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| subject: | The debt |
MM> Household analogy to US Debt:
MM> Remove 8 zeros from the US numbers for the mythical Jones
MM> family. This year, the Jones family spent: $38,200
MM> Total family income: $21,700
MM> New debt added to the credit card: $16,500
MM> it doesn't include about $1,000,000 (scaled down by eight
MM> zeros) in future promises for Social Security and Medicare
MM> in excess of the future taxes for Social Security and
MM> Medicare. That's how truly profligate Obama, Bush and the
MM> rest of the idiots in Washington, D. C.
Obama has very little to do with that. He inherited a debt of
nearly $12 trillion dollars. And a collapsing economy.
The Jones family didn't just have an income of $21,700, Mr Jones
lost his job, and Mrs Jones is the only source of income now.
Their $38,200 in spending is for bills already incurred. It's
borrow or go bankrupt.
Oh, and Mr Jones lost his job because his predecessor was
corrupt and lied to his stockholders, over extended the
company, and made deals with company suppliers who ripped off
the company seven ways from Sunday.
This BS about both parties are responsible is the way the
confrontation avoiders get around putting the blame where it
belongs, on the republicans.
Remember, the debt load went down from the end of WWII to 1981.
When Reagan took office in 1981 the debt load started back up.
Obama inherited a debt load of nearly 90% of GDP. 100% of the
debt load increase from WWII that Obama inherited came under
three anti-tax republican presidents. Reagan/Bush I/Bush II.
Never forget that.
Obama has been too weak in dealing with the republicans, IMO.
That doesn't change the fact that the current economic problems
are the result of the Bush administration corruption and
incompetence.
MM> fw: from a facebook post
BOB KLAHN bob.klahn{at}sev.org http://home.toltbbs.com/bobklahn
... Let the flames begin! (Atlanta Olympics opening line)
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