Text 32494, 96 rader
Skriven 2016-04-13 18:23:11 av Ward Dossche (2:292/854)
  Kommentar till text 32474 av Gregory Deyss (1:267/150)
Ärende: Re: Belgium Releases Terrorist
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Hi Greg,
 
GD> Lets examine that President Obozo has racked up more debt than every
GD> single U.S. President before him COMBINED.
 
There is no way you can substantiate that with credible evidence, simply
because it isn't there.
 
When you read some figures, you have to understand what you're reading.
 
For example, we know who was Prez in 2011. That's when the full brunt of the
9/11 attacks clearly started showing-up, it took 10 years for that to happen.
 
Further, There was the "Income Tax Cut" of 2001. It increased the US debt, by
$1.35 trillion over a 10-year period. These tax cuts benefited families with
children, and those with incomes over $200,000, the most. The 2001 Tax Cut was
designed to expire in 2011. Little did the originators know that this stimulus
would end when the economy was still struggling to recover from the worst
recession since the Great Depression.
 
And we know who was President in 2001.
 
Then there was the "Business Investment Tax Cut" of 2003. Oh Boy.
 
Like any other tax cut, thisone also did hurt the economy by decreasing tax
revenues. This increases each year's annual deficit, and therefore the U.S.
debt.  In fact, the debt doubled as a reult of the Bush Administration, to
$11.6 trillion, both from lower tax revenues and higher defense spending.
 
You wanna go to war? Someone's gonna pay for it and it ain't me.
 
President Bush's tax cuts should have expired in 2004 or 2005, when the economy
was booming again. Higher taxes would have slowed spending, helping to prevent
the housing boom that led to the 2008 financial crisis.
 
Unfortunately, it was designed to expire in 2008. The newly-elected Obama
Administration and Congress, faced with the Great Recession, had to extend it
until 2010. The tax cuts were extended again until 2012 as part of the deal to
avoid the Fiscal Cliff. They now have no expiration date.
 
We all know who was President in 2003.
 
Finally, the "Income Tax Rebate" of 2008.
 
Everyone got tax relief on the first $6,000 of taxable income for individuals
and the first $12,000 of income for couples. People received a cheque in the
mail, which felt like free money.
 
You really believe that? "Free" money? Someone always has to pay.
 
Each rebate dollar spent generated $1.19 in additional economic growth. The
one-time rebate was a little more than 1% of GDP, which should have been enough
to boost economic growth. Unfortunately, the collapse of Lehman Brothers,
Fannie Mae, Freddie Mac and AIG later that summer destroyed confidence in the
global banking system. This negated any positive effect of the tax rebates, and
plunged the U.S. economy into five quarters of recession ... during the Obama
administration ... not caused by the Obama administration.
 
Perhaps most important, the tax cuts weren't balanced by a decrease in
government spending. This led to a $500 billion budget deficit. By the time
Bush left office, the Federal debt was already $10 trillion. This contributed
downward pressure on the dollar, which leads to higher oil prices and inflation
over the long run.
 
And we all know who was the President in 2008.
 
During Obama's tenure there may have been a deficit rise. But what caused? More
importantly "who caused it?
 
Gimme a "B"
Gimme a "U"
Gimme an "S"
Gimme an "H"
 
What's that spell? ......... I'll let you figure it out.
 
GD> Obamacare; Affordable Care Act... is not very affordable.
GD> "If you like your doctor you can keep em." - turned out not to be the
GD> case.
 
You should be ashamed to even raise that item.
 
As the so-called leader of the free world, the beacon of democracy, the shining
example of a near-perfect society, it is deplorable that the US for as long as
anyone can remember has the worst track record possible in offering universal
health care for its citizens.
 
If you don't understand what I decently tried to explain to you above, you
shouldn't be discussing it.
 
Take care,
 
 \%/@rd

--- D'Bridge 3.99
 * Origin: Many Glacier -- Protect - Preserve - Conserve (2:292/854)