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US reached debt ceiling...again
- Thread starter Geriatrix
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- debt ceiling
Candidate Obama:
The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.
President Obama:
The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama’s watch.The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It’s the most rapid increase in the debt under any U.S. president.
The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.
President Obama:
The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama’s watch.The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It’s the most rapid increase in the debt under any U.S. president.
JerryMungo
Honorary Master
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It's called momentum. As if the president of the country can actually stem the tide?
Geriatrix
Executive Member
Well, to be fair, Obama is pretty much running the country like Bush 2.0
The_Unbeliever
Honorary Master
Chickens. Home. Roost.
killadoob
Honorary Master
Alan bush started this, Obama walked into a sinking a ship. It's the same as becoming the CEO of a company in debt and then when it gets further in debt you get blamed even though the old CEO was the idiot who started it.
Sadly playing the blame game makes little to no difference, they should be looking for solution not placing blame.
Sadly playing the blame game makes little to no difference, they should be looking for solution not placing blame.
Read Alan's first post in this thread. Sure, Obama inherited Bush's mess... and then proceeded to enact the same or worse policies.
Geriatrix
Executive Member
Yeah you're right. Bush is an angel who did absolutely nothing wrong at all ever and Obama is sooooo bad that his failures is also rushing back in time turning Bushs economic miracles turn into turds.fixed.
Seriously, get over your blind hate for Obama. He's just as useless as Bush but you're acting like he's the next Mao or King Jong Ill.
Kosmik
Honorary Master
He was under pressure to implement more and more social policies. One cannot implement social policies when a country is drowning in debt.
Geriatrix
Executive Member
I agree with your second statement. But Alan is implying that it's all Obamas fault. This mess can be traced back a couple of presidencies though.
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Uh, escalating the wars, bailouts and stimulus programs aren't social policies...
Long before that. Think 1913 and the inception of the Federal Reserve system...
Geriatrix
Executive Member
Lycanthrope
Honorary Master
Or, to put it into a perspective South Africans can understand: It's like blaming Apartheid 17-years on for the failings of the ruling party.
Just saying
Mike Hoxbig
Honorary Master
He's picking up the pieces dropped by Bush. In what way is Obama solely to blame? Should he bring the troops home and risk backlash from the conservatives, or continue to fund the wars started by Bush and risk a backlash from everyone else?
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reactor_sa
Executive Member
Haha, ya, conspiracy...
It's no conspiracy; fractional reserve banking and the nationalisation of currency is the mechanism by which government spending can become so uncontrollable...
