If it wasn’t ludicrous, it would be a comedy skit.
Liberals blame Bush for the staggering US deficit and Republicans retort by insisting Obama jacked it up.
It should be noted Clinton did not end his administration with a surplus. Figures compiled by the Treasury bear this out. In fact, far from a $360 billion reduction in the national debt in FY1998-FY2000, there was an increase of $281 billion. The Clinton surplus was smoke and mirrors.
Under Obama the national debt has risen from $10,626,877,048,913.08 on January 20th, 2009 to $18,795,033,928,275.59 on December 21st, 2015.
Both sides of the corporatist one party system love smoke and mirrors. Both are responsible for the deficit and “national” debt.
The United States government’s off-budget liabilities is over $200 trillion, but you’re not supposed to know this.
We can never pay this off. It will contribute to the downfall of America.
The debt burden, the devaluation of the dollar, the collapse of housing market, equity markets, private debt, consumer spending and a falling over-valued stock market all spell doom for America—not that Obama and the corporate media are telling you as much.
Donald Trump did.
“Right now, frankly, the country isn’t doing well,” Trump said on January 17, “Recession may be a nice word.”
More like a depression.
And the wealthy are preparing to exit and leave the rest of us to deal with the fallout, as Alex Jones warned last June.