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Democrats in control of Congress, including then-Sen. Obama, blasted President George W. Bush for failing to contain spending when he oversaw increased deficits and raised the debt ceiling.
“Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren,” Obama said in a 2006 floor speech that preceded a Senate vote to extend the debt limit. “America has a debt problem and a failure of leadership.”
the world community is aware that we are compulsive spenders.
they are not stupid. how strange our older uncle who we have always taken
for a fool now must have the talk with us.
Democrats in control of Congress, including then-Sen. Obama, blasted President George W. Bush for failing to contain spending when he oversaw increased deficits and raised the debt ceiling.
“Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren,” Obama said in a 2006 floor speech that preceded a Senate vote to extend the debt limit. “America has a debt problem and a failure of leadership.”
In my opinion, this is a delibrate trashing of the US dollar so that the elites who run the world from behind the scenes can bring in a new currency for North America, the "Amero". When a crisis is bad enough, it's been proven over and over again that people will give up their liberty in the name of security.
Bush was deficit spending in a growing economy. Deficit spending during a recession makes good sense and then you pay down the deficit when the economy is growing again.
This is largely Bush's mess, not Obama. Obama has not done anything to make it worse yet.
There is no debt ceiling, it is only smoke and mirrors. I too am betting on another worldwide crash and temporary dollar strenghtening before hyperinflation takes out the dollar for good. There is a lot of leverage still out there and the commercial real estate crash should put some deflationary pressures on things like real estate. If not for the worthless elite we would never have been put in this position.
Bush was deficit spending in a growing economy. Deficit spending during a recession makes good sense and then you pay down the deficit when the economy is growing again.
This is largely Bush's mess, not Obama. Obama has not done anything to make it worse yet.
Obama left bush in the dust long ago. I think people will have to see for themselves when inflation takes over and the recession makes good times in the future look bad as consumers change habits from past deficit spending on their own.That will lead to less federal revenues and a long;long federal deficit and eventually a demand for government cost cuts in programs.
Bush was deficit spending in a growing economy. Deficit spending during a recession makes good sense and then you pay down the deficit when the economy is growing again.
This is largely Bush's mess, not Obama. Obama has not done anything to make it worse yet.
What Obama & the Dems in Congress want to do with health care will definitely make the deficit worse. They want to spend an extra $1 Trillion on health care over 10 years. And if we use the past as a guide, the actual spending will end up being much more than that. We already spend more on health care than any other country. We ought to have universal coverage for all without having to spend an extra dime.
I am by no means defending Bush here. But I think it's fair to say we're going from bad to worse. And that is likely to continue unless Americans get over this Democrat/Republican split and start admitting that the spending is out of control on both sides of the aisle.
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