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Fiscal Reality

The Shrubbery has the gall to talk about the Dems being “teenagers with a credit card.” Let’s take a look at his bill. We have a national debt is excess of $9 trillion [ $9,000,000,000,000]. If it were all at 4% annual interest that would be $360 billion in interest per year. At 5% it is $450 billion dollars per year, while the Defense budget [without the wars] was $459 billion dollars this year.

We were beginning to pay down the national debt during the Clinton administration and the Hedgemony with the rubber stamping Repubs in Congress went on a 6 year spending spree. Somehow the fact that they have plunged this nation into unconscionable debt doesn’t bother the GOP. They will say “but the war” and the fact is, earlier Presidents raised taxes when the country went to war to pay for them.

You can’t trust the GOP with your credit card or your check book.

3 comments

1 Michael { 11.15.07 at 12:20 am }

You can’t trust the GOP. Full stop.

2 Michael { 11.15.07 at 12:22 am }

The anti-democratic party couldn’t win elections if they were honest.

3 Bryan { 11.15.07 at 12:47 am }

Bill Clinton was gradually downsizing the US government. If you look at the Bureau of Labor Statistics site it is obvious that the government was getting smaller, and Al Gore was pursuing government efficiencies and getting rid of a lot of unneeded regulations and massive amounts of unused equipment and supplies. It was easier for people to get what they needed from local suppliers without going through the entire unnecessary, government process.

Cutting taxes is nice, but you have to cut costs first. If you cut your revenue and then increase your costs the deficit is an obvious result. The supply-side model doesn’t work. Reducing taxes has never increased revenues at the tax rates in the US system. It might be beneficial with marginal rates at 60%, but we already know it doesn’t work with the US system.

This is all smoke and mirrors, a Ponzi system, and a destructive of the national economy.