Will you ask a failing student to help you with your homework?
Posted on | April 24, 2011 | 1 Comment
Lloyd Bentsen | Texas | January 20, 1993 | December 22, 1994 | Bill Clinton | ||
70 | Robert Rubin | New York | January 11, 1995 | July 2, 1999 | ||
71 | Lawrence Summers | Massachusetts | July 2, 1999 | January 20, 2001 | ||
72 | Paul O’Neill | Pennsylvania | January 20, 2001 | December 31, 2002 | George W. Bush | |
73 | John W. Snow | Virginia | February 3, 2003 | June 30, 2006 | ||
74 | Henry Paulson | Illinois | July 10, 2006 | January 20, 2009 | ||
75 | Timothy Geithner | New York | January 26, 2009 | present | Barack Obama |
Fiscal Year |
Year Ending |
National Debt | Deficit |
FY1993 | 09/30/1993 | $4.411488 trillion | |
FY1994 | 09/30/1994 | $4.692749 trillion | $281.26 billion |
FY1995 | 09/29/1995 | $4.973982 trillion | $281.23 billion |
FY1996 | 09/30/1996 | $5.224810 trillion | $250.83 billion |
FY1997 | 09/30/1997 | $5.413146 trillion | $188.34 billion |
FY1998 | 09/30/1998 | $5.526193 trillion | $113.05 billion |
FY1999 | 09/30/1999 | $5.656270 trillion | $130.08 billion |
FY2000 | 09/29/2000 | $5.674178 trillion | $17.91 billion |
FY2001 | 09/28/2001 | $5.807463 trillion | $133.29 billion |
Today I flipped some channels to see, what is on in terms of political and economic news. I could not take it for too long, particularly as it came to Fareed Zacharia on CNN. He invited Robert Rubin and Paul O’Neil, former secretaries of treasury, to give some advise on our economy and debt reduction.
There were a couple of admissions on their part, that are worth listening to, particularly and admission by Rubin that real unemployment is not 8.8% as reported, but 16%. When a liberal dem is admitting that a fellow liberal dem is running 16% real unemployment, it is a sure sign, that is is higher than that. In places like Michign and CA real unemployment is probably over 20%.
What got to me, is the fact that they were invited as experts. Experts in what? In failure. It is widely accepted by the liberal media that Clinton balanced the budget and ran surplus. This is not true.
When Clinton took office, National debt was $4 trillion. When he left office, it was 5.6 trillion. Clinton increased National debt by 40%.
Bush JR started with 5.6 trillion and ended with 9.6 trillion. He increased national debt by 4. trillion or 71%.
Obama, of course, is a total disaster. He started with 9. trillion and within 2.5 years increased it to 14.5 trillion. What is the most frightening, is that in 2010 he increased national debt from 10.4 to 13.9 trillion. a total of 3.5 trillion in one year. This is a totally insane number. If you multiply this by 4 years, at this rate in 4 years of his presidency he will incur roughly the same debt as all the other presidents taken together.
Bottom line, though Clinton and Bushes did not run such an enormous deficit, their secs of treasure were not successes either.
If you need help to prepare for a test, will you ask for help somebody, who failed this test? No. Rubin and O’Neil were not successful in reducing deficit, so it is insanity, in my mind, to ask their advise.
Yes, Trump is not ideal, but, bottom line, he accumulated 2.7 billion worth of wealth. He seems to know what he is doing, he is good at what he is doing, yet CNN is calling him a clown, while they are treating clowns, who bankrupted our economy-as experts. How sane is that?
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April 24th, 2011 @ 11:13 pm
Orly: This is how the establishment puts the “Sheeple” to sleep! They will say all the right things, just enough to make everyone say: “aaaahhh, Big Brother!!!”
Holy “Let’s go back to sleep, Batman!” It’s 1984 revisited! Caffein, anyone?
Gray Lady Down…