General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRepublicans are delusional about US spending and deficits
Contrary to the widely repeated stories of out-of-control deficits and spending, deficits have plunged in the last four years falling from 10.1% of GDP in 2009 to just 4% of GDP in 2013. The Congressional Budget Office projects the deficit to be just 3.4% of GDP in 2014. The latest projections show the debt-to-GDP ratio falling for the rest of the decade.
In other words, the story of out-of-control debts and deficits is just plain wrong. Less polite people would call it a lie, but it stands at the center of the public debate because the media consider it rude to point out a truth that would embarrass so many important politicians. The idea that we face a longer term deficit problem of enormous proportions has little better grounding in reality. First, it is worth noting that we have not had a constant upward path of spending as is widely asserted in Washington, and widely believed around the country, due to the incompetence of budget reporters.
During the Reagan presidency spending averaged more than 22% of GDP, peaking at 23.5% in 1985. This year it is projected to be 21.6% of GDP. The latest CBO projections show spending rising back to Reagan era levels towards the end of the 10-year budget window.
Over a longer term, spending is projected to rise further due to projections of rising health care costs and a growing interest burden, which is the result of a growing debt. The deficit fear mongers like to hype these projections of large deficits decades in the future to advance their agenda of cutting Social Security and Medicare.
The rest: http://www.theguardian.com/commentisfree/2013/oct/14/shutdown-republicans-government-spending-delusions
kelliekat44
(7,759 posts)of making voters understand this.
Cali_Democrat
(30,439 posts)to advance their main agenda which is to destroy social security and medicare.
DURHAM D
(32,610 posts)Medicare and SS were bankrupt. He has never changed his mind. In fact, he has clearly continued on that path.
Why would you think it is just Republicans that want to destroy SS & Medicare.
Fumesucker
(45,851 posts)JaneyVee
(19,877 posts)Initech
(100,081 posts)Is like deleting text files from a 1TB hard drive.
Thinkingabout
(30,058 posts)Work and extend the debt ceiling. They talk a good talk about too much spending but tack on the earmarks.