Showing posts with label National Debt. Show all posts
Showing posts with label National Debt. Show all posts

Monday, March 5, 2012

Reagan Raised Taxes and Spending More Than Obama

Under President Obama, government jobs have disappeared, particularly at the state and local levels.  The unemployment rate would probably be lower than 7% if government jobs now kept pace with the number of government jobs as a share of the entire economy from the Ronald Reagan Presidency.   There would be 1.3 million more government workers in teaching, responding to emergencies, and keeping our streets safe, among other things.  Increasing government spending that raises the National Debt during an economic crisis, often referred to as Keynesian economics, is what historically brings about a full recovery that eventually balances the Federal Budget to pay down the National Debt.  Republicans have referred to Obama as someone who harbors socialist ideas, such as huge government spending, raising taxes, and stifling businesses with regulations.  Ironically, Reagan is much more Keynesian than current Republican political idol, Ronald Reagan, whom conservatives adore for his small government and lower taxes rhetoric.  State and local governments, under Reagan, invested in education and infrastructure to support a growing population.  Also, Reagan boosted military spending to deal with foreign security threats.
http://www.nytimes.com/2012/03/05/opinion/krugman-states-of-depression.html?_r=1

Monday, February 6, 2012

George W. Bush Not Mentioned in GOP Debates (1/20/12)

The GOP Debates have featured its eccentric candidates, American flags, and moderators unable to sway the Presidential contenders away from Republican ideology. George W. Bush, the last Republican President, is something they do not want to talk about, even as he is now three years removed from an eight-year tenure. President Obama got mentioned 560 times in the 16 debates so far, but Bush only came up 56 times. They have brought up Ronald Reagan 221 times, even though it is now over 20 years after his term as President and seven since his passing. Perhaps, Republicans are ashamed and embarrassed by Bush. Or they want to blame everything on Obama. After all, it was Bush who ran up much of the National Debt with the Afghanistan and Iraq wars. The biggest factor in the budget deficits and rise in the National Debt has been his tax cuts for the wealthy, with indifference to reforming the tax code to eliminate loopholes. These tax cuts have proved difficult for Obama to end. http://www.washingtonpost.com/blogs/in-the-loop/post/george-w-bush-in-the-gop-debates-a-taboo-topic/2012/01/19/gIQAmG0vBQ_blog.html

Tuesday, January 31, 2012

Romney Tax Plan Benfits The Rich; Hurts Everyone Else (for 1/6/12)

Mitt Romney's tax plan would help those in the Top 1% the most. Millionaires will get an average tax cut of nearly $150,000. Those making up to $100,000 get small tax cuts ranging from $27 to $490. Those in the middle class would effectively get a tax hike, as everyone at $40,000 or under would have to pay $14 to 191 in extra taxes. It would also increase the Federal budget deficit, causing the National Debt to go up. http://www.dailykos.com/story/2012/01/06/1052212/-Mitt-Romney-tax-plan-would-hurt-low-and-middle-income-Americans,-give-huge-tax-cut-to-wealthy?via=blog_1 http://www.taxpolicycenter.org/numbers/displayatab.cfm?Docid=3256

Monday, January 23, 2012

The Top 1% Cares Most About Deficits, Wants Private-Sector Solutions (for 12/18/11)

Of America's Wealthiest 1%, about 32% thought the U.S. Budget Deficit and Debt is the U.S.'s biggest problem and only 11% thought economic growth/jobs was. Nearly half of all Americans think the economy and jobs are the biggest problem, and only 5% thought the Debt was. The wealthiest 1% often prefer private sector solutions such as philanthropy to the economic problems. But, they often do not engage in more charitable activity, even if they do not trust government. http://fivethirtyeight.blogs.nytimes.com/2011/12/14/the-politics-of-the-1-percent/?hp

U.S. Senator: Good Workers Quickly Advance Beyond Minimum Wage (for 12/13/11)

During a meeting with unemployed constituents, Wisconsin Senator Ron Johnson said, "when you're a good worker, you don't stay at minimum wage for long." He defended his views on keeping minimum wage low by saying that regulations have put too much of a strain on businesses. He does not want to spend on unemployment insurance because of the amount it increased the National Debt.
http://www.huffingtonpost.com/2011/12/13/ron-johnson-minimum-wage_n_1146194.html?ref=unemployment