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Saturday, Oct. 27, 2012 | 2:02 a.m.
Another view?
View more of the Las Vegas Sun's opinion section:
• Editorials - the Sun's viewpoint.
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Have your own opinion? Write a letter to the editor.
Everyone is harping about President Barack Obama being the cause of the national debt. Everyone thinks a Republican president will turn the tide. Let’s look at the facts that anyone can verify at the Treasury Department’s website.
Look at Presidents Ronald Reagan and George H. W. Bush. In 12 years under these two Republican presidents, the national debt went from $900 billion to $4 trillion. Under Democratic President Bill Clinton, the national debt went from $4 trillion to $5.6 trillion, an increase of only $1.6 trillion in eight years. Under President George W. Bush, it went from $5.6 trillion to $10 trillion — nearly doubling the national debt in eight years. Going further back, the national debt doubled under Nixon/Ford and went up only 20 percent under Jimmy Carter.
Those who want a Republican savior for the national debt are dreaming. People shouldn’t be deluded into thinking that Republican presidents are better stewards of the American tax dollar because history proves that wrong.
Robert astutely observed that debt has gone UP under all recent president
Under Bush indeed the deficit averaged $500 billion each of eight years
Under Obama the deficit averages $1.5 trillion each of four years
Obama is triple the rate of Bush
Robert, like so many, chooses his facts selectively and revises history to match his agenda. Yes, the deficits & debt of the USA were slowed or halted while "Sick Willie" was president. However, much of the credit must be given to the fact that Republicrats creamed the Dumbocrats in the mid-term elections and "Sick Willie," urged by Dick Morris, "triangulated." "Sick Willie" moved to the center and saved himself from certain ouster when up for reelection. Let's give "Sick Willie" credit for being smarter than the guy with the Cheshire Cat grin who, even though reviled by many for his taking the USA down the Socialist path, continues on his reckless rush towards bankrupting the United States of America. Osama Obama is no Bill Clinton and that's a good thing. Hopefully, it will send him back to Crook County Illinois where he belongs after the November election. I'm sure he'll feel much more comfortable among the crooks there.
All of our Presidents and Congresses should be heavily criticized for running up the national debt. Some had better 'excuses' for doing so than others but 'excuses' should not relieve one of responsibility. Our government could always have raised taxes and or reduced spending to balance the budget... and choose not to.
Our debt is so large now that it threatens our financial well being and is a threat to our continued existence. A 'fair' look at history shows us that neither party has shown an interest in balancing budgets.
Whoever becomes President will not balance budgets. The best we will see is slowing the 'growth' of the debt. If we are smart, we will all INSIST that is no longer good enough and DEMAND that government stop spending more revenue than it receives. If we don't, we will all pay a terrible price.
Michael
The president is only one factor in the equation to bring down the US debt and the deficit. Congress and the American people are the other two. The President had the other 2 on his side for the first 2 years of his term, he squandered it on Obamacare, which by all accounts, regardless of source, will add to both [debt and deficit]. Governor Romney is the best option and alternative that the Americans have to 4 more years of the same old failed policies and practices.
CarmineD
Former President Bush should have taken some tough and unpopular actions to reign in spending and increase revenue to the government. He didn't and had he been able to run for a 3rd term, he would have been soundly defeated by anyone who ran against him... and for good reason.
President Barack Obama should have taken some tough and unpopular actions to reign in spending and increase revenue to the government. He didn't and he should be defeated by a challenger.
It may not work out that way but it should and it should continue that way until we find a President with the guts to make some very tough calls that MUST be made.
Michael
The best stewards of our tax money?
Mitt Romney because he would have protected our ambassador in Libya.
AMERICA IS BANKRUPTING AMERICA
Sure, today we are in a global economy. But, does this give American businesses the right to run for the exits towards China, India and Mexico when they see they can increase their profits by ending the manufacturing careers of many skilled American line-workers?
Japan is a good example. Labor costs are extremely high in Japan. Yet, Toyota invests twice as much in their home country than they do in their biggest market. That would be the United States. The Japanese could close their car manufacturers in Japan, and move their operations to China. It is estimated Japanese businesses would save at least several thousand dollars on every car made if they did -- but, they don't. Why? They are loyal to their own country. American businesses are not loyal to their country. So, here we sit in the midst of high unemployment and deep financial troubles. The lack of loyalty is not only wrong, it's embarrassing. The world is laughing at us.
Now, I'm going to walk away from the subject of "American Greed In Business", and focus on another form of America greed -- the consumer. It doesn't take a genius to figure out Communist China's plan to attain economic superiority and dominance over the United States. One would think, in Communist China, with cheaper labor, low overhead costs, few if any environmental restrictions, and minimal shipping costs, goods made and sold in China would be extremely cheap. This is not so. In fact, prices of the same Chinese goods made in China, and sold in their country are significantly higher there than the prices are for these same goods imported here in the United States.
Does anybody have the common sense to see Communist China's game plan? Their plan is working quite well, and the American consumer is giving it to them on a "silver platter". It is just utterly amazing to me that a significant percentage of Americans will spend a large sum of money over the course of a calendar year on organic foods; in which the myth is, organic foods are healthier than non-organic foods, but refuse to spend extra dollars in buying goods that are made in the United States that would stimulate economic growth and expansion. Hell, at the least American consumers, if they don't buy American could buy products and goods from origins who are not communist, and don't manipulate the dollar.
Stupid, stupid, stupid!!! America is bankrupting America!!!
I'm retired, old, and worn-out. I've taken all the gruff and curt remarks in these discussion forums that I'm going to take. The bottom-line is, I no longer care. Continue on the path you are on America. I hope you all will enjoy being nothing more than servants to the coming "Communist Economic Empires".
Nothing like feeding the tigers who will eventually eat America alive!!!
crhurch333@ 5:26 am
The most stupid comment I've read on here in years.
BChap:
Don't give up. Remember, over half of our population are intelligence-challenged. That is why the Romney political machine has been successful mostly with those people. They stubbornly hang on to their beliefs because they lack the capacity for thorough analysis and research in addition to their biases and prejudices. They hear it on T V, it confirms the only idea they know, and they hang on to that idea as the only truth.
If they win, think about how we survived under Bush Junior. We will survive this too.
We choose democracy and we deserve what we get, both good and bad.
Robert Bencivenga conveniently omitted Obama's deficit spending of over $1 trillion dollars in each of the last four years. Yet more proof that democrats can't use Obama's poor economic record to support his re-election efforts.
Why would anyone think that the budget should or could have been balanced in four years under Pres. Obama. No Pres. before (Pres.Obama) him were able to do it.
Even V.P.Republican running mate Paul Ryan put together a plan that would balance the budget in the year 2040 that's twenty eight years from now (source) .www.theamericanconservative.com/.../how-draconian-is-the-ryan-pla...
It does not matter who gets elected President,balancing the budget is a long hard struggle. Past Presidents have shown this to be true.
When people try and scare the public about President Obama's record without providing the full picture, it works to a degree. However, it does not work in the overall picture.
President Obama wins re-election by 6 to 8 points.
Longtimevegan,
It was the letter writer that didn't present the full picture. Omitting Obama's deficits of over $1 trillion dollars each year in office is a glaring omission designed to divert attention from Obama's poor economic record.
Republican presidents Reagan, GHW Bush and W all have one thing in common: they professed to be small govt conservatives but were responsible for growing big govt while ballooning the national debt to levels never imagined before.
Bush told us the Iraq debacle would be paid for by Iraqi oil revenue, but guess what? It's the American taxpayers (again) left holding the trillion dollar bag after the faied Bush / Cheney regime was run out of town with 28% approvals in 2008.
Some things never change.
Bradley,
Very well said,profit and greed are the driving forces behind the exit of American companies with U.S.job losses to China, and other countries.You have spelled it all out for us to read.
Let's hope we the American people wake up before we reach a point of no return.
How in Hell can anyone speak of stewardship regarding a centralized government with the monopoly privilege of creating fiat currency at will, with absolutely no accountability, and the coercive power to take everything from us, including our very life? The quote, "absolute power corrupts" is undisputed. Yet we idolize our elected officials, placing them upon pedestals and give them hero-worship praise when they have caused so much suffering and needless loss of life, believing they have made us safe and delivered us from calamity, all for the so-called benefit of society and the failed god we call democracy. And we still have the audacity and economic ignorance to use the term, "stewardship".
We are consumed with political ideology. Much time and labor is spent making sure our favorite idols get placed upon that pedestal. We are heading in the direction that no political ideology wishes to change, naively having us believe they can steer the ship after it has gone over the falls. At the ultimate end is the collapse of the entire monetary system. For through fiat currency and fractional reserve banking, which is the source of unbridled power, the seeds of destruction have been sown. No political will can alter economic reality.
Bradley is right in much of what he says. Businesses in some nations do invest at home more than businesses in America. He is also correct about American consumers being cheap and greedy.
But the questions that must be asked are these:
In Japan for example, is it culture or government control or both that causes businesses to be more 'patriotic', shall we say than businesses here? Once we find out, do we want to emulate that? Can we emulate that?
Are American consumers willing to pay the high prices for goods and services produced here? If not, are we willing to have government force this issue?
Those are key questions and issues that must be addressed by every American and by government.
Michael
Hey Chuck,
Monday Morning Quarterback? HUH?
Republicans are ALWAYS pointing fingers after the fact! Where are their plans? I know, never mind, they do not have plans only bullet points.
Remember Republican Rule#1: Accuse the other guy of doing exactly what you are doing! That takes BRASS! :)
The level of economic ignorance that is displayed here and repeated day after day, in thread after thread, which demonizes the profit motive and assigns "greed" to the motive behind countless, educated business decisions to increase profit is very disheartening. And a weak-minded cop-out in the advancement of human knowledge. That so many are unable to comprehend how the system that determines the best utilization of scarce resources actually accomplishes that tast, and thus being ultimately responsible for our modern and civilized society, is disgraceful and testament to statist group-think that keeps us mired in the status-quo.
So now it American consumers who are cheap and greedy?
It is comments and beliefs like these that disgust me to no end! What shameful arrogance!
Do you think the millions of people that shop at Walmart are just cheap and greedy? NO! They are trying to provide for the immediate well-being of themselves and their families. It is imperative for their survival that they get the most and best value for their dollars, while at the same time the government is actively destroying the value of those dollars and imposing an ever-increasing burden on business in being able to produce goods cheaply enough for those consumers. In being "cheap and greedy" as you say, Americans also SAVE money, which is how an economy is able to GROW and INNOVATE.
Your comments are anti-social and not conducive to intellectual discourse. And you should be banned from this forum.
Future - "Obama is triple the rate of Bush"
Paying off the Bush wars, the Bush tax cuts and a $500 billion Bush handout to big pharma. Yes Obama has added to the deficit, but any reasonable person would understand the debt that occured under Bush is still taking a toll on our economy. Many economic bills are enacted with the idea they will last ten years or so.
Do we keep talking and talking or do we DO SOMETHING about it? Keep pointing fingers, or DO SOMETHING? What to do? STOP spending. Eliminate non-essential programs and cut spending everywhere else. Reform the tax code so that everyone pays something. Eliminate refundable credits.
Pat,
Many Americans shop at Walmart because they don't make much money, but many Americans that don't make much money have Iphones, new cars and high credit card debt. Generalizing is always dangerous and inaccurate but it is a fact that many Americans make terrible financial choices and live far beyond their means.... not all... but many.
Michael
Vernos,
No 'Fair' minded person expected President Obama to balance every budget and reduce the debt to zero in four years. The issue is that many 'fair' minded people also did not expect to have the the Senate produce no budgets in four years, see deficits of over 1 trillion dollars a year for four years and see the debt increase by six trillion dollars over four years.
I expect to see the President re-elected in a close race and when it happens, I will shake my head and find it almost unbelievable that it did happen.
Then I'll pick myself up and go on because I'll have no choice.
Michael
"Your comments are anti-social and not conducive to intellectual discourse. And you should be banned from this forum."
Wow! It's Pat!
It is a good thing I am one of the "intelligence-challenged" or I might be offended by one comment and angered by the other. Which is which is immaterial.
Author, you blame prior presidents. That's simply a diversion...an excuse.
I did my part and I proudly voted for President Barack Obama and the entire D ticket!
My husband did his part and did exactly the same thing!
OBAMA/BIDEN 2012 for a better future
Robert....Great letter.
YES, DEMOCRATS are the best stewards of our tax
structure, our economy, our middle class and the
poor.
The fact and proof can't be disputed.
DEMOCRATS FOREVER!!!
kepi......
I did my part too.
My entire family proudly voted for
PRESIDENT OBAMA and the entire D ticket.
FOUR MORE YEARS FOR PRESIDENT OBAMA!!!
Republican incompentence handed PRESIDENT OBAMA
THE WORST ECONOMY since the GREAT DEPRESSION.
Of course it will take more than four years to
completely fix and PRESIDENT OBAMA has done a
great job fixing the republican crash,
He saved GM and CHRYSLER, over a million jobs,
right there.
Over 5 million private sector jobs have also been
created.
And in the next 4 years, 5 to 8 million more new
jobs will be created under PRESIDENT OBAMA.
For a total of more than 10 to 18 million new
jobs created,
Not too bad.
"And in the next 4 years, 5 to 8 million more new
jobs will be created under PRESIDENT OBAMA."
Mr. Teamster:
Is that before or after GM pays back American taxpayers the $55 BILLION we gave them?
Sure won't be from the sale of Volts, the car President Obama showcased that sold for $43,000 and then GM dropped the price by $10,000 after shuttering and retooling the plant twice in Tramahanack, Michigan to build other models. And not counting the $7500 tax subsidy credit.
Did I mention that the company that built the Lithiom Ion batteries for the Volt went belly up. Even after Obama gave them billions. And the second company that makes the batteries, also funded by Obama, is insolvent too.
CarmineD
The best stewards of our money is US. I expect my representatives to NOT authorize funding for any program that I would not personally fund from my pocket. Time for them to CUT BACK, to cut way back on spending.
Fink and Robert: Our demographics were clear during the Clinton years yet no provision or corrective spending plan was put in place knowing full well we have Boomers ready to retire and young single moms (and illegals) chucking out babies and babies and more babies without (parental) pretense of supporting them.
Carmine.....
Get used to four more years for PRESIDENT OBAMA.
We're not going backwards to anti-science
republican ignorance.
And get used to battery powered cars, they are
the future.
Mr. Teamster: On battery powered cars, they ahve been around since as long as cars. Can't compete with gas for power, performance and price. Unless and until the batteries are perfected they never will.
President Obama picked the Volt as his preferred transporation by personally launching it in Detroit. Its failed on all accounts. This alone is enough of a reason, if I and others needed one, not to give him another 4 years. He, like you, pick losers. Governor Romney picks winners.
CarmineD