The big problem with Obama's economic plan.

[senseinobaka]

psrock said:

TheRealMafoo said:

it does not take a rocket scientist to see this...

The US under Bush collected 20% more revenue then it did under clinton. When you cut taxes, you collect more money. When you raise taxes, you collect less money.

So raising taxes means the US government has less money to pay bills. (You can argue all you want, but history proves this fact)

The issue under the Bush administration has never been generating revenue, it's been insane spending.

We spend WAY to much money. The answer (and neither candidate is pushing for this), is to stop spending so damn much money in Washington.

Obama wants to spend more money, and he wants to do with with less income coming in... how the hell does that work?

 

I bet you even Bush would argue with you about this.

Maybe it's just me, but didnt Clinton leave a SURPLUS of cash when he left office. Don't we owe more money now than ever.  I don't get your point.

Common misconception. Clinton was a lame duck his last couple of years. The republican congress did spend less than what they got from tax revenue, thats a surplus or profit. But the national debt that was passed from that congress to the congress that came to power when Bush did was between 4-5 trillion.