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Right. Spending due to the worst global economic crisis.
Aside from ACA, where is this spending coming from?
The reason for the increase, doesn't mean the increase didn't exist. You cant on one breath justify an increase, and then in the next claim it didn't happen.
I did not know this.
Is this why SS is bankrupt?
I was always told they take our SS out of our paychecks, invest it for our future when we later take it back out with the accrued interest it earned so it was a balanced thing. I never understood why all the SS monies disappeared. And now people think taking SS is a form of welfare.
Was it only Clinton who stole our SS money, or did other presidents do this also?
Taking SS was ALWAYS a form of welfare, one society has considered acceptable.
but all Presidents have done it, since the creation, Clinton just more than others.
First, that "$8 trillion wasted," was money that if it wasn't spent would have driven the nation into a depression. But what was that $8 trillion? It was what government has been spending money on all along -- mainly, Social Security, Medicare, Medicaid, Defense and interest on the debt.
Second, I don't see how you blame Obama for "increasing the deficit by $1T." By January 7, 2009 -- before Obama was President, the forecast was a $1.2 trillion deficit. See below:
I'm waiting for the person who doesn't understand that wealth can be obtained without income, to tell me how allowing individuals to keep their money, without giving it to the government to spend, would result in driving the nation into a depression..
Please explain how keeping money in the hands of the people to spend, crashes economies.
From the hard right wing Koch Brothers controlled website Treasury Direct (it's a dot gov) we find records for our Historical Debt Outstanding – Annual
Now, if we hat a "SURPLUS" on any Clinton year as you claim the outstanding dollar amount would have dropped.
Where did it drop? What year do you see a drop in the debt which would have happened even if we had one penny of surplus?
This oft repeated lie about the Clinton SURPLUS makes me sick. It's a lie spread by liars!
Thanks for this. I agree completely- if there were a surplus, then the debt would not increase. That is, if the "surplus" were an actual surplus and not a "surplus" according to the spin masters.
Also, I'm just so sick of hearing how we need to pat presidents on the back when they reduce a deficit. Any year with even a $1 deficit is a year in which the government spent more money than it earned in taxes. Obama's goal to reduce the deficit over a 10 year period is amazing for how brazen the claim is- translated, he is saying that in the next 10 years, there will never be a point where the government spends the same or less than it receives in revenue.
This is just UNSUSTAINABLE policy. I'm not blaming Obama- I'm blaming every president whose expenditures exceeded their revenues (yes, including Clinton and both Bush boys). It's getting to the point where we need huge taxes just to pay the interest on our debt, let alone current programs. Just disgusting.
Whether you think the answer lies in raising taxes or decreasing spending, both sides of the aisle should agree that America has a debt problem.
More great news about a benefit to this country from President Obama's presidency.
Remember, Republican Bush was given a SURPLUS by Democrat Clinton and turned it into a RECORD DEFICIT. Had our great President Obama not been obstructed by Republicans in Congress, we likely would be enjoying another surplus.
How ignorant must people be? Just look at Obama's past budget proposals, he wanted even MORE deficit spending, he wanted to increase the deficit and size of the federal budget.
Look back at all of 0bama's federal budget proposals. If 0bama had his way we'd be looking at $20 trillion in fiscal operating debt now, instead of $18T.
0bama's federal budget plan that he proposed back in 2009 projected the federal budget in 2015 to $4.2 trillion. Our 2015 budget this year is $3.69 trillion, Obama wanted to add another $5 trillion to our 2015 budget, which would have pushed our 2015 deficit to $1 trillion.
The only reason we have a lower debt or deficit today is not because this was what 0bama wanted, our budget, debt and deficit is lower because he failed to get his way.
Fiscal 2009 the year we had all of that emergency spending, TARP, the stimulus, etc... And then Obama spent like every year afterwards was a fiscal crisis that required emergency spending levels.
Spin master Republicans. Always making the president look bad. Look how they are still making excuses for the village idiot. We didn't have a 9/11 under Obama......
We did have an attack on 9/11, it was in Benghazi, Libya.
From the hard right wing Koch Brothers controlled website Treasury Direct (it's a dot gov) we find records for our Historical Debt Outstanding – Annual
I'm waiting for the person who doesn't understand that wealth can be obtained without income, to tell me how allowing individuals to keep their money, without giving it to the government to spend, would result in driving the nation into a depression..
Please explain how keeping money in the hands of the people to spend, crashes economies.
Thanks
It's called macro-economics. You see, my spending is your income and your spending is my income. That holds for the government too -- and that's why government spending is part of GDP.
GDP=Consumption + Government Expenditures + Investment + Exports - Imports
If the government just stops spending money, everyone who depended upon that money has no income and then can't spend on their own.
Again, there is no way for one to gain wealth without it first being income or later (in the case of unrealized gains) becoming income later.
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Had our great President Obama not been obstructed by Republicans in Congress, we likely would be enjoying another surplus.
