UnPrecedented Deficits

5 responses to “UnPrecedented Deficits”

1. chrissythehyphenated

   April 18, 2012 at 7:20 pm

   Just saw this at Conservative Bytes (January 2012): “If the election were today, it would be a landslide loss,” Limbaugh said this afternoon. “Let me define landslide: five to seven points. It’d be big. It would be huge.”

   “Make no mistake about it,” he continued. “Of this I am as confident as anything. I know it’s not reflected anywhere else in the media and it’s not reflected too many other places in conservative media. But I’m telling you, he’s toast. Just as Jimmy Carter was toast, and nobody knew it until election night [in 1980].”

   Cheers me right up!

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2. itooktheredpill

   April 20, 2012 at 3:42 pm

   With integrity, civility and fiscal discipline, our New Direction for America will use commonsense principles to address the aspirations and fulfill the hopes and dreams of all Americans. That is our promise to the American people.

   …

   Our federal budget should be a statement of our national values. One of those values is responsibility. Democrats are committed to ending years of irresponsible budget policies that have produced historic deficits. Instead of piling trillions of dollars of debt onto our children and grandchildren, we will restore “Pay As You Go” budget discipline.

   Budget discipline has been abandoned by the Bush Administration and its Republican congressional majorities. Congress under Republican control has turned a projected $5.6 trillion 10-year surplus at the end of the Clinton years into a nearly $3 trillion deficit– including the four worst deficits in the history of America. The nation’s debt ceiling has been raised four times in just five years to more than $8.9 trillion. Nearly half of our nation’s record debt is owned by foreign countries including China and Japan. Without a return to fiscal discipline, the foreign countries that make our computers, our clothing and our toys will soon be making our foreign policy. Deficit spending is not just a fiscal problem – it’s a national security issue as well.

   Our New Direction is committed to “Pay As You Go” budgeting – no more deficit spending.

   Nancy Pelosi

   House Democratic Leader

   That is what Pelosi and the Democrats promised in 2006, when Pelosi was House Minority Leader. The Democrats won the 2006 elections with promises of “Budget discipline” and “no more deficit spending”.

   Instead, the Democrats have produced the FIVE worst budget deficits in the history of America, EACH over $1 Trillion, and EACH of them more than double (one more than triple!) the size of the last Republican deficit of $501 Billion.

   Democrats LIE.

   NEVER trust a Democrat on any fiscal issue.

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3. itooktheredpill

   April 20, 2012 at 3:58 pm

   See: http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt.htm

   On June 30th, 1957, the end of the last Fiscal Year which actually reduced, rather than increased, our national debt, our nation’s total national debt at that time was $270,527,171,896.43 (round up to $271 Billion).

   Now, our total national debt is over $15,677 Billion ($15.677 Trillion), an increase of over $15,406 Billion ($15.406 Trillion)

   Are the two parties “both equally culpable”, as Dante claims?

   No, not even close.

   Give credit/blame to the party that controlled a majority (2+ out of 3) of the budget-making bodies (House, Senate, and Presidency).

   Since June 30th, 1957, Republican majorities have added $5,386 Billion ($5.386 Trillion) to the total national debt, while Democrat majorities have added $10,020 Billion ($10.020 Trillion) to the total national debt.

   Since June 30th, 1957,
   Republican majorities have been responsible for 35% of the additional $15.403 Trillion debt, while Democrat majorities have been responsible for 65% of the additional $15.403 Trillion debt.

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4. chrissythehyphenated

   April 20, 2012 at 6:29 pm

   Thanks, Red!! Great stuff!!

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