National Debt hits $10 TRILLION under Bush

[Charlie12241]

We can't afford to be in war anymore.

[BI30]

@kilox10001 Keep in mind that both of Bush's wars AND the tax cuts are still in place (thank you GOP), so it should come as no surprise that the rate of debt is the same.

[BI30]

@kilox10001 Slight caveat: I think blaming Obama for our economic mess makes as much sense as people that tried to give Bush credit for killing bin Laden.

[Fashionificationful]

Hillary Clinton is being preened to take President Maobama's place. Both Obama and Hilary answer to George Soros who contributed to both and who has the mainstream media in his back pocket. He gets Obama to take the Country to extreme socialism passing treasonous legislation against the will of the American people, then gets Hillary in office. Our dollar is on the verge of collapse, and our sovereignty is threatened as a direct result of legislation and lack of leadership.

[BI30]

@Fashionificationful "Maobama"? Teanuts live in their own Fantasyland. Obama has bailed out Wall Street, the stock market that was 7500 when he took office is knocking on 12,000 two years later, and he just agreed to massive budget-busting tax cuts for the Top 2%. And if "George Soros" were HALF as involved in politics as Rupert Murdoch, MSNBC would be bigger than FOX.

[phantomlord54]

@BI30 A stimulus plan that was an abysmal failure, unemployment well above where he said it'd remain, nearly 5T in new debt, green fraud, amnesty and free everything for illegals, no clear strategy for Iraq and Afghanistan, bowing to foreign leaders left and right, no close of Gitmo, on and on.. as for the stock market getting to 12,000?? Companies have realized they are much more cost-efficient with fewer employees!! It's not because of anything he did!! YOU are in a fucking fantasyland!!

[BI30]

@phantomlord54 Let's talk about "Fantasyland". More than a third of the Stimulus, $288B, went to extend the Bush Tax Cuts for another two years. Less than that, $275B, was SPLIT among "jobs, business loans and grants". The big failure here is the continued belief "tax cuts create jobs" and that was the best use of those funds. Clearly, it wasn't. And Republicans are fighting to keep tax breaks for companies that ship jobs overseas. Obama's biggest failure has been going along with that nonsense.

[phantomlord54]

@BI30 "Tax cuts don't create jobs" ...as opposed to what?? Tax increases!! create jobs?? Grow a fuckin' brain dude

[BI30]

@phantomlord54 No, "DEMAND" creates jobs. And here's where having a brain comes in handy: If you RAISE taxes on the *PROFITS* of corporations*, they REINVEST that money back into the company rather than pay income taxes on it. They buy machinery, hire new employees and raise wages. But when you CUT taxes on those profits, they POCKET the money, give huge CEO bonuses, or dump it into the stock market where it benefits no one but themselves. Yes, RAISING taxes *on corporations* CREATES JOBS.

[phantomlord54]

@BI30 So I'll just take your ridiculous argument to its conclusion: let's go ahead and tax these corporations at 100 PERCENT!!! That should leave them PLENTY of money to go out and, as you state, "reinvest" in themselves, rather than, again, as you state, "pocket" THEIR OWN money!! - imagine that - or "dump it into the markets", where, mind you, it truly WOULD be reinvested and benefit plenty of people - namely their shareholders. If a brain comes in handy go out and BUY one you fucking moron

[BI30]

@phantomlord54 If you don't understand "marginal tax rates", you probably shouldn't be lecturing anyone on the subject of taxes. To simplify things, pretend for a moment we had a 50% marginal tax rate on anyone making more than a million dollars, and you make $1,000,001. How much more in taxes do you pay than the guy making $1,000,000? Answer: 50cents. Pardon me why I cry over your increased burden. And money made in the Market doesn't help the economy until it's spent OUTSIDE the Market.

[BI30]

@phantomlord54 Addendum: Obama has not given "illegals" free anything. Deportation is up. Illegal immigration is down. The last president to give illegals anything was Reagan, who gave amnesty to 10mil. On Iraq, we're getting out of there (vs "100 years" McCain). The "bowing left & right" stupidity is just that. He gave a *slight* bow once to the leader of a country where they don't shake hands. Heaven forbid our leaders show respect for another culture.

[phantomlord54]

@BI30 Obama would gladly give free anything to illegals; crossings are down because UNEMPLOYMENT is up!!; Reagan GRUDGINGLY signed a Democratically-led amnesty bill for THREE million - not 10 - as part of an experiment that turned out to fail; we just had our deadliest month in Iraq (June) in 2 years despite the fact that we're, as you say, "getting out"; he bowed both to the Saudi King and Japanese Emperor in which his back was nearly PARALLEL to the floor - watch the FUCKING video you dope!!

[Fashionificationful]

Clinton didn't leave a $5.6 Trillion surplus but a $1.4 trillion debt over eight years. He borrowed from Social Security, part of a $115 Trillion unfunded liability, to make it seem he left a surplus. See my about me for links. The Debt Clock should be adjusted increasing the national debt from $14.0 to $21 Trillion and reducing our unfunded liabilities by $7 Trillion to reflect the truth about Clinton.

.

Allen West 2012

[BI30]

@Fashionificationful ANOTHER Conservative that doesn't understand the difference between "debt" and "deficit"? (see user "FreedomInAmerica") While Clinton DID add to the National Debt, his final two budgets left a "surplus". Bush/Cheney 2000 campaigned on "tax cuts" on the grounds the "surplus" was "not the governments' money, that's YOUR money!" So instead of paying off the National Debt, we have Teabaggers today screeching over the size of the Debt.

[Oktoberfesting]

The debt when George W. Bush took office was $5.727 Trillion when he left it was $10.627 Trillion. The total debt that George W accumulated in eight years of office is $4.9 Trillion The debt right now is $13.736 Trillion. In approximately 666 days in office, he has accumulated $3.066 Trillion. Using simple algebra you'll find by Dec 2011, Obama will have accumulated more debt in three years than George W. did in 8 years.

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Allen West 2012

[BI30]

@Oktoberfesting This EXACT SAME "factoid" was posted to another video of mine, and I will tell you what I told them:

First, the first years' budget of any administration was written by the PREVIOUS administration, so it should come as no surprise the first years budget was so big.

Second, OBAMA'S first budget, 2010, was actually $400 Billion dollars LESS than Bush's last.

Third, Bush didn't put the wars on the budget. Obama did.

Fourth, the "666 days" figure is nonsense. 2 years = 730 days.

[Oktoberfesting]

@BI30

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666 day figure I got from day I got the actual debt from debtclock org -inauguration day.

[UCABearBone]

American's please stop pointing the finger at which president caused the debt. They are not even the one's in control. As a matter of fact, the Federal Reserve isn't even a part of our government. So the real people you should pointing your finger at, is the Reserve Bank. ie "Goldmann Sachs" "AIG", etc. As soon as we get off of the Democratic, Republican fad, that sooner we can target the source of our problems. Let us live in peace and harmony, do not let this dem, rep. illusion cloud your mind

[CalicoatMaker]

I guess you dont know the difference between the debt and the deficit.

Guess who controlled congress in 2006-2010? DEMOCRATS.

The PRESIDENT doesnt rule like a king and make a budget. The CONGRESS approves it.

If you blame a president and not congress; obama has already spent many more times than bush, where is your 'obama' video? Hmm? Oh, you like him, so its ok when democrats spend like drunken sailors.

[BI30]

@CalicoatMaker Not sure who your comments are directed to, but if it is me, I'm well aware of the difference between the Debt and Deficit. The Democrats didn't regain control of Congress until January of 2007. By that point, the Republican Congress had already increased the Debt from $5T to just over $9T. The cost of two wars and (mostly) the Bush Tax Cut for the wealthy added another $3T to the Debt. Do you blame Democrats for continuing those expenses?

[kevrs2]

if the government are so powerful , (as they try and make us believe they are) whats to stop them just saying you know what, you ain't getting it ,were writing it off,now go and do what you like because you ain't getting a penny ,i think you would find the president becoming a hero overnight ,..but that would be too easy:)

[BI30]

@kevrs2 Indeed, that would be "too easy". You can't do that. That's not the way the Debt works. :)

[La1930CosaNostra]

I got a solution! Apply for a Citibank Gold Mastercard and pay 0% interest on balance tranfers for the first 6 months! Some things in life are priceless... For everything else - There's Mastercard!!! Terms and conditions apply.

[CalicoatMaker]

@La1930CosaNostra lololol that was great

[Ray21C]

Obama has spent more money on new programs in nine months than Bill Clinton did in eight years, pushing the annual deficit to $1.4 trillion.

[CountryFirst995]

americas gonna die under its own weight. mybeloved country is doomed. but if it does during my lifetime i will start my own.

[kcjenner1]

The expressing this made me think of was "Break the Bank", but for this I'd say "Bush Broke the (Debt-)Clock" and NOT in a good way.

[1happiness]

$10 Trillion $10,000,000,000,000!! Capitalism is under great challenge..

[CrackerXZ]

America isn't capitalist, it's a mixed economy with a little smaller public sector than most European nations.

[CalicoatMaker]

@CrackerXZ Not in Wisconsin. Wisconsin has MORE government employees than the private sector. True. Shocked me, too. The city of Milwaukee alone has 881 MILLION dollars in pensions to pay government retirees every year, but the democrats are lying in TV ads about the treasurer, who had to borrow 400 million to pay it, but did so at low % rate instead of a 15% Municipal bond, so he SAVED the city money. barrett is SO DOOMED in november, and the crook Doyle isnt running again. GTFO DEMOCRATS!

[Darkartwarlock]

lol dident even know we had one till today

[epiphany4z]

sigh.........

[Mansonfan9999]

I can't help but find this mildly amusing.

[sexdrugsRnR]

i wonder how much the new clock is gona cost..