| Topic: |
Politics > Politics-USA |
| User: |
"Harry Hope" |
| Date: |
24 Nov 2007 07:28:49 AM |
| Object: |
.George W. Bush, the most reckless spender of our lifetime. |
From The Buffalo News, 11/24/07:
http://www.buffalonews.com/149/story/213651.html
Reckless spending is a hallmark of this presidency
By Paul Weinstein Jr. and Marc Dunkelman
The libertarian Cato Institute’s budget director:
“He’s a big government guy.”
The conservative Club for Growth’s executive director:
“He’s a big spender. No questions about it.”
Who were they talking about?
Walter Mondale?
Michael Dukakis?
Nope.
Those comments referred to George W. Bush, a president who recently
claimed the title “Most Profligate President.”
He’s easily the most reckless spender of our lifetime.
And Washington did not slip into the red by accident.
Discretionary outlays, adjusted for inflation — meaning taxpayer
dollars spent voluntarily — have grown 5.3 percent under George W.
Bush, more than Ronald Reagan and Gerald Ford combined.
But to make your jaw drop, how about this statistic:
spending growth under “W” is more than double what it was under Jimmy
Carter.
In the face of growing the budget, Bush has chosen to cut taxes.
And so what’s the result?
A whopping big deficit, the likes of which we’ve never seen.
In fact, after eight years of responsible stewardship under President
Clinton, the Bush administration has turned a projected $5 trillion
surplus into a $2.8 trillion deficit.
Some GOPers are arguing the deficits don’t matter.
But they do, and let us explain why.
First, whether it’s your brother-inlaw or the Bank of America, a
creditor has claims that you can’t entirely ignore.
And the Bush administration’s failure to balance the budget has forced
the U.S. Treasury to sell bonds at an explosive rate:
$1.2 trillion between 2000 and 2005.
Who’s bought all that debt, lending us the money we need to keep the
government open?
A great deal has been purchased by foreign governments — many of whom
have foreign policy interests that don’t always mesh with our own.
As President Clinton said a few years back, the Bush administration’s
penchant for racking up debt has forced the United States, “to go
borrow money. Most of it they borrow from the Chinese and the Japanese
governments. Sure these countries are competing with us for good jobs,
but how can we enforce our trade laws against our bankers?”
This brings us the most important reason deficits matter:
When we borrow money without paying it back, we bequeath our children
and grandchildren higher tax rates and much more meager public
benefits than we enjoy, because they will have to foot our bill.
There is a better way.
At the end of World War II, America’s debt exceeded its entire gross
domestic product (GDP).
Yet rather than throw up their hands, our parents and grandparents
whittled down their deficits.
What did the “greatest generation” know that we have forgotten?
Simply this:
Opportunity, not debt, is the legacy we owe to future Americans.
____________________________________________________
http://brillig.com/debt_clock/
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 24 Nov 2007 at 01:26:39 PM GMT is:
$ 9 , 1 2 3 , 9 9 3 , 9 1 0 , 1 6 9 . 1 0
The estimated population of the United States is 303,620,152
so each citizen's share of this debt is $30,050.69.
The National Debt has continued to increase an average of
$1.47 billion per day since September 29, 2006!
Harry
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| User: "Gar DLoo" |
|
| Title: Re: .George W. Bush, the most reckless spender of our lifetime. |
24 Nov 2007 08:25:52 AM |
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In article <7o9gk352e28ikbhvrp68ild6sn9n4uffpc@4ax.com>, Harry Hope
<rivrvu@ix.netcom.com> wrote:
From The Buffalo News, 11/24/07:
http://www.buffalonews.com/149/story/213651.html
Reckless spending is a hallmark of this presidency
By Paul Weinstein Jr. and Marc Dunkelman
The libertarian Cato Instituteâs budget director:
ăHeâs a big government guy.ä
The conservative Club for Growthâs executive director:
ăHeâs a big spender. No questions about it.ä
Who were they talking about?
Walter Mondale?
Michael Dukakis?
Nope.
Those comments referred to George W. Bush, a president who recently
claimed the title ăMost Profligate President.ä
Heâs easily the most reckless spender of our lifetime.
And Washington did not slip into the red by accident.
Discretionary outlays, adjusted for inflation ÷ meaning taxpayer
dollars spent voluntarily ÷ have grown 5.3 percent under George W.
Bush, more than Ronald Reagan and Gerald Ford combined.
But to make your jaw drop, how about this statistic:
spending growth under ăWä is more than double what it was under Jimmy
Carter.
In the face of growing the budget, Bush has chosen to cut taxes.
And so whatâs the result?
A whopping big deficit, the likes of which weâve never seen.
In fact, after eight years of responsible stewardship under President
Clinton, the Bush administration has turned a projected $5 trillion
surplus into a $2.8 trillion deficit.
Some GOPers are arguing the deficits donât matter.
But they do, and let us explain why.
First, whether itâs your brother-inlaw or the Bank of America, a
creditor has claims that you canât entirely ignore.
And the Bush administrationâs failure to balance the budget has forced
the U.S. Treasury to sell bonds at an explosive rate:
$1.2 trillion between 2000 and 2005.
Whoâs bought all that debt, lending us the money we need to keep the
government open?
A great deal has been purchased by foreign governments ÷ many of whom
have foreign policy interests that donât always mesh with our own.
As President Clinton said a few years back, the Bush administrationâs
penchant for racking up debt has forced the United States, ăto go
borrow money. Most of it they borrow from the Chinese and the Japanese
governments. Sure these countries are competing with us for good jobs,
but how can we enforce our trade laws against our bankers?ä
This brings us the most important reason deficits matter:
When we borrow money without paying it back, we bequeath our children
and grandchildren higher tax rates and much more meager public
benefits than we enjoy, because they will have to foot our bill.
There is a better way.
At the end of World War II, Americaâs debt exceeded its entire gross
domestic product (GDP).
Yet rather than throw up their hands, our parents and grandparents
whittled down their deficits.
What did the ăgreatest generationä know that we have forgotten?
Simply this:
Opportunity, not debt, is the legacy we owe to future Americans.
____________________________________________________
http://brillig.com/debt_clock/
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt as of 24 Nov 2007 at 01:26:39 PM GMT is:
$ 9 , 1 2 3 , 9 9 3 , 9 1 0 , 1 6 9 . 1 0
The estimated population of the United States is 303,620,152
so each citizen's share of this debt is $30,050.69.
The National Debt has continued to increase an average of
$1.47 billion per day since September 29, 2006!
Harry
-------------------------------------------------------
WHEN WILL WE REALIZE THAT THE "COST" OF WAR IS PROFIT AND GAIN
TO THE PROFITEERS?
WAR HAS BECOME THE "INDUSTRY" OF THE UNITED STATES.
General Sanchez said: "There is no question that America is living a
nightmare with no end in sight"
OF COURSE THERE IS "NO END IN SIGHT".
THE "WAR" IS AN END IN ITSELF.
The object of the war was, has been, and IS -- to transfer the
contents of the U.S. Treasury to Bush's supporters, the war
profiteers; to enhance his "Unitary" powers,
and to dominate the oil resources of the middle east.
Continuation of the war continues the looting of the treasury and
confirms his "war presidency".
THE OBJECT OF THE "WAR" WAS NEVER TO
"WIN" BUT TO JUSTIFY THEIR OBSCENE PROFITS AND POWER GRAB.
Bush and his supporters have already "won" the war--- and they
continue winning every day the war continues.
WHAT REALLY TERRIFIES THEM IS THE PROSPECT OF ALL THAT UNITARY
PRESIDENTIAL POWER BEING TRANSFERRED TO THE DEMOCRATS IN THE 2008
ELECTIONS. THEY WILL GOTO ANY LENGTH TO AVOID THAT.
----------------------------------------------------
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