Subject: An Old Missouri Saying
An old Missouri Hillbilly saying:
You cannot get the water to clear up,
until you get the pigs out of the creek.
Posts
4 comments:
Obama inherited the debt. Just like the president who'll be elected in 2016.
So let's look at spending, instead.
http://www.pensitoreview.com/Wordpress/wp-content/themes/mimbo2.2/images/chart-obama-radically-less-spending.jpg
Well, gee, look at that! Did you realize that, tea-baggers? OF COURSE YOU DIDN'T.
The only ways to pay debt back is to abolish all social programs (which is failure on a colossal scale) or increase taxes (an obvious, easy win for all).
Back during WW2, Debt exceeded 100% of GDP. Yet somehow we managed to pay it off and thrive. Amazing what you can do when you actually tax people at an appropriate level. And despite all the hysteria about high taxes hurting "job creators" and stifling the economy, the economy was booming!
After that debt held steady in real dollars and began a long decline in terms of debt to GDP ratio. Things were well in order, right up until... 1981, when the trend reversed itself. Reagan tax cuts, Bush tax cuts, 2 wars and a banking bailout later, and we get to where we are today, with a Democratic President actually decreasing the rate of government spending to its lowest levels in decades.
Also, remember that back in 1792, 6.5 trillion dollars was like...more than the sum total of all precious metals anywhere in the universe.
Marc is out stargazing again!
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