
05-29-2011, 03:23 PM
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Keeneland
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Join Date: Mar 2007
Posts: 14,153
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Quote:
Originally Posted by dellinger63
  Finally.
And as posted over and over his spending has increased $2.67 trillion compared to Bush while payments made towards interest has decreased. If he could only somehow make a U-turn we'd be headed in the right direction.
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Well, if you are going to be "head-in-the-sand" simplistic regarding who initiated that debt, and who causes our deficit, there's nothing I can do.
Again, I'm glad you are going to blame every bit of debt we have on whomever takes office in January 2016. Because that's exactly what you are doing, now.
Quote:
BTW: via Politifact, regarding the deficit - and who increased it, and who is already decreasing it.
To get historic perspective, we looked at U.S. budgets from 1930 until 2010. The highest deficits, as a percentage of spending, came in 1943 during World War II, when 69.5 percent of spending was debt financed.
In 1985, during when Ronald Reagan was president, the gap was 22.4 percent, and the deficit gap never fell below 11 percent under his watch.
In 1995, during the Clinton Administration, the gap was 10.8 percent. The budget would actually enjoy four years of surplus at the end of his tenure, reaching a high point with revenues exceeding spending by 13.2 percent in 2000.
In 2005 under George W. Bush, deficit spending accounted for 12.9 percent of outlays. The 2009 budget, passed during Bush’s final months in office and altered when Obama took over, saw spending exceed revenues by 40.2 percent.
To review, Rigell said the United States is "borrowing more than 40 cents of every dollar we spend." Under the total budget figures the deficit is actually a bit smaller than that mark, coming in at 37.5 percent in the last fiscal year and a slightly lower number so far this year.
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Quote:
Politifact: Eric Cantor says: In the past two years, Democrats have "spent more money than this country has spent in the last 200 years combined."
Pants-On-Fire lie
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