Whose Debt Is It?
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Those who blame the Obama administration for the current deficit should acquaint themselves with a few facts.
After eight years of the Clinton/Gore administration, the national economy was at a trillion-dollar surplus, and we were a lending nation. After eight years of the Bush/Cheney administration, the economy was at an $8.7 trillion deficit, and we had become a borrowing nation.
The GOP and its tea party supporters have a plan to substantially cut spending. At the top of their list are Social Security and Medicare. Since I qualify for both benefits, it kinda gives me a warm feeling all over to know that I will be helping to reduce the national debt.
Carl Sellers
Southern Pines
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Comments
JER 1 year, 8 months ago
Me too, Carl. Plus I helped a bit more by not joining the military, which saved them a bunch more money. Together we can get this budget balanced....if we can just stay alive long enough to get it done.
dlb 1 year, 7 months ago
Two Takers looking out for their "FAIR SHARE"
JimHeim 1 year, 7 months ago
Takers? We Social Security recipients put a lot of our hard-earned money into the retirement system with the expectation that we would get a return as promised. How does that make us "takers?" If you put your money into an IRA and withdraw the proceeds upon retirement, does that make you a taker? You live in a strange world, dlb.
DaveyNC 1 year, 7 months ago
You're getting a "return"; those younger than you aren't: http://goo.gl/TYo0p From the link:
"...today Social Security's actuaries say that from now on all annual classes of retirees will get back less from Social Security than they put into it, discounting at the federal bond rate -- that is, they will lose money compared to if they had simply put their Social Security taxes in a federal bond."
And that "return" you're getting isn't a return at all, it's a transfer payment taken from the paychecks of younger workers.
You're welcome.
JER 1 year, 7 months ago
Oh Davey, THANK YOU!!! THANK YOU!!! THANK YOU!!! Where ever would all us old people be without you.
bigD 1 year, 7 months ago
The so called Clinton surplus was brought on by lowering taxes on capital gains. The stock market was up 37, 23, 28 and 21 percent respectively from 1995-1999. The new Buffet tax would do the opposite.
I guess the likes of Mr. Sellers, Jim Heim and Dusty Rhodes will be voting for Newt Gingrich since it was Newt's budget and the Contract with America that gave us the surplus they all love to brag about...
blake 1 year, 7 months ago
The Clinton "surplus" was only a projection. National debt grew under Clinton, in fact, during all eight years. Read for yourself:http://www.craigsteiner.us/articles/16
MikeNC 1 year, 7 months ago
Once again, confusion running rampant. Social Security would STAY the way it is for people 55 and over. Nothing changes. People below age 55 would have options to start their own savings program. And may in the end, fair better than us.
JER, just what precisely is your hang up with the military? Are we a bunch of "Freddie the Freeloaders", tagging a long for the ride, looking for a free hand out, or what? I must of missed school the day teacher was telling the class how rotten the military is. Diane
JER 1 year, 7 months ago
The employment I had was funded by customers who bought the products my company produced. The military is funded by tax dollars and is part of the budget that, as you and your ilk like to point out, is not balanced. By not joining the military, I saved the tax payer money. What is your "hang up" with that. Just doing my part, mam.
lhines48 1 year, 7 months ago
Carl, I am glad that someone finely realize that or current deficient is not the current administrations creation. This deficient is the product of 10 to 20 years of out of control spending and mismanagement of our tax dollars. I understand that President Obama owns the deficient problem now and he looses the next than that president will own the deficient problem also. I think the people who are blaming him for creating the deficient are two french fires short of a happy meal. I am sure that there are lot of things in the budge that can be can be eliminated are put on hold until we correct the deficient crises. Things like the space program, ear marks, the two wars that we have going right now and cut aide to some of the countries that don't need our help and more. I am sure that there more, but I have not seen budget.
DaveyNC 1 year, 7 months ago
Oy.
MikeNC 1 year, 7 months ago
Just an added thought on the Social Security issue. Social Security cuts did begin two years ago. Bernake running the printing press for these pass two years, have resulted in artificially low interest rates, which Social Security COLA increase is based on. Therefore, Social Security recipients have not seen any increase in their checks. Looks like it may very well happen for 3 years in a row, soon. But as we all know, the price of food and clothing, not to mention gas, has jumped dramatically. (PS Jer, that also holds true for military retirees having gone almost three years with no increase to their COLA. ( I thought that would at least make your day) Diane
MikeNC 1 year, 7 months ago
JER, I personally want to thank you for not joining. Diane
JER 1 year, 7 months ago
You are very welcome, Diane.
Oh, by the way, you never answered my question from a previous discussion: Where do you stand on repairing and maintaining our infrastructure?
Courseaire 1 year, 7 months ago
JER, I believe she did respond to your question and she was a 100% for it.
JER 1 year, 7 months ago
Thank you, Courseaire, I evidently missed that. I guess that makes her a supporter of one of the Obama administrations plans for creating jobs and getting the country pointed in the right direction. Glad to hear that.
Courseaire 1 year, 7 months ago
T ‘were it only true - He's done a great job so far and earned the support of a grateful nation.
TreadLightly 1 year, 7 months ago
If I could get an eight percent COLA each year, I could become a progressive! But to complain because we don't get a COLA seems unpatriotic.
How many tea party people do we have to elect to cut Washington's COLA to the same as ours? I say either put baseline budgeting in the trash for the government agencies, or give us a baseline budgeted COLA the same as theirs.
RadioNC 1 year, 7 months ago
Where do you Democrats get your numbers? Must be a new math I’ve never heard of. The deficit went up every year under the Clinton administration. Only the rate of increase in the deficit declined in the latter years under the Republican-controlled Congress. You Democrats will believe just about anything. Dream on if you think there was ever a surplus.
plublius 1 year, 7 months ago
According to official statistics the total government annual deficit shrank each year beginning in 1993: the government ran an increasing annual surplus in 1998-2000. In 2001 the surplus fell, and the government moved into annual deficit every year since. Check it out http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/hist.pdf