Fri, Oct 31, 2014, 6:28 PM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Pfizer Inc. Message Board

  • patriotforfreedom@att.net patriotforfreedom Jul 26, 2014 7:52 AM Flag

    So can any demorat answer this question--what was the national debt July 4,1780 --prob not.

    So can any demorat answer this question--what was the national debt July 4,1780
    --prob not. But when Obama took office it was $10 Trillion and today it is $17.6 Trillion and Obama does not even care. He wants to wreck our country....Period. Obama failed simple math. What an incompetent President he truely is.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Ya, WHY? The debt and the deficit did not just arrive one day, like mushrooms that just pop up one day after
      some rain. The problem that the government faces is that all of that debt was created by Republicans. When Mr. Bush came into office in January 2001, there was no deficit at all, there was a 100 BUSD surplus, and the debt was a fraction of what it is today. Within in just a year or two the surplus vanished and the debt and deficit were skyrocketing. Mr. Bush and the Republican controlled congress had launched two wars but did not want to raise taxes to pay for them so they borrowed all of the money. Mr. Bush of course believed that the oil revenues from Iraq would pay for the cost of the war, which of course did no happen.
      On top of all of this, Mr. Bush introduced the Medicare Part D prescription drug plan which cost billions of dollars (with an eye to buying some votes) but again refused to raise taxes to pay for this bill. Let us go a step further, on December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, (H.R. 4853) a bill passed by the Republican controlled house that extended tax cuts to the wealthiest Americans while extending unemployment benefits to millions of Americans. It does not take a mathematical genius to realize that if benefits are extended and taxes cut, the deficit will be increased. So, explain how Obama is incompetent by presiding over the largest increase in the DJIA, S&P ever?

      The deficit is the difference between expenditures and revenues. The debt is the sum of all the deficits, minus the surpluses, since the country began.
      Debt owed to the public is a little less than $12 trillion. GDP in current dollars is about $16 trillion, so the national debt is about 75% of GDP. Even by the now discredited austerian standards, that’s a safe level of debt.

    • Its just paper.

    • You are right patriot. By running the country into the ground, Bush sure spoiled it for Obama. You're one of the few on this board that has ability to understand the headache Obama has in rectifying the miserable disaster Bush created.

    • Get a life.

 
PFE
29.95+0.11(+0.37%)Oct 31 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.