The Truth About Our National Debt, Not the Lies Told by the Republicans and too Many Democrats

The following is the introduction of a letter faxed to the following political office holders on June 24, 2011.

To: Todd Young, IN-09; Indiana Senators Dick Lugar and Daniel Coats; President Obama, The White House; House Speaker John Boehner; Senate Majority Leader Harry Reid; House Minority Leader Nancy Pelosi; Rep. Paul Ryan, R-WI; Eric Cantor, R-VA

Subject: The Truth About Our National Debt, Not the Lies Told by the Republicans and
too Many Democrats

The main body of this letter is an article posted on the political news and commentary site, at this address:
10 Things the GOP Doesn’t Want You to Know About the Debt

I have posted a diary with this introduction and a reference to the following article with its summary of actual FACTS about the source of the current debt problems on my own web site,, along with links to the original writer’s article. That article on the web has links to documentation supporting all statements in the article.
It is about time the Republicans, and the useless deficit hawk Democrats, and our President Obama, acknowledged the reality of the situation, and quit dealing in lies about the causes of the current deficit and fiscal crisis.

Instead, it is time you addressed the following facts, and dealt with the crises facing our nation.

1. You are going to raise the national debt limit, because it is frankly insane not to do so, and would result in financial chaos and damage to the United States economy that would take decades to recover from, if ever.

2. You are NOT going to take away Medicare, Social Security, and Medicaid benefits. If you do, you will be removed from office in the next election

3. You are going to END THE BUSH/CHENEY TAX CUTS. You are going to restore taxes on the super rich back to at least the rational levels they had already been reduced to under Bill Clinton. This alone will solve much of the current deficit crisis. You are not going to lower corporate taxes even more. Most major corporations don’t even pay their fair share now, but pay no taxes as at all, since they take advantage of massive subsidies (oil industry), or use offshore accounts and entities to hide and manipulate their financial records. You are allowing the Corporate Oligarchy to bleed this nation dry and destroy it. It is time to put an end to this.

4. You are going to get our armed forces out of Afghanistan and Iraq AS FAST AS POSSIBLE. And you are going to stop funding wars off the books. Over 6 BILLION DOLLARS in cash was shipped to Iraq, and simply disappeared, a good 25% of the current deficit was literally poured down the toilet of these wars, which have not made us safer, but have in fact served as recruiting posters for our enemies in militant Islam. The only correct action in the past decade was Obama’s successful pursuit and killing of Bin Laden. Bring our troops home NOW, and stop funding wars “off the books”.

5. You are going to have to pass meaningful and stringent regulation to control the big banks, the out of control hedge fund and speculative fund managers, and the totally corrupt mortgage industry. You are going to have to pursue legal action against the criminal acts of this industry, which at this point is projected to have as much as 48% or more of all mortgages “under water” within another year per a Deutsche Bank study.

6. You are going to have to pass legislation to provide stimulus funds to jump start job creation. If you kill the Middle Class and the Working Class and the Unions, and Teachers, and Firefighters, and all of the people who make this nation function, those who have now been shown to be the latest scapegoat target classes of the GOP, then you will never have a financial recovery. Concentrating wealth in the hands of a tiny minority of the population has proven one thing in regard to job creation: it does not create any jobs. All of the corporations are reporting massive profits and cash on hand. They are NOT investing in R&D and infrastructure and creating jobs. And that is what is killing America right now.

7. Cutting taxes massively for over a decade now on the super rich and the corporations is the root cause of our problems. Cutting even more is not only not the cure, it will be the final nail in the coffin of the American economy.

Thu Jun 23, 2011 at 01:50 PM EDT

10 Things the GOP Doesn’t Want You to Know About the Debt

by Avenging AngelFollow

Just two weeks after he seconded Treasury Secretary Tim Geithner’s dire warnings about the August 2 deadline to raise the U.S debt ceiling, House Majority Leader Eric Cantor walked out of the budget talks aimed at reaching a bipartisan compromise over deficit reduction. Like Arizona GOP Senator Jon Kyl, Cantor shifted the burden to Speaker John Boehner, Senate Minority Mitch McConnell and President Obama to “get over this impasse on taxes.”

For his part, McConnell promised that no deal to end the GOP’s hostage taking of the U.S. economy will include tax hikes. But while McConnell boasted that “If they couldn’t raise taxes when they owned the government, you know they can’t get it done now,” left unsaid was the inconvenient truth that the nation’s mounting debt is largely attributable to wars, a recession and tax policies put in place under his party’s watch.

Here, then, are 10 things the GOP doesn’t want you to know about the debt.

1. Republican Leaders Agree U.S. Default Would Be a “Financial Disaster”
2. Ronald Reagan Tripled the National Debt
3. George W. Bush Doubled the National Debt
4. Republicans Voted Seven Times to Raise Debt Ceiling for President Bush
5. Federal Taxes Are Now at a 60 Year Low
6. Bush Tax Cuts Didn’t Pay for Themselves or Spur “Job Creators”
7. Ryan Budget Delivers Another Tax Cut Windfall for Wealthy
8. Ryan Budget Will Require Raising Debt Ceiling – Repeatedly
9. Tax Cuts Drive the Next Decade of Debt
10. $3 Trillion Tab for Unfunded Wars Remains Unpaid


Author: Ron