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50% Tax Rate
Message
From
08/04/2010 15:13:11
 
 
General information
Forum:
Politics
Category:
Taxes
Title:
Miscellaneous
Thread ID:
01458965
Message ID:
01459391
Views:
53
>>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.
>>
>>So Obama is trying to put out the fire by pouring gasoline on it. Sounds like plan to me.
>
>Isn't he continuing what Bush started. If not what was the Republican plan that wasn't implemented?
>
>>Any link to the Obama admistration predicting a 6.5 trillion deficit?
>>
>>http://thenationaldebtcrisis.com/the-national-debt-by-president/
>
>I've no idea what the provenence of that site is - but it contains no more information than you already gave...
>The table here: http://en.wikipedia.org/wiki/United_States_public_debt from the Congressional Budget Office paints rather a different picture. Is it wrong ?

I urge anyone honestly assessing US debt and deficits to consider the following.

Article I of the US Constitution establishes that Congress is in charge of federal spending through authorization and appropriation. While the President proposes a budget each year, it is up to Congress to enact the legislation which directs spending. The president then approves and signs the bills or vetos them.

Presidents throughout history get too much credit and blame, especially in regards to federal spending. Even the term "budget" has been misappropriated to refer to actual spending rather that the proposal that it is.

If one looks at debt and/or deficit history while keeping in mind which party was in control of Congress at the time a much different picture emerges than tracking by executive administrations.
Wine is sunlight, held together by water - Galileo Galilei
Un jour sans vin est comme un jour sans soleil - Louis Pasteur
Water separates the people of the world; wine unites them - anonymous
Wine is the most civilized thing in the world - Ernest Hemingway
Wine makes daily living easier, less hurried, with fewer tensions and more tolerance - Benjamin Franklin
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