A lot of the Obama Deficit was due to a couple of Bush era events:
1) The tax policies enacted during the Bush years to lower taxes,
especially on the wealthiest 2% of Americans, who really didn't need the
gift: The tax cuts to the wealthiest 2% of Americans did little, if
anything, to stimulate the economy; because, the increased demand for
good and services in this group was much smaller proportionally, dollar
for dollar, than the demand created in the remaining 98% of working,
middle class and poor Americans.
2) The housing bubble created during the Bush years, which concealed
the true state of the USA economy: When the housing bubble burst,
trillions of dollars in wealth were vaporized into thin air. This
required President Obama, and his administration, to take immediate,
drastic measures, in the form of stimulus, to prevent a collapse of our
country, and to contain the contagion effect on the rest of the world.
Regards,
LelandJ
On 11/01/2012 09:32 AM, Michael Oke wrote:
Step away from the kool-aid Leland.
Michael Oke, II
661-349-6221
Contents of this and all messages are intended for their designated recipient.
On Nov 1, 2012, at 7:28 AM, lelandj <[email protected]> wrote:
On 11/01/2012 03:54 AM, Pete Theisen wrote:
Hi Everybody,
Video of Obama promising to cut the Bush deficit in half in his first term. We
know what he did instead.
http://www.youtube.com/watch?&v=gsa4uLmTw0M
More content in it as well.
8 years of Bush resulted in the greatest USA economic calamity since the Great
Depression of the 1930s. 4 year of Obama has turned that around, putting the
USA on a path to steady recovery with prospects of a booming economy right
around the corner.
Regards,
LelandJ
[excessive quoting removed by server]
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