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Obama's Presidency
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Posted 12/28/12

CABarrett wrote:


longfenglim wrote:


karmacide wrote:


longfenglim wrote:


unknownkr wrote:

Obama is gonna destroy America. Only in America can a president increase the national debt and be elected twice.
http://www.washingtontimes.com/blog/inside-politics/2012/sep/4/debt-tops-16-trillion/


Well, every President since Reagan increased the national debt.





Look at Clinton. What a boss.


It should not be forgotten, though, that Government debt is not actually an indicator of how well the economy is doing- for example, under Roosevelt, we intentionally ran up a temporary debt to stimulate the economy, and under Reagan, Clinton, and Bush, we also intentionally ran up debt to supplement the money loss from their Tax Cut, which was intended to encourage the wealthy to invest in the economy. So, national debt is not necessarily a bad thing.


Oh, and note that the debt is never negative or zero...


Not really, we actually had a period where we did, in fact, pay off all our public debt- back in 1835 or so.



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Posted 12/28/12 , edited 12/28/12

longfenglim wrote:


CABarrett wrote:


longfenglim wrote:


karmacide wrote:


longfenglim wrote:


unknownkr wrote:

Obama is gonna destroy America. Only in America can a president increase the national debt and be elected twice.
http://www.washingtontimes.com/blog/inside-politics/2012/sep/4/debt-tops-16-trillion/


Well, every President since Reagan increased the national debt.





Look at Clinton. What a boss.


It should not be forgotten, though, that Government debt is not actually an indicator of how well the economy is doing- for example, under Roosevelt, we intentionally ran up a temporary debt to stimulate the economy, and under Reagan, Clinton, and Bush, we also intentionally ran up debt to supplement the money loss from their Tax Cut, which was intended to encourage the wealthy to invest in the economy. So, national debt is not necessarily a bad thing.


Oh, and note that the debt is never negative or zero...


Not really, we actually had a period where we did, in fact, pay off all our public debt- back in 1835 or so.





I was actually just referring to the graph but I was trying to allude to the point that our debt will mostly remain in the positive. The threat to American economic prosperity does not usually lie in the amount of debt that we have per se but our ability to include the debt wholly in our budget. Reducing the income of a government (taxes and other revenue) will reduce the available allocation in the budget that said government has available to manage its debt.

As such, debt isn't as much a threat here in America (we still have our debt within our budget) however, the recent debt crisis in Europe is a perfect example of when a government(s) fail to budget their debt.

On another note, the "Fiscal Cliff" debate here in Washington is laughable. There are many experts here in WDC who think that we should just go over the cliff. I believe that President Obama should listen to them and go over the cliff.
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Posted 12/29/12
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