Esquire Theme by Matthew Buchanan
Social icons by Tim van Damme

13

Jan

When congressional Republicans played politics with this issue last time, putting us at the edge of default, it was a blow to our economic recovery. The president and the American people won’t tolerate congressional Republicans holding the American economy hostage again simply so they can force disastrous cuts to Medicare and other programs the middle class depend on while protecting the wealthy. Congress needs to do its job.
White House Press Secretary Jay Carney

(Source: USA Today)

28

Oct

"I hate to say this on Fox. I hope I’ll be allowed to leave here alive, but I don’t think that we can cut spending enough to make a meaningful difference. We’re going to have to raise taxes."

— Conservative pundit Ben Stein

(Source: The Atlantic)

01

Feb


How much has Obama added to the debt, anyway?
There are two answers: more than $4 trillion, or about $983 billion. The first answer is simple and wrong. The second answer is more complicated but a lot closer to being right.
When Obama took office, the national debt was about $10.5 trillion. Today, it’s about $15.2 trillion. Simple subtraction gets you the answer preferred by most of Obama’s opponents: $4.7 trillion.
But ask yourself: Which of Obama’s policies added $4.7 trillion to the debt? The stimulus? That was just a bit more than $800 billion. TARP? That passed under George W. Bush, and most of it has been repaid.

(via WashPo)

How much has Obama added to the debt, anyway?

There are two answers: more than $4 trillion, or about $983 billion. The first answer is simple and wrong. The second answer is more complicated but a lot closer to being right.

When Obama took office, the national debt was about $10.5 trillion. Today, it’s about $15.2 trillion. Simple subtraction gets you the answer preferred by most of Obama’s opponents: $4.7 trillion.

But ask yourself: Which of Obama’s policies added $4.7 trillion to the debt? The stimulus? That was just a bit more than $800 billion. TARP? That passed under George W. Bush, and most of it has been repaid.

(via WashPo)

01

Dec

There’s another game going on way over our heads and our constituents are struggling while the banks with the help of the Fed have captured control of our government. Now the ratings services are threatening us if we don’t come up with a deal they’ll downgrade U.S. debt. Could the threat to our national sovereignty be any clearer? It’s time for Congress to listen to the wisdom of the founders, reclaim its constitutional primacy over monetary policy.

02

Sep

It is not class warfare to suggest that the richest 1 percent of people in society pay one-third of their income to the federal government, as they did under Ronald Reagan. Keep in mind that dividends were taxable as ordinary income every year of his administration, and in the Tax Reform Act of 1986 he supported taxing capital gains as ordinary income as well… The issue is not whether the rich should pay more, but how best to accomplish it.

27

Jun

Obama to meet Senate leaders, keep debt talks alive

President Barack Obama must bridge a wide gap separating his Democrats from Republicans when he meets with Senate leaders on Monday over raising the U.S. debt ceiling, but neither side seems inclined to compromise.

09

Jun

"The Founders did not intend for America to be run by big banks and Wall Street."

06

Jun

fuckyeahradicalcartoons:

Lowering the Overhead
As Forbes points out,  94% of the US debt problem comes directly from policies set during the  Bush administration. At the end of the Clinton administration, the CBO  was projecting a budget surplus of $12.7 trillion, but today the debt  is at $14.3 trillion. How did that happen?  About 50% of that is due to  the Bush tax cuts, and 12% due to Bush’s increased spending for two  wars and the unfunded Medicare prescription drug benefit.
Federal tax collections as a percentage of GDP are the lowest they  have been in over 60 years. But the Republicans refuse to raise taxes.  In fact, they want to cut taxes on the rich even more, which is what got  us into this mess in the first place. If cutting taxes for the rich  creates jobs, then we should be awash in them right now. Bush cut taxes  dramatically, but had the worst job creation in 60 years.
For Republicans to claim that they care about deficits is the height  of hypocrisy. What they are trying to do will more likely destroy our  country.

fuckyeahradicalcartoons:

Lowering the Overhead

As Forbes points out, 94% of the US debt problem comes directly from policies set during the Bush administration. At the end of the Clinton administration, the CBO was projecting a budget surplus of $12.7 trillion, but today the debt is at $14.3 trillion. How did that happen? About 50% of that is due to the Bush tax cuts, and 12% due to Bush’s increased spending for two wars and the unfunded Medicare prescription drug benefit.

Federal tax collections as a percentage of GDP are the lowest they have been in over 60 years. But the Republicans refuse to raise taxes. In fact, they want to cut taxes on the rich even more, which is what got us into this mess in the first place. If cutting taxes for the rich creates jobs, then we should be awash in them right now. Bush cut taxes dramatically, but had the worst job creation in 60 years.

For Republicans to claim that they care about deficits is the height of hypocrisy. What they are trying to do will more likely destroy our country.

14

Apr

Many of you have talked about the need to pay down our national debt. I listened, and I agree. We owe it to our children and our grandchildren to act now, and I hope you will join me to pay down $2 trillion in debt during the next 10 years. At the end of those 10 years, we will have paid down all the debt that is available to retire. That is more debt repaid more quickly than has ever been repaid by any nation at any time in history,

George W. Bush, in his first major address to Congress in 2001.

[The Dish]

(via technipol)

01

Apr

i know, i know, what about obama? let’s not even go there and just acknowledge the facts, k?

i know, i know, what about obama? let’s not even go there and just acknowledge the facts, k?