Originally posted by Hallelujah
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If Obama doesn't stimulate the economy via deficit spending, we'll see unemployment climb into the teens and stall the recovery by years, not months....you can talk about the debt and use all the FOXing rhetoric you want to jovial-tough guy your way through what you consider a rock-solid argument, but you really need to read....pick up some books, some reports, some history, and read, man. None of us like debt, especially not public debt, but it has its uses, and damned if this isn't a good time to use one of them. People are so scared about their money right now that the Treasury sold bonds for 0% interest in December....think about that....they were so scared of losing money that they chose to make no money at all on billions of dollars........that's the kind of situation we're in......no matter who took office today (even if he were your whiteboy Mormon wetdream Romney) they would all need to do the same thing, otherwise they'd Smoot-Hawley us into a full blown Depression.
Federal Deficit
09/30/2008 10,024,724,896,912.49
09/30/2007 9,007,653,372,262.48
09/30/2006 8,506,973,899,215.23
09/30/2005 7,932,709,661,723.50
09/30/2004 7,379,052,696,330.32
09/30/2003 6,783,231,062,743.62
09/30/2002 6,228,235,965,597.16
09/30/2001 5,807,463,412,200.06
09/30/2000 5,674,178,209,886.86
Recent additions to U.S. public debt Fiscal year (begins
10/01 of prev. year) Value % of GDP
2001 $144.5 billion 1.4%
2002 $409.5 billion 3.9%
2003 $589.0 billion 5.5%
2004 $605.0 billion 5.3%
2005 $523.0 billion 4.3%
2006 $536.5 billion 4.1%
2007 $459.5 billion 3.4%
2008 $1017.0 billion (proj.) 7.4%
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