Continuing on listening to an otherwise nuanced and responsible lecture on Keynesian economics, during question time Tony went completely beserk and said something that I just cannot in any way shape or form let go unchallenged.
This is what he said when asked about the issue of Debt to GDP in places like America where it is huge... "The Republicans wreck the budget and the poor old Democrats have to come along and fix it"
ARE YOU KIDDING TONY????You must be... you cannot possibly say such a thing while being in full knowledge of the jolly numbers! When Obama came into office the Deficit was 9 Trillion..yes...that's bad..and yes, it was built up by both Reagan and Bush 1 and 2 (Republicans) and specially the Iraq war.. yes..that was the Republicans.
Yes..Clinton (Democrat)managed to reduce the debt to reasonable levels compared to his predecessor (Bush Senior) Bush senior ended with 66.1% of GDP... Clinton reduced this to 56.4% after 2 terms.
Now..NOW..we come to the crucial issue! Obama/Democrats from 2009-2013
Obama has INcreased the debt from Bush Jr's era (in which, rightly or wrongly he funded a WAR!) to the present diabolical debacle of 102% of GDP!!!
This is not (Tony) 'FIXING' the debt situation. It is obliterating the United States! Obama, after 1 and a half terms... 6 years of the levers of power.. and all he's done is add 6 trillion dollars to the debt.
Don't give me any rubbish about a congress of 'no'....the American people put Republicans in charge of Congress (House of representatives) because, in my view, of panic about the Obama debt! The Republicans stood on a platform of fiscal restraint and debt reduction last election.. Paul Ryan was a high profile spokesman for this.....and what happened? A wiley fox of a President used his oratorical skills, and the stupidity of the American Left/masses to keep power and further increase the debt.
The big picture is clearly illustrated in the symbolic state of Wisconsin, where (Republican) Scott Walker told it like it is - "We have enough funding for this year, but at present rates of spending, by the end of next financial year, we are broke"...fortunately the people not only heard him but listened, and took this message to heart. The first thing Walker did was to bust the mafia like cozy relationship between the Public sector unions and the Democrats who had a cycle of "we'll help get you elected, just give us continual pay rises and benefits" scam.
Obama is no longer worried...he has had all the the presidency can allow, now he is coasting to the next election when another candidate will have to cop this debt fair in the face like a splooshy cream pie.
BUSH jr ended in 2009 with 9 Trillion.
OBAMA hasn't yet finished and he's up to $17,000,000,000,000 = 17 TRILLION in debt.
This translates into approximately $50,000 in extra debt that every man, woman and child in the USA now owes over and above their existing commitments. Once again..that is NOT the 'democrats fixing the damage'.....it is lunacy, chaos, and heading to a Mad Max III scenario, not to mention serious civil unrest as they run out of money for the social programs they can't afford. Considering the huge number of Americans on welfare, and unemployment.. do you think they can afford this huge number? Nah, nada, nyet..na'am... So that means their debt burden must rest on the shoulders of those with employment. If 30% of Americans are underemployed or are on welfare and each owes $50K, all of that debt will have to be born by the rest.... so instead of a family of 5 including parents owing $250k in total, they probably owe around $300k because of those who have no job.
and Tony.... you have the nerve to say "The poor old Democrats have to fix it"....mate..either change your tune or get another job!
You reap what you sow.