Originally posted by AngelinaCatHub
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As to the growing debt, I agree that is the 800 lb gorilla in the room that people need to take seriously. As to blaming it primarily on "one main man" I would agree -- George W. Bush. In 2000 we had a budget surplus that was projected to continue as far out as they could go. Bush got in the Whitehouse and quickly gave two huge tax cuts. At the time when the CBO talked about the huge deficits it would cause Dick Cheney famously said "deficits don't matter". This was then added to by the big pharma give away and 2 wars. In contrast when Obama got elected the world was on the cusp of an economic meltdown and the US was losing over 700,000 jobs per month. The week he was sworn in the leaders of the Republican party were meeting to plan how they were going to insure he would be a one term president. Mitch McConnell was unabashed about admitting that was his umber one goal. The Senate filibustered virtually every attempt by the Congress to help the current situation. The list goes on.
As to balancing the budget that will only happen if we let ALL of the Bush tax cuts expire. Romney wants to make them permanent and cut taxes more for the rich - this would only makes things worse. The systemic problem contributing to the growing deficit is the declining middle class -- the true job creators. If you want to look back at history the last time we had such income disparity was in the 1920's -- we all know what happened next. Romney complains about 47% of the people in this country believing they are victims and want to live off entitlements from the government. I suggest the number of people who are actually like that are a fraction. The real problem is that too much of the profits are spread among too few. WalMart is a prime example of a cancer on this country. 6 of the Walton family have more wealth than the bottom 40% of this country, yet over 90% of their employees make below poverty income. The top 400 families have more wealth than the bottom 50% of the country. If the trend continues at what point will we have our own French Revolution? This problem is directly related to the problem with the deficit.
Good luck America.

) the Fed and other central banks buy up "assets" such as mortgage or government bonds that the markets just don't want.
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