Gecko on Hussein's economy: ‘Prairie Fire Of Debt’

[boutons_deux]

Romney To Decry ‘Prairie Fire Of Debt’ While Ignoring That His Plan Makes It Worse

There’s one major problem with Romney’s rhetoric: his economic plan makes the debt worse. Romney’s tax plan gives a 20 percent across-the-board tax cut to all Americans and repeals the Alternative Minimum Tax, costing $10.7 trillion over the next decade and reducing federal revenues to just 15 percent of GDP, according to Center for American Progress Director of Tax and Budget Policy Michael Linden. Romney hasn’t offered a plan to pay for those cuts, instead simply asserting that he will balance the budget.

http://thinkprogress.org/economy/2012/05/15/484499/romney-debt-speech-prairie/

Apart from the fact the dubya/dickhead are the one who really ran up the debt and deficit, :

Spending, Taxes, And Deficits Are All Lower Today Than When Obama Took Office

http://thinkprogress.org/wp-content/uploads/2012/05/Obamabudgetchart.png

http://thinkprogress.org/economy/2012/05/15/484767/obama-budget-chart/

Gecko and the Repugs have nothing but LIES to spew to their ignorant, suckered rabble, without even getting into the criminally sociopathic and financially disastrous Ryan budget that the Repugs ALL endorse.

[Wild Cobra]

Can't know for sure.

Correlation does not equal causation.

[boutons_deux]

Romney's Cowardly Speech on the Deficit

Romney compared the rising federal debt to a “prairie fire” sweeping the nation. “The people of Iowa and America have watched President Obama for nearly four years, much of that time with Congress controlled by his own party. And rather than put out the spending fire, he has fed the fire,” said Romney. “He has spent more and borrowed more.”

While technically true, this is a bit misleading. Obama inherited an imbalance between spending and revenue because of tax cuts and wars started by George W. Bush and congressional Republicans. Much of the increase in the deficit since Obama took office can be attributed to increases in mandatory spending such as food stamps and decreases in tax revenue that were caused by the recession he also inherited, rather than any of his policies. While Obama did sign some new spending bills, he also signed the Affordable Care Act, which would reduce the deficit. Romney pledges to repeal the ACA and complains that it cut spending on Medicare.

“The time has come for a president, a leader, who will lead. I will lead us out of this debt and spending inferno,” Romney promised. But how? Romney does not say. He wants to extend the Bush tax cuts, then cut taxes an additional 20 percent and raise spending on defense. All of this increases the deficit.

“Move programs to states or to the private sector where they can be run more efficiently and where we can do a better job helping the people who need our help,” said Romney. “Shut down programs that aren’t working. And streamline everything that’s left.” None of this really means anything. No one is for programs that aren’t working or inefficiencies. Unless you say which programs you believe are not working, or which inefficiencies you will remove, you aren’t really saying anything at all. Romney says he will lead on this issue, but he offers no leadership at all.

http://www.thenation.com/blog/167911/romneys-cowardly-speech-deficit