The Debt Ceiling, is it Obama's fault? Bush's fault? Who's fault is it?

www.bbc.co.uk...

BBC did an article trying to explain the US debt ceiling to their audience. Obviously, there are people around the world who don't really get the US predicament right now, and many in their own country are not exactly sure who is behind the crisis.

Democrats and Republicans are all trying to pass the blame on each other. Threads are popping up condemning Obama, but if you truly believe that, you are better to pass blame onto Reagan, who had the National debt quadruple from 1 Trillion to about 4 Trillion. Bush surprisingly had a minor debt increase. Obama, has seen it double.



Of course, you can just as easily reverse the blame to the Senate and the House, who have to approve the rise in debt ceiling each time it happens.

Again, this only works if the aim is to play the blame game, and not look at the overall problem.

There are many factors that play into why the US is in so much debt. Like bills signed through in both controlling periods of both parties.

The two party system is one of the biggest problems. And the US is not the only country.

We see it in many countries, as soon as the left or right is voted into office, suddenly rules and regulations pass which shift power to private industry that is betting on either side. Both sides claim corruption, but it is merely a switch of hands when the power shift happens.

If left-sided corporations were raking in money from government programs and subsidies, when the right take over, they shift that money towards their own corporations that do the same thing.

It is the same story over and over, and it keeps replaying itself on either side. The "platforms" of both groups, are nothing but superficial BS, aimed at distracting the public. Healthcare, religion, policing, schooling, all these things, neither party cares inherently about them. Only that their own corporate string pullers are getting their fair share of the cut when they get into power.

The difference between a republican and a democrat is simply what after school program they decided to join in university. Which reading club they signed up to after chasing some hot girl they caught glimpse of on their first day. The region they were born into. The rhetoric they heard their parents speak. The church they attended.

It's all the other side of the same coin.

If you think any of them are different than the other, you are just playing into the corrupt system.

See you when your debt hits 100 trillion.

reply to post by boncho

Thanks for clearly demonstrating that party affiliation has exactly zero to do with the staggering increase in debt. Both parties are equally guilty. In fact, they have conspired to ruin this nation intentionally or unintentionally, it really is irrelevant.

There is only one recourse left to the American people, we must remove most of our government's power and, as a consequence of neutering the power of officials, their positions will become redundant.

Peacefully but relentlessly, the austerity movement must now begin.

reply to post by boncho


Not sure if anyone has noticed with the graph you provided. Our debt flat lined 98-2000, then in 2001 ahem 9/11 :cough: all of a sudden the deficit grew like wild fire.... It's a conspiracy all in itself...

It's Woodrow Wilson's fault. The creation of the Federal Reserve Bank guaranteed an ever increasing national debt.

reply to post by greencmp


I agree. People have changed and the nation was a very different place 17 years ago when this last happened. People tolerated it then as just the game it ultimately is. The economy was also booming and gas was under a $1 bill with no reason to think crappy times and hitting bottom was just a couple decades away.

People are hungry, out of work, pissed off and just about had it now. Indeed..... Now is what I'd call the time for peaceful but like you say, relentless pressure to start. Heck, it might give people a constructive outlet to avoid more ...rash and foolish measures. Too much talk about that too around these days.

reply to post by boncho


Bush started it, Obama could have ended it. But he didn't. He did the exact opposite. Like much of his pre-election lies he promised to uphold. Obama is just Bush 2.0. Not better, not worse, just another brick in the wall of idiocy.

Not It...!!!!

reply to post by boncho


All of the above are at fault. Listen up folks it dosen't matter who is elected they are all puppets.

If you don't do as your instructed your dead just like J.F.K. etc.



This is why:

THE FED FEARS THE POPULATION WILL BECOME AWARE OF THIS FRAUD AND DEMAND CHANGE

We, the People, are at fault for being passive and allowing this to continue.

It dosen't matter who gets elected if they don't act in good faith of THE FEDERAL RESERVE they get killed

Rep. Louis T. McFadden (R. Pa.) rose from office boy to become cashier and then President of the First National Bank in Canton Ohio. For 12 years he served as Chairman of the Committee on Banking and Currency, making him one of the foremost financial authorities in America. He fought continuously for fiscal integrity and a return to constitutional government (Reference 1). The following are portions of Rep. McFadden's speech, quoted from the Congressional Record, pages 12595-12603:

Source


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reply to post by The only 1 who knows the


Dude!

I love the post, but how in the Sam Hill did you manage to get that all typed up so quickly? It would have taken me two hours and a full pot of coffee. It's almost like you had it ready to go just in case the topic came up.

reply to post by The only 1 who knows the

Rep. McFadden continued, "Every effort has been made by the Federal Reserve Board to conceal its power but the truth is the Federal Reserve Board has USURPED THE GOVERNMENT OF THE UNITED STATES. IT CONTROLS EVERYTHING HERE AND IT CONTROLS ALL OUR FOREIGN RELATIONS. IT MAKES AND BREAKS GOVERNMENTS AT WILL.

Mod Note: Posting work written by others.– Please Review This Link.

The debt ceiling is an old and antiquated leftover from before we had a world economy.

The debt ceiling is a misnomer anyway since it doesn't restrict debt at all, it only restricts paying for our debt that we have already incurred.

America is one of only two nations that still use a debt ceiling, it needs to be done away with.

reply to post by VictorVonDoom


I been doing the research since J.F.K. and followed the money. Been doing a lot of reading and it leads to the Federal Reserve.

We need to get rid of the Federal Reserve......................................................

reply to post by The only 1 who knows the


Politions 2 Sides of the same coin. Each work for the Federal Reserve Banks. Dosen't matter who is elected
if you don't protect the Federal Reserve you wind up like JFK, Lincoln etc.

We can't have any gold or silver standard because there is not enough of either to go around. That is why we were taken off the gold or silver standard.

But oil ya.

AlienScience
The debt ceiling is an old and antiquated leftover from before we had a world economy.

The debt ceiling is a misnomer anyway since it doesn't restrict debt at all, it only restricts paying for our debt that we have already incurred.

America is one of only two nations that still use a debt ceiling, it needs to be done away with.

There sure are a lot of people anxious to see America continue to spend itself into total obliteration. I almost wonder how much some root for it.

Collapse may be unavoidable by math alone at this point (Or we could run a surplus of over a half trillion dollars for the next 50+ years to pay it off while covering interest....ha ha ha) but we don't need to go racing into it like a Ferrari into a brick wall.

I'd love it if we slow down on self destruction by reckless and totally insane financial conduct...just a little. Even drunken sailors are starting to mumble about wild spending.

It's the fault of Congress.

And from the actual figures showing spending and deficit spending....

It looks like it took off like a rocket in Jan 2007, when Democrats reaped the spoils of war against taxpayers.

Deficit spending has gone down *slightly* since Republicans took control of the House in Jan 2011.

All Roads Lead to Rome.

The only 1 who knows the
reply to post by VictorVonDoom

 

I been doing the research since J.F.K. and followed the money. Been doing a lot of reading and it leads to the Federal Reserve.

We need to get rid of the Federal Reserve......................................................

Oh, I agree. But to have all the names, dates and figures readily available to put together a post like that. Dude!

I would not play poker with you.

Whos fault big over-bloated, corrupted and out of control government for the last 30 years, that is the one at fault.

Our for the people government have no problem wasting and abusing the tax payer money in order to keep their agendas and those agendas are not longer within the people.

reply to post by VictorVonDoom


" We the People are the goverment "

We need a change to go back to 1913 to eliminate the Federal Reserve Banks.

It's been 100 years and its got to go or we are done.

Wrabbit2000
Even drunken sailors are starting to mumble about wild spending.

As a former drunken sailor, I take offense to that. Back in the day, I never spent more than I had.

reply to post by xuenchen


I have seen you do this a few times, provide a chart without any links.

What are you hiding?