I am in full agreement with Eric. Almost everyday, the Republican's have been bombarding us with the 15 trillion debt number - that high number, is presumably Obama's fault.
So let me put their crap into perspective: (Source - US Treasury Dept): http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm When Bush Jr took over in 2001, the US debt was at 5.8 trillion. When Bush Jr left the White House in 2008, that debt was at 10.0 trillion. That is a whopping 72% boost in borrowed spending! By this measure, Obama still has some more room! So What did the Republican's spend this money on? They gave away hefty tax cuts to the uber rich and financing the two wars - out of which, at least one war was NOT necessary. When Obama took over in 2009, the housing bust had already vaporized retirement investments and with it - the American dream - causing financial panic in almost every American household. This level of economic disruption, is no easy task to recover from, in 3+ years. I do believe we need to cut our spending, but it needs to be balanced with increase in revenue. For starters, let the Bush tax breaks expire at the end of this year. Jim F New York. --- On Fri, 8/31/12, eric pinto <[email protected]> wrote: > From: eric pinto <[email protected]> > Subject: [Goanet] Gold did shine, once ! > To: "GOA2" <[email protected]> > Date: Friday, August 31, 2012, 4:31 PM > From what little I understand > of the subject, it belongs to an age when > schooners at quayside exchanged merchandise for a bagfull of > coins: no gold, no deal. ... ... > Deficit financing, when controlled, is a useful > government tool when applied to > productive activity and job creation. Not so the > Reagan-Bush fraud that goes by the label > of 'trickle down' where mindless tax cuts were combined with > massive spending on > armaments: the rogues have now taken shelter under a new > flag, bullion.
