How the U.S. Got $14 Trillion in Debt and Who Are the Creditors

[ErikJ]

Very nice graphic in NY Times this morning. Notice Republican Pres Reagan/Bush 1 and Bush 2 responsible for $9.5 of the $14 Trillion debt.
And really their policies are to blame for the rest because we are still stuck with
Bush/Reagan Supply-side economic tax cuts on the rich,
Bush wars,
Bush Medicare Pt D Prescription bill
and of course the effects of the Republican/Wall Street caused 2007-9 recession in lost revenues and automatic spending, like unemployment compensation.

http://www.nytimes.com/interactive/2011/07/28/us/charting-the-american-debt-crisis.html?src=ISMR_HP_LO_MST_FB

The Republicans are blaming this debt on the Democrats. Heard Fox Hannity say yesterday "this debt is the Democrats fault". Nobody said a thing. Dont let them get away with it.

[Amonester]

1. And theiR solution is 'deep in a hole? dig deeper, keep projecting'

WHile the real solution is so obviously staring straight in everybody's face:

"I am a small business owner. Most years I make over $250,000 a year, and you know republicans keep on saying they can’t tax the wealthy, they’re the job creators. Ed, THEY’RE WRONG."

"As a small business owner, I am not a job creator! The MIDDLE CLASS in this country are the real job creators, those people making $30,000, $40,000, $50,000 a year. Ed, you know two-thirds of our economy is driven by consumption. That consumption is not being done by the top 2%. It’s the vast middle class. People listening have to understand that businesses exist to create profit. You have to make businesses hire by creating DEMAND for their goods and services. We have a DEMAND PROBLEM in our economy, NOT a cash problem for businesses. Business owners, wealthy people, they DON’T need more cash."

E.S & D.K. on MSNBC video: http://www.msnbc.msn.com/id/21134540/vp/43921037#43921037

[ErikJ]

9. Oh yes! I heard that yesterday on the radio.

Excellent. I think I heard it on Thom Hartmann.

[Amonester]

10. I've been looking for it in the DU video forum and couldn't find it then.

It's there now and has more than 20 rec's. Please let's help get it to top of the GP:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x604294

SEND TO WHITEHOUSE!

EVERYBODY PLEASE HELP STOP them DIG US DEEPER!
COUNTER ATTACK WITH A SOLUTION THAT MAKES PERFECT SENSE!
DON'T LET THEM shrink THE ECONOMY AND THE MIDDLE CLASS MORE THAN THEY'VE ALREADY DONE!

ENOUGH!

[no_hypocrisy]

2. Y'know, if the debt had remained at $9.5 trillion under Obama, Boehner and the rest of his colonial

army would have been meming that Obama spent the entire $.9.5 trillion, leading us to imminent ruin.

[divvy]

3. The Republican Bastard created a debt bomb .... here's the proof

You will notice that in 2010, the average maturity of ALL outstanding U.S. treasury debt was a little over 5 years. During the worst recesson on record, tax revenues dwindled while obligations continued to matured.

So during the bush years, the US government only paid the interest on the bond sales or about 3 dollars per hundred per year. Now the principal must be returned to the investor which is the face value of the bond. President Obama has been forced to refinance Republican debt. This is the problem



Google US Treasury quarterly refunding chart, go to 2010 and see page 7

[midnight]

4. K&R

[goddess40]

5. Thanks,

I'm going to make some charts for our fair booth

[Historic NY]

6. So thats where the posting trolls are getting their misinformation from FOX this AM.

it must be so FOX told us........one clown said the present administration ran up 4 trillion in 2 yrs compared to Bush's 5 trillion in 8 yrs....what morons.

[Earth_First]

7. Can we make an aside here and point out that 6.1 trillion was accumulated during the "W" tenure? n/t

[MilesColtrane]

8. This is what happens when you give a drunken chimp the keys to the country.

If Bush hasn't driven a stake into the heart of this country, he has fucked it for at least another ten years minimum.