Debt Debate in Congress

[Gaspar]

This week, while no one is looking, the president will phone in a request from Makaha Resort & Golf Club, on the island of Oahu.

He will ask for a $1.2 Trillion increase in the debt limit, pushing it past 16 Trillion dollars, or about $135,000 per tax payer!

[Townsend]

This week, while no one is looking, the president will phone in a request from Makaha Resort & Golf Club, on the island of Oahu.

He will ask for a $1.2 Trillion increase in the debt limit, pushing it past 16 Trillion dollars, or about $135,000 per tax payer!

You should probably cite the post.

[Gaspar]

You should probably cite the post.

http://www.reuters.com/article/2011/12/27/us-usa-treasury-debt-idUSTRE7BQ0KU20111227

or you could just use the google.  It's news, except for MSNBC, Huff, MoveOn, and Kos.

[RecycleMichael]

The debt limit is 50% higher since President Obama took office.

During President Reagan's term it went up 100%.

How dare Obama not go into debt as much as Reagan!

[Hoss]

The debt limit is 50% higher since President Obama took office.

During President Reagan's term it went up 100%.

How dare Obama not go into debt as much as Reagan!

Kinda funny how that works...

[Gaspar]

The debt limit is 50% higher since President Obama took office.

During President Reagan's term it went up 100%.

How dare Obama not go into debt as much as Reagan!

I used to be twice as old as my little sister when I was two.

You are talking about $69 billion dollars over 8 years VS $5 Trillion dollars in three.  That's 72 times as much!

[RecycleMichael]

Saint Reagan screwed the future by going into debt, yet republicans only remember him as the guy who tore down the Berlin Wall.

[Gaspar]

Saint Reagan screwed the future by going into debt, yet republicans only remember him as the guy who tore down the Berlin Wall.

Perhaps we will just remember President Obama as the guy that got Bin Laden, and be able to forget the rest?

[RecycleMichael]

I used to be twice as old as my little sister when I was two.

And you could once get a hot bath and a steak for a quarter.

You think the only way to compare things is by raw numbers? Did you not learn percentages in school?

[Gaspar]

And you could once get a hot bath and a steak for a quarter.

You think the only way to compare things is by raw numbers? Did you not learn percentages in school?

I think that would be a fair comparison if it was inflation we were correcting for, but it is not.  President Obama has spent more in interest obligation than Reagan did in deficit spending.

I'm not debating that Reagan was a spender, but the comparison you are making is niter important or relevant.  Makes a nice pitch though.

What would you say is the return we can expect from President Obama's spending campaign vs. Reagan's or even Clinton's spending cuts?

It seems that spending is the only way the Obama administration knows to stay afloat.  It's kinda like people who see nothing wrong with paying one credit card using another.  Somewhere in their minds they think that either they are going to catch up, or come into money.  Eventually, they just blame the credit card company, and file bankruptcy.

[Townsend]

or you could just use the google.  It's news, except for MSNBC, Huff, MoveOn, and Kos.

Or you could cite your posts.

[RecycleMichael]

There are tremendous similarities between Reagan and Obama presidencies.

In his second and third years, Reagan faced unemployment well over ten percent and it started to come down by deficit spending. November of 83 it was 8.5% and November of 2011 it is 8.6%.

[Red Arrow]

The debt limit is 50% higher since President Obama took office.
During President Reagan's term it went up 100%.
How dare Obama not go into debt as much as Reagan!

Reagan had 8 years.  (So far) Obama has had about 3 years.

Reagan had more than twice as long to raise the debt limit 100% as Obama has had to raise it 50%. 

[Red Arrow]

You think the only way to compare things is by raw numbers? Did you not learn percentages in school?

Yes, I learned about percentages.  I also learned they could be used to deceive.

Example:
Company A has 2 employees.  They hire 2 more.  That is 100% growth. 

Company B has 100 employees.  They hire 50 more.  That is only 50% growth.

Clearly, Company A has had twice the growth as Company B. 

[Teatownclown]

Yes, I learned about percentages.  I also learned they could be used to deceive.

Example:
Company A has 2 employees.  They hire 2 more.  That is 100% growth. 

Company B has 100 employees.  They hire 50 more.  That is only 50% growth.

Clearly, Company A has had twice the growth as Company B. 

1/2the head aches....