Stories worth reading on a holiday Monday

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3 Responses to Stories worth reading on a holiday Monday

  1. Roberta says:

    Not sure why the above chart was posted. The article is irrelevant since spending is not the problem as long there is money to cover it. The deficits and resulting debts are the problem. Here are the ratios of deficit to GDP by president and you can see who the problem child really is:

    Reagan – 4.2%
    Bush 1 – 4.2%
    Clinton – 0.5%
    Bush 2 – 2.7% (skewed higher by 2009 TARP)
    Obama – 8.9% (highest since WWII)

    Source:
    http://www.forbes.com/sites/jamesglassman/2012/07/11/the-facts-about-budget-deficits-how-the-presidents-truly-rank/

    I can do one better than that. Try this: Our current president is personally responsible for the financial crisis. YES, it’s true – you cannot make this stuff up:

    http://scrapetv.com/News/News%20Pages/Politics/pages-6/President-Obama-apparently-caused-the-subprime-mortgage-crisis-all-by-himself-Scrape-TV-The-World-on-your-side-2012-09-03.html

    another one:
    http://news.investors.com/ibd-editorials/090412-624522-obama-launched-subprime-crisis-with-lawsuit.htm

    more:
    http://www.jdnews.com/articles/republicans-107798-straight-economic.html

    Fair and balanced. I just report the news. YOU decide. 🙂

  2. Actually revenues fluctuate with the business cycle. But spending is the thing we can control the most through good times and bad. Discipline around spending habits is the thing that actually matters most to final outcomes.

  3. Roberta says:

    Oblabber did inherit a bad economy for sure. I fault him greatly in any event for the huge deficits and I fault him even more because he has no concept that they need to stop! THAT is a show stopper.

    Ronnie Raygun started the huge deficits in earnest and except for Clinton (inherited a bubble economy which made him look good, but in reality wasn’t good at all) have continued to the present day.

    Controlling spending is important, but controlling debt accumulation is more important – but you are correct that they are related. If you can’t control debt accumulation you get Zimbabwe: http://www.youtube.com/watch?v=s3LdNxV0yPM

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