Obama’s approach to “saving” the economy is pure Leninist Communism
The facts are that the “working class” in the US is really two classes:
First Class are the Democrats who both as individuals and legislators spend more than they earn and are deeply in debt
Second class are the Republicans who as individuals and legislators save by spending less than they earn
Inflation rewards the Democrats/debtors and punishes the Republicans /savers by stealing the value of our savings and paying us nothing on our savings and then raising taxes on our investment income
Inflation is a regressive tax that steals from savers and rewards debtors
And that destroys every economy
Inflation cause wars and revolutions and one term Presidencies.
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I must object to your characterization that “Republicans who as individuals and legislators save by spending less than they earn.”
Three facts:
(1) Of the nation’s $11 trillion in federal debt, almost $9 trillion accumulated under Republican presidents.
(2) Going all the way back to Truman, federal spending has risen faster under Republican presidents than Democratic ones.
(3) Statistically, there is no difference in the rate of growth of federal spending with Congress under Republican, Democrat, or mixed control.
The conclusion: Republicans spend money as recklessly as Democrats, and certainly “as legislators” do not “spend less than they earn.” The only difference is that Democratic spending is more funded by taxes, and Republican spending is more funded by debt.
Conveniently, you left out FDR who created the entitlement programs that account for more than half of all federal spending, and accounts for most of the growth in spending..
You also conveniently left out Democratic control of Congress. Unless I misread the Constitution, it is Congress the spends?
Perhaps Obama’s spending, that will more than triple the debt, is also irrelevant to you?
No, I do recognize that FDR left the legacy he did, and I do recognize that Democrats control Congress. My point is that Republicans, when given the chance to adopt conservative fiscal policies, have chosen to increase spending at the same rate or more than Democrats. Believe me, I am no fan of Democratic budget policies. But I do think the Republicans have somehow created the false impression that they represent some kind of conservative alternative, when the historical record does not support that.
(Small sidebar: Obama inherited a $11 trillion federal debt, with increases running at $1 trillion a year. The CBO estimates that deficits will continue at $1 trillion annually [http://www.usatoday.com/news/washington/2009-03-20-federal-deficit_N.htm]. That will mean a $4 trillion increase in a $11 trillion debt… hardly a tripling. But, hey, even if it isn’t true that debt will triple, we are awash in red ink no matter how you look at it.)
Thank you! Perhaps I am in error, but I thought I saw a CBO ten year analysis that started with a $2.7 trillion deficit in this year alone, and ending with an ANNUAL interest bill that exceeds last year’s total budget?
Might I confess to a bias?
My bias is that both parties have degraded to such a low level that all incmbents should be voted out of office.
As for giving Obama a chance, I really truly wanted him to give us new life.
But what he has done already, from re-appointing the Clinton regime, to a totally inane economic blundering, to expanding our Mideast troop levels even above Bush’s, convinces me he is even dumber than his predecessor, only read the teleprompter whereas Bush winged it badly.
They are all garbage and we are in total trouble.
Perhaps you and I share a common view in at least one respect. Compared to the vast disconnect between the political class and “real America,” the distinctions between Republicans and Democrats are laughably small.
They put on this great theatrical drama to hold us enthralled, and then all go out to dinner together, doing one of those “mwaaa haaa haaaa” evil-laughing, hands-rubbing-together things. “Good performance, everybody! We dulled the senses of the people for another day!”
Absolutely right!
Everyone in Washington is corrupt beyond redemption.
Our Founding Fathers opposed the two party system. George Washington opposed any political party, believing that each candidate, every proposed law, adn every act of government should be debated on its own merits withut the corruption inherent in accumulating power within parties.
Thank you for your comments.
Agreeing on some points and disagreeing on others is what makes us great.