Hmmmm.... 5 trillion to 9 trillion in 8 years (Bush) vs 9 trillion to 14 trillion in 2 1/2 years (Obama)... Hmmmmmmmmmmmm....
Originally Posted by Squirrel88
http://www.usgovernmentspending.com/...cit_chart.html
The "lost point" is ...
If I net $500,000 a year and owe $10,000 on credit cards I am better off than if I net $50,000 a year and owe $10,000 on credit cards.
The GNP/deficit ratio was "better" during the two administrations of Bush than it has been the first two years of this administration. Period.
IMO the other issue is the policy on "job creation" ...
A government paid job lasts only as long as the position is budgeted, and it is taking tax dollars and re-depositing part of those tax dollars into the government bank account. A private position lasts as long as the business is productive and is taking public sector dollars and deposiitng part of those dollars into the government bank account.
Private businesses are reluctant to expand and create new positions or even fill existing vacant positions if there is uncertainty about what the "costs" will be to fill those positions, because the private businesses are theoretically designed around making a profit for the owner(s) and the onwer(s) have to budget themselves to assure that they can pay the employees AND the addiitional expenses of benefits and payroll contributions to the government ... which now includes mandatory health care requirements (which are "up in the air"), unless the business is on the "special exemption" list of the Secretary of "human" services" under the current administration.
Endless debates about "tax cuts" or "tax increases" stagnate that decision by the private sector, which should have been learned during the Reagan years, but apparently was not or was forgotten. Not to mention endless debates about mandatory health care forced on small businesses.
At a time when we need to be doing whatever we can to increase jobs through creating a stable environment for small businesses, we have a bunch of liberals cramming down their "agenda" on everyone but their friends, against the majority of the voters in this country. Thnk about it: the motivators are from Chicago, California, Massachusetts, and New York.
FYI: If you were unconscious, unborn, or still in diapers, there were endless discussions for it seemed like years about "closing loopholes" and eliminating deductions, one of which included the deduction of interest and taxes on 2nd home mortgages (which did not happen) and another on ending limited partnership real estate investment "companies" for low income multifamily apartment projects (sliding scale rent), which were eliminated and resulted in a glut of multifamily complexes going on the market in a 60-90 window at a time when real estate was already suffering from the mortgage deduction debate. Real estate values hit the floor and the S&L's holding the bags of declining collateral cratered.
Economics is physics: For every action there is a reaction.