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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (35841)	8/19/2010 6:02:59 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 103300

I never said that revenues (like: taxes) dropping during Recessions was the "only" cause of higher current deficits. (All I said was that about half the current year deficit was a result of the Great Recession....) There is also mandated higher spending (unemployment, Medicaid costs, structural trade assistance, many other things) to consider, costs that will increase automatically in any recession. In Recessions revenue (taxes haul) to the government drops at the same time that costs rise. But there hasn't been much other than periodic increases (i.e.: temporary, not permanent additions to baseline spending) that has happened. Examples: TARP (passed near end of Bush term) was a temporary (one-shot) spending increase, (soon to be all paid back), not a permanent addition to baseline spending (an example of a permanent spending increase would be something like Medicare part D, drug coverage, which permanently increased federal deficits). Same, the Obama era "stimulus" bill ("American Recovery and Reinvestment Act of 2009") was roughly $787 Billion... $288 Billion in tax cuts ($237 Billion of that was for individuals, $51 Billion for business), and the balance of $499 Billion was nearly all in one-time spending... not permanent additions to the federal budget like "part D" was. en.wikipedia.org recovery.gov