Milliardo Peacecraft
Well-Known Member
i just explained. allow me to explain it to you at your age level, which i am guessing is about 12-14 years old.
clinton leave surplus. bush take surplus, leave massive deficit. obama lower deficit, but still stuck with bush incompetence. debt pile up because bush leave big deficit.
that was bush.
Okay, that was your original explanation, but saying that doesn't make it correct. Holder could have prosecuted Goldman, HSBC, Lehman, JP Morgan, Citi, etc. His refusal to do so might have had something to do with Obama appointing his cabinet based on a list provided by Citigroup. That was not Bush's fault. And you cannot address the consumer debt pileup. Healthcare premiums, housing costs, tuition rates, and consumer interest rates have all exploded under Obama, he has offered no relief to those who aren't in the FIRE sector.
Bush leaving a large deficit is an oversimplification. There was unchecked banking malfeasance going on under Bush, true, Obama did absolutely nothing to stop them. He then went on to bail them out, no relief to the people that were scammed by them, and then let them manipulate commodities markets without any penalty. Then he hands insurance companies an effective bailout, knowing that his funny money ZIRP economy fundamentally cannot support enough yield for the insurance industry to pay claims. All the while, consumers are burdened with gouge-flation in tuition (brought about through destruction of lending practices via making student loans an entitlement), housing costs rising from more renters (destroyed the mortgage market by not prosecuting cut-and-dry fraud), and healthcare costs (destroyed competition). Also, no more interest on savings.
And on top of that, part time and contracting work is the standard, as many immigrants have come to the united states as the number of new jobs created, and we can't hit inflation targets because the new jobs are low wage and service sector. None of that being Bush's fault.
Public debt in the US is almost irrelevant, let's talk about private/household debt, which actually affects the situation on the ground, which has absolutely exploded under Obama. I could get into how primary dealers from the Fed are destroying investment too, the Obama administration is possibly the most corrupt in history.
Obama is a bankster/MIC goon with a pretty smile. You are not a liberal, FYI.