The Debt Crisis

WHAT IS THE CAUSE OF THE DEBT CRISIS?

WHEN CLINTON LEFT OFFICE THE NATIONAL DEBT WAS 5.8 TRILLION. WHEN BUSH
LEFT OFFICE IT WAS 11.9 TRILLION. PRESENTLY IT IS 16.4 TRILLION

THE BUSH TAX CUTS (ESPECIALLY FOR THE WEALTHY) WITH NO OFFSETTING SPENDING CUTS

MEDICARE PART D PRESCRIPTION PROGRAM. MORE EXPENSIVE THAN ADVERTISED WITH NO ADDITIONAL REVENUE TO PAY FOR IT.

CONSTANT WAR IN IRAQ AND AFGHANISTAN. THE USE OF EXPENSIVE MERCENARIES INSTEAD OF CITIZEN-SOLDIERS. AGAIN WITH NO ADDITIONAL REVENUE TO PAY FOR THEM.

THE GREAT RECESSION OF 2008 DUE TO UNREGULATED AND IRRESPONSIBLE FINANCIAL FIRMS. REDUCING GOVERNMENT REVENUE, AND NECESSITATING MORE SOCIAL SERVICES - UNEMPLOYMENT BENEFITS, FOOD STAMPS, ETC

A CONSTANT TRILLION DOLLAR A YEAR DEFENSE BUDGET.

100 BILLION DOLLAR A YEAR SPY PROGRAMS, A RESULT OF 9/11 AND THE PATRIOT ACT

HIGH MEDICAL COSTS. CAUSED BY A FOR-PROFIT, MONOPOLISTIC, POLITICALLY WELL-CONNECTED INSURANCE CARTEL AND PHARMACEUTICAL INDUSTRY

INTEREST ON THE NATIONAL DEBT - 250 BILLION DOLLARS A YEAR

WHAT IS THE FISCAL CLIFF?

THE FISCAL CLIFF IS THE COMBINATION OF TAX INCREASES AND SPENDING CUTS THAT ARE TO TAKE PLACE ON JANUARY 1, 2013 IN RESPONSE TO THE DEBT CRISIS. IT IS PREDICTED THAT A SEVERE RECESSION WILL OCCUR AS A RESULT.

WHAT DOES SOCIAL SECURITY HAVE TO DO WITH THE DEBT CRISIS?

SOCIAL SECURITY HAS NOTHING TO DO WITH THE DEBT CRISIS. SOCIAL SECURITY HAS A 2.5 TRILLION DOLLAR SURPLUS

WHAT DOES MEDICARE HAVE TO DO WITH THE DEBT CRISIS?

SEE HIGH MEDICAL COSTS ABOVE