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-   -   Who Do You Blame For The Current US Debt? (https://gfy.com/showthread.php?t=1132896)

crockett 02-06-2014 07:18 PM

Quote:

Originally Posted by Vendzilla (Post 19972910)
800 billion dollar stimulus package for shovel ready jobs ring a bell?

Guess you forgot about the Bush bailouts...

Here I will remind you...

Bush bailed the banks out as he enacted the TARP program.. Just like always the can was kicked to the next president..

Quote:

The TARP program was created in 2008 to stabilize the financial system. The Treasury Department has committed more than $500 billion to more than 800 firms through the program. While Mr. Obama did not enact TARP, his administration has largely been responsible for administering it.
Since we are using CBS.. http://www.cbsnews.com/news/more-ame...ts-poll-shows/

Funny how you guys seem to forget that little fact.. Just like you forget the first year of a newly elected president uses the already approved budget of the last. ie first year debts are from the president whom last sat in office,,,


Then of course even more bailouts from Bush.. Yes the auto industry as well.

Quote:

?I didn?t want there to be 21 percent unemployment,? Bush told the 22,000 attendees. ?Sometimes circumstances get in the way of philosophy.?

?I said, ?No depression.??

In his memoir he said the move was ?the only option? to avert immediate bankruptcy of Chrysler and GM and the loss of a million jobs and $150 billion in tax revenues.
http://www.washingtonpost.com/blogs/...DPBR_blog.html


I know, I know.. Just stick your head in the sand Vend as surely your head will explode if you had to admit the truth..

Matt 26z 02-06-2014 07:35 PM

Quote:

Originally Posted by Vendzilla (Post 19972914)
The feds are still printing up 85 billion a month, it's not working

You and everyone else would be in line at your local high school gym for free food if it wasn't working.

OneHungLo 02-06-2014 10:01 PM

http://i.imgur.com/rQhpo0q.gif

black1000 02-07-2014 05:15 AM

This short and important film should answer all questions:
https://youtube.com/watch?v=iFDe5kUUyT0

tony286 02-07-2014 05:23 AM

Quote:

Originally Posted by Wizzo (Post 19972868)
Of course it is as he's the current President, and the President that held the record before Obama was Bush43, then before Bush43 it was Clinton, before Clinton it was Bush 41 and would bet that the next president regardless of party will beat Obama.

They all contribute to the snowball of debt and with each president regardless of party it increases. ALL fucking crooks whether they are giving it to insurance companies or defense contractors the system is broken thanks to political parties.

I stand up and applaud you Sir.

tony286 02-07-2014 05:25 AM

Quote:

Originally Posted by Joe Obenberger (Post 19973048)
Robbie, you're a good guy. I like you. And I don't want to get into an argument with you and won't.

But you badly misunderstand rural electrification and World War II, both.

There were few, if any, rural electric companies. " Private utility companies, who supplied electric power to most of the nation's consumers, argued that it was too expensive to string electric lines to isolated rural farmsteads. Anyway, they said, most farmers, were too poor to be able to afford electricity." So, the US Government established electric co-operatives, lent them money to build dams, acquire generators, and wire the long paths to farms. You can read about it many, many places, including http://newdeal.feri.org/tva/tva10.htm. This all happened before you and I were born, and so no one can find fault in your contrary understanding. I don't.

My understanding is different, too, regarding World War II. At least when I was growing up in the Sixties and Seventies, World War II had not yet been paid for. We were still paying the interest on those Liberty Bonds and other borrowed money, and World War II marked, as I understand it, the first acceptance in US History, that large debt should be amortized to future generations. Google indexes what people say, and the value of what its index leads to varies. Google does not vouch for the truth of what it indexes. That anyone can find a quote online to support a proposition certainly does not prove its truth, as I 'm sure that you would agree. That particular quote seems unusually suspect to me, and that's no reflection on you. You weren't there and did not live through it. I'm older than you, but I didn't live through it either. We both judge by what we've read, and I must tell you that all of the information I've seen aside from your quote provides the exact opposite conclusion.

Robbie, if you want to talk about this more, email me. I'm not going to fight about these issues here.

Samething with the internet without gov funding there would be none. Companies didnt see it.

CurrentlySober 02-07-2014 05:28 AM

i blame baddog...

OldJeff 02-07-2014 06:23 AM

Quote:

Originally Posted by CurrentlySober (Post 19973448)
i blame baddog...

Make about as much sense as blaming Bush, Regan, Clinton or Obama. As Wizzo said, it is the broken system.

Lawmakers win elections by bringing as many handouts to their districts corporate, or social makes no difference. When the money for these handouts is not available, they "borrow" it

We have been kicking the can down the road for my entire life, and I don't see it changing till the whole thing goes pop.

Robbie 02-07-2014 10:49 AM

Quote:

Originally Posted by tony286 (Post 19973444)
Samething with the internet without gov funding there would be none. Companies didnt see it.

I think you mean THE MILITARY funding it.

They wanted something that they could communicate with while killing people worldwide...er, I mean "DEFENDING OUR FREEDOM".

You always leave that out of your talking point Tony.

It was the MILITARY that first paid a company to develop what LATER became the internet thanks to private companies who saw a different use for the technology.

Robbie 02-07-2014 10:51 AM

Quote:

Originally Posted by OldJeff (Post 19973500)
Make about as much sense as blaming Bush, Regan, Clinton or Obama. As Wizzo said, it is the broken system.

Lawmakers win elections by bringing as many handouts to their districts corporate, or social makes no difference. When the money for these handouts is not available, they "borrow" it

We have been kicking the can down the road for my entire life, and I don't see it changing till the whole thing goes pop.

Good post OldJeff. :)

whOaKemosabe 02-07-2014 10:53 AM

i blame harmon and his mother

Vendzilla 02-07-2014 11:29 AM

Quote:

Originally Posted by Matt 26z (Post 19973192)
You and everyone else would be in line at your local high school gym for free food if it wasn't working.

So what happened to that $85 billion a month ? $1 trillion total ? that the Fed has pumped into the financial system over the past year?

"It all got bottled up in the banks, and essentially none of it ... got lent out," Blinder says.

http://www.npr.org/2013/12/17/251796...llion-question

So I call Bullshit on your statement

Sly 02-07-2014 11:41 AM

http://www.quickmeme.com/img/29/29d4...99984c42d0.jpg


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