debt increase under obama
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This is a brief overview of the current state of the U.S. economy, how we got here, and where we are heading.
CURRENT STATE OF U.S. ECONOMY:
HOW DID WE GET HERE?
By just about any rational economic measure, the United States is the envy of the world. It's little wonder why people risk their lives to enter the U.S. for a chance at a better standard of living. The principles behind the U.S. great success story are free capitalism, a Christian work ethic, and a democratic government that adheres to the Constitution which protects our rights. Below is an excellent video essay on the role capitalism played in improving peoples lives.
WHERE ARE WE HEADING?
In only three and a half years, the socialist policies of the Obama administration has increased our federal debt by more than all previous presidents COMBINED. ($4.2 trillion under Obama vs $4.1 trillion accumulated by all 41 U.S. presidents from George Washington through Geore H.W. Bush. The average American relying on federal government assistance now receives more in benefits than the average American’s disposable personal income. That's quite a drastic shift in position from 2006 when he claimed George Bush was an unpatriotic American for inreasing the debt by a fraction of that amount spread over eight years. On the rare occasions that Obama is confronted with these facts by liberal media, his defense is to tout the three million jobs he claims to have created. Even accepting his accounting of number of jobs created, the cost breaks down to over $312,000 PER JOB.
To see the ultimate conclusion to such policies, one need only to look at the recent events in Greece. There, liberal socialist politicians have competed against their opponents by outpromising and outspending them on entitlements. Now, Greece is hopelessly bankrupt and it's citizens are rioting in the streets over the entitlements they can no longer receive. My question: who exactly are they angry at? The conservative leaders that warned them all along of the overspending, or the liberal politicians and unions that promised them the moon just to get their votes?
CURRENT STATE OF U.S. ECONOMY:
Nominal GDP (mesured in billions of U.S. dollars) : 1 United States 14,526,550 2 China, 5,878,257 3 Japan 5,458,797 4 Germany 3,286,451 5 France 2,562,742 6 United Kingdom 2,250,209 7 Brazil 2,090,314 8 Italy 2,055,114 9 India 1,631,970 10 Canada 1,577,040 11 Russia 1,479,825 12 Spain 1,409,946 13 Australia 1,237,363 14 Mexico 1,034,308 15 Korea, South 1,014,482 16 Netherlands 780,668 17 Turkey 735,487 18 Indonesia 706,752 19 Switzerland 527,920 20 Poland 469,401 Average Full Time Year Round Equivalent Gross Wages & Salaries (PPP) 1 United States 51,493 2 Luxembourg 50,610 3 Switzerland 47,810 4 Australia 45,385 5 Netherlands 45,161 6 Ireland 45,160 7 Norway 43,607 8 United Kingdom 43,250 9 Denmark 42,173 10 Belgium 41,923 11 Austria 41,421 12 Germany 37,544 13 France 37,269 14 Sweden 35,582 15 Finland 34,903 16 Spain 32,957 17 Japan 32,816 18 South Korea 32,638 19 Italy 32,121 20 Greece 27,460
HOW DID WE GET HERE?
By just about any rational economic measure, the United States is the envy of the world. It's little wonder why people risk their lives to enter the U.S. for a chance at a better standard of living. The principles behind the U.S. great success story are free capitalism, a Christian work ethic, and a democratic government that adheres to the Constitution which protects our rights. Below is an excellent video essay on the role capitalism played in improving peoples lives.
WHERE ARE WE HEADING?
In only three and a half years, the socialist policies of the Obama administration has increased our federal debt by more than all previous presidents COMBINED. ($4.2 trillion under Obama vs $4.1 trillion accumulated by all 41 U.S. presidents from George Washington through Geore H.W. Bush. The average American relying on federal government assistance now receives more in benefits than the average American’s disposable personal income. That's quite a drastic shift in position from 2006 when he claimed George Bush was an unpatriotic American for inreasing the debt by a fraction of that amount spread over eight years. On the rare occasions that Obama is confronted with these facts by liberal media, his defense is to tout the three million jobs he claims to have created. Even accepting his accounting of number of jobs created, the cost breaks down to over $312,000 PER JOB.
To see the ultimate conclusion to such policies, one need only to look at the recent events in Greece. There, liberal socialist politicians have competed against their opponents by outpromising and outspending them on entitlements. Now, Greece is hopelessly bankrupt and it's citizens are rioting in the streets over the entitlements they can no longer receive. My question: who exactly are they angry at? The conservative leaders that warned them all along of the overspending, or the liberal politicians and unions that promised them the moon just to get their votes?
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