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I would go as far as to say someone would have to have the IQ of an amoeba to not realize there *is* a debt and deficit problem but to understand how it is the compounded result of decades of things that contributed to it. You named the housing aspect but there's also the war on drugs aspect, iraq and afghanistan wars that weren't even put on the books until the previous president left office, decrease in the amount of revenue (taxes) the government is bringing in, escalating medical costs, one of the major reasons being the degree of environmental pollution that causes medical problems in the first place, and other aspects leading to an ever-increasing debt.
Quoting: Anonymous Coward 15343696 "According to Congressional Budget Office (CBO) figures released Monday, the budget deficit for February hit a staggering $223 billion - meaning the Obama administration added more in debt last month than was borrowed in all of 2007."
Obama's 2012 Budget:
[
link to www.heritage.org]
From 2009 to 2011:
•Total discretionary spending soared from $1.2 trillion to $1.4 trillion, an increase of over 16 percent.
•Total mandatory spending jumped from $2.1 trillion to $2.2 trillion, an increase of almost 4 percent.
•The national debt jumped from $6.6 trillion to $9.5 trillion, a whopping increase of 43 percent.
Over the same period, the nation shed 3.3 million jobs despite a series of unprecedented attempts to stimulate the economy with deficit spending, which contributed significantly to this unfortunate fiscal record. The President cannot be blamed for the financial crisis and Great Recession that ensued, but he certainly shares in the blame for the failure of his debt-exploding policies in response.
Your link led me to a website with distortions of facts. It would have helped your case if you provided a reputable source that doesn't distort the data to fit into its false narrative. I defend no one. I simply stated that there is a difference between the deficit and the debt. The deficit has fallen, although still high. This is a fact of math. You literally cannot dispute this is a fact. You can dispute that it is too high still but not that it is lower than it was, which is better than if it was higher than it was. Very simple concept here, no need to be a mathemagician.
I know from your link you are trying to insinuate that it is the fault of the current president that the debt is growing as much as it is and if you look to my previous post you will see how this is also something said in order to distort facts into framing the president as the one that is the sole reason why the debt grows while completely disregarding all the contributions previous presidents have made towards increasing the debt ever since America accelerated its aggressive actions against other nations (i.e. wars). This goes back, way back. Pinning everything on the black man is very foolish and short-sighted.
Nice try, but they get their numbers directly from the Treasury, that is their source. Look at the credentials of the economist who wrote it, and unless you have more knowledge than him I suggest you should pay attention to what he is saying.
This is part of his profile:
"Foster came to Heritage in 2007 after serving many years at the White House, the Executive Branch, Capitol Hill and private policy institutions. His last job before joining Heritage was at the White House's Office of Management and Budget, where he was Associate Director for Economic Policy. While there, Foster led the office's economic policy staff and advised three Directors on developments in the economy and potential changes in economic policy. He was also the chief adviser to the Director on matters of tax policy and led the OMB team in the Administration's "Troika" economic forecasting process. In addition, he played a leading role in the development and advancement of the Administration's pension and private health care policies."
As for responsibility, they do not blame him only
If you read the end of the quote I posted (bold):
Over the same period, the nation shed 3.3 million jobs despite a series of unprecedented attempts to stimulate the economy with deficit spending, which contributed significantly to this unfortunate fiscal record.
The President cannot be blamed for the financial crisis and Great Recession that ensued, but he certainly shares in the blame for the failure of his debt-exploding policies in response.
As for race.... there is no need to bring it up- you are the first here of the 2 of us.
There are good graphs on this page too(info taken from the treasury):
[
link to www.heritage.org]
