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Old December 7th, 2014, 01:58 PM   #1
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RNC Picks The Wrong Fight On The Wrong Issue

RNC's Priebus picks the wrong fight on the wrong issue | MSNBC

Of all the things the Republican National Committee wants to complain about, this seems like an unusually poor choice.
President Obama has “the worst record of any president when it comes to putting America deeper in debt,” Republican National Committee chairman Reince Priebus charged Tuesday. […]

The Republican leader blasted the accumulation of additional debt as “immoral” and said the recent midterm elections showed American voters were “tired of Democrats’ free-spending ways.”

“We literally cannot afford to continue Barack Obama’s policies,” he said.
Well, we haven’t gotten into this in a while, and Priebus seems quite confused, so let’s run through the basics.

Before we get into the history – and the charts – let’s get a few things out of the way. First, just last week, congressional Republicans pushed for a package of tax breaks that would cost $440 billion over the next decade. How would GOP lawmakers pay for this? They wouldn’t – the tax breaks would just be added to the national debt. Given this, it seems like an odd time for the RNC to start whining about not being about not being able to afford Obama’s policies.

Second, though I realize Republicans find this terribly inconvenient, President Obama has overseen the fastest deficit reduction seen in the United States since the end of World War II. For that matter, nearly all of the president’s agenda – Affordable Care Act, immigration reform, etc. – would actually improve the nation’s finances.

Third, Priebus may not remember this, but it was his party that turned a massive surplus into a massive deficit, putting two wars, two tax breaks, Medicare expansion, and a Wall Street bailout on the national charge card, leaving the bill for future generations. When the RNC chairman is ready to discuss the “immorality” of these policies, I hope he’ll give me a call.

And with that out of the way, let’s consider whether Obama has has “the worst record of any president when it comes to putting America deeper in debt.”

He doesn’t. Consider this chart, showing the debt increases per administration over the last generation or so.



Relying on OMB data, the public debt grew under Reagan – who promised as a candidate to balance the federal budget – by 186%. He is, by any fair measure, the Father of the Modern Deficit – among modern presidents, Reagan fundamentally changed the way in which federal officials approached the nation’s finances. When it comes to deficits as a percentage of GDP, Reagan also ranks last among all modern presidents.

From there, H.W. Bush increased the debt by 55%, Clinton by 37% (he’s the only modern president to see surpluses), W. Bush by 86%, and Obama by 59%. I arrived at these numbers through simple arithmetic: what was the debt on their inauguration day, what was the debt when they left office, and by what percentage did the debt go up.

To be sure, Republicans’ interest in the issue waxes and wanes, depending on who’s in office and what the GOP wants at any given time, but for the Republican National Committee to argue that Obama has “the worst record of any president when it comes to putting America deeper in debt,” that’s just ridiculous.

I’d add, in case anyone’s forgotten, that adding to the debt is not necessarily a bad thing. As a percentage, FDR ran up a massive debt to rescue the country from the Great Depression and fight World War II, but most fair-minded observers would probably agree that it was well worth taking on these debts given the circumstances. Similarly, Obama’s Recovery Act rescued the country from the Great Recession, and it was deficit-financed, too, as it should have been.

If it were up to me, Obama would have run even bigger deficits and added even more to the debt, borrowing like crazy to invest even more in job creation and economic growth. Congressional Republicans made this an impossibility, but that would have been perfectly responsible.

That said, if we’re going to have a conversation about fiscal policy – and if the RNC is going to pick this particular fight – we should at least stick to reality. And the reality is, Priebus is plainly, demonstrably wrong.
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Old December 7th, 2014, 02:03 PM   #2
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scratchin muh head, since the debt has more than doubled under obama , how can this chart show him at 60%?
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Old December 7th, 2014, 02:07 PM   #3
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Obama has added $8 trillion in debt. As of November, Obama has increased the debt to 103% of GDP. The current debt to GDP breaks FDR's debt to GDP. Only a propaganda left wing entity would attempt to try and spin Obama's debt.
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Old December 7th, 2014, 02:20 PM   #4
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Quote:
Originally Posted by webguy4 View Post
scratchin muh head, since the debt has more than doubled under obama , how can this chart show him at 60%?
Quote:
Originally Posted by Jimmyb View Post
Obama has added $8 trillion in debt. As of November, Obama has increased the debt to 103% of GDP. The current debt to GDP breaks FDR's debt to GDP. Only a propaganda left wing entity would attempt to try and spin Obama's debt.
Neither of which impacts on the data in the OP chart.
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Old December 7th, 2014, 02:29 PM   #5
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Reagan inherited a dreadful economy, double digit interest rates, double digit inflation, and the Soviets in Afghanistan. Did quite well in spite of all that, and more, which is why he won such an overwhelming reelection victory in 1984.

Obama keeps peeing on the legs of his left wing believers and calling it rain, and they smile and say, you da man!


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Old December 7th, 2014, 02:32 PM   #6
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Neither of which impacts on the data in the OP chart.
It does because debt it measured as a percent of GDP.
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Old December 7th, 2014, 02:36 PM   #7
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Reagan inherited a dreadful economy, double digit interest rates, double digit inflation, and the Soviets in Afghanistan. Did quite well in spite of all that, and more, which is why he won such an overwhelming reelection victory in 1984.

Obama keeps peeing on the legs of his left wing believers and calling it rain, and they smile and say, you da man!


Now that's what you call spin. Do you nitwits ever bother to check the facts before you spew the right wing bullshit that you do? You people are pathetic on a number of levels. And Rachel Maddow just keeps stomping mud holes in your ass on a weekly basis. And Obama keeps doing it daily. The black guy in the White House has thoroughly destroyed every Republican Presidents economic record, since there has been Republican Presidents. It's now starting to be piling on, and the guy still has two years to go.
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Old December 7th, 2014, 02:38 PM   #8
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Originally Posted by skews13 View Post
Now that's what you call spin. Do you nitwits ever bother to check the facts before you spew the right wing bullshit that you do? You people are pathetic on a number of levels. And Rachel Maddow just keeps stomping mud holes in your ass on a weekly basis. And Obama keeps doing it daily. The black guy in the White House has thoroughly destroyed every Republican Presidents economic record, since there has been Republican Presidents. It's now starting to be piling on, and the guy still has two years to go.
Here are the facts:

Obama has added $8 trillion in debt. As of November, Obama has increased the debt to 103% of GDP. The current debt to GDP breaks FDR's debt to GDP. Only a propaganda left wing entity would attempt to try and spin Obama's debt.
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Old December 7th, 2014, 02:42 PM   #9
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Originally Posted by skews13 View Post
RNC's Priebus picks the wrong fight on the wrong issue | MSNBC

Of all the things the Republican National Committee wants to complain about, this seems like an unusually poor choice.
President Obama has “the worst record of any president when it comes to putting America deeper in debt,” Republican National Committee chairman Reince Priebus charged Tuesday. […]

The Republican leader blasted the accumulation of additional debt as “immoral” and said the recent midterm elections showed American voters were “tired of Democrats’ free-spending ways.”

“We literally cannot afford to continue Barack Obama’s policies,” he said.
Well, we haven’t gotten into this in a while, and Priebus seems quite confused, so let’s run through the basics.

Before we get into the history – and the charts – let’s get a few things out of the way. First, just last week, congressional Republicans pushed for a package of tax breaks that would cost $440 billion over the next decade. How would GOP lawmakers pay for this? They wouldn’t – the tax breaks would just be added to the national debt. Given this, it seems like an odd time for the RNC to start whining about not being about not being able to afford Obama’s policies.

Second, though I realize Republicans find this terribly inconvenient, President Obama has overseen the fastest deficit reduction seen in the United States since the end of World War II. For that matter, nearly all of the president’s agenda – Affordable Care Act, immigration reform, etc. – would actually improve the nation’s finances.

Third, Priebus may not remember this, but it was his party that turned a massive surplus into a massive deficit, putting two wars, two tax breaks, Medicare expansion, and a Wall Street bailout on the national charge card, leaving the bill for future generations. When the RNC chairman is ready to discuss the “immorality” of these policies, I hope he’ll give me a call.

And with that out of the way, let’s consider whether Obama has has “the worst record of any president when it comes to putting America deeper in debt.”

He doesn’t. Consider this chart, showing the debt increases per administration over the last generation or so.



Relying on OMB data, the public debt grew under Reagan – who promised as a candidate to balance the federal budget – by 186%. He is, by any fair measure, the Father of the Modern Deficit – among modern presidents, Reagan fundamentally changed the way in which federal officials approached the nation’s finances. When it comes to deficits as a percentage of GDP, Reagan also ranks last among all modern presidents.

From there, H.W. Bush increased the debt by 55%, Clinton by 37% (he’s the only modern president to see surpluses), W. Bush by 86%, and Obama by 59%. I arrived at these numbers through simple arithmetic: what was the debt on their inauguration day, what was the debt when they left office, and by what percentage did the debt go up.

To be sure, Republicans’ interest in the issue waxes and wanes, depending on who’s in office and what the GOP wants at any given time, but for the Republican National Committee to argue that Obama has “the worst record of any president when it comes to putting America deeper in debt,” that’s just ridiculous.

I’d add, in case anyone’s forgotten, that adding to the debt is not necessarily a bad thing. As a percentage, FDR ran up a massive debt to rescue the country from the Great Depression and fight World War II, but most fair-minded observers would probably agree that it was well worth taking on these debts given the circumstances. Similarly, Obama’s Recovery Act rescued the country from the Great Recession, and it was deficit-financed, too, as it should have been.

If it were up to me, Obama would have run even bigger deficits and added even more to the debt, borrowing like crazy to invest even more in job creation and economic growth. Congressional Republicans made this an impossibility, but that would have been perfectly responsible.

That said, if we’re going to have a conversation about fiscal policy – and if the RNC is going to pick this particular fight – we should at least stick to reality. And the reality is, Priebus is plainly, demonstrably wrong.
Yeah, well, we've seen in more than one article following the assertions by more than the RNC Chair that the republicans/teabaggers are CLUELESS when it comes to what is going on in our society. Their whole objective is to knee jerk the racism from its base. They have been successful in doing that and in making the rich richer.
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Old December 7th, 2014, 02:52 PM   #10
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Now that's what you call spin. Do you nitwits ever bother to check the facts before you spew the right wing bullshit that you do? You people are pathetic on a number of levels. And Rachel Maddow just keeps stomping mud holes in your ass on a weekly basis. And Obama keeps doing it daily. The black guy in the White House has thoroughly destroyed every Republican Presidents economic record, since there has been Republican Presidents. It's now starting to be piling on, and the guy still has two years to go.

Skews goes full demented. This is the worst post WW II recovery.

• Record numbers on SNAP

• Worst labor participation in ~35 years

Yeah, that is some economic record right there.

If weren't for fracking, which is basically all on private or state lands, this recovery would be even worse. Thanks to that we have what recovery we do have.


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