where did the national debt come from
In the Free Your Mind Online Newsletter, you will be exposed to information that Accountants, CPA’s, Financial Planners, Real Estate Agents, Insurance Agents, Credit Repair Companies, Credit Bureaus, and Government Institutions would probably rather not have you to know! Keep up with this national debt, while surfing the net.
Fox will tell you that it is reckless Democrat welfare spending. But the facts disagree, both in percentages, and dollar figures, most of the deficits were spent by Republicans and mostly for wars or military spending. Regan & Bush Jr. being the major offenders. In fact the Iraq war has been funded mostly “off the books” so the true impact on the deficit is hard to measure. The bail out figure I’ve heard is $700m. Big difference. A crisis fueled by a housing finance system, distorted for seven decades by the government, which has now gone begging for a government bailout. However, nowhere does Cox admit that the SEC “utterly failed” in its oversight of the credit rating agencies, who rubberstamped triple-A ratings on mortgage-backed paper at the root of the crisis, notes Barry Ritholz of the Big Picture, or the ramifications regarding how the SEC relaxed its Wall Street capital oversight rules in 2004, and how that subsequently resulted in firms levering up 40-to-1, debt versus assets,
