Quote:
Originally Posted by dyna mo
BOOM
"A final word on Obama’s point from the experts.
The deficit has come down in recent years because of the strengthening economy, which drives tax revenues up, and the draw-down of various economic stimulus programs that were implemented to weather the financial crisis. Additionally, the expiration of 2 percent payroll tax cuts and increases in tax rates for high-income earners played a role, albeit a smaller one.
"It’s not clear one would want to view the evolution as relating to fiscal responsibility rather than an improving economy," Auerbach said.
The deficits have largely come down as a result of the improved economy for which Obama cannot assume full credit."
Barack Obama claims deficit has decreased by two-thirds since taking office | PolitiFact
"under current law, deficits will begin rising again in 2016—and by 2024, debt will reach 78 percent of GDP, twice the average of the past 40 years."
https://www.cbo.gov/publication/45229
fiscal responsibility for either party is a joke concept. |
Improving the economy is how they reduce the deficit, it's pretty much how CLinton did it as well. The reason it grew so much under Bush and even the start of Obam's presidency was because of the two wars and the economy crashing.. It's never because they cut spending.
Well Obama did cut spending on wars.. But that was a given as we couldn't very well stay in them non stop.. Well as long as you keep the neo cons like McCain, Cheney ect out of office..