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Mon Nov 19, 2012, 09:42 AM

Check out what the GOP doesn't want you to know about the deficit - The truth

http://www.huffingtonpost.com/2012/09/05/republican-party-deficit_n_1858295.html

Check out what the GOP doesn't want you to know about the deficit

The Huffington Post | By Bonnie Kavoussi
Posted: 09/05/2012 5:40 pm
Updated: 09/05/2012 5:40 pm

The Deficit Has Grown Mostly Because Of The Recession

The Stimulus Cost Much Less Than Bush's Wars, Tax Cuts

The Deficit Grew Under George W. Bush

The Deficit Is Shrinking

Investors Are Paying Us To Borrow Money

Investors Are Not Running Away

Health Care Reform Reduces The Deficit

The U.S. Is Borrowing Less From China

We Spend A Lot On Defense

We Spend A Lot On Health Care

Republicans May Want Large Deficits For Now


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Arrow 14 replies Author Time Post
Reply Check out what the GOP doesn't want you to know about the deficit - The truth (Original post)
NNN0LHI Nov 2012 OP
brush Nov 2012 #1
Rain Mcloud Nov 2012 #2
santamargarita Nov 2012 #3
louis-t Nov 2012 #4
Myrina Nov 2012 #5
PDJane Nov 2012 #6
xtraxritical Nov 2012 #10
bossy22 Nov 2012 #12
hfojvt Nov 2012 #7
ProudProgressiveNow Nov 2012 #8
EC Nov 2012 #9
amborin Nov 2012 #11
MJJP21 Nov 2012 #13
Martin Eden Nov 2012 #14

Response to NNN0LHI (Original post)

Mon Nov 19, 2012, 10:13 AM

1. Thanks

Good post. As you point out, the repugs have not been forthcoming about the deficit, especially about how the majority of it came from Bush's wars (kept off the books) and the tax cuts for the rich. I even remember Chaney declaring back then that "deficits don't matter."

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Response to NNN0LHI (Original post)

Mon Nov 19, 2012, 10:34 AM

2. As usual

 

They made the mess and now they want the adults to clean it up.
What would you expect from spoiled rotten children who have never been told no and never been accountable for their actions.

Reminds me of a song from my brief days in college which i felt described the Reagan era frat boys of the time to the teeth:


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Response to NNN0LHI (Original post)

Mon Nov 19, 2012, 10:46 AM

3. You can't go one day without some Republican...

asshole running around with his hair on fire. When we are in office everything is a scandal, during Bush Hell, you never heard a peep out of that bunch!

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Response to NNN0LHI (Original post)

Mon Nov 19, 2012, 10:53 AM

4. * said he would cut the deficit in half in 5 years.

Instead, he tripled it.

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Response to NNN0LHI (Original post)

Mon Nov 19, 2012, 11:10 AM

5. Darth Cheney: "Deficits Don't Matter"

'nuff said.

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Response to NNN0LHI (Original post)

Mon Nov 19, 2012, 11:17 AM

6. Most of the stated debt is owed to Americans,

including the social security fund. The Republicans are trying to get out of paying the debt owed to the citizens of the United States.

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Response to PDJane (Reply #6)

Mon Nov 19, 2012, 11:42 AM

10. Also, what does this mean? "Investors Are Paying Us To Borrow Money". I never heard of that.

 

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Response to xtraxritical (Reply #10)

Mon Nov 19, 2012, 12:16 PM

12. it has to do with the "real" interest rate

the real interest rate is calculated by taking the nominal rate (the actual number) and subtracting the inflation rate. so this is what you get, the 10 year bond interest rate - inflation which is about 1.5%-2%= -0.5. So investors are actually losing "real" value on their money if they invest in the 10 year treasury bond.

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Response to NNN0LHI (Original post)

Mon Nov 19, 2012, 11:26 AM

7. How about "Obama inherited a $1.2 trillion deficit from Bush"

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Response to NNN0LHI (Original post)

Mon Nov 19, 2012, 11:36 AM

8. K&R nt

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Response to NNN0LHI (Original post)

Mon Nov 19, 2012, 11:38 AM

9. Also projected to go down

40% at end of year. (Bush tax cuts expire)

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Response to NNN0LHI (Original post)

Mon Nov 19, 2012, 11:46 AM

11. ny times: Bush tax cuts and the war caused the deficit; grew hardly at all under Obama:

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Response to NNN0LHI (Original post)

Mon Nov 19, 2012, 12:27 PM

13. The US

doesn't borrow from China nor Russia nor any other country despite what this post and many tv and radio personalities say. The US prints its own money . If needed it gets it from the FED. Who is the FED? It is us. There isn't a country on the face of the earth that can foreclose on the US. To make it simple our system is much like a monopoly game. If there isn't enough money in the system you can't play the game . If there is too much the govt can tax it out.

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Response to NNN0LHI (Original post)

Mon Nov 19, 2012, 08:34 PM

14. "Republicans May Want Large Deficits For Now"

Actually, Republicans NEED large deficits to implement Grover Norquist's agenda for shrinking government to a size that "can be drowned in a bathtub."

Rightwing conservatives are ideologically opposed to Social Security, Medicare, and the social safety net in general ... but they know these programs are popular and will not be legislated away on the basis of rightwing ideological arguments. Social Security, Medicare, etc won't be eliminated as long as there is funding to keep them going.

Large deficits are essential to the Republican agenda. The goal is to make these programs unaffordable.

It's easy to think of the huge deficits left by GOP administrations as incompetence, but think again. I think it may very well be intentional.

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