Deficit Commission's Extreme Proposals Spell Disaster

Discussion in 'Politics' started by Flaylo, Nov 12, 2010.

  1. Flaylo
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    Flaylo Handsome Devil

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    Jeff Madrick: Deficit Commission's Extreme Proposals Spell Disaster


    The longer term deficit is also too often attributed to "big government." The projection of the Congressional Budget Office, adjusted for some realistic policy changes, such as the extension of the Bush tax cuts, is that the deficit will actually fall substantially to 4 percent of GDP and stay there for some time. Debt rises to 77 percent of GDP.

    This increase is hardly trivial and a 4 percent deficit may not be sustainable. But increases are not the result of rising outlays for Social Security, Medicare or Medicaid, contrary to what many, including members of the media, seem to think. The higher deficit and debt levels are overwhelmingly the result of three factors: recession, war spending, and the Bush tax cuts of the early 2000s.
     
  2. mdn2000
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    mdn2000 BANNED

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    Ha, ha, blame Bush, blame Bush, blame Bush.

    Deficits existed before Bush.

    Can we state this is an accurate table of the debt owed. I dont see one year this debt went down.

    Government - Historical Debt Outstanding - Annual 1950 - 1999

     
  3. Flaylo
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    Flaylo Handsome Devil

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    Bush inherited a surplus not a deficit. He left with a deficit. Obama inherited that deficit. Pin the tail on the right donkey.
     
  4. Quantum Windbag
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    Quantum Windbag Gold Member

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    I see.

    If we start doing things your way, the deficit will only grow at the same rate as GNP, assuming that GNP grows the way you project.

    Why should anyone who can think believe a word you say?
     
  5. asterism
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    asterism Congress != Progress

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    If there actually was a surplus the debt would have gone down. Show us where that happened.
     
  6. Paulie
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    Paulie Platinum Member

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    Go cry to your local newspaper editorial section.

    I hope the rest of the troops in your unit aren't as much of a fucking pussy as you are.
     

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