News Link  •  Economy – Economics USA

This Chart Showing That Most Debt Growth Came Under Republican Presidents Is Accurate, But…

09-03-2012   http://www.businessinsider.com, Henry Blodget 

The chart, which, notably, was produced by the Office Of The Democratic Leader, shows the amount the U.S. debt expanded under each President since Reagan. It shows that the debt increased far more on a percentage basis under Republican Presidents Reagan, Bush, and Bush than under Democratic Presidents Clinton and Obama.

However, for several reasons, the chart is not particularly meaningful, as the myth-busters at Snopes.com make clear:

Two of the Republican Presidents–Reagan and Bush 2–had two terms, and in an economy that is running at a deficit, you’ll accumulate more debt over two terms than one. Importantly, of course, Democratic President Clinton had two terms, and he accumulated the least debt of any of these Presidents. Incoming Presidents inherit the spending and taxing policies of their predecessors, as well as their economies. So a lot of what happens early in Presidential terms should be laid at the feet of the predecessor. Congress plays a big role in spending and debt creation. Debt analyses are most relevant on a debt-to-GDP basis. This chart shows the change in debt in absolute dollars. Percentage changes are less meaningful when dealing with small numbers than they are with big numbers. Bush 2. The chart only goes through the end of 2010.

So, yes, the chart is basically accurate, but it’s not particularly meaningful.

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GOP Shocker: Value-Added Tax Plank

09-04-2012  •  Barron’s

The 2012 Republican Platform calls for a complete overhaul of the federal tax system. No surprise there. But then it endorses a value-added tax or national sales tax as one possible solution to the nation’s budget problems. This is shocking. 

clip_image002…WHY…?  Because Arizona Governor Jan Brewer ha$ campaign IOU’s to pay off … at our expense of course …

Why are we building private prisons when crime is down?

09-02-2012  •  Arizona Republic

On Friday, the state of Arizona plans to award one lucky – or perhaps just well connected — company the contract to build and operate 1,000 private prison beds for medium security

…Who’s Responsible For the Explosion In Government Spending…

Who’s Responsible For the Explosion In Government Spending

Mention anything about the US’s huge debt, deficit, and debt-ceiling problem, and fans of both political teams will immediately begin shouting at each other.

Republicans howl that the whole problem is the fault of President Obama, who exploded federal government spending the moment he took office.

Democrats, meanwhile, blame massive increase in federal government spending during the Bush years and the triumphant assertions by Republicans during those years that "deficits don’t matter.")

Federal government spending has risen under President Obama, mostly because of the $800 billion stimulus designed to offset the massive recession he inherited from President Bush. But the increase in federal spending under Obama is dwarfed by the colossal increase under President Bush.

Don’t believe it?   …Let’s go to the chart.     Here’s Federal Expenditures from 2000-2011 (quarterly figures, annualized), from the St. Louis Fed:


As you can see, from 2000 to 2008, under President Bush, Federal spending rose by $1.3 trillion, from $1.9 trillion a year to $3.2 trillion a year.

From 2009 to 2011, meanwhile, under President Obama, federal spending has risen by $600 billion, from $3.2 trillion a year to $3.8 trillion a year.  It has also now begun to decline.

In other words, federal government spending under President Bush increased 2X as much as it has under President Obama.

So, who’s responsible for the explosion in federal spending?

Read more: http://www.businessinsider.com/government-spending-2011-7#ixzz25RJPhHGM

HEY … they $aid they were $orry …



clip_image002 50 years too late… thalidomide drug maker issues an ‘apology’ to victims

(NaturalNews) Remember thalidomide, developed for morning sickness and prescribed to pregnant women in the 1950s and 1960s? The aftermath of this Big Pharma fiasco left around 10,000 reported babies born with malformed limbs and missing arms or legs….