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Thread: What's this? Obama U-Turn on debt limit?

  1. #1

    What's this? Obama U-Turn on debt limit?

    But I was told the GOP/Tea Party had cornered themselves into a trap and all near-term, mid-term, and long-term was lost.

    [url]http://www.dailymail.co.uk/news/article-2017070/Obama-U-turn-accepts-extension-debt-limit-days-broader-deal-place.html[/url]

    I was also told there would be cake.

  2. #2
    from that article

    Bush got the debt from under 60% to almost 90% of GDP

    I dont see why Obama is way worse. All the real damage was done in the back half of the Bush 2nd term. Obama put the wars in Iraq and Afghanistan on the books, something Bush didn't do (all emergency spending).


    [IMG]http://i.dailymail.co.uk/i/pix/2011/07/21/article-2017070-0D17F7B800000578-27_468x298.jpg[/IMG]

  3. #3
    [QUOTE=bitonti;4065234]from that article

    Bush got the debt from under 60% to almost 90% of GDP

    I dont see why Obama is way worse. All the real damage was done in the back half of the Bush 2nd term. Obama put the wars in Iraq and Afghanistan on the books, something Bush didn't do (all emergency spending).


    [IMG]http://i.dailymail.co.uk/i/pix/2011/07/21/article-2017070-0D17F7B800000578-27_468x298.jpg[/IMG][/QUOTE]

    You should review the chart more carefully. The major bounces came in 2009 and 2010. Trend started going south in 2006 when democrats took over the house and senate.

  4. #4
    [QUOTE=chiefst2000;4065249]You should review the chart more carefully. The major bounces came in 2009 and 2010. Trend started going south in 2006 when democrats took over the house and senate.[/QUOTE]

    reagan took it from 30% to 50% and everyone loves that dude

  5. #5
    [QUOTE=bitonti;4065285]reagan took it from 30% to 50% and everyone loves that dude[/QUOTE]

    He was the man no doubt. Conventional wisdom is that the Arms Race of the 80's is what brought down the USSR and as such ended the cold war. Unfortunately that meant spending money. Reagan did however institute policies that helped us usher in the prosperous era of the 80's and 90's.

  6. #6
    [QUOTE=chiefst2000;4065292]He was the man no doubt. Conventional wisdom is that the Arms Race of the 80's is what brought down the USSR and as such ended the cold war. Unfortunately that meant spending money. Reagan did however institute policies that helped us usher in the prosperous era of the 80's and 90's.[/QUOTE]

    yeah but in retrospect having 1 enemy the USSR was better than having 1000 little terrorist enemies. It was simpler at least.

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