The Big Economic Lie

[kentuck]

"It's only a small part of the GDP."

Since the day Ronald Reagan was sworn into office in January, 1981, our country has run up almost $8 trillion dollars in debt. The only Democrat we have had in that 28 years was Bill Clinton. He was the only President to actually cut spending and the only one to balance the budget and pay down the debt for the last 3 years of his Presidency.

To put it into perspective, thru the Revolutionary War, the Civil War, the two World Wars, the Great Depression, FDR, LBJ, the Great Society, and Jimmy Carter, our national debt was less than $1 trillion dollars. In 28 years, we have gone into debt $8 trillion dollars more!

While the present occupant has been in the White House, we have added almost $4trillion to that debt. And, unlike in the past when we said we "owed it to ourselves", that is no longer true. We owe most of it to foreign governments, like China, Japan, Saudi Arabia, Great Britian, etc.

For the longest time, the Republicans have made themselves feel better by saying, "it's only a small part of our GDP". As if it were so miniscule that it didn't really matter? Now we are finding out that it does matter. Our dollar is sinking like a rock. The stock market is about to shake off its foundation. Some nations are talking of switching to the Euro. Our nation is very nervous about a recession. Perhaps a very severe one?

The debt does matter. Deficits do matter, contrary to what Dick Cheney might say. We are stuck between a rock and a hard place and most of it is due to the false theories of the Republican Party and the supply-siders that were born under the Reagan Presidency. The "small part of the GDP' is a cruel lie and a cover-up to the biggest heist ever perpetrated on a people in the history of the world.

[KoKo]

1. Welll said....and Hank Paulson is on now spreading lies about how our

manufacturing base is bigger than China, Bigger than Japan. You've gotta wonder at his panic. He also said "contrary to belief" our "service jobs" are "highpaying not the low wage jobs you hear about." He was replying to reporters asking questions about the Chimperor's Economic Stimulus Package in a Presser just now. Scrambling to keep their "Supply Side Titanic" from finally going down as the hunk of junk it always was.

[Quantess]

2. Well said!

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