Things You Should Know B4 You Vote in 2014 - Part 1

Republican policies and actions have given the US:

·         Four depressions and 9 out of 11 recessions with the last being 2007-2009.

·         Unemployment during the depressions was nearly 25%. The highest level of unemployment in the recessions was under Ronald Reagan (1981–1989); in November 1982 it was 10.8% (stayed above 10% for 10 months). Under George W. Bush (2001-2008) unemployment rose from 4.2% to 7.8%. As of September 30, 2014, it dropped to 5.9%; it would have been lower if Barack Obama’s Jobs Act of 2011 was passed.  When unemployment benefits were running out for some 1.3 million workers, Rand Paul basically said from December 8, 2013 to January 7, 2014 that it was better to give them nothing then to extend the benefits; the law extending benefits was passed on April 7, 2014.

·         Reagan raised the debt ceiling 18 times and increased the federal debt by 218%. Democrat Bill Clinton (1993-2001) raised the ceiling 7 or 8 times and increased the debt by 37%. GW Bush raised the ceiling 7 or 8 times and increased the debt by 86%. As of the close of business July 30, 2014, Obama raised the ceiling 6 or 7 times and the debt rose 65.8%. Obama’s increase has been due to the failure of passing the Jobs Act and an appropriate tax increase on the rich.

·         During Reagan’s tenure, to reduce inflation and lower interest rates, the US borrowed both domestically and abroad to cover the federal budget deficits. This led to the US moving from the world's largest international creditor to the world's largest debtor nation. (Mitt Romney wanted you to believe that Obama caused this situation.) 

·         Reagan’s domestic borrowing included taking money from Social Security and Medicare. Clinton saved the programs but GW Bush used some of their money to fund the Iraq War. Paul Ryan’s solution was to overall drastically cut benefits but Obama reduced the benefits to the wealthy. Note: Republicans want the programs to be privatized. If this had happened they would have gone under with the Wall Street failures during the recession.