Originally Posted by RedHorseRidge
Perhaps because the current administration has cut deficits and slowed spending to its lowest level in 50 years? It was Obama who signed the Pay-As-You-Go-Act in 2010 (which mandates any new spending be offset with spending cuts or new revenue).
Slowed spending? Where?
I did rather well in Mathematics, but it has been 30 years since I was in college, so maybe a refresher course is in order.
Let's see in the History of the USA, all
Presidents acquired a National Debt of 10 Trillion Dollars.
January 2009 is the date Obama inherited a National Debt of 10 Trillion Dollars.
Today the National Debt is 16.512 Trillion Dollars (4 years 1 month later) 65 % increase
I flunked Rocket Science, but of course this is only 5th Grade Math
So in case my math is off, let's see what USA Today has to say: Column: Obama owns the debt now
RHR you can Spin all you like, but facts are facts..... We have a spending problem and we have a man at the wheel that cannot fathom the long term repercussions of borrowing 42 cents of every dollar from China and others, of course we have millions of other people who are just as blind as Obama.
When Interests rates start going up, we could very see well over 50 cents of every dollar in borrowing.
The proposals being floated around about reducing tax deductions for Mortgage Interest will hurt low and middle income earners profoundly.
Reducing tax deductions for charities will hurt the income something terrible, soup kitchens, goodwill, church's, etc. will devastate those that really need help.. the poor.
Raising Taxes during a recession is the dumbest thing that can be done, as of Jan. 2013 low and middle Income families have had taxes rise. And now more talk of raising Taxes? Not Dumb, Pure Ignorance!