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History of the debt ceiling.

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posted on Jul, 21 2011 @ 08:59 PM
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Here's a nice, short vid about the history of the debt ceiling. The graph shows how our debt has exploded since the '80's and the acceleration of spending shows no sign of slowing.



The fact that a full 40% of US expenses aren't covered by tax income should really worry people. The most disturbing thing about the graph is how revenues remain completely flat for the foreseeable future while debt continues to climb.

Revenue has been flat since the 80's, when the Republicans made all those big tax cuts and decided to "starve the beast" in order to kill big government. Problem is; they forgot to cut up the credit cards while they were at it and spending exploded off the charts. It makes me wonder if all those tax cuts for the rich have really helped America.

If you look at the last chart they show, you can see the point where revenue actually outpaced spending in the mid-90's under Clinton and his tax increases.
edit on 7/21/11 by FortAnthem because:



posted on Jul, 21 2011 @ 09:38 PM
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Originally posted by FortAnthem



Revenue has been flat since the 80's, when the Republicans made all those big tax cuts and decided to "starve the beast" in order to kill big government. Problem is; they forgot to cut up the credit cards while they were at it and spending exploded off the charts. It makes me wonder if all those tax cuts for the rich have really helped America.


The Republicans have been trying to 'prove' government doesnt work by intentionally sabotaging it. Because Corporations fear Government.



posted on Jul, 21 2011 @ 09:55 PM
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yup it is only going to get worse, somehow we have to stop the criminals in washington. it brings to mind something i saw in a movie once as a child.

Is it raining? Is it snowing?
Is a hurricane a-blowing?
Not a speck of light is showing,
So the danger must be growing.
Are the fires of Hell a-glowing?
Is the grisly reaper mowing?
Yes, the danger must be growing,
For the rowers keep on rowing,
And they're certainly not showing,
Any signs that they are slowing!
Willy Wonka



posted on Jul, 21 2011 @ 10:02 PM
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I still think the only way to get government spending under control is to tax EVERYBODY enough to pay for all those government perks we are getting.

When everybody, not just the super-rich, sees the cost of big government coming out of their paychecks, they'll finally get it through their thick skulls that current government spending is untenable. Only then will people be willing to make the tough choices on which programs to cut.



posted on Jul, 22 2011 @ 12:17 AM
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In the past Federal Appropriations bought things and funded the Federal Government.

Let's say the Federal Government wanted 1 case of pencils, which cost then $50.


To make the pencils a company had to start up and make loans to get equipment, materials, and resources. The Federal Government profited by generating hundreds monthly in revenue just from that company's loans.

The company had to have employees, who paid Federal Taxes and the Federal Government generated hundreds monthly in revenue from that as well.


You see the Federal Government LOST no money buying that 1 case on pencils. A Federal Government can never lose money.......


Unless you have 1 of 3 things:

A- Thieves in the Federal Government stealing from us
B- Federal Government doing things it's not supposed to do
C- Too many liabilities via RETIREMENTS the Federal Government can't afford.


We just hit the perfect storm where all 3 are happening. And the thieves are armed to the TEETH ready to kill it's citizens if they try and stop the stealing.

To keep this Empire going we need to stop 2 of the above 3 from happening. Our Federal Government has generated more revenue in the past 50 years than every single country on Earth COMBINED....

Yet we're collapsing into poverty. We've been robbed. Saudi Arabia has more US dollars than what you could find in every US State. We owe China so much money, the entire US workforce would have to work for China for an entire YEAR just to pay them back.

That's if the Chinese were willing to pay everyone an average $30,000 a year.....why would they do that?

If they collapse the US...maybe they could force you to work for them for 10 years at $3,000 a year.

The Debt Ceiling became an obsolete item once Bill Clinton ended Federal Tariff's on imports and started "Free Trade"....which forced American laborers to compete with someone in China willing to work for a cup of rice a day.

Free Trade sent America into poverty, and also ended it's sovereignty. We no longer have a military force capable of fending China off. Sailing ghosts ships around the oceans isn't a military. The Pentagons plan to "automate" it's new ships to be able to function with only a couple people aboard....isn't really a military ship.

Russia was wise in going thru it's Bankruptcy before the US. As Optimus Prime said...."I rise.....you fall"



posted on Jul, 22 2011 @ 01:40 AM
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Who is responsible for this gem?



"The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

Barack Obama - March 2006


www.dailymotion.com...



posted on Jul, 22 2011 @ 05:01 AM
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Originally posted by FortAnthem
Revenue has been flat since the 80's, when the Republicans made all those big tax cuts and decided to "starve the beast" in order to kill big government. Problem is; they forgot to cut up the credit cards while they were at it and spending exploded off the charts. It makes me wonder if all those tax cuts for the rich have really helped America.

If you look at the last chart they show, you can see the point where revenue actually outpaced spending in the mid-90's under Clinton and his tax increases.
edit on 7/21/11 by FortAnthem because:


Whoa, hold on a moment here. Don't lay the blame for this on the doorstep of the Republicans. mysite.verizon.net...
That revenue outpacing spending under Clinton did NOT happen thanks to Clinton's tax increases. It happened largely because the GOP lead Congress clamped down on spending big time. The GOP has history on their side and that history absolutely demonstrates that they spend less than the Democrats do. Hell, the early years of the Iraq war liberals were screaming bloody murder over ANNUAL deficits that the Democratic controlled presidency, house, and senate then turned into monthly deficits during Obama's first 2 years.

By and large, the GOP didn't have to cut up the credit cards because they had the discipline required to leave them alone in their wallets until disaster struck in the form of 9/11. Then, the credit cards were, in fact, used... but in a miniscule fraction of the magnitude in which they were used from 2007 to 2011.




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