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Study: "Debt Problem Began Four Decades Ago"

kajun51 Wrote: Jan 22, 2013 8:07 AM
How can they do anything about our enormous debt if all they are planning to do is spend more? Raising the debt ceiling means more debt! Not only is the debt increasing, but the rate of increase is increasing. At the rate we're going, our debt alone will be larger than the economies of most of the world.
conservative_one Wrote: Jan 22, 2013 8:24 AM
I truly believe that taxes will rise to an unprecedented level. Look to Europe, that is the model for the Democrat Party and the Republicans(Democrat Lite).

Big taxes, Big Spending, more gov't control of every aspect of our lives. Everybody feels entitled to gov't handouts. THAT IS WHAT THE USA VOTED FOR WITH OBAMA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

More handouts - - less work! --------------LET THE RICH PAY!!!!
renny4 Wrote: Jan 22, 2013 8:52 AM
Pray for more gridlock and work to take back the Sen. in 2014.
A new report from the Federal Reserve Bank of St. Louis reminds Americans that, contrary to the narrative that huge deficits and debt are merely a recent product of the Great Recession, the problem began over forty years ago.

Daniel Thornton, the St. Louis Fed's Vice President and economic adviser, finds what conservatives have been saying all along is true: it's steadily increasing government spending, not a lack of tax revenues, that's causing all of this.

[A]fter 1970, both revenues and expenditures increased on average relative to the previous two decades; however, revenue increased marginally while...
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