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Originally Posted by dc_dux
The comparisons to personal credit cards and home equity is baseless. The factors in making policy regarding the national economy is just not that simple.'
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Of course not. When the government runs out of money, it just prints more and that adds to inflation. Governments have to live within their means too.
If consumer demand doesn't come back because stupid people have learned their lesson than they shouldn't max out their credit then the government is supposed to spend trillions of dollars buying useless crap until Obama gets kicked out?
Quote:
Originally Posted by dc_dux
Lastly, to all your posts about Obama's spending, the CBO's estimate of the FY 10 (ended last week) budget deficit of $1.3 trillion is LESS than the previous year's record of $1.43 trillion...;and Obama's proposed FY 11 budget put a freeze on most discretionary spending.
But it will mean nothing and the deficits will soar if the Bush 01 and 03 tax cuts, particularly on the top bracket, are extended....add another $trillion to next year's deficit (and each subsequent year).
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If he's frozen discretionary spending, that's a small start. He still has deficits well above what Bush was running for every year except his last year in office. That's what I think has a lot of voters angry, not that he's running a deficit but that he's set a new standard for what is acceptable.
So he's still got plenty of room to cut. And that includes entitlements since those are not Constitutionally protected.