We're going broke folks! Who's in charge?
Do you excuse the younger son of doing something wrong because the older son once did somethings wrong? Or do you hold them as accountable as you did the first?
(Bush-older, Obama younger)
The debt has increased about $2 trillion since February 2009
The Obama administration has already spent over $2 trillion in JUST OVER ONE YEAR. It took the Bush administration FOUR years to do that.
This is not just a catch up game--this is obscene and ridiculous for anyone's accounting of their budget and debt
Are We Better Off Now Than We Were a Years Ago in any way? I would like to know.
All views appreciated
- 1 decade agoFavorite Answer
Technically speaking, the United States is NOT "going broke" as you say. If you take a chill pill (as my daughter used to say) and factor in the pending return of our manufacturing base (lost under all three failed Republican presidencies), which brings needed tax revenues back onto American soil and revamps our assaulted, abused, and diminished (under GOP rule) middle-class, who then as employed workers pay into our diminished (under GOP rule) Social Security fund---a pay it forward system---while also spending their middle-class salaries on goods in services which, in turn, helps stores providing those goods and services to turn a profit (trickle UP) that enables expansion (pumping dollars into the shriveled economy), the purchase of more supplies (pumping still more dollars into the slowly expanding economy), and the hiring of even more workers to handle the new orders for supplies (pumping even more dollars into our tax coffers, the Social Security coffers, and the economy through goods and services purchased), and so on and so on in a DEMAND-SIDE approach to economics (an upward and outward expanding spiral of interrelated prosperity) which undoes the SEVERE damages done every single time the "voodoo" of Reaganomics or failed "Supply-Side" economics (i.e., from the top wealthy few trickling on down to the masses...yeah, riigghht...). President Bill Clinton saved this nation after the Reagan/Bush-Bush/Quayle disasterous presidencies (Bartlett & Steele, 1990), to include the very same collapse of overvalued real estate (which included investments from HMOs who could not then cover consumer claims and so began denying legitimate claims), that led to the collapse of our savings and loan industry, the loss of our manufacturing base, record numbers of homeless families and veterans---same as the 2007-2008 collapse of our housing and credit markets following by the MELTDOWN of our financial system due to bad bad bad economic policies couple with the GOP's penchant for "deregulating" everything in sight (Krugman, 2008; PBS's "Frontline"). President Obama is doing all the right things to reverse the downward spiral of destruction, and this INCLUDES pumping dollars via the Recovery and Reinvestment Act (stimulus) into our shrunken and shriveled system to achieve the upward-expanding spiral described above. You also need to remember that in his very first month in office, President Obama reversed the Bush/Cheney policy of KEEPING WAR COSTS OFF THE BOOKS---he added these costs onto our budget so the American people had a TRUE picture of our economy instead of a fake one...some some of the "spending" is actually just an honest approach to budget issues that was denied us under the lawless Bush/Cheney reign of terror upon this nation. President Obama has also saved taxpayers an already appropriated $61 BILLION by canceling the Bush-ordered presidential helicopter fleet and returning those taxpayer dollars to our Treasury. According to many financial reports, including Bloomberg News and the Wall Street Journal, we are slowly gaining momentum in the recovery and are now headed strongly in the right direction. Bank bailout funds (from the $700 billion that was appropriated on an emergency basis by the Bush/Cheney regime and Bernanke/Paulson in 2008) are being repaid with interest, and then being applied to a pay-down of our deficit ($79 billion so far as of last year from 14 of the 400 banks who took welfare). President Obama and my state's Senator Claire McCaskill (former state Treasurer) can be credited for these early pay-backs because they put restrictions on the annual salaries (to $500,000 only, poor spoiled-brat babies) of bank executives who'd bankrupted their institutions and asked for welfare and blocked any bonuses other than investor/board-approved shares of preferred stock unless and until all taxpayer dollars are repaid. You just gotta LOVE this...right? Incentives in place for early paybacks! What's NOT to love about this smart move?
Are you familiar with fiscal year budgets? If not, the last budget submitted by the Bush/Cheney administration was for October 1, 2008, through September 30, 2009, and this budget (which was passed and the dollars were appropriated) included the aforementioned now canceled helicopter fleet, but also included were the 128 Cheney-ordered F-22 planes that cost taxpayers a minimum of $134.6 MILLION per plane (128 x $134,600,000)---well, the order for these planes was also canceled by Defense Secretary Robert Gates and President Obama, meaning that the appropriated dollars for these planes were also returned to our Treasury (i.e., not adding to our deficit or our debt). If you are patient and keep an open mind, you will soon see that this cost-saving pattern is being implemented for every department's budget at President Obama's request, focusing on double-billing, overbilling, waste, fraud, missed deadlines for delivery, etc. He has asked all of his Departmen
- bobLv 71 decade ago
You blame the guy who brought us half of the total Us deficit. George Bush, not the guy who is trying to clean up after him. BTW. genius spending 2 trillion does not increase the deficit by 2 trillion. Are we better off in any way? and oh, yes. It did not take Bush 4 years to spend 2 trillion. The budget for 2001 was 1.86 trillion,so unless we got by with 140 billion for the next three years he was well past 2 trillion in his first four years. Hint: When you lie don't lie about something that is readily available on the internet! What is better?
Stock market almost double what it was a year ago.
Job losses the last month of the Bush administration 750,000. Job losses last month 35,000
Housing prices are up
Manufacturing showed its first gain in 2 years last month
A year ago unemployment was trending upward (and it had been for a year). It is now trending downward.
Retail sales have been growing slowly but steadily indicating that we are building this economy on cash, not on loans
There is a lot more, but do your own homework. You will have to look past right wing propaganda to get real answers however.
todays headlines: New claims for jobless fall (Wall street Journal)
California housing prices gain 10% after almost two years of decline (Los
Now the thing that would really help is if Republicans could put aside their bitterness just long enough to take a look at the real world.
- sowhatLv 51 decade ago
- PaulineLv 45 years ago
I prosecute cases in California. We deal with many illegals. We treat them the same was as any other criminal. If the INS places a hold on the defendant, then obviously they can not be given work release and so must do straight time, then the INS takes them and many times deports them. If not, then they have to follow the rules of their probation. Reporting, etc. If they get deported and then reenter the country illegally, and get arrested, then unlike their American counter-parts, they get no chance at reinstatement of probation, they go to prison and then are deported. They are worse off here not better off. Now, for those who think we are being vindictive against the illegal criminal, the fact is that we just cannot keep them on probation or we just go through the system time and time again, on the same case. If a witness to a crime is illegal, it is not a problem. We are not the INS, we don't report our case to the INS. As County prosecutors we deal with crimes and criminals and not with the issues of whether the defendant of victim is in the country with proper papers. We are here to try to make the streets safe.
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- A Tiny RippleLv 41 decade ago
Short term we are better off now than we were a year ago. The long term problem is nowhere near over though and over the next couple of years we'll see if obama truly is all he's cracked up to be. To put it using an awful metaphor, Obama essentially used a band-aid to fix a cracked dam; its holding back the water for now but it never really fixed the problem
- Not a fanLv 61 decade ago
Oh but he inherited it. I guess I will tell that to the creditors when my bankrupt family passes away, and I am left with all their horrible debt.
- Anonymous1 decade ago
It's going to get worse.Source(s): Self evident from what has been occurring.