Democrats Obama, Reid, Pelosi Smash All Federal U.S Government Spending Records
Phil
previous U.S. Congresses in U.S. history
combined. Little wonder the U.S. federal national debt now stands at
$14 trillion-- and climbing fast.
http://www.cnsnews.com/news/article/111th-congress-added-more-debt-first-100
Killer Of Rightists©
>
> The recent Democrat controlled Congress amassed more dept than all
> previous U.S. Congresses in U.S. history
> combined. Little wonder the U.S. federal national debt now stands at
> $14 trillion-- and climbing fast.
Why do you care, Canadian? You don't pay US taxes and have no right to
vote. In fact there's nothing in it for you, you fascist piece of shit.
http://www.thenewsstar.com/article/20101219/OPINION02/12190320
By Dr. Joshua Stockley
Budgeting 101.
A budget is a forecast of anticipated income and expenses for a future
period of time.
Entities calculate how much money they will receive (revenue) and how
much money they will spend (expenditures).
Surpluses occur when revenues exceed expenditures; deficits occur when
expenditures exceed revenues.
Effective budgeting demands simultaneous attention to both revenues
and expenditures.
Introducing Republican Budgeting 101.
Congressional Republicans believe deficits are exclusively a function
of spending.
In their mind, deficits are solely the result of expenditure
mismanagement (i.e. spending too much).
Alas, such naïveté fails to consider that deficits may equally be a
consequence of revenue mismanagement (i.e. decreasing taxes too much).
Republicans don't believe revenue reductions create deficits.
When Republicans talk about solving the problem of deficits, the only
thing they are willing to talk about are utterly inconsequential,
minute components like earmarks.
For example, this week Republicans moaned about a $1.2 trillion
omnibus spending bill because it includes a whopping $8 billion, or
half of 1 percent, in earmarks — that they requested!
If Republicans removed their own requested $8 billion in earmarks from
the omnibus spending bill, then the cost goes from $1.2 trillion to
$1.2 trillion.
Regardless, they still wanted $8 billion in earmarks.
In the end, the Republicans turned the ship around, and the spending
bill was pulled.
Republicans are howling about earmarks, but they'll demand huge tax
cuts for the super-wealthy.
Did you know that the $8 billion in earmarks requested by Republicans
that Republicans want to eliminate comes from 6,600 projects?
Did you also know that the difference between the estate tax deal
favored by Republicans and the estate tax deal favored by Democrats is
$10 billion and would benefit 6,600 families in the entire country?
Republicans are complaining about 6,600 projects costing $8 billion —
projects that would benefit a wide swath of their constituents — in
favor of $10 billion for 6,600 wealthy families.
You want some more proof that Republicans are fiscally bereft?
According to the GPO, federal tax revenue was 20.6 percent of GDP and
federal spending was 18.6 percent of GDP by the end of the Clinton
presidency (the reason that Clinton, a Democrat, was the first
president to create a surplus since 1969).
At the conclusion of the Bush presidency, federal tax revenue was 17.5
percent of GDP and federal spending was 20.7 percent of GDP.
That's a 3.1 percent reduction in tax revenue as a share of GDP and a
2.1 percent increase in spending as a share of GDP.
For you non-math majors, Republican tax cuts are three-fifths of our
fiscal problem.
Our deficits have more to do with out of control tax cuts than out of
control spending.
Yet, let's examine our spending increases.
Are wasteful earmarks responsible for our increase in spending?
No.
Was it welfare or unemployment or bailouts or stimulus packages?
No, no, no and no.
The largest factor for our surge in spending was a costly defense
policy that included two wars in Iraq and Afghanistan.
In 2000, the United States spent 3 percent of the GDP on defense;
however, in 2008, the United States spent 4.2 percent of the GDP on
defense.
More than half of the total increase in federal spending comes solely
from defense.
What have we got to show for it?
Ten years of war, a mountain of debt and a sluggish economy.
You wouldn't know this watching Faux News, listening to Republican
politicians, or attending a tea party rally.
Cutting federal spending is the rhetorical cornerstone of this unholy
triumvirate, and, for some reason, earmarks, at less than half of 1
percent of all federal spending, have drawn the most ire.
Ironically, this hasn't stopped the Congressional Tea Party Caucus
from requesting 764 earmarks at a cost of $1,049,783,150 in 2010.
That's right.
Republicans, even the tea party ones, were for earmarks before they
were against them and before they were for them again.
Republicans won't balance the budget — ever — because they don't know
how to balance the budget.
This is why John Boehner cries all the time.