BrainKing - Discussion boards (Politics)

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Politics

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2. September 2010, 08:40:47

Übergeek 바둑이

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Subject: Re:

Artful Dodger:

> Did you NOT see how much money that idiot is borrowing against our future?
> Did you not see the comparison over the last 200 plus years vrs his 19 months in office?

Is that Bush or Obama? The truth is that every president has always borrowed more than the previous guy, even Bill Clinton, who ended with a surplus, borrowed more than the previous administrations. George W. Bush borrowed more than any president in history. That information you posted a while back assigned to Obama the bailout for the banks, and that was George W. Bush's idea. Obama merely enacted a lot of policies born at the end of the Bush administration in agreement with the Federal Reserve. In that sense it is unfair to blame Obama for a lot of policies generated in a Republican administration.

3. September 2010, 05:55:58

Papa Zoom

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Subject: Re:

Übergeek 바둑이: Bush isn't the President.

Please do the math. In 234 years, we borrowed 9 trillion dollars. That's 12168 months. That's a Trillion every 152 months or every 12.6 years.

Obama has borrowed 3.5 Trillion in just 19 months. That's 2241.5 TRILLION over the 234 years. It's NOT just a little more than Bush, it's significantly more. It's insane. It's more than ALL other past presidents COMBINED.

3. September 2010, 11:25:36

Mort

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Subject: Re:Please do the math. In 234 years, we borrowed 9 trillion dollars. That's 12168 months. That's a Trillion every 152 months or every 12.6 years.

Artful Dodger: !!!!!!

If you were to do the math PROPERLY... then you'd understand that this statement is as accurate as the old idea the Earth is at the centre of the universe.

$1,000,000 234 years ago is not the same as $1,000,000 now. For things like inflation the actual value of something bought, sold or borrowed, has to adjusted to allow for time. The dollar today (same with any currency) just ain't worth what it was back in da old days.

I used an online inflation calculator and it came up .....

... If you bought something in 1940 for $1000 it would cost, due to inflation.... $15,572.21 in 2010...... a rate of inflation change of 1457.2%

http://www.coinnews.net/tools/cpi-inflation-calculator/

3. September 2010, 17:10:22

Übergeek 바둑이

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Subject: Re:

Artful Dodger:

> Obama has borrowed 3.5 Trillion in just 19 months.

Enlighten me. How much of that was for the bailouts for the banks? And who came up with the bailouts in the first place?

3. September 2010, 18:57:35

Papa Zoom

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Subject: Re:

Übergeek 바둑이: It doesn't matter what that money was for. What matters is the larger point. Reckless spending. And even while there is no money to pay for it, and the public at large is against it, Obama and his lemmings pass the huge (and unread) Health Care Bill (for which there will not be enough money to pay for the monster).