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wwwest 
Group: Members
Posts: 4056
Joined: Dec. 2002
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Posted on: Jan. 11 2013, 2:21 pm |
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It doesn't make good copy for Faux and MSNBC so we never hear much about this side of things:
Since the start of fiscal year 2011, President Barack Obama has signed into law approximately $2.4 trillion of deficit reduction for the years 2013 through 2022. Nearly three-quarters of that deficit reduction is in the form of spending cuts, while the remaining one-quarter comes from revenue increases. (see Figure 1) As a result of that deficit reduction, the projected rise in debt levels from today through 2022 has decreased by nearly 10 full percentage points of gross domestic product. In fact, under today’s policies, debt levels in 2022—as a share of GDP—will be only slightly higher than they are expected to be by the end of next year. That doesn’t mean there is no more work to be done, but it does show we’ve come a long way already.
http://www.americanprogress.org/issues....-so-far
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Hungry Jack
Group: Members
Posts: 1292
Joined: Nov. 2002
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Posted on: Jan. 21 2013, 10:17 pm |
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No matter how you spin it, the federal government borrows $40 of every $100 it spends.
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Hungry Jack
Group: Members
Posts: 1292
Joined: Nov. 2002
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Posted on: Jan. 21 2013, 10:58 pm |
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(Land Rover @ Jan. 21 2013, 10:48 pm)
QUOTE
(Hungry Jack @ Jan. 21 2013, 10:17 pm)
QUOTE No matter how you spin it, the federal government borrows $40 of every $100 it spends. Well that's what happens when you out conservatives in positions of power. Takes years to clean up the mess.
That's what happens when you put politicians in power.
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BillBab
Group: Members
Posts: 4490
Joined: Sep. 2008
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Posted on: Jan. 22 2013, 6:38 am |
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Funny how nobody is talking about the recent GAO report!
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"Asking liberals where wages and prices come from is like asking six-year-olds where babies come from."
Thomas Sowell
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Land Rover
Group: Members
Posts: 6529
Joined: Sep. 2006
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Posted on: Jan. 22 2013, 8:27 am |
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(Hungry Jack @ Jan. 21 2013, 10:58 pm)
QUOTE
(Land Rover @ Jan. 21 2013, 10:48 pm)
QUOTE
(Hungry Jack @ Jan. 21 2013, 10:17 pm)
QUOTE No matter how you spin it, the federal government borrows $40 of every $100 it spends. Well that's what happens when you out conservatives in positions of power. Takes years to clean up the mess. That's what happens when you put politicians in power.
The debate here for me comes down to whether we want to grow our way out of this, or cut and burn our way out of this. I know which is better for America.
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kyle2193
Group: Members
Posts: 4506
Joined: May 2008
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Posted on: Jan. 22 2013, 10:23 am |
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So, we were suppose to spend a lot more than our income, but we instead spent a lot more than our income, but we should be happy?
It is like when my wife comes home with 10 bags of stuff and she tells me how much money she saved.
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If I cannot swear in heaven I shall not stay there.
-Mark Twain
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Hungry Jack
Group: Members
Posts: 1292
Joined: Nov. 2002
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Posted on: Jan. 22 2013, 10:36 pm |
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Economic growth is the ONLY way out of this mess, plus some tinkering with entitlement programs. We need to get the economy, and employment, humming again.
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wwwest
Group: Members
Posts: 4056
Joined: Dec. 2002
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Posted on: Jan. 23 2013, 3:16 pm |
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Yes, I agree that our track record for the new century has not caused one to be overly optimistic about the decision makers and their commitment to sustained fiscal responsibility.
In the year 2000 we had a balanced budget, and were paying down the national debt. All we had to do was maintain that level, with no pain, no big cuts, no higher taxes, but instead we started a $2 trillion dollar foreign war program, and cut taxes!!
What a country!
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Survival Skills 101 • Eat Better
