Bush was partially responsible for a budget deficit of 1.1 Trillion in 2009. Partially because he and incoming Obama signed off on the 700 billion TARP act. The monies given to banks were repaid though with interest so technically Bush left with his last year in office with a 400 billion dollar budget deficit with a debt/gdp ratio in the 70% range.
Obama took it to an ENTIRELY new level with 1.2 Trillion budget deficits 2010 and 1.7 Trillion 2011.
Unsustainable. The exessive spending won’t work. Period.
The US has the highest corporate income tax in the
industrialised world, save for Japan. Our is 35%; Japan’s
is 39.5, and all of our other friends and trading partners
have rates well below these two, giving them strong
incentives to produce.
What do you think should be done to correct the situation that is not happening, DIBS.
Meanwhile, income for the top percents has increased tremendously over the past 30-40+ years. So why shouldn’t they pay more tax!
tax rates and taxes paid are very different….because of tons and tons of deductions thanx to all the lobby money and donations by corps.
That may be the rates, but what corporation actually pays it after all the tax breaks and abatements? (cue GE)
DH – don’t you have overdraft?
Hi Blowfish! – How is the baby doing? I think you had a girl. I had my son on April 1st – how are you feeling?
Bush was partially responsible for a budget deficit of 1.1 Trillion in 2009. Partially because he and incoming Obama signed off on the 700 billion TARP act. The monies given to banks were repaid though with interest so technically Bush left with his last year in office with a 400 billion dollar budget deficit with a debt/gdp ratio in the 70% range.
Obama took it to an ENTIRELY new level with 1.2 Trillion budget deficits 2010 and 1.7 Trillion 2011.
Unsustainable. The exessive spending won’t work. Period.
Ashton Kutcher replacing Charlie on two and a half Men
Sad
The US has the highest corporate income tax in the
industrialised world, save for Japan. Our is 35%; Japan’s
is 39.5, and all of our other friends and trading partners
have rates well below these two, giving them strong
incentives to produce.
What is what, Cobble???
so let me get this straight. nothing going on now is bush’s fault, but he should get credit for killing osama?
as Jon Stewart said a few nights ago, bush is the “winklevoss twins” of killing osama.
if he was going to kill osama, he would have killed osama – bitch!!