Do you agree with the supply side bankruptcy of our country?

Question

When George Bush became President the National Debt was 4 trillion dollars. When he leaves office it will be 10 trillion dollars. The Iraq war cost one trillion. Isn't it clear that giving tax breaks to the rich has doomed our country?

http://brillig.com/debt_clock/faq.html

The National Debt is 9.165 trillion dollars.

Answer 1

President George W. Bush and the Congress have literally given away the future of our country. The irresponsible tax breaks for the wealthy and the unnecessary Bush wars have created a disaster for our children and grandchildren.

Answer 2

Its not clear. I do believe that we have inflicted more damage on ourselves then good but there are arguments that say I am wrong. I'll tell you what I know and you can decide for yourself.
We have accumulated almost twice as much debt, no one (of consequence) is denying that. The argument is that we have increased the productive ability of our country by a greater amount then the debt accrued.
If we were talking about an individual then what they are saying is a guy owed 4 thousand dollars and made about 7500 a year. He borrowed to develop his business and now owes $10,000 but makes $13000 dollars a year Make those thousands into trillions and that is about what we did. They say we have grown and it looks like we have.
Like I have said all along this is the argument but there is another argument to consider. As our debt increases, our ability to borrow decreases and the value of our money decreases as well. A lot of the supposed profit is actually inflation. Our GDP may be 13.1 trillion dollars but those dollars are worth a bit less then they were in 2000. The Euro is already worth more then the dollar and that means our purchasing power is less then it was. We are not bankrupt but were not doing as great as many people think either. From what I can tell we are slowly losing ground. Not as fast as many people think because of the way the debt has expanded but we still have a problem.

Answer 3

and your sources..are?? congress spending social security already taken from the citizens and promised is the largest entity in the National debt

As of November 29, 2007, the total U.S. federal public debt held by the public was $5.12 trillion.[1]


This does not include the money owed by states, corporations, or individuals, nor does it include the money owed to Social Security beneficiaries in the future. If money borrowed from the Social Security Trust Fund is included, as well as borrowings from other accounts already funded by US taxpayers, the debt figure rises to over $9 trillion.[2]In 2005 the public debt was 64.7% of GDP According to the CIA's World Factbook, this meant that the U.S. public debt was the 35th largest in the world by percentage of GDP.[3][4]

It is important to differentiate between public debt and external debt. The former is the amount owed by the government to its creditors, whether they are nationals or foreigners. The latter is the debt of all sectors of the economy (public and private), owed to foreigners. In the U.S., foreign ownership of the public debt is a significant part of the nation's external debt (see also below). The Bureau of the Public Debt, a division of the United States Treasury Department, calculates the amount of money

Answer 4

On some points yes....are you admitting that there was NO SURPLUS when Clinton left office?? How will other democrats and liberals take the news? You do know congress controls the purse strings...right?