And for the record, the destruction of wealth wasn't due to wealth redistribution. The wealth measured was the net worth of individual Americans, most of which was held in stock portfolios (including 401(k)s and IRAs) and real estate. The destruction of that wealth was already going on full force when Obama took office.
Stocks portfolios and the real estate bubble collapse did contribute. My investment balances reflect that. I agree Obama isn’t all to blame for the past. But he is responsible for his term of office. I just wish his die-hard supporters wouldn’t deflect all the blame off of our President.
If you were reaching your own conclusions and doing your own research, you'd have used a National Debt figure of $15T-$16T instead of $14T, which is currently closer to the present number. It seems pretty evident that you used somebody else's words and that those words were written some time back.
See the article and link I posted above from the Washington Post in response to kombat’s post. I didn't realize it was from 2011.
Edit: note that the graph doesn't defend Obama on the deficit. It clearly shows the deficit going up under him. But seriously, how can you blame him for the entirety of it when it was built on the debt of his predecessors?
Simple. I don’t. Oh and I drink my No Blame Kool-aid.
Okay Eagle, let's see how you react to actual context and data that isn't addressed in something you can cut and paste. And don't even think of running off on an another tangent; I'll call you out on it if you do. Focus, m'boy, focus.
Conservatives are quite embarrassed by this performance, so they have invented a cover story: The Democratic Congress did it. Nice try. But for 12 of the 20 years the Congress was not Democratic..
Okay so assuming the data is true let’s say conservatives are 60% responsible and liberals are 40% responsible for that time period (Reagan/Bush). 5 Trillion added to the debt was under Democratic majority leadership. The honor of the tipping point of 100% still belongs to President Obama. What a legacy.
Sorry VinTek that's all I got.
Frankly I’m tired of this thread.
More pointedly because I feel I’m the only conservative representative (handling over 200+ replies is becoming to cumbersome) and because I have a family/job to consider. We have made it to the 300 replies (is this a thread record?) mark (nearly 28% or 84 mine) and nearly 2800 views. My goal was to discuss these issues and get 300 replies.
Thanks all for your thoughts it has been great fun getting your perspectives. It has been a great stretching experience. I have realized I still have lot's to learn regarding economics, science, politics, and even exploring further into religions. To those whom I have offended or disappointed I apologize. It was not my intention. I will leave you to continue with the discussions on this thread. I will still be pursuing the personal finance topics and may check back from time to time. But 2-4 long (yes I admit it lol) posts per day is just not sustainable. Once again I am very grateful to all of you. I wish you all long lives and great success.