Yes, indeed, it does date from more than 2 years ago. Remember that at
one time (I believe it was the Clinton era) that there was a surplus?
Tax cuts (to the rich especially) and a war in Iraq based on intended or
unintended deception plus a mismanaged war in Afganistan caused the
current deficit. This was of course compounded by mismanagement of
several branches of governmemt (Bureau of mining etc, and oversight of
banking are only 2 of them) caused the housing bubble.
Now everyone wants to keep their benefits that they are "entitled" to,
and wants someone else to pay. I guess that is human nature, but what
about the common good?
If you believe there was a surplus, check out the national debt history.
You'll find the last time the debt was reduced was in the last year of
the Eisenhower administration. The debt has increased every year since.
Once the "creative accounting" procedures used between 2001 thru 2008
were corrected and the total real debt published, Obama was handed a
1.2 trillion debt when he was handed the keys to the office in 2009.
As of this writing two years later, don't think the debt has quite
reached 4.4 trillion required to quadruple the debt, but it is just
another smoke and mirrors job by the lobbyists of the rich and famous
to protect their client's piggy banks.
First, what the "one" was handed was the "deficit" of about $400 billion
and a "debt" of about $10 trillion. You are aware of the relationship
of debt/deficit/surplus? The deficit is now about $1.6 trillion and the
debt is now over $14 trillion.
If you don't believe me, check out the US gov debt web site:
The "one" has control of the government debt web site, so why would he
allow these numbers to be made public if he disagreed with them?
Why not 2000, or 1950?
Oh, wait, you rather cut benefits than pay taxes. Well, you'll have your
wish. All of us will have benefits cut. I just hope my savings will be
inflation proof. I am retired, and loving it!!
Remember the farce of "trickle down economics" courtesy of Reagan?
If you bother to check the records, the "rich and famous"(top 5% of
income earners) high income portion of the population has seen it's
taxes continue to be reduced since 1986.
Those businesses who could afford the "K" street lobbyists have also
seen their investment richly rewarded in the form of reduced taxes.
As long as the little guy believes the dream he is fed that when he
gets to be a big guy, (top 5% of income earners), he will be part of
the "club", nobody is going to get his newly generated assets, the
easier it becomes to control the little guy.
Most of those dreamers have a better shot at winning the lottery.
The idea that a business will not be competitive if it has to pay
taxes but rather that tax burden should be transferred to it's
employees, suggests a business that probably shouldn't stay in
Businesses that provide goods and services the market needs and wants,
don't have a problem paying taxes.
Like it or not, government is necessary and has a cost in our society.
Since the end of WWII, the total cost of government, which includes
everything from the local dog catcher to the president, has remained
constant at about 35% plus or minus a point.
Now who gets the honor of paying that 35% is what this discussion is
So far, the top 5% of income earners appear to be doing a pretty good
job avoiding them.
We will probably all agree there, Lew.
But, like it or not, BIG government is UNnecessary and adds a
devastating cost to (and effect upon) our society.
The more passions and desires one has,
the more ways one has of being happy.
Actually I believe it is up to about 14,000,000,000,000,000 else why
would we have to be raising the debt ceiling which is about 14.3T.
I believe is was about 10,000,000,000,000,000 when pelosi pulled the
plug on the financial industries in Sept 28, 2008, as obama has been
adding about 1.5T every year since he took office.
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