Manonthestreet
Diamond Member
- May 20, 2014
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you ran a trillion dollar deficit last yr too. You dont pile up 8 trillion in debt in 6 yrs by running "lower" deficits
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The New York Times recently ran an article regarding the CBO's budget deficit projections which underlines that the reduction will be short-lived. Politicians have known this for quite awhile but little effort has been given to addressing the problem:
"Then it is projected to rise steadily, to $489 billion in 2017 and $953 billion by 2023. By 2025, the annual deficit will be back over $1 trillion. The budget office forecasts that under current policy, the government will add $7.6 trillion to the $18 trillion federal debt over the coming decade."
"“Such large and growing federal debt would have serious negative consequences, including increasing federal spending for interest payments, restraining economic growth in the long term, giving policy makers less flexibility to respond to unexpected challenges and eventually heightening the risk of a fiscal crisis,” the budget office said."
http://www.nytimes.com/2015/01/27/u...o-steep-declines-in-federal-deficit.html?_r=0
Trying to paint Obama as some kind of hero in the effort to curtail spending is really too funny.
I went for another wife....Debt? What Debt? thats how Democrats see it, they dont care so long as they can buy 2nd/3rd homes and expensive cars on that borrowed money. right?
legalize weed....1. Everyone claims to want spending reduced, but no one says how.
2. Raising taxes does not raise revenue.
3. Servicing a $20 trillion national debt is the real problem. At 1% interest, this takes $200 billion per year. At 5%, it will take $1 trillion per year.
4. We must figure out a way to grow the economy without increasing the debt.
Any plausible ideas?
Only if I can do it at home...why dont we just print up about a million 10,000 bills and pay off the debt?
why dont we just print up about a million 10,000 bills and pay off the debt?
Yet Obama and the Democrats continue to want to increase federal spending.
Tell me something. Has the government deficit been going up or down since Obama took office?
If down, how do you come to the conclusion the Democrats want to increase federal spending?
Also, during the 8 years of the Bush Administration, did Republicans increase or decrease federal spending?
If they increased it, how did you arrive at the conclusion that only Democrats increase federal spending?
Democrats: Tax and spend.
Republicans: Borrow and spend.
well, yes, it does. to a point.1. Everyone claims to want spending reduced, but no one says how.
2. Raising taxes does not raise revenue.
3. Servicing a $20 trillion national debt is the real problem. At 1% interest, this takes $200 billion per year. At 5%, it will take $1 trillion per year.
4. We must figure out a way to grow the economy without increasing the debt.
Any plausible ideas?
hey, don't they make printers that print real legal money? can I buy one at Best Buy?Only if I can do it at home...why dont we just print up about a million 10,000 bills and pay off the debt?
Sure, the hard part is getting the clothe just right for the bills....hey, don't they make printers that print real legal money? can I buy one at Best Buy?Only if I can do it at home...why dont we just print up about a million 10,000 bills and pay off the debt?