The National Debt - How We Got Here!

[Barto1]

For those of you who are interested in really getting some understanding our debt history - here is a great video - Pretty Damn Accurrate too! Its funny and Fun to watch.

Lots of Nay -sayers on this page - they might enjoy this too!

http://www.youtube.com/watch?v=ZPWH5...C3F59D0AFA7361

[falcon]

You won't learn how we got there from that comic skit.

[RaySendero]

Originally Posted by falcon

You won't learn how we got there from that comic skit.

Nor will you learn the answer as to "How do we pay it off?"

[sachiko]

Originally Posted by RaySendero

Nor will you learn the answer as to "How do we pay it off?"

Step 1- Stop spending more than you take in.

Step 2- Start spending a little less than you take in.

[RobertSubnet]

Step 1- Stop spending more than you take in.

Step 2- Start spending a little less than you take in.

It takes the government to mess up what is obvious to anyone who knows how to add. But when you use the people's money to buy votes to keep your party in power debt is going to be incurred.

[nodog]

Originally Posted by RobertSubnet

It takes the government to mess up what is obvious to anyone who knows how to add. But when you use the people's money to buy votes to keep your party in power debt is going to be incurred.

True, but through what portal does government gain the opportunity? The welfare state is the result of the days before it controlled not by government but the people in power who gorged themselves on the freedoms of others. The country collectively vomited and the government became it's nurse. It just did it again which should lead to...

[falcon]

Slice it any way you want to slice it; two thirds of the national debt accured on the watches of of Reagan, Bush I and Bush II. When Ronald Reagan took office the national debt stood at about 1 trillion dollars. Reagan almost tripled the national debt on his watch. Bush I added 1.6 trillion dollars to the national debt. Bush II added a whopping five trillion to the national debt.

Strange that the last budget surplus happened on the watch of Bill Clinton. There is something much worse than "tax and spend". That thing is borrow and spend and the Republicans are good at it, just like Obama is good at it.

http://thenationaldebtcrisis.com/the...-by-president/

[RobertSubnet]

Strange that the last budget surplus happened on the watch of Bill Clinton.

Which never would have happened had Newt not forced him to keep his spending in line.

[sachiko]

Originally Posted by falcon

Slice it any way you want to slice it; two thirds of the national debt accured on the watches of of Reagan, Bush I and Bush II. When Ronald Reagan took office the national debt stood at about 1 trillion dollars. Reagan almost tripled the national debt on his watch. Bush I added 1.6 trillion dollars to the national debt. Bush II added a whopping five trillion to the national debt.

Strange that the last budget surplus happened on the watch of Bill Clinton. There is something much worse than "tax and spend". That thing is borrow and spend and the Republicans are good at it, just like Obama is good at it.

http://thenationaldebtcrisis.com/the...-by-president/

I'll assume falcon is correct here since he usually posts reliable stuff. But there may be more to the story. I think we need to know, in addition to who was president, which party contolled Congress, since the president does not decide all by himself how to spend the money, who to tax and for how much, and how much to borrow if any.

So falcon's data seems incomplete.

I also think I would like to make another point. It doesn't matter who is responsible for whatever deficit spending has occurred in the past. What we need to focus on is the need to stop borrowing. At some point in the future we will run up against the wall. Right now is a good time to rein in the spending.

It seems as though every other day, I read in our local paper that some project is going to be financed by a "grant" from the federal government. This has to be stopped.

[falcon]

Which never would have happened had Newt not forced him to keep his spending in line.

Show me where Newt Gingrich and the Republicans drastically cut Clinton's budget requests.

I'll assume falcon is correct here since he usually posts reliable stuff. But there may be more to the story. I think we need to know, in addition to who was president, which party contolled Congress, since the president does not decide all by himself how to spend the money, who to tax and for how much, and how much to borrow if any.

The POTUS submits a budget to congress. Looking at the past 30 years: Show me where the final budget varied more than a few percent from the budget submitted by POTUS.

Remember the promises made by Republicans and tea partiers to cut 100 billion from FY 2010 budget? They lied, of course.