Monday, September 29, 2014

The deepening crisis of American capitalism keeps growing and growing


 
Since the ascension to the White House of POTUS #43 & POTUS#44 the crisis of American capitalism has continued to deepen. It keeps getting worse.

The USA is almost bankrupt. Since Obama went to the Oval Office in January of 2009, the National Debt has skyrocketed to almost 20 Trillion U.S. Dollars. Who is going to pay for that humongous debt? Capitalist millionaires and billionaires are not going to contribute one dollar. Your sons and daughters and grandchildren will have to pay it.

Dubbya and El Negrito have practically destroyed the USA, once a strong and prosperous country.

Let's review:

President George W. Bush - President Bush added the second greatest amount to the debt, at $5.849 trillion. This more than doubled the debt, which was $5.8 trillion on September 30, 2001 -- the end of FY 2001, which was President Clinton's last budget. Bush responded to the 9/11 attacks by launching the War on Terror. This drove military spending to record levels,  $600-$800 billion a year. This included the Iraq War, which cost $807.5 billion. He approved a $700 billion bailout package for banks to combat the 2008 global financial crisis [a.k.a. the bursting of the capitalist housing bubble.] Not a single capitalist has gone to jail for it. It was pure speculation gone wild.

President Barack Obama - The debt grew the most dollar-wise during President Obama's term. He added $6.103 trillion, a 52% increase, in six years. Obama's budgets included the economic stimulus package, which added $787 billion by cutting taxes, extending unemployment benefits, and funding job-creating public works projects. The Obama tax cuts added $858 billion to the debt over two years. Obama's budget included increased defense spending to around $800 billion a year.

See: U.S. Debt by President.

Barack Obama is a huge liar. He promotes WAR, not peace. And the U.S. Congress has an even worse record. They are part of the problem, as much as #43 & #44 are.

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