On 11/01/2012 11:06 AM, lelandj wrote:
A lot of the Obama Deficit was due to a couple of Bush era events:
1) The tax policies enacted during the Bush years to lower taxes,
especially on the wealthiest 2% of Americans, who really didn't need the
gift: The tax cuts to the wealthiest 2% of Americans did little, if
anything, to stimulate the economy; because, the increased demand for
good and services in this group was much smaller proportionally, dollar
for dollar, than the demand created in the remaining 98% of working,
middle class and poor Americans.
2) The housing bubble created during the Bush years, which concealed
the true state of the USA economy: When the housing bubble burst,
trillions of dollars in wealth were vaporized into thin air. This
required President Obama, and his administration, to take immediate,
drastic measures, in the form of stimulus, to prevent a collapse of our
country, and to contain the contagion effect on the rest of the world.
Hi Leland,
I told you you needed drugs, and you just drank more Kool-aid.
Obama's promise was specific - he said he would cut the deficit, and he
hasn't. Not only that, the "stimulus" also went to people who didn't
really need it - who invested in China when they didn't just put it in
their foreign currency retirement funds, with a negative effect on jobs.
On 11/01/2012 09:32 AM, Michael Oke wrote:
Step away from the kool-aid Leland.
Video of Obama promising to cut the Bush deficit in half in his
first term. We know what he did instead.
http://www.youtube.com/watch?&v=gsa4uLmTw0M
More content in it as well.
8 years of Bush resulted in the greatest USA economic calamity since
the Great Depression of the 1930s. 4 year of Obama has turned that
around, putting the USA on a path to steady recovery with prospects
of a booming economy right around the corner.
--
Regards,
Pete
http://pete-theisen.com/
http://elect-pete-theisen.com/
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