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Two numbers to fight by......


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Larry Hernandez

Thu Jul 09 2009, 05:14PM

Registered Member #6

Joined: Mon Jun 29 2009, 02:44AM
Posts: 21

When dealing with Tea-baggers or a public that is being scared by the huge deficit numbers, here are two numbers to fight with.

85 and 2.5

The first is shorthand for the 85% of the current accumulated Federal deficit that was NOT run up by Pres. Obama, but by Bush I, II and the Sainted Ronnie (to be precise, a very small sliver of that 85% can be traced back to Presidents before Reagan).

Notice that Bill Clinton is not in the list. He actually diminished the overall deficit in his eight years.

Second, the 2.5 tells us that in eight years of the Bush II presidency, George W. outspent Bill Clinton 2.5 to one.

While none of this is going to get President Obama off of the hook for eventually doing something about deficit reduction, it has to help in making the point that the 15% that Obama has added in the past six months is ABSOULUTELY needed to keep this severe recession from becoming another Great Depression.

What did Bush the Lesser do that was as important with his deficit spending?

What Obama is dealing with is an unprecedented act of public betrayal. Who among us doesn't think that running up such huge public deficits was always part of a long range Jacobin plan to cripple government and to drown it, as Grover Norquist put it?
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the two figures were provided by former Sec. of Treasury, Roger Altman in an interview last night with Charlie Rose.

Terry

Tue Jul 14 2009, 06:01PM

Registered Member #15

Joined: Tue Jul 14 2009, 04:27PM
Posts: 3

Since the interest on the national debt will be about $500 Billion this year, this means that $425 Billion of the defecit belongs to RR-GHWB&GWB. Since 1988 to the end of this year we have spent $7,000,000,000,000 on interest on the debt.

Keep in mind, this $7 Trillion did not buy one schoolbook or feed one hungry person. This money is all because RR-GHWB&GWB all felt it was more important to give tax cuts then show a little responsibility. This money is now being paid out to those who got those cut.

Peace out
Terry


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