22 January 2012


Before anyone brings up the politifact nonsense, let me rebut it.


Politifact takes the debt at the end of Bush's tenure, Jan 2009, as the ending point of his debt...however, the fiscal year budget runs until the next years budget begins on Oct 1. So, fy 2009 was Bush's budget. Tax revenues are significantly affected by the economy. For example, tax revenues declined from $2.5 trillion in 2008 to $2.1 trillion in 2009. During 2009, individual income taxes declined 20%, while corporate taxes declined 50%.

I might add that most of the appropriations for the 'wars' during Bush's tenure were off-budget. Figure juggling. Notice that 40% of revenues come from Social Security? And we're told that Social Security is the problem? No...the problem is that ever since the trust fund was created under Greenspan/Reagan...it has been rolled into the general revenue stream and used to mask deficit spending. Social Security 'trust fund' was meant to be set aside to pay for the boom in population not to be used as accounting gimmickry. Pull SS revenues and expenditures out of the budget and then look where the majority of our monies go...to the M/I complex.

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