Barack Obama: Deficit Hawk

[JJ Husker]

Carl- I would agree that there are certain large purchases (home, vehicle, education) that, for an individual, often times can only be accomplished by borrowing the money. The interest expense is still similar to lighting money on fire as compared to not having to borrow though. I simply do not feel one of the largest economies in the world, with one of the highest standards of living, should be operating so dependently on borrowed funds. It tells me that like many of it's citizens the country itself is living beyond its means. Just think what those interest payment funds could be spent on.

[walksalone]

price of oil is probably what comes to mind first...

I don't think that I've seen that connection. What's the theory?

 

The fact that the cost at the pump has more of an immediate effect on your average american than what is happening with the deficit...

I agree . . . that's why I'm confused as to why you said that in response to my asking how the debt/deficit is affecting the average American.

 

Just that, on a daily basis, the average american has the price of gas effect him more than what the deficit currently is.

[carlfense]

Just that, on a daily basis, the average american has the price of gas effect him more than what the deficit currently is.

[carlfense]

Carl- I would agree that there are certain large purchases (home, vehicle, education) that, for an individual, often times can only be accomplished by borrowing the money. The interest expense is still similar to lighting money on fire as compared to not having to borrow though. I simply do not feel one of the largest economies in the world, with one of the highest standards of living, should be operating so dependently on borrowed funds. It tells me that like many of it's citizens the country itself is living beyond its means. Just think what those interest payment funds could be spent on.

I agree that we need to reduce the deficit and then eventually pay down the debt. That said, I do think that some of the spending (or reduced revenue) on borrowed funds was justified and worthwhile.

[sd'sker]

The federal budget deficit fell precipitously to $680 billion in the 2013 fiscal year from about $1.1 trillion the year before, the Treasury Department said Thursday. That is the smallest deficit since 2008, and marks the end of a five-year stretch when the country’s fiscal gap came in at more than a trillion dollars a year.

link.

[ZRod]

The federal budget deficit fell precipitously to $680 billion in the 2013 fiscal year from about $1.1 trillion the year before, the Treasury Department said Thursday. That is the smallest deficit since 2008, and marks the end of a five-year stretch when the country’s fiscal gap came in at more than a trillion dollars a year.

link.

Cut taxes rable,rable!

[tschu]

BUT OBAMAS SPENDING US INTO THE GROUND BENGHAZI OBAMACARE SOCIALIZMMMMMM

[sd'sker]

The Budget Deficit In March Was The Smallest Since 2000

 

The federal budget deficit for the first half of this year was $413 billion, a decline of $187 billion compared to the same time last year, according to the Treasury Department.

The deficit for the month of March stood at $37 billion, down from $107 billion last year. That figure was the smallest deficit for the month of March since 2000. The deficit is expected to be a about 4.1 percent of gross domestic product this year, a drop from almost 10 percent in 2009. Those falling numbers continue a trend, as the deficit fell faster in 2013than in any year since the end of World War II, dropping from $1.1 trillion in 2012 to $680 billion.

[TGHusker]

The Budget Deficit In March Was The Smallest Since 2000

 

The federal budget deficit for the first half of this year was $413 billion, a decline of $187 billion compared to the same time last year, according to the Treasury Department.

The deficit for the month of March stood at $37 billion, down from $107 billion last year. That figure was the smallest deficit for the month of March since 2000. The deficit is expected to be a about 4.1 percent of gross domestic product this year, a drop from almost 10 percent in 2009.Those falling numbers continue a trend, as the deficit fell faster in 2013than in any year since the end of World War II, dropping from $1.1 trillion in 2012 to $680 billion.

 

I'm not arguing wt your point here - just an observation: The statement I highlighted in blue - is a bit laughable in some ways - not because the value fell - that is great - but that we are comparing one of the all time highest deficits (the others being during the Obama years) dropping to a deficit ($680b) that would have been thought of as outrageous just a few years ago. Everything is relative - the times have changed - a trillion here and a trillion there and it eventually adds up to real money.

[ZRod]

Remember why they chose to have that high of a deficit billion, like you said it's all relative.

[deedsker]

Thanks to inflation, everything is a record today and is gone tomorrow.

[tschu]

It's not hard at all to adjust for inflation or to compare as a percentage of GDP

[TGHusker]

It's not hard at all to adjust for inflation or to compare as a percentage of GDP

That would be interesting to see. If you have the time - go for it.