GayPatriot

The Internet home for American gay conservatives.

The Reality of America’s Finances

by

That’s the title of a nice post recently from Jon Gabriel at FreedomWorks.

America’s fiscal crisis is not that our debt ceiling was too low, the fiscal crisis is that our debt is too high. When I mentioned this to left-leaning folks, they seemed indifferent…So I made this infographic…

RTWT. As a further tease, here is Mr. Gabriel’s graphic:
America's finances: deficit, revenue and debt

ADDENDUM: Gabriel notes one leftie talking point that’s been making the rounds, “Obama lowered the deficit.” Umm, not really!

First, President Obama’s annual deficits are still larger than President Bush’s were. (Count the FY2009 deficit as Obama’s because his signature is on that budget, not Bush’s. In 2008, the Democrat Congress deliberately held back the FY2009 budget from Bush’s signature, so that Obama could sign it in early 2009 with lots of so-called “stimulus” spending added. Not fair to make Bush responsible for that. Also, even aside from that, Obama’s average deficit is still vastly larger than Bush’s average.)

Second: actually, the Tea Party lowered the deficit. In 2011-13, they have dragged Obama reluctantly into the sequester budget cuts – which Democrats officially haaaaaaaate, remember? Don’t mix up your talking points, lefties! 🙂

Comments

  3. Great visual ILC. When one looks at that graph and contemplates, as Ted B. points out, that to pay off the “credit card” debt, which is over 6-times income, coupled with an UNFUNDED U.S. liability of over $126 trillion dollars, that our economic system(if you can call it that) is mortally doomed to implode at some future date. There is no republican, conservative or democrat alive or dead that can stop the inevitable. Short of wholesale confiscation of all personal assets held in the hands of U.S citizens, this unsolvable predicament will lead to the demise of the Great American Experiment:

    http://www.heritage.org/research/commentary/2007/07/the-american-experiment

    There are other solutions though. The hyperinflation method practiced by the Weimar Repulic to pay for the large debt of World War I is an example of one alternative method. Alas, we all know how that one ended!!!!

    My guess is that some future generation will actually combine the two. I can see some liberal/progressive entity esposing confiscation of all 401K/retirement assets, coupled with a wild money printing scheme to bring on a “manageable” hyperinflation. Oh $hit, my-bad, I forgot, they are already trying that.

    Oh well, back to the drawing board.

  5. KCR – Yeah, yours is good and I almost used it. Thanks for posting!

    As to whose watch these things happened on… It is wrong of everyone, really, to tie it to the President. By the Constitution, Congress has the budget power. And Clinton was held in check by GOP Congresses. Bush’s deficits only got big (by today’s standards, at least) at the end, when a Democrat Congress got to work. And, to the extent that “Obama has lowered the deficit” today, it’s partly because of the Tea Party who forced budget cuts on him.

  6. KCRob, not wanting to get into a serious Clinton vs. Bush vs. anyone debate – but the ONLY reason Clinton showed any ‘Pause in the rate of growth” was because Newt and the Republican congress elected in 1994 as a result of his wife’s attempt at socialized medicine backfired and he was dragged kicking and screaming(along with his oval orifice hi-jinks) into a more “balanced” approach. He did squat.

    The real proof was in the stock market. After the 1994 election the market went from just over 3,000 to over 11,000 by March 2000 – then the bubble burst. He likes to take credit for the Dot Com market of the late 1990’s, but the REAL spark was the Republican congress.