"President Obama Largely Inherited Today뭩 Huge Deficits" - Great chart to use!

Are_grits_groceries

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Fri Dec-18-09 07:08 AM
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"President Obama Largely Inherited Today뭩 Huge Deficits" - Great chart to use!

Notice the tiny contribution of Tarp, Fannie, and Freddie (shaded red) and the stimulus package (shaded yellow, just below the red area) to the deficit from 2012 onward. These are not the source of our long-term budget problems.

http://economistsview.typepad.com/economistsview/2009/12/president-obama-largely-inherited-todays-huge-deficits.html

That sums it up!

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liberal N proud

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Fri Dec-18-09 07:14 AM
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1. President뭩 first budget proposed to reduce anticipated deficits over the next ten years

chiefly by letting the Bush tax cuts expire on schedule for high-income taxpayers, closing certain tax loopholes and reforming the international tax system, keeping estate taxes at their 2009 parameters, and enacting health-reform and climate-change legislation on a deficit neutral basis.

At the link contained with in the source of the OP:
http://www.cbpp.org/cms/?fa=view&id=3036&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+cbpp%2FfYJq+%28Center+on+Budget+and+Policy+Priorities%29

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Toots

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Fri Dec-18-09 09:02 AM
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2. And to top it off Bernacke just said we can expect inflation and interest rates to go up.

Right now we are paying as much in interest on out National debt as our entire Defense Budget, and Interest rates are the lowest in a Century. Imagine just a 1% increase....What if Interest rates went up 5%? Our Interest alone on our Debt would be more than a trillion dollars a year. This is money just wasted.. Completely wasted..

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Laelth

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Fri Dec-18-09 09:33 AM
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3. That is a nice chart. Thanks. k&r n/t

:dem:

-Laelth

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rucky

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Fri Dec-18-09 09:36 AM
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4. We so incredibly have to repeal those tax cuts. n/t

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optimator

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Fri Dec-18-09 09:55 AM
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5. giving CITI a $38 billion tax cut yesterday

was a great way to reduce revenue. oops.

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HughMoran

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Fri Dec-18-09 09:57 AM
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6. Let the Bush tax cuts die

Don't they sunset soon or ?

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