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Thread: Who increased the debt....

  1. #31
    Member jwh1949's Avatar
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    I don't post on the political venue of RTF but I need to say something about the state of our beloved country. I don't know the age of most of you but I'm a "boomer" who had the oppurtunity to grow up in what would have to be considered the best time we Americans have ever seen. Some how "we", be us Dems,Reps or whatever let it slip away on our watch. This isnt something that happened overnight and it saddens me that we will be the first generation to not pass on a brighter future to our kids. I dont see it as any one Presidents or parties fault although most would have you believe so. Perhaps instead of pointing the finger we need to work together in whatever way possible to move this great country forward.The blame is "ours" and no one else, shame on us. Jack
    "To err is human,to forgive canine."

  2. #32
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    Quote Originally Posted by YardleyLabs View Post
    I'd say that what the numbers show pretty clearly is that during the 30 or so years before the GWB Presidency, the Federal government maintained spending at a fairly constant percentage of GDP. During the Reagan administration, that didn't change a lot. However, general taxes were cut while social security taxes and Medicare taxes were increased dramatically. The tax increases for social security and medicare were immediately diverted to cover the deficits that resulted from the cut in general taxes rather than to cut spending. Things came back into balance following Reagan as spending was held at a fairly constant level of GDP, but tax increases were adopted that brought the budget back into balance, producing a cash flow surplus for social security and medicare, as was needed to finance future spending needs. Under GWB, that surplus was used to justify massive cuts in general taxes (social security and medicare taxes continued to rise) that were far in excess of any anticipated cash flow surplus. Rather than implement spending cuts to eliminate that deficit, Federal spending was increased by a greater percentage than had been seen under any President since WWII, laying the foundation for what we have today. Obama has done nothing to make that situation better, meaning that the deficit continues to grow. The biggest issue that I have with Republican proposals is that they still would do nothing to reduce the deficit. Rather, they would add to it by extending tax cuts that are now scheduled to expire. That will make the problem even worse.
    Nice history lesson, BUT YOU STILL DID NOT ANSWER THE QUESTION!!!!!!!!!!

  3. #33
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    One of my favorite songs of all time

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  4. #34
    Senior Member Gerry Clinchy's Avatar
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    I may be too simplistic ... at this point, I am somewhat less interested in who caused this problem (unless we intend to prosecute them or re-elect them!) than in who can fix it and how.

    Reagan is dead; Bush won't be elected to anything again. Slick Willy is probably happy being a king-maker. Hillary might be an issue.

    So, if we know what we did wrong, let's find the people who have ideas on how to fix it; and hold them to their word.
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  5. #35
    Senior Member Franco's Avatar
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    Quote Originally Posted by Gerry Clinchy View Post
    I may be too simplistic ... at this point, I am somewhat less interested in who caused this problem (unless we intend to prosecute them or re-elect them!) than in who can fix it and how.

    Reagan is dead; Bush won't be elected to anything again. Slick Willy is probably happy being a king-maker. Hillary might be an issue.

    So, if we know what we did wrong, let's find the people who have ideas on how to fix it; and hold them to their word.
    A good start would be to disband the Federal Reserve which enables out of control spending, Wall St theft and return to the Gold Standard! The artificial manipulation of the economy, interest rates and value of our currency is the real culprit!
    “The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” –Thomas Jefferson

  6. #36
    Junior Member krmont22's Avatar
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    This states the bills written at that time, increased my BILLS...!
    i don't get this some people sitting their ass tight decides how our salary will be exhausted....???
    The hybrid car guy, sailing in his yacht found a better world right here i this world...!

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