US Election Discussion

That's an entirely unfair representation; Clinton's clever little housing market scheme backfired and it took everything else down with it, but he did that same thing with a ton of other things; he relaxed regulations on a ton of different things, to the extent that it was actually ILLEGAL for banks to do background checks on people to make sure they could afford what they were borrowing. Then the banks get blamed when the recession finally hits, funny how that works, huh.

By the way, just to clarify this point, the bubbles he created LOOK like a period of incredible earnings, but in fact are hollow.

He also relaxed the only other stock market regulation I approve of; the redefinition of the rules involving upticking. For some godawful reason, he approved an SEC study that eventually determined (when it was completed in 2004) that the heavy restrictions placed on upticking the market were no longer needed. Guess when the uptick rule was officially removed? 2007. Guess what the second major cause of the recent recession was? Upticking. If you don't know what that is, it's when a person or business continuously shortsells a stock INTO THE GROUND and bankrupts them for their own massive profit. I'm not placing all the blame on Clinton for this though; at LEAST half of the blame falls on Bush for not stopping that study as soon as he was put into office; I'm pretty sure he even supported it. They were both terrible people because of it.

Still, my original point is, that chart is technically accurate, but it is missing some key underlying facts that are more important than that chart itself.

By the way, here's a fun little game we can play while we are on the subject of debt; the current US GDP is 15.09 trillion as of 2011. The current US DEBT is 16.2 trillion. Using math and logic, will higher taxes change anything? The tax rate on EVERYTHING in the country would need to be around 107% to fix this debt in a timely fashion, as of today. Hell, I'll even throw you a bone and say 2 years is still a timely fashion; 53% tax rate. 53% of everything everyone earns in this entire country for an entire year, ASSUMING the debt stops increasing as of today, which it will not, since Obamacare is no longer out the window. I expect the debt to be over DOUBLE the current figure by the end of his second term if nothing is done, in which case, what's happening in Greece right now will look like a stroll through a meadow compared to the situation that we will have on our hands in 4 years.