National Debt hits $10 TRILLION under Bush

When Bush took over in 2001, 225 years of National Debt totaled $4.5 Trillion. Eight years later, it had more than doubled to over $10T.

And this is *before* the massive $700B bailout of Wall Street.

ONLY Republican Presidents have added to the debt since 1976.

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[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.

[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.

[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 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 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!!

[phantomlord54]

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

[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.

[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.