Re:The smug style in American liberalism
by CalChris on Wednesday November 09, 2016 @03:50AM
(#12908081)
Of course, if you look up in the dictionary you'll find that deficit and debt are distinct words:
debit: something that is owed or that one is bound to pay
to or perform for another
deficit: the amount by which expenditures or liabilities
exceed income or assets
http://www.dictionary.com/browse/deficit
http://www.dictionary.com/browse/debtThe Federal deficit was about $1.4T when Obama started and its about $600B now. Obama has been very fiscally conservative. In particular, he put the Afghanistan and Iraq wars on normal rather than emergency funding basis.
http://www.usgovernmentspending.com/federal_deficit_chart.ht...
Re:The smug style in American liberalism
by majewsky on Wednesday November 09, 2016 @07:07AM
(#12909570)
Only tangentially related, but I'm amazed by the absolute value of the US deficit. The German federal deficit used to be around 10-20 billion € (now down to zero) and everyone was crying over how horribly high it is. (I know that Germany is smaller, but it has at least a fourth of the US population.)
Re:The smug style in American liberalism
by CalChris on Wednesday November 09, 2016 @07:19AM
(#12909630)
Post WWII, US deficits grow under Republicans and shrink under Democrats.
http://si.wsj.net/public/resources/images/BN-EX454_wwii10_G_...
Re:The smug style in American liberalism
by gaius on Wednesday November 09, 2016 @09:30AM
(#12910513)
It's a lagging indicator.
Re:The smug style in American liberalism
by pessimizer on Wednesday November 09, 2016 @09:55AM
(#12910672)
We have run massive trade deficits since Reagan. Those ultimately either have to show up as national debt or personal debt. After 35 years, we're nearly maxing out both. Germany has a trade surplus (basically doing the same thing to the rest of the EU.)
edit:
http://cepr.net/blogs/beat-the-press/national-income-account...
http://www.dw.com/en/italian-pm-renzi-lashes-out-at-german-t...
Re:The smug style in American liberalism
by lintiness on Wednesday November 09, 2016 @08:49AM
(#12910194)
you are out of your mind. the only reason the deficit is south of a trillion is interest rates are HALF what they were in 08.
2008 fed debt: ~10T
2016 fed debt: ~19T
2008 int exp: ~450M
2016 int exp: ~450M
he's spent like a lunatic, and his aca has just gotten started.
Re:The smug style in American liberalism
by CalChris on Wednesday November 09, 2016 @10:40AM
(#12910943)
Spent like a lunatic would be his predecessor with two unfunded off the books wars, Medicare Part D, the 'Ownership' Society all paid for with tax cuts.
Re:The smug style in American liberalism
by adt2bt on Thursday November 10, 2016 @05:17AM
(#12919176)
What could he have feasibly done otherwise?
https://en.wikipedia.org/wiki/National_debt_of_the_United_St...