Subj : Keeping Earl happy by giv
To : TIM RICHARDSON
From : BOB KLAHN
Date : Wed Aug 13 1997 03:26 pm
...
TR> I'm beginning to think the people all over the country
TR> don't really understand the sort of trouble our nation is
TR> in right now. Nor do they realize that this president and
TR> his cadre of leftist idiots are destroying us day by day.
Austerity is killing countries in Europe bit by bit, and your
side wants to put it in here.
EC>>economists in the country and a regular contributor to The New York Times
EC>>economics blog.
TR> Krugman was out there the other day saying that the GOP
TR> don't really understand Obamacare.
On that Krugman is wrong. They know it damn well, it was their
plan. They are afraid it will work, then they will have that
much more egg on their faces.
William Kristol once objected to extending the CHIP program,
because, when it *DOES* work it will lead to further programs.
IOW, programs that work, and save lives, and provide treatment
for children, are considered by the right wing to be bad.
TR> At some point, either yesterday or this morning, Henry
TR> Waxman (who's from California) was asked by a reporter if
TR> he'd read the 10,000-plus pages of the new so-called
TR> affordable care act. Waxman's answer was in the form of a
The first time I looked it was less than 1000 pages.
I just downloaded copies from three different sources. With
smaller text two had 906 pages. One with larger text had 1990. I
could read any of them. It's all how you lay it out.
...
TR> This country is on the road to financial ruin and the
TR> democrats are driving us there at full speed. Something
TR> tells me Obamacare is going to be a real eye- opener very
TR> soon, and people are going to be screaming for its repeal.
...
**************************************************************************
According to the Federal Budget History files, 2013: At the end
of WW2 the debt load was almost 122% of GDP. It went down under
every president, war and peace, recession or prosperity, liberal
or conservative, republican or democrat, until Reagan. When
Reagan took office it was around 33%.
Under Reagan it started back up, under Clinton it started back
down again. Under Bush II it went back into climb mode.
In 1981, 32.6%, in 1989, 53.1%, in 1993, 66.2%, in 2001 57.4%,
in 2009 85.2%.
So, Obama was handed an economy that was at risk of another
depression, and a debt load that is headed for crushing.
If the country went into depression the GDP could drop as much
as 50%. The debt would not drop, so the debt load would become
horrendous. 90% jumps to 180%. Higher than this country has ever
seen. If the GDP dropped 25% that still pushes up the debt load
to around 130%. That is a crushing debt. And that is why we
might well not be able to get out of another depression.
When Obama took office he was facing a national debt of about
$12 trill. That debt had built up in the 232 years before his
inauguration. Yet almost 80% of that debt had built up under 3
presidents, Reagan, Bush I and Bush II.
Of the 10% built up under Clinton almost all of it was in his
first term, when he was fighting to bring the Reagan/Bush
debacle under control. In his second term he gave this country
the first balanced budget it had seen in 29 years, and the
second longest string of balanced budgets of the 20th century.
At which time it appeared he stopped the growth of the debt.
However, the republicans had other plans.
(Note:The longest string was the 1920s)
All other presidents combined produced about 10% of the total
debt.
80% of the national debt Obama inherited produced under the last
three republican presidents. And 100% of the growth in the post
WWII debt load.
**************************************************************************
BOB KLAHN
[email protected] http://home.toltbbs.com/bobklahn
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