Replies to post #409897 on Zeev's Turnips Talk Politics (ZTTP)

[BOREALIS]

Few Americans have any idea how bad the financial problems are that President Obama inherited from the Bush administration.

Never mind the housing bubble, the bank meltdown, or the bailout scandals –
I am talking about the failure of federal government to honestly account either for its own actions or for America's most important programs: Medicare, Social Security, and Medicaid

George W. Bush took office after three years of budget surpluses under President Bill Clinton.

Eight years later, Obama walked into the Oval Office to find – gift-wrapped with a bow,
as he recently joked – almost $11 trillion in Treasury debt, and deficits of more than $1 trillion a year for the foreseeable future.

That's a $30,000 burden on every man, woman, and child in America, on top of the taxes they are already paying.
Under better management, that number could have been zero.

If this weren't bad enough, President Bush's financial legacy is marred by other fundamental problems.

Bush's team borrowed more than $1 trillion from the Social Security "trust fund" and seemed to spend it on everything except Social Security. Like Blanche DuBois in Tennessee Williams's "Streetcar Named Desire," Social Security now depends on the kindness of strangers – namely, future taxpayers and foreign lenders.

[. . . ]

The first rule of holes is to stop digging. President Bush not only failed to stop digging, he used a power shovel. The giant task of the Obama administration will be to build a tall enough ladder to help us climb out. This is a job that will take many years – perhaps decades.

[BOREALIS]

they're still stuck on STUPID ...

[*~1Best~*]

The real problem is that Obama does not have influential money-power, therefore, no power -- even though he was followed by many sheepsters. Because of powerless influence, when economy continues to go down, GOP is hoping that sheepsters forget the truth about the Bush-Greenspan GOP big scheme and blame Obama.

The truth about fiscal disaster is that others made big money off from the deficit, except wars destroying and wasting people and buildings, etc. That is the reason that no one gains from wars except some collateral gains.


re: Deficit

Not many really is concerned about USA even though our country can be saved with One-Time scaled in tax based on net-worth to pay off the national debt -- those who paid will be rewarded in heaven. Not many like to pay the price even though some have paid with their lives.

i.e. instead of dividing the total national debt by US population, but with scaled donation like the tax scale, e.g. 15% of net worth with min $5000, as example.

<<< George W. Bush took office after three years of budget surpluses under President Bill Clinton. Eight years later, Obama walked into the Oval Office to find – gift-wrapped with a bow, as he recently joked – almost $11 trillion in Treasury debt, and deficits of more than $1 trillion a year for the foreseeable future. That's a $30,000 burden on every man, woman, and child in America, on top of the taxes they are already paying. Under better management, that number could have been zero. >>>