Debt Ceiling - Open Discussion, Please

Willtell
reply to post by xuenchen

 

As big as your eyes are you are still blind. As well you distort facts.

It is a fact that under republican austerity people commit more suicides
www.alternet.org...

Clinton actually left a budget surplus. Bush wrecked it with his war on terror.

Reagan left and started the biggest deficit of all presidents combined.
He did this by cutting taxes on the rich and super rich and then after realizing this would bankrupt the country went and raised taxes on the middle class 11 times.

Can you show some government facts and figures ?

Tables and charts help see the picture.

otherwise, שטויות

reply to post by neo96

Sitting there saying the Federal reserve is responsible for current government spending ?

They control inflation. They can make the value of the dollar rise and fall as they please. Want more government spending? Just drop the value of the dollar. Also they control the jobs market though loans to the banks the same people they are paying billions to not make loans. So yes they are responsible for a lot of government spending.

reply to post by xuenchen


thinkprogress.org...

1. Reagan was a serial tax raiser. As governor of California, Reagan “signed into law the largest tax increase in the history of any state up till then.” Meanwhile, state spending nearly doubled. As president, Reagan “raised taxes in seven of his eight years in office,” including four times in just two years. As former GOP Senator Alan Simpson, who called Reagan “a dear friend,” told NPR, “Ronald Reagan raised taxes 11 times in his administration — I was there.” “Reagan was never afraid to raise taxes,” said historian Douglas Brinkley, who edited Reagan’s memoir. Reagan the anti-tax zealot is “false mythology,” Brinkley said.

2. Reagan nearly tripled the federal budget deficit. During the Reagan years, the debt increased to nearly $3 trillion, “roughly three times as much as the first 80 years of the century had done altogether.” Reagan enacted a major tax cut his first year in office and government revenue dropped off precipitously. Despite the conservative myth that tax cuts somehow increase revenue, the government went deeper into debt and Reagan had to raise taxes just a year after he enacted his tax cut. Despite ten more tax hikes on everything from gasoline to corporate income, Reagan was never able to get the deficit under control.

4. Reagan grew the size of the federal government tremendously. Reagan promised “to move boldly, decisively, and quickly to control the runaway growth of federal spending,” but federal spending “ballooned” under Reagan. He bailed out Social Security in 1983 after attempting to privatize it, and set up a progressive taxation system to keep it funded into the future. He promised to cut government agencies like the Department of Energy and Education but ended up adding one of the largest — the Department of Veterans’ Affairs, which today has a budget of nearly $90 billion and close to 300,000 employees. He also hiked defense spending by over $100 billion a year to a level not seen since the height of the Vietnam war.

3. Unemployment soared after Reagan’s 1981 tax cuts. Unemployment jumped to 10.8 percent after Reagan enacted his much-touted tax cut, and it took years for the rate to get back down to its previous level. Meanwhile, income inequality exploded. Despite the myth that Reagan presided over an era of unmatched economic boom for all Americans, Reagan disproportionately taxed the poor and middle class, but the economic growth of the 1980′s did little help them. “Since 1980, median household income has risen only 30 percent, adjusted for inflation, while average incomes at the top have tripled or quadrupled,” the New York Times’ David Leonhardt noted.

I told you there hypocrites and only talk about spending when a democrat is in office.

Why don’t you remember them being belligerent when Bush was in office?

As soon as a democrat gets in all of a sudden the republicans get thrifty.

reply to post by Willtell


Stories from known Left Wing sources ? Hmmm.

No data ? [ of course ]

Where's the official tables from the White House and budget office ?

Reagan deficit spent sure, but no where near the Obama levels.
[ maybe it was all Carter's fault ]

Fail