--- In FairfieldLife@yahoogroups.com, "Richard J. Williams" <richard@...> wrote: > > Xenophaneros: >> As of January 31, 2012, the debt rose under >> the Bush administration more than had occurred >> under the Obama administration...
Now be careful not to selectively quote. By now, today, the dollar amount of the Obama administration should be about equal to, or higher than what was spent under Bush. I do not know what the figures would be if inflation adjusted, or if the graph I embedded was inflation adjusted. The entitlements (which are in many cases partially paid for by the recipients earlier in their life) are a problem, as for example, they have proved to be in Greece. The blame probably starts with FDR in the 1930's but few politicians have called for reducing or eliminating these as long as they want to keep their job. Every administration selectively quotes data to support their case, and the opponents of those administrations selectively quote the same to refute that case. Every country that has done such schemes eventually seems to get into financial trouble. Entitlements are a pyramid scheme, but there are now so many people at the top of the pyramid, it's starting to show the strain. When the system was started, it was much more workable because so few in the system were at the top of the pyramid. The current budget is spending a hell of a lot, and dollar-wise is the biggest in history. Percentage wise it is a lot less in comparison to the total deficit, but the levels are now so high, however you look at it, there is a problem just waiting for every politician to avoid. Please note I was not using any projected amounts, just what has already happened, and the projected amounts are scary. > The President's media apologists are attempting to > carry water for Obama and shift the blame for the > budget mess squarely at the feet of President George > W. Bush. The fact is, entitlements, Social Security, > Medicare, and Medicaid, are driving the deficits. > > <http://tinyurl.com/3uepa8b> > 'The Truth about Obama's Budget Deficits, in Pictures' > http://tinyurl.com/3uepa8b <http://tinyurl.com/3uepa8b> >
