$20 trillion man: National debt nearly doubles during Obama presidency

Discussion in 'Politics Discussion' started by baudwalk, Nov 1, 2015.

  1. baudwalk

    baudwalk Senior Investor

    May 2015
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    It seems to me the last gold and silver commercial I paid attention to pegged the deficit at $18T. $20T? So much for the liberal loons preaching "we have a balanced budget..." Good grief. And we have others saying "everything free"? Yep! Let's go. Ridiculous! Sen. Mitch McConnell and Rep. John Boehner sold us down the river while the conservative Republicans jumped the shark into dry land and safety. Nuts.
    Last edited by a moderator: Jul 8, 2016
  2. JR Ewing

    JR Ewing Super Moderator Staff Member

    Feb 2014
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    Before the libs chime in with "It's all Bush's fault!", I will concede that roughly half of the debt was accumulated before Obama took office. But of course the debt that has accumulated in the last 7 years has piled up in a zero-interest rate environment, and it has largely been on a number of domestic govt entitlement expansions - while the fed govt's actual job of national defense has been cut to the bone.
  3. ScooterBrandon

    ScooterBrandon Senior Investor

    Jun 2015
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    I notice that ALL governments spend way more then they say they are, regardless of political affiliation.
    The conservatives here in Canada wereall talk when it came to our debt, they put us into just as much debt as the left-wing parties.
    But instead of spending they just introduced "tax breaks or credits", which essentially isn't much different, it's still just trying to buy votes.

    One commercial the Conservative party ran during the election was just too much. The start talked about how the other parties were spend spend spend and we are not, then they went on to talk about a whole bunch of tax credits they were planning to give out. Bureaucrats and politicians just love spending our money!

    The only Canadian politician who was against government excess was Mr. Rob Ford, who's personal life was thrust into the spotlight because the other poltiians wanted him out so they could start the spending spree all over again.
    I really hope he kicks cancer's ass, then comes back to save Toronto from this non-sense.

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