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The Water Cooler
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The U.S. Govenment is Conducting a Ponzi Scheme
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<blockquote data-quote="Ace_on_the_Turn" data-source="post: 2670566" data-attributes="member: 27417"><p>First, I did include a chart of debt to GDP. </p><p></p><p>Second, from the linked article, " $7.4 trillion, an amount about equal to the amount Obama has added to our national debt so far...". That is flat out wrong, as I showed. That amount includes every penny added to the debt since the day Obama took office. A new president has next to nothing to do with the budget for the year he takes office. Blaming Obama for the nearly $1 trillion of debt added in 2009 after he took office is so deceitful it rises to the level of being a lie. </p><p></p><p>Third, from the linked article, "President Obama promised to cut the deficit in half by the end of his first time." The deficit for 2013, the last one written by the Obama administration in the last year of his first term, included $680 billion of defict spending. That's half of the $1.4 trillion in Bush's last budget. </p><p></p><p>I wonder why RedState is so outraged by the 70% increase (which is not even true) under Obama, but not a word about the 100% increase under Bush or the 300% increase under Reagan.</p></blockquote><p></p>
[QUOTE="Ace_on_the_Turn, post: 2670566, member: 27417"] First, I did include a chart of debt to GDP. Second, from the linked article, " $7.4 trillion, an amount about equal to the amount Obama has added to our national debt so far...". That is flat out wrong, as I showed. That amount includes every penny added to the debt since the day Obama took office. A new president has next to nothing to do with the budget for the year he takes office. Blaming Obama for the nearly $1 trillion of debt added in 2009 after he took office is so deceitful it rises to the level of being a lie. Third, from the linked article, "President Obama promised to cut the deficit in half by the end of his first time." The deficit for 2013, the last one written by the Obama administration in the last year of his first term, included $680 billion of defict spending. That's half of the $1.4 trillion in Bush's last budget. I wonder why RedState is so outraged by the 70% increase (which is not even true) under Obama, but not a word about the 100% increase under Bush or the 300% increase under Reagan. [/QUOTE]
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