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It limits the government because it absorbs an ever higher amount of tax revenue to pay the interest on the debt. All deficit and deft spending is like a tax on future earnings. It is completely fiscally irresponsible, and both parties are to blame.
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"All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." - Schopenhauer |
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http://www.treasurydirect.gov/govt/r...ir_expense.htm
We spent $429 BILLION in interest payments alone in 2007. I think this number shows the cost of what the government could be doing without the debt. |
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*unless massive expansion of the prison population is found to be a victory
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“Mayor Palin fails to have a firm grasp of something very simple: the truth.” [Frontiersman editorial, 2/7/97]
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"Oh well, war is expensive"..... As if that were any excuse.... 429 billion dollars - that's a great number - here, let me put that in perspective for you: the total cost of direct expenditures in Iraq, since 2003, has been about twice that. 880 billion, give or take. So.... um..... you know, if I had to sit in the shower and tear up hundred dollar bills, while magically dreaming up some way to make even more money disappear, I couldn't possibly think of a better way, than debt service. |
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Spending is one half of it. We've seen an enormous 65% and 51% increase in discretionary spending and programmatic spending over the last 6 years of total Republican rule, this when inflation has been relatively low. Contrast that to a 3% and 31% increase respectively during the first 6 years of the Clinton Administration. No comparison.
http://www.cbo.gov/budget/data/historical.pdf Spending does, however, generate economic growth, at least temporarily, until real spending is decreased. Signficant portions of real GDP growth over the past several years can be traced to spending increases. The resulting growth can increase revenues to some extent, although the effect is temporary until spending is decreased. The other half of the surplus or deficit equation is revenues. Cutting taxes causes a measurable drop in revenues. Raising taxes does the opposite. Supply-siders contend a portion of revenue losses from a tax cut will be offset from revenues generated from economic gains (politicians go a step further and dishonestly claim tax cuts "pay for themselves"). In practice, this is generally a relatively small fraction at best. http://www.cbo.gov/ftpdocs/54xx/doc5485/2004-07.pdf Therefore, both tax cuts and spending increase the deficit, increasing the debt and future debt interest, burdening future generations.
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See, free nations are peaceful nations. Free nations don't attack each other. Free nations don't develop weapons of mass destruction. - G.W. Bush, 10/3/2003 |
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All you need to know about the energy crisis: ANWR Exploration Republicans: 91% Supported. Democrats: 86% Opposed. Coal-to-liquid R's: 90% YES. D's: 78% NO. Oil Shale Exploration R's: 90% YES. D's: 86% NO. Outer Continental Shelf Exploration R's: 81% YES. D's: 83% NO. Increased Refinery Capacity R's: 97% YES. D's: 96% NO SUMMARY: 91% of House Republicans have historically voted to increase the production of America’s own oil and gas. 86% of House Democrats have historically voted against. |
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