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Cutting the deficit? Which one? If you are referring to the National Debt you are grossly wrong https://en.wikipedia.org/wiki/National_debt_of_the_United_State
by jhoechtl 10y ago
Cutting the deficit? Which one? If you are referring to the National Debt you are grossly wrong
https://en.wikipedia.org/wiki/National_debt_of_the_United_States https://en.wikipedia.org/wiki/National_debt_of_the_United_St...
- CalChris 10y agoOf course, if you look up in the dictionary you'll find that deficit and debt are distinct words: debit: something that is owed or that one is bound to pay to or perform for another deficit: the amount by which expenditures or liabilities exceed income or assets http://www.dictionary.com/browse/deficit http://www.dictionary.com/browse/deficit http://www.dictionary.com/browse/debt http://www.dictionary.com/browse/debt The Federal deficit was about $1.4T when Obama started and its about $600B now. Obama has been very fiscally conservative. In particular, he put the Afghanistan and Iraq wars on normal rather than emergency funding basis. http://www.usgovernmentspending.com/federal_deficit_chart.html http://www.usgovernmentspending.com/federal_deficit_chart.ht...
- majewsky 10y agoOnly tangentially related, but I'm amazed by the absolute value of the US deficit. The German federal deficit used to be around 10-20 billion € (now down to zero) and everyone was crying over how horribly high it is. (I know that Germany is smaller, but it has at least a fourth of the US population.)
- CalChris 10y agoPost WWII, US deficits grow under Republicans and shrink under Democrats. http://si.wsj.net/public/resources/images/BN-EX454_wwii10_G_20141008143025.jpg http://si.wsj.net/public/resources/images/BN-EX454_wwii10_G_...
- gaius 10y agoIt's a lagging indicator.
- pessimizer 10y agoWe have run massive trade deficits since Reagan. Those ultimately either have to show up as national debt or personal debt. After 35 years, we're nearly maxing out both. Germany has a trade surplus (basically doing the same thing to the rest of the EU.) edit: http://cepr.net/blogs/beat-the-press/national-income-accounting-for-the-washington-post-and-robert-samuelson http://cepr.net/blogs/beat-the-press/national-income-account... http://www.dw.com/en/italian-pm-renzi-lashes-out-at-german-trade-surplus/a-36114853 http://www.dw.com/en/italian-pm-renzi-lashes-out-at-german-t...
- lintiness 10y agoyou are out of your mind. the only reason the deficit is south of a trillion is interest rates are HALF what they were in 08. 2008 fed debt: ~10T 2016 fed debt: ~19T 2008 int exp: ~450M 2016 int exp: ~450M he's spent like a lunatic, and his aca has just gotten started.