We Owe A Great Debt To Barack Obama
Tim Huelskamp - Tue 04:00 PM 08/28/2012
Congressman Tim Huelskamp says that the National Debt Clock rolled out at the Republican National Convention serves as a reminder that America will face financial ruin if Barack Obama is elected to a second term.
"We all owe a great debt to Barack Obama--far too much, in fact. We're $5.35 trillion further in debt, and Barack Obama has ZERO plans to put our budget into balance. That's the message of the Debt Clock revealed at the Republican National Convention Monday."
"Barack Obama and Democrats in Congress have no desire to balance the budget. They take our money and redistribute it into ever-expanding government programs. Barack Obama has robbed America's hope and future. American families are suffering because Barack Obama has been playing with the American Economy like it was a Monopoly game."
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IamMe
Tuesday 28 August 2012 21:16 Report this comment
Golly gee, according to Romney and Ryan they will balance the budget by 2040! How about now Tim? Oh wait that will mean a 40% across the board cuts. Dang gammit, I forgot, they want to spend more on the military. How much do we cut the budget for the military to balance the budget? 50%? Where did Romney say he wanted to balance the budget in the first place?
jigsawjack
Thursday 30 August 2012 13:55 Report this comment
IamMe I retired at the age of 56.5 because I worked my a%% off to provide future for my children. All the money invested to pay for their education we were forced to pay 15%+++ cap gains on so that they will be able to exit and enter into the work force without a debt load. All of that money was taxed to ensure that you can collect.....your due
jigsawjack
Thursday 30 August 2012 14:07 Report this comment
IamMe Paid 30%+++ in income taxes prior to making the investments????? Sucks to be me to support you and OBAmma
IamMe
Thursday 30 August 2012 16:04 Report this comment
Jigs, support me and Obama? Sorry did not vote for him. Never have been on welfare. I was once a registered republican now I am an independent thinker. So I do not understand your pity party. Question I asked is where did Romney say he was going to balance the budget??? Last time I checked his figures does not balance any budget. He will continue "the spending" more than we take in. Having said that, Romney just throws out he will lower your taxes to buy votes. We have had over 3 decades of reckless spending, many with a republican in the white house. Talk of balancing the budget is something republicans talk about when they are not in the white house but never do.
passing_by
Friday 31 August 2012 11:25 Report this comment
Why jigsawjock, are you being so hard on IamMe? He merely pointed out the obvious. Was it not just a few short years ago when the Tea Party rallied because of out of control spending and expansion of government? After listening to the main speeches at the RNC, I see it is business as usual. More promises and more debt. Oh yeah, and that We Built It banner beneath the debt clock? Yes, they sure as heck helped build it!!! Of course this is an election year, so let the finger pointing begin. When are you people going to wake up?!? Our country is teetering on the financial abyss, and you all lap up the political speak. Our country's greatest national security threat is the national debt, yet both sides continue to vote for debt ceiling increase. The VP Candidate, Paul Ryan, voted in favor of it. In ending, Tim, though you were not present during the out of control spending, and have done a good job since elected, please don't peddle the partisan drivel to thinking Americans.
jimdingo
Saturday 1 September 2012 19:00 Report this comment
Like Lewis Black commented on one of his specials. You have two bowls filled with s#$t. One is Republican, one is Democrat, guess what? They both smell the same, because they are the same. Washington is a bunch of self-seving zealots without the voters in mind. Kansas politicians are no different.
grnthums
Tuesday 4 September 2012 00:14 Report this comment
Sequester awaits. No one wants it but what other fiscal policy gets the job done?
The_Law
Tuesday 4 September 2012 16:12 Report this comment
Jigsawjack, if you paid 30% in federal taxes you need a new accountant. If you are single, that means you earn over $464,780 a year (that's taxable after deductions so your gross would be much higher and if you had capital gains, that income taxed would be even more). If you're married that figure jumps over $617,210. In either case, few are going to feel sorry for you. Don't get average tax and marginal tax confused. Divide federal tax paid divided by gross or as I did, taxable to give you the lowest possible income numbers. Most are in the 15-20% range. Again, this is federal only, and this pertains to the national debt.
The_Law
Tuesday 4 September 2012 16:35 Report this comment
What is Huelskamp talking about, congress controls spending and taxes, not Obama. The House Ways and Means Commission controls taxing (currently controlled by the Republicans which means lower taxes). The Senate Committee on Appropriations controls spending (controlled by Democrats which means overspending). Both parties are failing unless they try to work together. Ideally, you would like one party to control Congress (so things get done) and the other party to hold the Presidency (to watch the cookie jar). Best example, the way Clinton worked with Gingrich. It's the fringes of both parties that are so polarizing and are doing this country a disservice. The economy is still salvageable, but if debt payments reach 90%+ of GDP, it's over, the economy will collapse and you will see massive inflation and high unemployment. Currently it is 70% up from 40% in 2008.
The_Law
Tuesday 4 September 2012 16:49 Report this comment
The Democrats deserve a lot as their policies have not increased job growth. Spending is the correct path in a recession, but you need to get a return on your investment in the form of jobs. You do this through tax cuts for employers, not the wealthy. A company earning over a million dollars is worth more to the economy because they provide jobs, buy equipment, provide benefits, etc to reduce tax liability. An individual making a million should pay more since they are not helping the overall economy, just the stock market. They can reduce their liability by giving to charity (helps people and creates jobs) or they can set up an LLC or Corporation of one, get into the real estate market, for example, and have some more deductions. Those deductions, in the form of fixing up properties or maintenance, pumps money into the economy. They might hire an electrician or house painter as a 1099 contractor and provide jobs.
The_Law
Tuesday 4 September 2012 17:01 Report this comment
Here, I will help out both parties and people need to understand they are going to have sacrifice along with the world. Let's assume Ryan knows what he is talking about with Medicare reform. Medicare has to be reformed, there is no way around it. Social Security has to be reformed, currently you only pay in 12.4% of gross earnings up to approximately $100,000 (you pay 6.2 and your employer pays 6.2), so above that you are getting essentially a tax break as your earnings on that money will probably return better than a SS check at retirement. It is not sustainable unless the economy is growing at a fast rate. The military budget has to be reduced to sustainable levels. Those three, Medicare, Social Security and the military ave to be addressed. Any other line item in the budget is insignificant unless those three are addressed.
The_Law
Tuesday 4 September 2012 17:26 Report this comment
Here is what you can do after addressing the big 3 above. Raise marginal rates to 2000 levels, increase dividend rates to an individual's highest marginal rate, increase capital gains on stock held over one year to 20%, under one year to 25%, set the corporate rate at 20% with 2X deductions for contributions to pay for employee health insurance for businesses with over 100 employees or a credit equal to the amount paid for health insurance premiums for businesses under 100 employees, 2X deductions for purchases of depreciable assets over the next five years, and a $5000 credit for each new employee employed over one year over (using an FTE calculation, total # of new employee days at 8 hours divided by 250)the next five years.
The_Law
Tuesday 4 September 2012 17:31 Report this comment
With all credits and deductions available to carry over or apply retroactive. Get out of Afghanistan while closing every major military base throughout the world, moving that equipment and manpower to the U.S., unless countries like Germany (or the EU) and Japan want to continue by paying the US Government to maintain a presence. If the world wants to be protected, they need to pay for it. There, I raised revenues, lowered the budget, gave small business incentives to purchase health insurance (instead of forcing them), boosted the economy, and decreased unemployment, without a 1576 page Congressional Bill. TA-DA!!!! Again, this only works if the big 3 are addressed in conjunction.
The_Law
Tuesday 4 September 2012 17:45 Report this comment
Huelskamp is playing politics like the rest, something he assured us he would not do. By doing so, he is telling me that he is the dumbest PhD holder in America. Essentially he is not giving us something to look at, a plan of action, SOMETHING, instead he is laying blame. That is what people who are not intelligent or have no clue as to what they are doing do. In other words he is saying, "I have no idea what I am doing, I just think it's cool to be in Congress." The idiot voters of this district elected him because of his conservative stance, however standing up and saying, "I am a conservative" does not solve economic problems, action in the form of ideas and free flowing debate is more of the means necessary to jump start heading in the right direction. The Huelskamps, Pelosis and Reids of the country are blowing it up before our eyes.
IamMe
Tuesday 4 September 2012 23:21 Report this comment
Wow The_Law, that is one of the most interesting write ups to solve our problems I have ever seen written. Republicans will hate it. Democrats will hate it. I love it! Both parties are still arguing like 3rd graders over where to spend money we do not have.
RedNeckWatch
Thursday 6 September 2012 18:05 Report this comment
Former President Clinton did a wonderful job of laying out the facts about the deficit spending in this country. He was correct that both parties have spent more than they took overall, but "conservative" Republicans have been by far the biggest and least responsible spenders of all because they cut taxes and paid for their spending sprees with borrowed money. The Romeny/Ryan rhetoric does not pass the 1st grade math test. One plus one equals two in the real world, but not in the Romney/Ryan world. They cannot possibly keep their promises to cut taxes, raise military spending, and balance the budget. The old trickle down economic model never worked for anyone but the ultra wealthy, and it won't work for anyone but the ultra wealthy if Romney/Ryan are elected.
spanishlynx
Sunday 9 September 2012 13:41 Report this comment
redneck watch i agree with what you say about Clinton. Obama we owe nothing hes making EVERYTHING 1000% WORSE..!!!
grnthums
Monday 10 September 2012 13:59 Report this comment
Ah yes. Just like the RNC convention. NO mention of their two term president that created NO jobs and exploded the national deficit with ideological conservative governance. Signed, still tacking out the trash, Barack Obama.
Truckmaster
Thursday 20 September 2012 20:59 Report this comment
Typical Republican rheotic. Everybody's else is at fault , not them