:10:28 PM »
1. The banks started to collapse because under the Democratic run congress under Bush they had Barney Frank pushing affordable housing act that gave mortgages to those who wouldn't have qualified. With little down they got a mortgage then when the house appreciated they qualified for home equity loans. Then house after house started to default.

2. The economy started going bad with the Democratic run congress under Bush due to uncontrolled spending. Obama had both sides of the congress with the House and the Senate his first two years and he did nothing with it. Then he spend the rest of his Presidency blaming the Republican house and Bush.

3. His auto maker bail out makes for good propaganda. The part they left out is that the same deal was offered to Ford who refused. They did take a minor green car hand out but they refused the main bail out. They recovered just as well if not better than GM and Chrysler. Yep, Obama saved the car industry.  ::)

I can go on forever with this. I would be up to number 100 but the progressive liberals sheep who believe in Obama with the complicit majority press backing them will never see the light. Worse President in my life time.

So smart and all knowing. Has all the answers. Great minds on this board. Who needs political scientists and neutral think tanks

2Thick

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #27 on: March 22, 2015, 01:14:54 PM »
They've both borrowed and spent trillions of dollars. What other "economic record" do presidents and federal governments have to compare?

Obama's debt is piling up faster even after he "ended" the Bush wars, and even in a zero-interest rate environment.

Clinton, Bush, and Obama did not cause nor create dot com booms, real estate booms, nor oil booms. Apple, Microsoft, Netflix, Amazon, Google etc were not built by governments or presidents.

They did not and have not created private sector jobs, nor have they increased or even decreased stock markets, created inflation / deflation to any significant degree, or affected fuel prices themselves.


Guy is clueless, doesn't believe this, and is only saying it because Valerie wrote it down:

A


2Thick

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #29 on: March 22, 2015, 01:21:34 PM »
for those who don't want to read the article





That's got to be old. Debt is now over 18 trillion.
A

2Thick

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #30 on: March 22, 2015, 01:26:28 PM »
please list these new entitlements being given to the poor and immigrants, and then compare to the amount being spent on defense and corporate welfare.

How about doubling the number of people on food stamps for one?

I'd much rather a federal government that does little more than provide a strong national defense, as opposed to one that takes over private industries, increases taxes and regs, redistributes wealth, is obsessed with "social justice", "fairness", "social engineering", etc.

Go to 1:35 to see his true colors:




I'm not particularly happy with Republicans these days either. But I'll always vote against the guy who wants to take more of my money, weaken us militarily, and grow the fed govt endlessly on the domestic front.
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2Thick

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #31 on: March 22, 2015, 01:28:19 PM »
1. The banks started to collapse because under the Democratic run congress under Bush they had Barney Frank pushing affordable housing act that gave mortgages to those who wouldn't have qualified. With little down they got a mortgage then when the house appreciated they qualified for home equity loans. Then house after house started to default.

2. The economy started going bad with the Democratic run congress under Bush due to uncontrolled spending. Obama had both sides of the congress with the House and the Senate his first two years and he did nothing with it. Then he spend the rest of his Presidency blaming the Republican house and Bush.

3. His auto maker bail out makes for good propaganda. The part they left out is that the same deal was offered to Ford who refused. They did take a minor green car hand out but they refused the main bail out. They recovered just as well if not better than GM and Chrysler. Yep, Obama saved the car industry.  ::)

I can go on forever with this. I would be up to number 100 but the progressive liberals sheep who believe in Obama with the complicit majority press backing them will never see the light. Worse President in my life time.


If only that was true. That was when he forced the ACA down our throats, remember?
A

Thin Lizzy

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #32 on: March 22, 2015, 03:13:22 PM »
It's not even debatable as to what's driving debt: Insolvent Social Programs. It doesn't even matter who's President, as long as these programs aren't reformed.


timfogarty

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #33 on: March 22, 2015, 03:52:57 PM »
How about doubling the number of people on food stamps for one?

$80 billion per year at it's peak for SNAP. Now that the economy is doing well, that's dropping. That is what food stamps are for, so that people don't go malnourished during tough times. Compare that to $400 billion for the F-35 Joint Strike Fighter which is 7 years behind schedule and has no real strategic purpose with the threats we face today.


timfogarty

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #34 on: March 22, 2015, 04:05:31 PM »
It's not even debatable as to what's driving debt: Insolvent Social Programs. It doesn't even matter who's President, as long as these programs aren't reformed.

I know.  Let's go back to the tax rates as they were under Ronald Reagan.  That would solve all of our budget problems.  Or just remove the Social Security tax cap.  That would make SS solvent for 75+ years.

If you don't know how the social security tax cap works, this year only the first $118,500 is taxed.  That means someone making $100 million pays no more into the system than someone making $120 thousand.

Here is an inconvenient fact for you: Every year we need fewer and fewer workers.  In the not too distant future there won't be any jobs for the vast majority of workers.  Now that means either incredible poverty for most, or a guaranteed income for all.   The problem with masses in poverty is they tend to start revolutions.  So the .1% will start having to paying for the food and housing of the masses.

timfogarty

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #35 on: March 22, 2015, 04:15:36 PM »
It's not even debatable as to what's driving debt: Insolvent Social Programs. It doesn't even matter who's President, as long as these programs aren't reformed.



Look at the right column of your chart.  That's where the money is being collected from.  10% from corporations.  Is that fair?  Let's look at this over time



Get corporations to pay their fair share.

Thin Lizzy

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #36 on: March 22, 2015, 04:25:09 PM »
Look at the right column of your chart.  That's where the money is being collected from.  10% from corporations.  Is that fair?  Let's look at this over time



Get corporations to pay their fair share.

Yeah, more taxes, that's the answer.

timfogarty

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #37 on: March 22, 2015, 05:09:34 PM »
Yeah, more taxes, that's the answer.

It worked after WWII into the 70s.  Largest growth of middle class ever.

Thin Lizzy

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #38 on: March 22, 2015, 05:40:29 PM »
It worked after WWII into the 70s.  Largest growth of middle class ever.

WWII was an aberration. The rest of the industrial world had been bombed out and China and India weren't online. That type of competitive advantage doesn't exist, today.


timfogarty

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #39 on: March 22, 2015, 05:46:07 PM »
WWII was an aberration. The rest of the industrial world had been bombed out and China and India weren't online. That type of competitive advantage doesn't exist, today.

Corporations are making record profits.  Executives of corporations are making record salaries.  Stock prices are way up, making the owners of corporations even more wealthy.  Only one not enjoying this prosperity are the workers.  And then all the people not working. Thirty five years of trickle down economics and the middle class has been devastated.

Thin Lizzy

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #40 on: March 22, 2015, 05:57:37 PM »
Corporations are making record profits.  Executives of corporations are making record salaries.  Stock prices are way up, making the owners of corporations even more wealthy.  Only one not enjoying this prosperity are the workers.  And then all the people not working. Thirty five years of trickle down economics and the middle class has been devastated.

I'm giving you cold hard facts. You're responding with empty emotional rhetoric. These programs are 100s of billions in the hole and it's only gonna get worse. They will eventually need reform. Sticking your hand deeper and deeper into other people's pockets won't work.

Moreover, by world standards, the average American lives like a king and averages eating 3700 cals a day. Every average Joe has access to goods and services that weren't even available to the elites just a few years ago, but to make your points you have take this for granted, don't you.

James28

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #41 on: March 22, 2015, 06:02:13 PM »
There is NO debt. Quit worrying about something that's entirely manufactured.

We print money, to borrow to ourselves, so we owe ourselves and are in debt to ourselves.

Yes, it makes perfect sense  ::)
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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #42 on: March 22, 2015, 07:18:47 PM »
Corporations argue that they indirectly pay income tax through their employer base and through their shareholders personal declarations and also pay payroll tax as well.

I dont support their argument, but i dislike any non profit based tax like payroll tax, but its an efficient tax for government, company tax is to easily off shored by multi nationals. I would support a higher tax on corporations, and the retirement of payroll tax if they could tighten up the loopholes that allow them to trade out of places like Ireland.


Thin Lizzy

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #43 on: March 22, 2015, 07:43:36 PM »
Corporations argue that they indirectly pay income tax through their employer base and through their shareholders personal declarations and also pay payroll tax as well.

I dont support their argument, but i dislike any non profit based tax like payroll tax, but its an efficient tax for government, company tax is to easily off shored by multi nationals. I would support a higher tax on corporations, and the retirement of payroll tax if they could tighten up the loopholes that allow them to trade out of places like Ireland.



Yeah, we need to take more money out of the productive part of the economy and give it to politicians and bureaucrats because the over 3 TRILLION DOLLARS a year the Federal Government takes in isn't enough.

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Re: US debt breakdown .. whos to blame?.. last 6 president listed.
« Reply #44 on: March 23, 2015, 06:30:28 AM »
Since its Congress that controls the money and authorizes new debt wouldn't this chart make better sense if it corresponded to the party that controlled that branch. 
Looking at the following chart says to me that the Reds & Blues are in this together...at the expense of the common American man.