Claim: Obama has raised the debt more than all previous presidents combined. Variation: Obama has spent more than all previous presidents combined. Fact: This claim is absurdly false since it attributes rising debt to spending as opposed to lowered revenues (the real cause). This first claim is almost “true” if you start the clock at […]
Tag: Debt and Deficit
The Tea Party’s Take on Tax Rates and Size of Government
For some time now, the Tea Party has been making a ruckus over the size of government, tax rates and the alleged debt/deficit ‘crisis.’ Rather than understanding that; our tax rates and government as a percentage of GDP are lower than virtually any other nation in the industrialized world; or that the current deficit/debt […]