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republicans created the national debt

Daily newsbrief journal for October 2012, also see http://www.usdemocrats.com/brief for a global 100-page perpetual brief and follow twitter @usdemocrats


republicans created the national debt

Postby admin » Sun Oct 21, 2012 5:10 pm

Lets look at who added to the national debt, republicans or democrats:
$3.5 trillion – Economic changes (including lower than expected tax revenues and higher safety net spending due to recession and the collapsed economy and banking system under the republicans)
$1.6 trillion – Bush Tax Cuts (EGTRRA and JGTRRA), primarily tax cuts but also some smaller spending increases
$1.5 trillion – Increased defense baseline budget and non-defense discretionary spending to support the two wars and increased global security as a result of those wars
$1.4 trillion – Wars in Afghanistan and Iraq
$1.4 trillion – Incremental interest due to higher debt balances
$0.9 trillion – Stimulus and tax cuts since 2008 (Economic Stimulus Act of 2008, ARRA and Tax Act of 2010 (which actually alot of it has been recovered with profit.. count just this and $10 trillion dollars were definitely caused by republicans and their reckless wars and tax cuts to the 1% not obama.. so heres romney again narrating false narrations to americans http://en.wikipedia.org/wiki/File:Cause ... 1-2011.png .. and these figures dont count for the recoveries and penalties and fines theyve issued and recovered in the hundreds of billions of dollars probably over a few trillion dollars in recoveries by the obama administration in the past few years through non performance of work contracts, overbillings, false billings etc in all sectors including military, health, banking etc etc and the profits from the banking bailouts.. and recalculate those investments so that they are no longer debt since pretty much all of those bailouts to the banks and the auto sectors have been recovered with profit so narrating those billions as debt is not accurate since that debt has been returned, recovered and with PROFIT

romney lies about continued debt to the public through admin policies,, the TARP bank bailout that romney falsely narrates that added a trillion dollars to the deficit actually back in 2011 was 100% recovered PLUS added a profit back to the american public in the $25B + range .. so in fact that trillion dollar debt that was there in 2009 is no longer there, plus theres was a profit generated from that bailout investment .. there you go more lala land fantasyworld lies by republicans that democrats are the ones who create all this debt when facts shows its republicans who are responsible for all this debt http://money.cnn.com/2011/03/30/news/ec ... /index.htm
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