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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (614295)	6/3/2011 7:05:57 PM
From: TimF	4 Recommendations Read Replies (1) \| Respond to of 1576912

Tim, most of the debt that we now have is because of deficit spending All of the debt we have is because of deficit spending. Most of the deficit spending isn't because of the debt. The interest on the debt is hardly insignificant, but its a small part of our total spending. Deficit spending increased dramatically because of administrations that engaged in tax cuts and the largest peacetime military buildup in history by any metric you choose to use. Are you talking about the 80s buildup or the Bush buildup. The later is largest in nominal dollars. By other metrics the 80s is larger, or the pre-WWII buildup (Defense spending went up from 86.1 billion in 1938 to 126.7 bil for 1941. The response to Pearl Harbor would be in the 42 fiscal year so 41 was peacetime spending.) In any case the majority of the deficit increase under Reagan and Bush II was from the increase in non-military spending (and Bush I increased taxes and decreased defense spending).