--- In FairfieldLife@yahoogroups.com, "Xenophaneros Anartaxius" <anartaxius@...> wrote: > > --- 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.
Nicely put..right on!
