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Labhead
Labhead
1868 posts

Re: debt, budgets, when Obama's policies take affect, compounding interest

Bytor Peltor wrote:
You are so correct about Bush and a 4th grader. Odd thing is, Obama has done little to change what Bush set into motion during his eight years. After one year in office, Gitmo is still up and running and our troops are nowhere close to coming home. It's nice that Obama has called for a "freeze" on federal spending. What most fail to realize is most federal budgets were doubled / tripled in size his first year in office so calling for a "freeze" isn't really as his administration makes it appear.


Here's what people don't realize: Bush left us in a HUGE hole of debt (he left us with around 3.7 trillion in annual actual spending in his last year), and Obama's policies take a while to kick in. His policies weren't immediately put into effect upon being sworn in, it takes time to re-write law, etc, the legal way. Obama's budget only increases that amount up to 3.83 trillion projected for next year and don't forget he's been dealing with 2 wars he was handed, one of them illegal/unneccessary which Obama's pulling out of by August of this year. Ever hear of compounding interest? When you're in a huge hole of debt, you're paying a massive amount on interest (and maybe penalties or loss of dollar value which started big-time under Bush). Starting to get the picture?

I knew even before the election that the next president was screwed, and maybe impossible to save America. Obama's one guy, doing the best anybody could probably do. In about 1/4 of the time, he's completed about 1/4 of his campaign promises, and that ain't bad.

Bush was the biggest spender since LBJ:


Feb 04, 2010, 04:40



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