First of all deficits and debt are two different things from a federal fiscal standpoint. Our debt, or national debt, is the accumulation of spending deficits. Not all deficits are acquired through the budget, for example Bush W kept the wars “off the books” so the budget deficit did not add up with the debt incurred under his presidency. Now Obama inherited a structural deficit of 1.2 trillion. That means a negative balance of outlays to inlays, or spending to revenue. Under Obama the structural deficit was halved by a massive $600 billion dollars. That is enormous. We have never seen that type of deficit reduction on such a massive scale and will most likely never see it again. Your only real complaint , that has any merit, is that Obama wasn’t able to fix all of the damage done to the budget and economy under W and the Republican Congress, despite having reduced the deficit by historic proportions.
Fair enough but the structural debt is almost exclusively causd by liberals, name the conservative programs in both america and Canada causinf the debts, then tell me who caused them. The debt from both countries is almost exclusively caused by left wing governance, this is not a right wing problem, its a lie to claim that.
Highest debt per GDP in almost every case is a liberal state, its incredibly rare that this mold gets broken, so is it really all that shocking that the places who have the highest desire for government run up the most debt? I mean that should be a lock to anyone who went through economics 101.
Oh wow look at that all the most liberal places once again pile on more debt..... damn thought i was going to be provwen wrong
1. first of all I have no complaints*. I am just trying to make lefties discuss Obama's spending accurately. He still spent 7 trillion more than he took in...(along with Congress) 2. I see this way too much from lefties here. they take what I wrote and act like they are teaching it to me. I explained there was a difference between the debt and the deficit. And. I explained the cumulative deficit increased 7 trillion under Obama. So seeing yearly deficits of 1.2 trillion down to 400 billion and then seeing rise back up to 600 trillion is fine but its still adding to our country's cumulative deficit. Its still spending more than we take in. The use of the word structural deficit by you seems to be a distinction without a difference. If Congress were to cap spending today... there is a strong possibility that revenues would exceed spending within a few years. Especially if the FED keeps printing money and creating inflation. * As I said before I have no complaints with govt spending or deficits until the govt actually decides to figure out how much money the FED has been creating. (in fairness to hard working americans there should be no income tax until we figure out how much the FED is creating) Don't you all think its odd we are talking about taxes and deficits... when the FED does not even report M3 to us anymore. They could be creating more money then we even take in via income tax. There might be zero reason for income tax other than to prevent competition for elites?