It's hard to get a handle on the enormous spending that this administration has done, but this article helps put it all into perspective. Read it and weep. http://www.cnsnews.com/news/article/debt-has-increased-5-trillion-speaker-pe
< $5T under W, all 8 years. Clinton it increased, even though they paid down a lot of the public debt, because the Social Security Trust Fund was forced to by govt. debt. ~ $2T under Reagan.
The only reason it didn't increase more under W was he got to give the recession to Obama while the economy had just started crashing.
I was asking Shooter. I figured you knew. What's interesting is that it doubled under the last Bush. Neither party cares about debt when they're in the majority.
Irrespective of which party gets voted in, I'm jumping on that special national sales tax towards paying down the debt. Along with that, though, would necessarily include a balanced and "highly" scrutinized budget.
Doubling means nothing. It doubled under Carter, too. Doubling from $1 to $2 isn't as big a deal as it is doubling from $7T to $14T. There's about a $7T difference there.
The only way that would work is if we get a national initiative first. It's way past time for federal ballot measures. http://en.wikipedia.org/wiki/National_initiative But could you imagine the 50,000 page voters pamphlet that would have shown up in the mail if we had gotten to vote on the Health Care bill?
I think the initiative would have been to allow congress to pass a bill in the first place, not the bill itself. I'd like to see an initiative required to spend at a deficit or raise taxes. "We want to raise taxes (or borrow) for X, Y, and Z." Otherwise they live within the amount they bring in.
Going from $5T to $10T under GW Bush sure as hell was a big deal. Just like going from $10T to $14T under Obama is a big deal.
Endorsing my idea I started talking about several years ago. Hell, I should run for office. Afterall, when ABM starts endorsing a candidate's ideas...
Bush Administration Adds $4 Trillion To National Debt That's over 8 years, or about $500B/year. Obama's spending at a deficit of nearly 3x that with no real end in sight. If things don't change, he'll have added $12T to the debt over a similar time frame. And yeah, $1T is huge, $4T is huge, $12T is huge. The $4T is a hole, the $12T is digging to china.
My great concern is that Obama & Pelosi have placed us on a track to complete insolvency. I thought for sure Obama was for a balanced budget and lowering the debt. But I was dead dog wrong.
http://www.treasurydirect.gov/NP/BPDLogin?application=np That's where I get my numbers and it shows it was $5T under Bush's watch.
Would I vote "yes" on 75? Are you kidding? My friends and fellow Americans... Does that answer your question?
