2 trillion debt ceiling increase
CNN White House Producer Alexander Mooney
(CNN) The Obama administration will formally ask Congress later this week to raise the nation’s debt ceiling by $1.2 trillion, a Treasury Department official tells cheap canada goose CNN. The new request asks the ceiling be raised to $16.39 trillion. debts until the end of next year, according to the Treasury Department official.
cheap canada goose uk All the bailout money has been paid back in full with interest. I don think the stimulus killed the economy. And without it we wouldn have a car industry anymore. But hey what do I know. I thought Bush drove this country into the ground and cheap canada goose I believe Obama done more than any president in recent history with a worthless congress. Obama took office trying to fix all the issues the last guy left for him, if u believed he could snap his fingers and fix everything you must believe in god. If Bush could of ran for President one more time he probably would of declined. He knew how bad he was at being president. cheap canada goose uk
December 27, 2011 at 2:58 pm
People who think the frivolous spending on war isn a major money burner are seriously deranged. It does not take a mathematician canada goose outlet in usa to understand that the billions of dollars spent on war could have gone to fix some of our other problems. And those who think Bush should be pardoned for his contribution to the mess we in now are narrow minded and not seeing the big picture. It not like Bush left a perfectly clean slate for Obama. And it not like Bush didn do plenty of ceiling raising himself when he was in office. It funny how many people defend Bush, the Republicans and the TEA party considering they represent the uber rich, which is only 1% of the country. If you make less than $250k a year and support the Republicans it only b/c you racist.
December 27, 2011 at 3:24 pm
uk canada goose It is amazing how some people just read the party talking points and spew them out. Tell you what. Do some research on the CBO site. All of the raw numbers are there. Tax revenues over the last 10 years, increases in MANDATORY spending and DISCRETIONARY spending. Everything. Here is what you will find, yes the wars, plural, pulled in a cost of 800 billion since 2001/2002. Mandatory spending, that your entitlements people, has doubled in that time from 1 trillion a year to 2 trillion a year. Add those numbers and the increase is over 7 trillion dollars. And the Bush tax cuts, a drop in the bucket. And in fact we still saw a revenue increase, before the economic down turn. Get with the program and actually do some real research. Otherwise you spewing BS. OH, and BTW, I am not blaming Obama for this, except to say that he doing NOTHING to fix it, and neither is congress. In less than 10 years mandatory spending alone will be almost double what we pull in revenue in this country. uk canada goose
December 27, 2011 at 3:37 pm
Bush deregulates banks who lose depositors money in ridiculous investment schemes = $2T in lost revenue due to failing economy.
$5T is a lot a money lost for one administration, especially considering that our entire national debt is only $15T total. Now Republicans are pushing their the beast proposal to pay for it and are condemning Obama for not cutting spending fast enough.
Canada Goose Outlet I got bad news for your Repubs. Cutting spending (which I agree is way too high) to balance the budget WON help the economy because it is a zero sum game. Reducing the deficit and debt is goo in the LONG run, but in the short run any gains will be offset by the further damage the economy will suffer as the government stops printing checks for everything. Canada Goose Outlet
Canada Goose Parka It still amazes me that Repubs think that the deficit and debt are HUGE issues NOW, but never mentioned them at all when Bush was president and had a Republican congress for four of eight years. Where were those huge budget cuts THEN??? Canada Goose Parka
The 16T is not the biggest problem; it the other 65T in unfunded liabilities! The intelligentsia can argue about the costs of wars, tax cuts and bailouts. That way they don have to accept the unsustainable costs of promises we can keep. The 65T includes Medicare, security, state/federal pensions and other post employment benefits, etc. Add to this mess the next bubble of defaults student loans. Should the govt contribute more towards the cost of higher Ed OR should colleges restructure to reduce the cost of delivering the service? I look forward to retiring out of the country with a lot of other job creators. When the rest of u get hit with the share tax bill, perhaps you will also become less tolerant of government waste and personal disincentives.
December 27, 2011 at 3:49 pm
The 16T is not the biggest problem; it the other canada goose outlet in chicago 65T in unfunded liabilities! The intelligentsia can argue about the does canada goose go on sale black friday costs of wars, tax cuts and bailouts. That way they don have to accept the unsustainable costs of promises we can keep. The 65T includes Medicare, security, state/federal pensions and other post employment benefits, etc. Add to this mess the next bubble of defaults student loans. Should the govt contribute more towards the cost of higher Ed OR should colleges restructure to reduce the cost of delivering the service? I look forward to retiring out of the country with a lot of other job creators. When the rest of u get hit with the share tax bill, perhaps canada goose outlet us you will also become less tolerant of government waste and personal disincentives.
December 27, 2011 at 3:52 pm
When George Bush took office, the debt was $6 Trillion. When he left, it was $10 Trillion. He ran the debt up by 4 trillion dollars over 8 years in office. Shame on him for doing that. When Obama took office, it was $10 Trillion. It is now $15 Trillion, soon to be $16 Trillion by the end of next year. In one term, Obama has raised it $6 Trillion. From the left, somehow, Bush is continuing to spend three years after he left office. (the wars do not account for even close to that much money). I don mind holding Bush accountable for his disastrous fiscal policy, but for crying out loud, left wingers need to admit Obama has a heck of a lot of culpability here too.
Canada Goose Jackets December 27, 2011 at 4:05 pm Canada Goose Jackets
uk canada goose outlet Charlie, invasion of Iraq was part of the response to 911? Wow, you are really good at stretching the facts. uk canada goose outlet
canada https://www.bamschaatsteam.nl goose clearance And, despite the wars, Clinton did manage to get the surplus and the economy was flying. canada goose clearance
canada goose factory sale Part of your problem is that you just can analyze. Try a simple math: divide the increase by the canada goose outlet toronto location base. You can see the rate of increase. As a matter of fact, Reagan had the worst record. In his 8 years, he almost tripled the debt. In Bush Jr. years, the debt was almost doubled. Our military response to 9/11 was completely inappropriate, and played right into the hands of those who perpetrated the attack. Also, you may bag on Clinton for letting his chance at OBL slip away, but Bush did the very same thing when presented with intelligence that suggested an attack on US soil, using commercial airliners was imminent. Face uk canada goose sale it, you cannot put a pretty face on GW Bush presidency. One of the absolute worst and most disastrous terms in our history. canada goose factory sale
December 27, 2011 at 4:09 pm
Blah i hate to break it to you by Obama has far exceeded Bush spending and i know telling someone like you that is like talking to a brick wall so let me ask you this When do we stop this irresponsible spending?? When will it be too much? Answer: Never, this president knows no limits because he will never admit that government is not the solution the private sector (people who produce) can save this country And he will never loosen the noose bc is diminishes his power.
