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It doesn't matter. As long as there are deficits, the national debt is increasing. The debt needs paid down.
I would hope the deficits are getting lower since 2003, when we went to war.
Mostly Due to Legislative Changes
Improvement Reflects Deficit-Cutting Legislation and Slower Health Spending
Enacted Deficit Reduction Shrinks Deficits by $4.1 Trillion
Slowdown in Health Care Costs Contributes Significantly to Improved Outlook
Reduction in Ten-Year Deficits Improves Long-Term Budget Picture
http://www.cbpp.org/cms/?fa=view&id=4106
govt austerity screws job creation, no help for long term unemployed, snap cut.
Expect insane sociopath, just another nasty ing Repug Catholic, to propose an even more austerity budget, tax cuts for the corps and 1%, ing over the poor.
It doesn't matter. As long as there are deficits, the national debt is increasing. The debt needs paid down.
I would hope the deficits are getting lower since 2003, when we went to war.
So the US needs to have absolutely no debt?
the debt/deficit hawks are only the 1%/VRWC and their ignorant assholes in the 99% that they've duped into believing the debt/deficit are huge problems.
their "shared sacrifice" of their govt austerity programs, like the 99% paying more and the 1% paying less taxes, falls only on the 99%.
Ok. So would you be in favor of increasing tax revenues to pay down the debt?
"deficits don't matter" - your boy Cheney
At its height in 2010, “discretionary spending” under Obama reached 9.1 percent of GDP. That was largely due to the stimulus law intended to dig the country out of a deep recession. But even at that high level, it wasn’t that much higher than the 40-year average of 8.4 percent and was still below the 40-year peak of 10 percent reached in 1983.
Today, levels are well below the long-term average. And the Congressional Budget Office projects that by 2023 discretionary spending will fall to 5.3 percent of GDP, the lowest since 1962.
most of our deficit reduction — three-fourths — comes from reducing spending on programs that disproportionately benefit the poor. The other one-fourth comes from the richest, who have enjoyed 95 percent of the benefit of the recovery.
Growth Is Picking Up — But Not As Much As It Should Be
However, if the deficit swells, as the Congressional Budget Office expects it to by 2019, the pressure to make even more cuts to a government that’s already cut to the bone will be immense. Of course, there are less painful reforms that can be implemented now to avoid this expected crisis, including comprehensive immigration reform and reforms to Medicare that do not affect benefits.
But as much as Republicans say they care about the deficit, they are not willing to raise one dime in taxes to make a deal to cut it.
We May Never Recover From Underinvestment
6 million missing workers is probably the clearest metric.
Republicans in Congress are adding to the number of Americans out of work by letting the unemployment rate rise as much as .5 percent when they let emergency benefits for the long-term unemployed expire. Cuts to medical research inhibit long-term innovation, compe ion and development of new treatments. Kids being kicked off Headstart costs parents while denying kids the long-term benefits of the program.
Worst of all, we’re missing incredible opportunity to invest in our crumbling infrastructure as interest rates are near zero and millions of Americans are out of work.
Republicans campaigned and won on their vision of cutting spending in the midst of an unemployment crisis in 2010. The effects of that victory linger on lost opportunity and a future where even more senseless cuts will be necessary.
http://www.nationalmemo.com/5-reason...ion-bad-thing/
Any smart person who has reviewed the history of debt realized we have only incurred and added to it during times of war, depression, and disasters. Clinton was the first president in history to continue adding to the debt during times of no war, crisis, or recession. All you you youngsters seem to be content with always increasing the debt. It needs to be paid down with the expectation of paying it off.
Increasing tax revenue, yes. tax rates, no.
The best way to increase tax revenue is to increase the number of tax payers.
Who's "boy" are you?"deficits don't matter" - your boy Cheney
So if the US has no debt, it has no need to sell Tbills. THE largest haven for investment in the world...
You don't think the government needs to lend money at all?
Should the government be responsible for investments of the people, corporations, and other nations?
I think not.
I think we should strive to buy back all the bonds out there.
the whole world wants US denominated securities. how is that a bad thing, WC?
Maybe not.
What if they were harder to come by?
why should they be harder to come by?
You don't want the dollar and the US as a safe haven for the world economy?
Really?
If the supply was reduced, the supply and demand equations would be different, lowering the interest we paid out on the debt even more.
It isn't safe. That's an illusion.
You realize there hasn't been a net pay down of the national debt in this country in almost 60 years, right? Even in the rare occasion of running a budget surplus during that time, the surpluses haven't been put toward enough on payment of principal to lead to a national debt that was less than the previous fiscal year. Are you under the impression that there wasn't a single year between 1957 and 1992 that this country wasn't in a time of war, depression, or disaster?
cutting back on expenditure, but spending it elsewhere...doesnt fkn make a difference
govt austerity at all levels is causing the recovery Banksters Great (Jobs) Depression, already a difficult recovery due to it being a financial depression, to stretch out to a decade or more. We are now 6 years since Sep 2008 and many millions remain un/under employed.
Uhhh.... It's an illusion that people buy into. Pun intended.
The world economy has made the choice.
So what have you invested in that you believe will not lose value?
That would be extremely disruptive for financial markets, with no place to park money for low risk, bordering on disastrous.
Yes I understand this.
Can you explain this to WC?
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