This was interesting. The Bush Administration has run up the USA national debt through its deficit spending. Each years deficit add to the national debt as US treasury Notes and Bonds are issue to obtain the funds needed to finance congressional budgetary appropriation in excess of Taxes, and special war authorizations that are not totally deficit authorizations/debt. The national debt has increased from 1.5 trillion in the year 2000 to 8.5 trillion in the year 2008, largely because of the war with Iraq.
Below is a link about how the yearly deficit increases the national debt: #----------------------------------------- Excerpt: _Primary deficit, total deficit, and debt_ The government's deficit can be measured with or without including the interest it pays on its debt. The primary deficit is defined as the difference between current government spending and total current revenue from all types of taxes. The total deficit (which is often just called the 'deficit') is spending, plus interest payments on the debt, minus tax revenues. Therefore: Primary Deficit = Government Spending For the Year - Tax Revenue for the year Total deficit = Government Spending For The Year + Last Year Debt * Interest Rate - Tax Revenue for the Year Finally: this year's debt can be calculated from last year's debt and this year's total deficit: Current Debt = Last Year Debt + Current Year Total Deficit http://en.wikipedia.org/wiki/Deficit #------------------------------------------- I think it is true that the Bush Administration behavior has resulted in a hidden tax to the American people, because deficit spending floods the economy with additional dollar, (eg through the issuance of debt) , without increase good and service available. Therefore, an increased amount of dollars chasing the same amount of goods and services causes the prices of everything to go up. Essentially the USA government in it borrowing to finance the war with Iraq has re-allocated a considerable amount of the GNP out of everyday garden variate peoples hands into the government hands via inflation; the hidden tax. The increase price for oil is particularly troubling; because, the increase prices find it way into every good or service consumed by the American people, whether the drive a car or no. The increased price for oil gets passed down to the final consumer who pays the tax. The fiscal irresponsibility of the Bush Administration has also cause a devaluation of the dollar against all other currencies around the world, which to a great extent explains why the price of a barrel of oil has increased. I think this is a more correct analysis rather that price fixing by the world bank and International Monetary Fund. If the World Band/International Monetary Fund, acting as the middle man in the transport of oil from the producer to the Oil Company Refineries, was the cause of the big jump in oil prices, why hasn't anything been done about it, or why hasn't capital appear that would compete for a share of the middle man pie. Also, If there were huge deposit of oil off the North Shore of Alaska, why wouldn't the government demand that such reserves be produced. The government could then place a tax on oil production to generate needed revenue; rather than running up the national debt to finance deficit war spending. Most EU country tax oil sold at the pump very heavily and a material source of government revenue. The USA really need to remain committed to the idea of becoming energy independent via a new era of clean renewable energy, and get off a USA petrol based/dependent economy. Regards, LelandJ Bill Broyles wrote: > Whoops, forgot the URL.???? Proves I'm a programmer.. > > > > From: Bill Broyles [mailto:[EMAIL PROTECTED] > Sent: Friday, June 20, 2008 9:08 AM > To: '[email protected]' > Subject: [OT]High price of gas > > > > I was sent this link and thought maybe some of you experts could verify, or > not this notion about Kissenger making a deal years ago with the Arabs to > buy all their oil, IF they would finance our growing debt??? > > > > This is a long dissertation from a Babtist clergy who worked on the Alaska > pipeline. If you can't believe a Babtist preacher, who can you believe??<g> > > > > <http://video.google.com/videoplay?docid=3340274697167011147> > http://video.google.com/videoplay?docid=3340274697167011147 > > > > --- StripMime Report -- processed MIME parts --- > multipart/alternative > text/plain (text body -- kept) > text/html > --- > [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
