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Politics : American Presidential Politics and foreign affairs
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To: DuckTapeSunroof who wrote (70987)11/15/2014 10:47:12 PM
From: i-node  Read Replies (1) of 71588
 
It is indeed an 'extremely rapid rate of improvement' for an economy of the massive size of the US'

I would disagree with you. The Democrat's policy of requiring banks to lend money to unqualified real estate buyers created a fairly substantial crisis. And the resultant loss of jobs and economic downturn did cause deficits to rise starting in 2009. Keeping in mind some 1.7 Trillion in spending for TARP and the wasted Obama "stimulus". The 2009 deficit surged because of 700B in TARP expenditures that were classified as expense and later reclassified as assets, effectively a 700B charge against Bush's final [partial] year and 700B in "free money" credit for Obama's subsequent year. Then there was the stimulus that was flushed down the toilet over two years.

TARP is responsible for salvaging the economy. But it is also responsible for an accounting anomaly that made FY09 look worse than it was and subsequent years looking better than they were.

The massive deficits are a problem that continues until this day. So, here's where we ar:



As you can see, the deficit still hasn't returned to Bush's worst year, even though we were engaged deeply in two wars at the time.

>> Re: "Because the deficit reduction of this one year is NOT in any way indicative of what will happen in the future."

Of course!

That is really important. Because we know deficits are just about to explode:

2015 should be lower, but from there it starts climbing and it simply doesn't stop. By 2024 it is projected at nearly a trillion dollars. This deficit problem is serious, systemic, and is caused by Social Security, Medicare, Obamacare, and interest on the debt. As interest rates start to climb there is literally no chance of the deficit being controlled.

The Democrats have, over the 70 years, spent the nation into an irreversible decline.
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