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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Alex MG who wrote (134410)	6/26/2013 7:56:29 AM
From: RetiredNow	Respond to of 149317

I stand by my posts. I always measure the true deficit, not by the lies and deception in the income statement, but by the changes in debt. According to the changes in debt this year, our true deficit looks like it will come in less than $700B for 2013. That would mean it will have been halved from 2-3 years ago. Austerity is working to cut our deficit. I'm glad the GOP refused to negotiate the fiscal cliff with the Dems. This is the result: lower deficits. The short term negative is of course that the Fed no longer needs to engage in as much QE to fund larger deficits, which is why we have all this talk of tapering and the bond and stock sell off. QE was always about funding the deficit. So QE will be sized to do just that. I expect them to reduce QE by $20B per month, to $65B from $85B, at some point in the near future, as a result of smaller deficits.