America soon to be owned by its creditors. Obama's true legacy to this country.

Quote:An auditor for the Government Accountability Office told lawmakers Wednesday that in the next few years the federal government will owe more than our entire economy produces.

Gene Dodaro, the comptroller general for the Government Accountability Office, testified at the Senate Budget Committee to provide the results of its audit on the government’s financial books.

“We’re very heavily leveraged in debt,” Dodaro said. “The historical average post-World War II of how much debt we held as a percent of gross domestic product was 43 percent on average; right now we’re at 74 percent.”

Dodaro says that under current law, debt held by the public will hit a historic high.

“The highest in the United States government’s history of debt held by the public as a percent of gross domestic product was 1946, right after World War II,” he said. “We’re on mark to hit that in the next 15 to 25 years.”

http://freebeacon.com/issues/government-...e-economy/

Obama has done little to nothing to stop this. That is maybe the single biggest failure of his presidency (and there are others).

That said it was the hero Reagan who really kicked this into overdrive to begin with.

(04-08-2016 12:56 AM)wmubroncopilot Wrote:  Obama has done little to nothing to stop this. That is maybe the single biggest failure of his presidency (and there are others).

That said it was the hero Reagan who really kicked this into overdrive to begin with.

How about a source for that. I'd suggest doing such in a % based way, as in, % growth v. debt % of GDP. By 1990 were we approaching 100+%?

If I'm wrong in my recollection, I'll own it. You?

Welcome to Greece. All you's hanging onto your public retirement "investments" better run for the hills. This clowncarcabal has driven you right off the tracks.

Obama is setting up Trump or Cruz after the 2016 election to have a Broken economy so then the Democrats can blame either of Them from the Get Go of failure. Of course the MSM will Never mention it was Obama's Fault.

hence, Trump....

but the dragoons love it....

fk'n I(E_)diots....

line 1b every goddammed day

(04-08-2016 01:39 AM)JMUDunk Wrote:  

(04-08-2016 12:56 AM)wmubroncopilot Wrote:  Obama has done little to nothing to stop this. That is maybe the single biggest failure of his presidency (and there are others).

That said it was the hero Reagan who really kicked this into overdrive to begin with.

How about a source for that. I'd suggest doing such in a % based way, as in, % growth v. debt % of GDP. By 1990 were we approaching 100+%?

If I'm wrong in my recollection, I'll own it. You?

Welcome to Greece. All you's hanging onto your public retirement "investments" better run for the hills. This clowncarcabal has driven you right off the tracks.

http://www.washingtonexaminer.com/how-mu...le/2560220

Thats a decent graph. Of course when Reagan left office he didn't have this % of GDP because he didn't start anywhere near as high. But he increased the debt by around 189% (highest in modern times) and as the chart shows, the only time that growth slowed significantly was under Clinton (of course helped by the .com bubble and the only Republican congress in recent memory that actually got tough on the budget).

I'm not trying to say Obama has done anything well on fiscal policy. The disaster continues. But the idea that Reagan was some sort of small government hero is an absolute fantasy.

Trump anyone?

(04-08-2016 11:34 AM)wmubroncopilot Wrote:  

(04-08-2016 01:39 AM)JMUDunk Wrote:  

(04-08-2016 12:56 AM)wmubroncopilot Wrote:  Obama has done little to nothing to stop this. That is maybe the single biggest failure of his presidency (and there are others).

That said it was the hero Reagan who really kicked this into overdrive to begin with.

How about a source for that. I'd suggest doing such in a % based way, as in, % growth v. debt % of GDP. By 1990 were we approaching 100+%?

If I'm wrong in my recollection, I'll own it. You?

Welcome to Greece. All you's hanging onto your public retirement "investments" better run for the hills. This clowncarcabal has driven you right off the tracks.

http://www.washingtonexaminer.com/how-mu...le/2560220

Thats a decent graph. Of course when Reagan left office he didn't have this % of GDP because he didn't start anywhere near as high. But he increased the debt by around 189% (highest in modern times) and as the chart shows, the only time that growth slowed significantly was under Clinton (of course helped by the .com bubble and the only Republican congress in recent memory that actually got tough on the budget).

I'm not trying to say Obama has done anything well on fiscal policy. The disaster continues. But the idea that Reagan was some sort of small government hero is an absolute fantasy.

Errr, okay. did you look at your own graph?

As a % of GDP, you still want to compare anything Ronaldus Maximus did to this disaster? Are you old enough to remember the dumpster fire Jimma left in 79-80? In less than 4 years we had the beginning of the largest economic expansion, and the largest job growth in U.S. history.

We also, simultaneously, ended the longest and most expensive war we've ever endured, be it hot or cold.

Economic growth actually works! Amazing, isn't it? Damn shame we havent given it a shot in nearly a decade.

Good luck Grads! Hope that mandated 15 bucks an hour pays the student loans and helps you raise a family... smdh.

(04-08-2016 11:34 AM)wmubroncopilot Wrote:  But the idea that Reagan was some sort of small government hero is an absolute fantasy.

Compared to Obama, he was.

(04-08-2016 11:37 AM)HeartOfDixie Wrote:  Trump anyone?

Nope.

"Trump’s policies could add more than $10 trillion to the deficit in the next decade, according to the nonpartisan Tax Foundation. This could potentially endanger the economy."

Link

(04-09-2016 01:56 AM)JMUDunk Wrote:  

(04-08-2016 11:34 AM)wmubroncopilot Wrote:  

(04-08-2016 01:39 AM)JMUDunk Wrote:  

(04-08-2016 12:56 AM)wmubroncopilot Wrote:  Obama has done little to nothing to stop this. That is maybe the single biggest failure of his presidency (and there are others).

That said it was the hero Reagan who really kicked this into overdrive to begin with.

How about a source for that. I'd suggest doing such in a % based way, as in, % growth v. debt % of GDP. By 1990 were we approaching 100+%?

If I'm wrong in my recollection, I'll own it. You?

Welcome to Greece. All you's hanging onto your public retirement "investments" better run for the hills. This clowncarcabal has driven you right off the tracks.

http://www.washingtonexaminer.com/how-mu...le/2560220

Thats a decent graph. Of course when Reagan left office he didn't have this % of GDP because he didn't start anywhere near as high. But he increased the debt by around 189% (highest in modern times) and as the chart shows, the only time that growth slowed significantly was under Clinton (of course helped by the .com bubble and the only Republican congress in recent memory that actually got tough on the budget).

I'm not trying to say Obama has done anything well on fiscal policy. The disaster continues. But the idea that Reagan was some sort of small government hero is an absolute fantasy.

Errr, okay. did you look at your own graph?

As a % of GDP, you still want to compare anything Ronaldus Maximus did to this disaster? Are you old enough to remember the dumpster fire Jimma left in 79-80? In less than 4 years we had the beginning of the largest economic expansion, and the largest job growth in U.S. history.

We also, simultaneously, ended the longest and most expensive war we've ever endured, be it hot or cold.

Economic growth actually works! Amazing, isn't it? Damn shame we havent given it a shot in nearly a decade.

Good luck Grads! Hope that mandated 15 bucks an hour pays the student loans and helps you raise a family... smdh.

Reagan spearheaded the income tax reforms. Volcker enacted the monetary policy that ultimately tamed inflation. Take away one of them and it doesn't work out as well.

This is the very definition of a Rohrschach. The beholder will see what he wants to see. You can show charts that make the Republicans look like heathens and the D's as responsible and you can show the flip side just as easily. What honest people will realize is you care a heck of a lot more about the debt when the party of your adversary holds office. It's been an unmitigated disaster since Reagan and every party kicks the can down the road.

(04-09-2016 11:19 AM)Machiavelli Wrote:  This is the very definition of a Rohrschach. The beholder will see what he wants to see. You can show charts that make the Republicans look like heathens and the D's as responsible and you can show the flip side just as easily. What honest people will realize is you care a heck of a lot more about the debt when the party of your adversary holds office. It's been an unmitigated disaster since Reagan and every party kicks the can down the road.

I can agree with this. This is why the D vs R game is mostly a joke. I'm not so sure that even Trump is going to be any different in the end. One thing I know is based on history we will not notice any difference between whether Hilary, Cruz, Sanders or Kasich is the president. I'm 80% sure that Trump could be thrown in there too. Both parties have robbed the country blind for a long time. You need at least 1 if not more additional political parties to keep everything more honest.

Simple thought experiment. If we had 3 parties that were roughly 33% of the population, and one party held the majority of the offices then more than likely the dominant party would be in a minority position if the other 2 parties combined efforts. Therefore, a majority of the elected officials in the minority parties would care about the debt and thus be a check against the majority party.

(04-09-2016 11:19 AM)Machiavelli Wrote:  This is the very definition of a Rohrschach. The beholder will see what he wants to see. You can show charts that make the Republicans look like heathens and the D's as responsible and you can show the flip side just as easily. What honest people will realize is you care a heck of a lot more about the debt when the party of your adversary holds office. It's been an unmitigated disaster since Reagan and every party kicks the can down the road.

Yep.