The National Debt Road Trip
December 27th, 2009 | by admin |10000Pennies asked:
How do the Obama deficits compare with past presidents? And how did the national debt get so big anyway. This video tries to answer those questions by looking at the debt as a road trip and seeing how fast different administrations have been traveling. Historical debt data: www.treasurydirect.gov Inflation data: www.westegg.com Future debt data (2010 - 2016): www.whitehouse.gov For more, follow my Twitter account at PoliticalMath or visit my blog at politicalmath.wordpress.com…
Fill This Out For Free Bankruptcy Evaluation!
Tags: Inflation Data, Presidents, Traveling
By PeterDivine on Dec 28, 2009
@crocko1093 At this point, I think finger-pointing is no longer going to be relevant when we all get screwed by the God-knows-what consequences of a debt this large.
Seeing as the national debt’s estimated at going to 9 trillion dollars in the next decade… I think now might be the time to just swallow Advil.
By PeterDivine on Dec 29, 2009
So, we’re screwed then, yes?
We’ve got so much debt that I don’t know even who the hell we owe it to anymore, nor how we’re still taking out those loans.
And here was me in my childhood, hoping that the future would be a cool place to live…. meanwhile, my generation is predicted to have a dip in the standard in living for ages, and the deficit spending and national debt reach to the stars.
My life is gonna **** when I get out of college in two years.
By detroyes2 on Dec 31, 2009
Spending our way out of a recession has only worked IF we had the money to invest. But the amount that we’ve gotten into debt is so huge that we’re not just mortgaging our children’s future, but probably our own as well. Just paying the debt is going to kill us, never mind trying to pay for such expensive boondoggles as universal healthcare.
The current administration is going to go down in history as the most fiscally irresponsible ever.
By afordian on Jan 3, 2010
are they not loans?
By skewbuh on Jan 4, 2010
The constitution only grants the government certain liberties. One of the liberties it gives is the ability to COIN money. COIN. As in backed up by a precious metal. We got rid of the gold standard in the 70’s. The Constitution never intended for a bank to run on fiat currency - in fact, our founding fathers warned us about setting up a central bank, we just didn’t listen. Do some research before assuming everyone’s out to get obama. Also, **** republicans.
By detoth67 on Jan 7, 2010
blah blah blah! Socialism! Blah blah blah! Don;t use words you don’t understand, junior!
So the constitution said that the banks should fail? Prove it, or apologize for lying!!!!
By crocko1093 on Jan 9, 2010
how bout u stop using google or the new york times u socialist idiot. one word for you and it is capitalism. if we would have followed the constitution and let the banks fail everything would have been ok. but you dumbasses taxed the **** out of us for more debt. nice job
oh ya, where is all that stimulus money at? i sure didnt see any of it.
Ill tell u where it is, Geitner is using it as toilet paper and fire starter
By buddhajapan on Jan 11, 2010
the facts like unemployment numbers since obama’s spendulus began? (p.s. look up how much stimulus money we’ve spent so far… not much.)
By buddhajapan on Jan 14, 2010
i think you’re irrational and/or retarded. (seriously)
By detoth67 on Jan 15, 2010
It’s always worked. Even Reagan did it!
LMFAO! The stimulus has succeeded. Conservative economic policies left us with -6.4% GDP. Immediately after the stimulus passed it recovered to -.7, now we are at +3.5% and growing.
Try facts next time, con. Not BS you heard on Glenn Beck
By blowme23 on Jan 18, 2010
the idea of spending to get out of a recession is a horrible idea and doesn’t work.
If you want to kick start growth again give bonus to small business.
Also how can you say Obama is being more responsible if he is tripling the amount of debt that GW did.
Also as we have seen the 900 billion stimulus bill has failed miserably. It has not helped the economy at all and there is talk of adding a second stimulus bill.
By grawk1 on Jan 21, 2010
The difference is that Obama is spending like that to escape an unbelievable recession, you need that spending to kick-start growth again. I have my concerns as well, but I think Obama is being way more responsible than Bush Jr ever was.
By AtlasShruggery on Jan 25, 2010
Thanks again for the tips.
I’m glad to hear that there is finally some intellectual honesty comng from the Right after 30 years of Trickle Down Reaganomics and disingenuously dissing Keynes.
Yes, cutting spending would be a huge mistake. Much like 1936. Another stimulus with an emphasis on spending for infrastructure would be a good move right about now.
Just FYI, I find Paul Craig Roberts & Kevin Phillips to be honest, genuine conservatives who never drank the Bush Cult Koolaid.
By kinksfan1 on Jan 27, 2010
Hey Atlas. Ray Davies is touring the country right now. He may be coming to your area. Bruce Bartlett was one of the architects of supply side economics. Senior fellow at Heritage, Cato etc. He has genuine conservative credentials. I don’t agree with all his views but he’s pretty straightforward and honest. Search: “Bartlett GOP’s Misplaced Rage”. I think you’ll like it. Also search:” Bartlett We Can’t Cut Spending”. Anyone who thinks we can solve things by cutting spending is living a fantasy.
By AtlasShruggery on Jan 28, 2010
Hey, .333 is not a bad batting average. I figured you were still sore because Bungler McCain and his idiotic sidekick Sarah Palin got thumped.
By billrah on Jan 30, 2010
Nope voted for Ford in 76, and did not vote for Perot.
But we do agree in a manner, I think you are entirely wrong about Obama too.
And I did vote Republican in 2008.
By AtlasShruggery on Feb 1, 2010
Interesting. While I think you’re entirely wrong about Obama at least you didn’t fall for the idiocy of Reagan-Bush-Bush.
I’m guessing you voted Republican in 1972 and 2008. Maybe Perot in 1992.
By billrah on Feb 4, 2010
AtlasShruggery your reply like most of your remarks is entirely off the mark. Nowhere in my reply did I refer to Obama as either the Messiah, of the Anointed one. Only as a person who thinks he is smarter than everyone, and I mean everyone
else.
I am nothing like a Repuplicon (whatever that is).
I’ve voted in every Presidential election since JFK, and only twice for the Republican candidate. And neither Reagan, or the two Bushes were amongst them.
So direct your remarks to people you know.
By AtlasShruggery on Feb 5, 2010
The RepubliCons are terrified that people with discover the truth about Ronald Reagan. RepubliCons have spent millions of dollars and the last twenty years trying to spin Reagan as some kinda saint rather than the corrupt Hollywood airhead that Reagan actually was.
Most of our current problems with terrorism are the result of Reagan’s idiotic policy of Arming Islamic extremists and coddling murderous dictators.
By AtlasShruggery on Feb 9, 2010
It’s interesting that only you RepubliCons refer to Obama as “the Messiah” or as “the Anointed One”. The rest of us just call him our president. We don’t think he’s infallible but we know that he’s far superior to corrupt Neocon charlatans like Reagan Bush Bush.
By detoth67 on Feb 11, 2010
Correct! Reagan didn’t have serious positive job growth until well into his 2nd term.
Yet the cons worship him as an economic messiah!
By detoth67 on Feb 14, 2010
Furthermore, private debt is what caused the financial disaster we’re in. Not public debt.
The 48 trillion private, individual and business debt, you cons cheer on as “free market capitalism”. But it has far greater consequences than out far lesser public debt.
“Ronald Reagan proved that deficits don’t matter”
-Dick Cheney 2002
By AtlasShruggery on Feb 17, 2010
Yes. Excellent point. The RepubliCons like to forget that US unemployment was 7.2% when corrupt Hollywood airhead Ronald Reagan took office and that unemployment soared to 10.8% after two years of Trickle Down Reaganomics. Fortunately, the Federal Reserve got inflation under control and the economy bottomed. Even then, job growth under Reagan was anemic compared to Clinton and LBJ.
By detoth67 on Feb 19, 2010
The only problem with that is that you don’t end a recession by cutting spending. Govt spending cuts would further shrink the economy. Even Reagan used debt spending to end a recession.
The problem with this video is that it assumes the current level of spending will continue for 8 years. When in fact, we won’t have a stimulus package every year. It’s incredibly dishonest.
It also ignores the fact that the real problem is 48 trillion individual and business debt.