Meet the debt generation – Tenn. College Republican Committee video

Meet the Debt Generation … Generational theft 101.

During the Bush (43) years the federal government spent way too much money we did not have. It was bad, and as a percentage of GDP deficits during the Bush years, the deficit went from 56 percent to 70 percent. Not good. During the Bush (43) presidency, the national debt increased $3.2 trillion dollars, from $5.8 trillion to $10 trillion. The federal government almost doubled the national debt in eight years. Not good.

Update: Bush’s total deficit was about $3.54 trillion, not $3.2 trillion. I did not give him credit for the surplus in 2001, but gave him responsibility for the $1.4 trillion deficit in 2009. Quite fair of me don’t you think? I was figuring these calculations literally on the back of a Dunkin Donuts napkin this morning while in the passenger seat on the Mass. Pike … sorry, the numbers are off a bit for the debt and deficit.

Remember the days liberals FREAKED OUT about these numbers on a regular basis? Although not a liberal, I was with them to an extent, as I’ve been saying for years the problem is the centralized power and spending that has been shifting to the federal government for decades. It’s been an ongoing prescription to disaster.

The Obama camp took those outrageous figures and set a new standard for outrageousness.

Obama increased the national debt by more than 50 percent in three years. $10 trillion to $15.5 trillion. As a percentage of GDP, we’ve gone from 70 percent to 103 percent. Obama and the congress-critters are responsible for more than $3.7 trillion in deficits in just three years. As noted Bush’s total was $3.2 trillion.

There is a solution, and yes, if you want all of the government entitlements, you should know in advance that when we take the power and money away from Washington, DC – leaving the federal government only with powers as described in Article 1, Section 8 of the US Constitution – local and state taxes will necessarily skyrocket. That’s the first step … moving that money, power and control back to the state and local level.

From there, the 50 states will compete to provide the highest justifiable quality at the lowest reasonable cost. People will make choices and find the best place to live and raise a family. State competition is the answer!

Now to the video…

12 replies
  1. stinkfoot
    stinkfoot says:

    The debt generation indeed…. and in addition to that $50,000.00 of debt resting on the shoulders of each graduate there will also quite likely be saddled with a fortune in personal debt from student loans because beyond rhetoric nothing is being done to ensure that the costs of higher education be subjected to the same regulatory effects of a free market.? Instead, Uncle Sham, by making loan money cheap and available, has ensured that there’s a glut of business for universities eliminating any need to compete to enroll students.? Ensuring that demand for an education is high also ensures that the costs is also high.? Offering easy financing for an education that does not ensure a high paying job at graduation- largely because experience trumps education but it DOES ensure that the average graduate is burdened with an average of $24,000.00 in debt to Uncle Sham.? $74k in the hole from the starting gun and it’s hard to break even in the rat race, let alone win.
    ?

  2. sammy22
    sammy22 says:

    Correction please: $10T-$5.8T=$4.2T not $3.2T. If that is the case, there was an increase of over 70% during the Bush (43) years.

    • Steve M
      Steve M says:

      See update above. Got any comment about the EXPLODING deficit and debt during the Obama years as compared to Bush? It’s Congress’ problem too … it’s WASHINGTON’s problem.

  3. JBS
    JBS says:

    Steve, you sound as if you are making the Tea Party’s case. That’s O.K. No one can dispute that the current and preceding presidents wildly spend and spent money, our money. (Really loans from the Chinese and Japan, etc.) Right thinking people know that the only way out of our national problem, debt and profligate spending, is for spending and growth in government to cease!
    Shrinking government is a first step. A flat tax would be a good step toward budgetary solvency. (26 countries, Russia included, have a flat tax and are enjoying increased tax revenues.) However, with increased revenues there has to be deep spending cuts. With a flat tax there has to be a stop in government growth on the federal level. Here’s something radical: lower the the capital gains on short-term and long term income to 5%. Watch the money pour into the Treasury. (No, I do not have or will have any capital gains.)
    Pare the federal government back to Article 1, Section 8 of the US?Constitution. Only those powers outlined in the Constitution would be reflected in government departments, etc. If the states want to pick up the slack, let them go for it. Citizens would have…

  4. sammy22
    sammy22 says:

    Yep, the exploding debt and deficit suck! No argument from me. Even with the update the figures should be revised.

  5. Dimsdale
    Dimsdale says:

    Rhetorical question of the day: If $3.54 trillion (or $4.2 trillion) was (everybody join in!) “the worst economy since the Great Depression” (to quote more than a few Democrats and their media flying monkeys), then what do you call $15.5 trillion?? You know what the media *doesn’t* call it!
    ?
    And ?bama has his hand out for more….

    • JBS
      JBS says:

      I call it like it is, criminal.
      I would like to know how many friends of Barry have fed at the government trough? I know that whenever one party or the other is in power, the friends of the politicians make money from the government. But, this is ridiculous! And, criminal.
      I really would like to know how many Democrats have become millionaires from the government during the Zer?’s reign.

  6. Lynn
    Lynn says:

    This is the BEST Super Bowl ad I have ever seen!!! Please, please,please these college students have produced a better commercial than any I have seen done by professionals. Put it on where it will be seen!

  7. Tim-in-Alabama
    Tim-in-Alabama says:

    Professors need to ban together to destroy these free thinkers and flunk them out of college. They’re racist pigs.

Comments are closed.