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…