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"Never before have so few with so much promised to take away so much from so many and then laugh their asses off as the so many with so little vote for the so few with so much."
A Jim Pence Quote
"American Politics, a sport for the rich and enslavement for the rest of us."
A Jim Pence Quote

Some Debt Truth

by: RDemocrat

Mon Jan 07, 2013 at 13:33:13 PM EST


It is a meme will will hear over and over again before the debt ceiling fight kicks into high gear. The Republican lie that the main problem we face is our mounting debt. To here them tell it we owe our whole existence to the Chinese. And while our debt is a problem, it is not as the Republicans will portray it. America's biggest need is to grow the economy and nothing else.
RDemocrat :: Some Debt Truth
That is because although most of our national debt is owed to Americans. We are nothing like Greece although if we had a dollar for every time we will here "Greece" uttered by a Republican in the next few weeks we could probably pay the debt off. What we really need is a jobs program, blocked by Republicans to get our country working again:

Conservatives like to talk about the debt as if it were about to crush the American economy into oblivion; after all - the U.S. has accumulated more than $16 TRILLION with a T in debt.  That's pretty scary and conservatives will talk about America's impending Greece moment.  But forgetting all the Keynesian arguments for why we need deficit spending until we get the economy back to full employment; the deficit situation isn't nearly as bad as conservatives would have you believe.

More than two-thirds of America's deficit is owed to ... Americans.  We mostly owe the money to ourselves.  Yes - seeing an increasing debt over time could end up being a real problem but it's a long term problem; the immediate concern needs to be GROWING the economy.  Conservatives talking about the deficit being America's #1 problem are either wholly misinformed or they're just lying to you.

This chart explains our debt and who it is owed to:

Photobucket

The doomsayers in the Republican Party will continue to do what they do best. Lie to America to desperately try and convince them to allow all the wealth this country produces be redistributed upwards. The truth of the matter is that we need  jobs, not draconian cuts.  

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