Check out the US National Debt Clock
11.8 Trillion Dollars.
$11,800,000,000,000.00...$36,700 for every man, woman, and child in the US.
Almost seems surreal.
"We cannot continue to mortgage our children's future blah blah blah"
I have been looking at these numbers for some time now, and I always get a kick out of the comments beneath the articles always being anti-Obama. He's a socialist! He's a tax-and-spend-o-crat! He's fiscally irresponsible!
Before we get to Obama's socialist policies, let's get a few facts straight.
1. $1/2 Trillion deficit - Bush admin created it, Obama inherited it.
2. $700 billion TARP money - Bush signed it, not Obama.
3. $787 billion stimulus package - OK, this one's all Obama
4. Obama is trying to CUT taxes for 95% of Americans.
5. Obama plans to let the Bush tax cuts expire and restore high class tax rates.
Ok, from the top.
Fact: Bush takes office we have a budget surplus. Bush leaves office, we have a $1/2 trillion deficit. Let me repeat since die-hard republicans see no evil. Bush takes office with a surplus, leaves office and a HUGE deficit. Now Obama's stuck fixing the problem while he has his own agenda.
Tarp Funds: The unregulated free market at it's best...banks get greedy and take big risks for big profits, now they're all broke. Whether you were for it or agin' it, bush signed the 700 billion dollar behemoth into law courtesy of us taxpayers.
Stimulus spending: True Obama signed this into law, and again it's a monster of a spending plan at our expense. If I may say one thing about it though, the big difference is how he's handling it. Obama constantly stresses transparency, even posting the money's whereabouts here. People get mad about his constant oversight of spending, his socialist policies. Because I remember how thrilled we all were when 350 billion TARP dollars seemed to vanish into thin air when injected into banks "no strings attached." WAKE UP PEOPLE.
As far as the tax cuts and increases mentioned in points 4 and 5, middle class tax cuts were part of the stimulus package, which can readily be found at the recovery.gov website. And while he plans on restoring high class tax rates to pre-Bush levels, the taxes are who they intend to be for: high class wage-earners. People complain OMG how can we get out of a recession while bludgeoning people with tax increases. Well guess what, if you are not high class, you won't be taxed. How hard is that to understand?
It's truly amazing to me how the human mind works. We one day decide we believe something, and we'll be damned if we'll let things as unimportant as facts ever prove us wrong. Oh well, I guess that's why we elect people to do our thinking for us.
(By the way, that 58 trillion dollar number you see at the bottom of the debt clock? It's real. We owe 58 trillion dollars)
Friday, May 8, 2009
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