Wednesday, October 10, 2012

Drowning in debt?

The only talking point the Republicans have that is fact based is the size of the debt load, but of course they don't mention that the debt is entirely their own doing.

The bad news for this talking point is that the total public and private debt is now at a six year low compared to GDP. Let's see, Obama has been POTUS how long? He took over after Clinton, didn't he?

The truth is that the economy has been growing steadily since the Stimulus was put in place. Consumers have been de-leveraging, (not always willingly) but it has been happening. There are even economists saying we need to borrow more. Raising the minimum wage would make more sense, but the Republicans think the 47% are paid too much already. Always whining about being entitled to food and healthcare.

1 comments:

Anonymous said...

Debt Scbmet, Gubbermint puts out T-bills and other countries buy them for what ever reason.
Just raise taxes on adoodle (that guy that funnels money), rodney underpants, wallmart chilin to levels commensurate with their utilization of the priveladge of making money in the United States of America economy to fill the treasury for the time when the T-bills come due! How eF%&#$in simple is that concept??!!