Posted on 09/28/2016 11:15:10 AM PDT by Kaslin
In his 2008 campaign for president, candidate Obama said that the debt run up by President Bush was “irresponsible” and “unpatriotic” and that Bush ran up the debt all “by his lonesome” (short video). Despite presiding over far more debt in his first term than Bush did in two, President Obama was re-elected by young folks. It would seem that debt doesn’t really register with millennials. Although millennials may not be interested in debt, debt is interested in them.
On Oct. 1, 2016 the federal government will begin its next fiscal year, FY 2017. Fiscal 2017 will mark ten years since the last budget produced by a Republican Congress before the Democrats took over Congress in Jan. 2007. Enjoy it while it lasts, kids, because a year from now we’ll start rolling over the Democrat debt.
The ten-year anniversary of fiscal 2007 is significant because most of the federal debt is in instruments that have terms of ten years or shorter. The deficit for fiscal 2007 was -$160B. When Nancy Pelosi took over, the deficit exploded: in fiscal 2008 the deficit hit -$458B, a record, and in fiscal 2009 the deficit hit -$1,412B, another record. And then came three more trillion-dollar deficits. So, fiscal 2017 should be the lull before the storm, and a quarter of it will have elapsed before the swearing in of the next Congress. Enjoy.
(Excerpt) Read more at americanthinker.com ...
He gambled that young people do not think of things in the long-view and he was right.
Think about this heard at lunch.
They vetoed Obama for the first time in his residency.
did I hear that right??????
????
Yup. Overrode his veto of a bill that would allow families of 9-11 victims to sue the Saudis.
My granddaughter is a millennial and a disgusting teenager refers to her fellow Massholes as Massholes, things are a changing.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.