A few points to make:
- The $4 trillion referred to above was not spending, but the increased amount of debt under Obama. The Federal budget is over $3 trillion a year. The
increased in both deficit and debt as a percentage of the Federal budget is the largest in history under Obama.
- The largest deficit Bush ever had was a little under $500 Billion and that was in the last year of his Presidency. Mostly due to his insane bailout
- Obama is running deficits of $1.7 trillion a year.
- 60% of govt spending is on entitlement programs and the US govt borrows 42% of its spending. In other words, if all the govt did was cut checks for
people's things, we would still have to borrow money.
- Tax revenue under Bush went up 80%. His problem was massive spending. Not including the military, Bush doubled the size of govt. Not very
conservative if you ask me. Obama has just taken Bush's spending model and put it on steroids.
- Obama blames the deficits on not taxing the wealthy enough. However, if you taxed those making $1 million + a year at 100% it wouldn't even close
the deficit. So blaming it on taxes for the wealthy is dishonest. There is absolutely no way around massive spending cuts since there is not funding
source to close the deficit.
- Govt statistics are highly misleading. So while the official unemployment rate has gone down, less people have jobs now than when Obama took office.
This is what economists call the labor participation rate. Basically its how many people in the population are working. As people drop off of the govt
unemployment programs they aren't counted as unemployed anymore. But if you just track how many total people are employed in the US, you get the real
picture. And its continued to drop under Obama even with all the
In conclusion, my points are not intended as a slam on Democrats or Liberals. Just about Obama and how ineffectual his policies have been.
Additionally the points are made to show the dire nature of our nation's finances and that it is a spending problem, since no amount of tax increase
on the wealthy could close the deficit. Also, this is not meant to in anyway support Bush. He was a horrifically terrible fiscal President who spoke
like a conservative, then doubled the size and spending of the US govt. Bush was terrible fiscally, Obama is worse. Republicans failed the American
people, and Democrats failed the American people. Neither party, nor any President deserve our unwavering support and allegiance ladies and gentlemen.
Stop viewing US politics likes its a team sport and rooting for one side, defending everything they do, and bashing everything the other party did.
edit on 11-5-2011 by johnny2127 because: (no reason given)