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Politics : American Presidential Politics and foreign affairs

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To: RMF who wrote (41756)	3/9/2010 1:14:02 PM
From: TimF	Read Replies (1) of 71588

Tim, you have to admit that Reagan's deficits were more "voluntary". To an extent, at least once the recession was over, but that's only because Obama is currently in the recession (or in the early states of recovery where we don't really see the benefits yet). The future Obama related deficits, not so much. They will be largely voluntary, and also almost certainly much larger than Regan's (by fair measures like percent of GDP, if we used nominal dollars of course they will be larger). There isn't any "magic bullet" scenario where the FED could just "correct" things in 2 years and then we'd be back on the path to economic recovery. The economy may already be recovering, by some measures it is. To the extent that growth is delayed or less robust coming out of the recession, all the new government intervention, and fears of even more of it, with ideas like "health care reform", and cap and trade, and higher taxes, floating about. We've NEVER seen anything like THIS before. Exactly like this? No. But about as bad? Numerous times. Worse? More than once.

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