If you follow politics and if you watch cable new, you know Barack Obama has literally run our nation so much in debt, we are verging on a financial collapse. You know your kids and grand kids will work and earn for no purpose other than to pay Obama's debt. You know we have no future. Yes, Barack H. Obama has sold this nation down the drain, in less than four years! We cannot allow the man to serve a second term! The Chinese will have check-in points and debt collections drive through in every community.
China will add insult to the occupation. China will not hire people from the community to staff those debt collection stations. They will staff collections with Chinese who work in the US via forced relaxed immigration laws for Chinese Collectors: the new Debt Collection Visa.
Obama's Debt is a major misconception. No, it is an amazing 'lie' that works due to other contributing factors. Obama is a Democrat after-all, and "Lord, the man is ....The Other".
People should seek information that helps to deflect the tsunami of disinformation, misinformation and lies from the political Right. By now, you have to accept that Mitt Romney is a 'serial liar', and of late he has added clear evidence he is detached, unthinking and exercises extremely poor judgment. But it is the 'ability and inclination to so badly lie that has him at the top of the GOP 2012 ticket. He is truly the epitome of the GOP Circa 2000 and forward.
The website Zfacts Dot Com offers many links related to matters important to life in the United States. Everything one needs for an image of our lives and our nation is available to the curious person, from Military links to Trade lies to Debt Links, and Economy Links. Did I say the debt and the economy?
Let's have a close look.
Since January 20, 2009, President Obama has certainly contributed to the National Debt. There are reasons for his infusions to the debt, but only a couple of major initiatives were undertaken that take his responsibility for debt increases beyond 'things Republican".
Who do we owe and why do we owe?
Truman through Bush
Who ran-up the Debt?
If you looked at each chart, the picture and message is clear. President Obama has increased the debt , in part in an effort to revive a dying economy. His contributions (initiatives) include Healthcare reform, the Afghanistan War escalation, two huge expenditures. The latter should not have been undertaken.
See more after the break below
Let's explore the $12 plus trillion before Barack Obama's inauguration.
ZFacts.....The National Debt
Republican National Debt: $12 Trillion and Counting
This page explains
January 11, 2012. Republicans blame the "Democratic Congress" for their debt increases. The trouble is that Congress was only Democratic 8 out of the 20 years, and in those 8 years, on average, Congress passed smaller budgets than the Republican presidents requested. The specifics are all right here: It Was the Republicans.
So, let's add up the debt under Reagan and the Bushes. We can't blame Reagan for the debt's increase until his first budget took effect, October 1, 1981. Then, for 12 years until Sept. 30, 1993, the Republicans ballooned the debt. Later, George W. Bush took over.
- Under Reagan and Bush: $3.4 Trillion increase in the debt.
- Under George W. Bush: $6.1 Trillion.
- Total: $9.5 Trillion. (without counting interest)
But wait, there's interest on that debt ... continued below the graph.
The debt went up during Clinton's years only because of $2.2 Trillion interest on the Reagan-Bush debt. Otherwise Clinton would have paid off most the remaining WWII debt. G.W.Bush got by Reagan.
Just like a mortgage, the debt earns interest, and so the Reagan-Bush-I debt grew during the Clinton years. The average debt interest rate in those years was about 6.5%, which would increase it over 50% without compounding, but with compound interest the total debt – including interest – increased by $2.2 trillion.
- Total Republican debt from above: $9.5 trillion
- Interest on Reagan-Bush debt under Clinton: $2.2 trillion
- Interest on $11.7 trillion after G. W. Bush: $0.3 trillion
- Grand Total Reagan-Bushes Debt: $12 trillion (as of Sept. 30, 2010).
If the Republicans had not run up this $12 Trillion debt, we could easily have pulled out of the Great Recession.
The Progressive Influence (TPI) ......The chart green line placed in in a separate chart Link with explanation just below).
PopNotes used above:
1: StimulusThe Obama stimulus package spent $36 billion ($0.036 trillion) before the end of Bush's final budget years. This has been subtracted. the green line: The Green Lineon the graph above shows what the debt would have been if Reagan and the Bushes had balanced their budgets. (Full-size graph) sand-bagged: Not as Bad as He LooksAlmost half of the debt that Bush II ran up was from interest on the Reagan-Bush-I debt, but it was still all Republican.
While The Romney campaign will, on occasion, mention the "tough road" Obama inherited as he took office, they strategically avoid mention of the GOP Debt. And, it truly is a debt burden given to the nation by GOP administrations.
Rhetoric is one thing, lies is another, but lack of knowledge is a personal fault. A fault that leads to GOP administrations Before Ronald Reagan, there was no data to point to the obvious: big spending Republicans. After George W Bush, and the proximity to total economic collapse, you are seriously remiss if you ignore the data. We should find other ways to express and act-out displeasure with Barack Obama as president. Succumbing to GOP politicking, subterfuge, lies and manipulations will take the nation into the abyss the next time around.