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News & ArtsThursday, November 22, 2012
Politics When Are Those Damned Liberals Going to Reduce the Damned Deficit?
Posted by Paul Constant on Thu, Nov 22, 2012 at 7:49 AM
Jed Graham at Investors Business Daily says Republican charges that Obama doesn't care about the deficit are basically made up:
Believe it or not, the federal deficit has fallen faster over the past three years than it has in any such stretch since demobilization from World War II.
In fact, outside of that post-WWII era, the only time the deficit has fallen faster was when the economy relapsed in 1937, turning the Great Depression into a decade-long affair.
So now you have a blunt weapon with which to strike your teabaggy relatives when they begin whining about the deficit over Thanksgiving turkey later today.
3
"Deficits don't matter" -- Dick Cheney.
Happy Thanksgiving, all. I'll be lawn bowling and longing for tamales, which should by rights replace turkey as the national holiday food, but I'm thankful for turkey too.
Happy Thanksgiving, all. I'll be lawn bowling and longing for tamales, which should by rights replace turkey as the national holiday food, but I'm thankful for turkey too.
5
If Fox "news" says Obama's the worst president and has increased the deficit, then that's all that matters.
6
Reducing the deficit is a meaningless soundbite. If the deficit is any amount more than zero, we have to borrow more and the debt grows. And the National Debt now exceeds 100% of the nation's Gross Domestic Product: http://www.cbsnews.com/8301-503544_162-5…
On a totally unrelated note, check out Lockheed Martin's F-35 Lightning II, a super kewl new fighter that will only cost slightly more than Australia.
http://www.theatlantic.com/national/arch…
On a totally unrelated note, check out Lockheed Martin's F-35 Lightning II, a super kewl new fighter that will only cost slightly more than Australia.
http://www.theatlantic.com/national/arch…
7
The deficit is a fake problem, because the national debt isn't really debt. When a government that issues its own currency borrows in the currency it issues (dollars, in this case) the bonds are really a part of the money supply rather than a debt that actually has to be paid back in real resources. It isn't like the debt of a household or a country that doesn't have its own currency (like Greece). That's not to say that an overly large national debt can't cause problems - it can cause inflation, and it can be distortionary in other ways - but it's not the problem people imagine it to be.
Right now, our country is in a deep slump because the financial crisis destroyed a big chuck of the effective money supply and that lost money needs to be replaced to get the economy running at capacity again. Right now, it's good for the government to print money and issue T-Bills - if anything, they need to do more of it, and more quickly.
Right now, our country is in a deep slump because the financial crisis destroyed a big chuck of the effective money supply and that lost money needs to be replaced to get the economy running at capacity again. Right now, it's good for the government to print money and issue T-Bills - if anything, they need to do more of it, and more quickly.
8
NO! Just no.The the deficit has almost doubled, wages have gone down compared to inflation and benefits are drying up.
It is so cute when you liberal literary types try to discuss economics.
According to your chart Bush had a larger total reduction of the deficit than Obama, but both heavily added to this nations debt.
It is called math maybe you should look into it.
http://static2.businessinsider.com/image…
It is so cute when you liberal literary types try to discuss economics.
According to your chart Bush had a larger total reduction of the deficit than Obama, but both heavily added to this nations debt.
It is called math maybe you should look into it.
http://static2.businessinsider.com/image…
9
@8: Um, no...according to the chart, Bush added to the deficit while Obama's reduced it. Remember, each bar represents the trend from the past three years, and taller bars mean smaller deficits.
It's so cute when you conservative teabaggy types try to discuss economics.
It's so cute when you conservative teabaggy types try to discuss economics.
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