The proposed deficit under Obama in his very first year is four times the highest deficit Bush ever had. Four times. We don’t even know about year two. In addition we face negative cash flow in Medicare in less than 6 years and negative cash flow in social security. We are not talking billions as with Bush we are talking $trillions. Who is going to pay this back?
GNW, Obama walked into a burning house when he took office, some context is necessary to compare numbers. When Bush left office, the national debt was $11 trillion. Bush’s annual deficit grew every year he was in office. Yes, Obama’s deficit numbers are higher because the fed govt is trying to stimulate the economy so we don’t sink into a depression from our severe recession.
You may disagree with his decisions, but it isn’t accurate to ignore the context. About 98% of economists say the fed govt has to spend now to avoid depression.
Der Believecommon sense:
When Obama took over he faced severe severe economic problems. Unfortunately, during his campaign he promised action on health, education, environment and immigration. Rather than use common sense and put these aside temporarily he, knowing people would not realize what he was doing, went after these also. That increased the debt load far out of possible redemption in our life time. Our children will pay the bills and years from now the same problems- health, education, environment and immigration will remain unsolved.
deadheadzan about 15 years ago
Not when it creates millions of jobs and gets the economy back to a robust, healthy entity.
Dtroutma about 15 years ago
On top of a $13 Trillion national debt, not so big.
GNWachs about 15 years ago
The proposed deficit under Obama in his very first year is four times the highest deficit Bush ever had. Four times. We don’t even know about year two. In addition we face negative cash flow in Medicare in less than 6 years and negative cash flow in social security. We are not talking billions as with Bush we are talking $trillions. Who is going to pay this back?
believecommonsense about 15 years ago
GNW, Obama walked into a burning house when he took office, some context is necessary to compare numbers. When Bush left office, the national debt was $11 trillion. Bush’s annual deficit grew every year he was in office. Yes, Obama’s deficit numbers are higher because the fed govt is trying to stimulate the economy so we don’t sink into a depression from our severe recession. You may disagree with his decisions, but it isn’t accurate to ignore the context. About 98% of economists say the fed govt has to spend now to avoid depression.
mackado about 15 years ago
Let’s go out in the street and tea party like it’s 1773!!
GNWachs about 15 years ago
Der Believecommon sense: When Obama took over he faced severe severe economic problems. Unfortunately, during his campaign he promised action on health, education, environment and immigration. Rather than use common sense and put these aside temporarily he, knowing people would not realize what he was doing, went after these also. That increased the debt load far out of possible redemption in our life time. Our children will pay the bills and years from now the same problems- health, education, environment and immigration will remain unsolved.
danielsangeo about 15 years ago
For those complaining about the deficits:
Bob borrows $50,000 and buys a convertible and a plasma TV.
Steve borrows $60,000 and pays for an education.
Who is more wasteful?