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50% Tax Rate
Message
From
08/04/2010 12:16:22
 
 
To
08/04/2010 11:39:03
General information
Forum:
Politics
Category:
Taxes
Title:
Miscellaneous
Thread ID:
01458965
Message ID:
01459365
Views:
46
With the exception of the Obama's first year those figures seem to bear Mike out.
Clinton was the only Democrat president wasn't he? Looks like he made a huge step in reducing the increase - only for it to pile back on under the subsequent Republican presidencies.

Also I don't think anyone disagrees that things were in a bit of a mess when Obama took office. Arguably he inherited the problem. Also arguably it might have been worse if the Republicans had won.

Any link to the Obama admistration predicting a 6.5 trillion deficit?



>Or let the national debt grow. Of course, that normally only happens during Republican administrations.
>
>What planet are you living on?
>
>The numbers below do NOT reflect the actual National Debt. Instead, they reflect the amount of the INCREASE in the National Debt during each presidential term.
>
>> Ronald Reagan’s First Term – $656 billion increase
>
>> Ronald Reagan’s Second Term – $1.036 trillion increase
>
>> George H.W. Bush’s Term – $1.587 trillion increase
>
>> Bill Clinton’s First Term – $1.122 trillion increase
>
>> Bill Clinton’s Second Term – $418 billion increase
>
>> George W. Bush’s First Term – $1.885 trillion increase
>
>> George W. Bush’s Second Term – $3.014 trillion increase
>
>> Barack Obama’s First “Year” – $1.573 trillion increase
>
>To summarize, the National Debt increased by huge amounts under each of these presidents. The largest increase for a complete term occured during George W. Bush’s second term. The largest increse during a single year occurred during Barack Obama’s first year.
>
>Current Obama administration projections indicate that the National Debt will increase by approximately $6.5 trillion during President Obama’s first term. If that happens, then he will obviously overtake President Bush’s record increase in the National Debt.

>
>It is clear that the National Debt has been growing uncontrollably in recent years, regardless of which political party has been in power. To reverse this trend, we need to hold our elected officials accountable and demand that they balance the budget and reduce the National Debt.
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