In Ohio, Ryan says deficits now will be taxes tomorrow

ZANESVILLE, Ohio In what he is billing as a "closing argument" to Ohio's voters, vice presidential candidate Paul Ryan is sweeping across this key battleground state to promote GOP nominee Mitt Romney and warn voters that they will be buried by taxes if President Obama is reelected.

"Let's remember, today's deficits are nothing more than tomorrow's tax increase," Ryan said as he decried the spending of the last four years. "Because it threatens businesses in the future. Because it threatens jobs today. And because we know, without a shred of doubt, that these young kids in this room are inheriting an inferior standard of living."

The Obama campaign has responded to similar arguments by citing its rivals' refusal to raise taxes on the wealthiest Americans as well as Republican the Dodd-Frank law aimed at preventing and policing abuses in the financial sector.

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"All he wants to do is bring back the failed policies of making the middle class pay for tax breaks for the wealthiest Americans and letting Wall Street write its own rules again," Obama spokeswoman Lis Smith said after a Romney appearance on Friday night in North Canton, Ohio. "That's not 'change', it's the same formula that crashed the economy and punished the middle class in the first place."

Ryan said the essence of the Republican argument has been a discussion of job creation and the Mitt Romney's leadership. But plenty of the stump speech he is offering voters in his eight-stop, 400-mile bus tour of Ohio focused on attacking the president's record.

In particular, Ryan is focusing on blue collar voters in the state, citing weak manufacturing statistics and promising to add more coal jobs if Romney is elected.

"If you don't have a strong manufacturing sector, you don't have a healthy economy. You have to have a strong manufacturing sector to have a healthy economy, to have a strong America. That is so critical to our health," he said earlier in the day during a stop at Gradall Industries, which makes excavating equipment, in New Philadelphia, Ohio.

As the race in Ohio tightens - most polls show Obama with just a narrow lead inside the margin of error - Ryan argued that the debates have helped him and his running mate.

"There have been hundreds of millions of dollars of negative advertising from the spring on trying to disqualify Mitt Romney," Ryan said, "But what we learned at the debates is that this is a man of integrity, this is a man of principle, this is a man who knows how to create jobs, this is a man we would be proud to call our president."

Ryan's bus tour will take him to local businesses in Circleville and Yellow Springs on Saturday afternoon and Sabina in the evening. On Sunday he will visit Celina, Findlay and Marion.

[sjc_1]

10/09/2009 11,895,799,292,208.46 (Bush 2008-9 budget ends)
10/10/2001 5,805,746,196,414.92 (Bush 2001-2 budget start)

Clinton get credit for the 2000-2001 budget surplus.
Bush gets the blame for the 2008-2009 budget deficit.

I count more than SIX trillion in debt, do the math.

[tsigili]

Either taxes, or simply continuing staggering debt we can't pay the interest on.

Either way, we, the people, LOSE!

That's what Obama is really all about......destroying America from within!

[gardentiller]

It is amazing how many people reflect such a low level of common sense. Most of the debt during Obama's administration was designed to stop the bleeding of 800,000 jobs per month which was caused by the previous administration. A bunch of ungrateful idiots. If he had not supported the spending of money to stop the economy from totally going into a ditch, a lot more americans would be in a hole with only the need for someone to cover them up with a shovel of dirt. How pathetic!

[abbe91]

"deficits now will be taxes tomorrow"

and republican tax cuts of yesterday are deficits today, this with useless wars.

[sjc_1]

Absolutely right, but when you are a Republican suffering from Romnesia, you can pretend you had nothing to do with that and blame the other guy.

[Surefooted1]

This country needs Ohio. Romney's economic plan will do more for Ohio than any patchwork bailout. Ohio is more than the UAW. Ohio manufactures and produces much more goods and services. Ohio is replete with millions of small businesses and agriculture. Obama is playing with Ohio. Obama does not have Ohio's or the country's best interest. Ohio is begining to see the ruse and wants serious change. This country needs Ohio, and Ohio needs Romney.

[peter_out]

I've lived in many Ohio towns. My fondest memory is of summers in Mt. Gilead, helping milk the family cow.

I hope Mt. Gilead businesses still give out rafflwe tickets, and there still is the Friday evening drawing for merchant prizes and the leather bag of silver dollars.

I pray the federal government keeps it's grubby hands off of Mt. Gilead, and all of Ohio.

[peter_out]

It looks as though Obama's deficit spending for 2012 will be about $1.4 Trillion so the total for one term will be about $5 Trillion. Accepting Chinese money to buy things is Obama's legacy. Each US wage earner's annual liability to just pay interest is now $2900 (average) on the new debt. About 3 million fewer Americans are participating on the earning side of the ledger under Obama. Participation had remained steady under the administration of the 6 previous Presidents at 66%, has dropped to 63.4% under the Obama adminstration.

With labor force participation decreasing at a rate of five times population growth, each wage earner has a growing liability so far as interest due is concerned.

Now with the CBO announcement that Obamacare will cost tripple the original estimates (now estimated at $2.8 Trillion), borrowing from China will have to be tripple, and annual interest due will approach tripple.

[Mike239239]

You forgot to mention that 1.2.trillion of the debt added is from the 2 bush tax cuts and the medicare handout to drug and insurance companies. All that was done while republicans had complete control of the white house and congress. That 1.2 trillion has been added to the debt every year since the bills were passed and will continue to add to the debt until they are repealed. But then when republicans passed those bills they said the national debt doesn't matter.

[RollotheNorman]

Willard wants to spend 5T more over the next 10 years on a tax break of 20% for income tax payers. Incidentally, Willard told a big, fat whopping lie about that during the first debate. Then he want's 2T more in military purchases the military hasn't asked for in the first place, and Willard lies about that. As an accountant PO, you're a bad joke and you like your hero Willard who has his PO for all tax payers, cause he's gonna bend it over.

[rationall7]

Ryan is avoiding the deficits of Bush's two wars and tax cuts and what does Romney want to do, increase military spending and give more tax cuts, the same old song and dance.

In particular, Ryan is focusing on blue collar voters in the state, citing weak manufacturing statistics and promising to add more coal jobs if Romney is elected.

Add more coal jobs what a joke, our coal is used in power generation plants and in the future the power of choice will be natural gas from the Marcellus shale seam, so these people might as well start working in the natural gas industry now.

Gradall Industries, which makes excavating equipment, in New Philadelphia, Ohio. Thanks to the GOP not wanting to re-build America is what these people at the plant should be focused on.

Ryan said, "But what we learned at the debates is that this is a man of integrity, this is a man of principle. And what the people in Ohio learned this week is Romney lied about Jeep moving to China and used fear to get votes.

[peter_out]

Bush deficit spent about $500 Billion a year. Obama chose to take 3.5 years to end the Iraq occupation, and quadrupled the size of the Afganistan occupation (over $70 Billion annual increase in spending on the Afgan front).

Obama's deficit spending, at an average $1.25 Trillion annually, dwarfs Bush's deficit spending.

[sjc_1]

Ryan, you were in the House 12 years voting for the deficits. You were there for 8 years voting for Bush's 6 trillion in debt.

[peter_out]

Bush added $5 Trillion. The Iraq war was Bush's response to a direct attack on the World Trade Center, and was supported almost unaminously by members of Congress including Ryan, bi-partisan.

By 2005 Iraq was rebuilding ruined infrastructure largely using American funds and contractors, and hunting around in the desert to find the thousands of tons of stockpiled munitions.

Obama extended clean-up efforts in Iraq by about 3 years on his watch. After 3 years he kept his campaign promise to end the Iraq war.

[sjc_1]

10/10/2000 5,658,397,995,719.35

10/10/2001 5,805,746,196,414.92

10/10/2002 6,240,299,505,760.08

10/10/2003 6,815,997,835,664.82

10/08/2004 7,418,008,695,843.39

10/06/2005 7,994,281,575,146.32

10/10/2006 8,546,276,240,603.85

10/10/2007 9,049,803,760,459.25

10/10/2008 10,294,381,432,306.11

10/09/2009 11,895,799,292,208.46 (Bush 2008-2009 budget ends)


http://www.treasurydirect.gov/NP/NPGateway

More than $4.4 trillion of that debt was foreign owned in 2009.