Obama has been in office for 4 yrs and he has done nothing for the economy except spend money and give us Obamacare that is adding yet another entitlement to the list of many.Right now the government should be concerned with assisting in getting the economy moving again, going through the remains of the housing bubble, consolidating and concretizing Dodd-Frank so that banks know what to expect going forward in terms of regulation, and so on.
What is stupid is you thinking we can spend our way out of Obama's anemic economy, that is the height of stupidity. Further deficits run up our national debt, but you don't care about that, as long as you don't have to pay for it.Focusing on the deficit right now is the height of stupidity.
Do higher taxes mean anything to you?Why do you think everyone is so worried about the fiscal cliff?
Let me put it this way, under Obama and his liberal clan will have raised the national debt by over 10 trillion in Obama's 8 yr term. More than all the presidents before him combined.The federal budget is approved by both congress as well as the president. Blaming Obama for the budget deficit is rather silly in that context.
I never said it did, but the National debt will, and Obama throwing money at his economy thinking that will cure his economic problem is flat out stupidity.Also, the federal deficit does not cause GDP growth to slow. This is very obvious and supported by rudimentary economics and a cursory study of the federal budget deficit/surplus and GDP growth over time.
Geeee debt is financed by securities, that is brilliant. But what you fail to realize is those securities are loans that have to be paid back. And when we have to pay them back that takes capital out of the economy. We have already spent 20+ trillion of borrowed money that was injected into our economy so we could live high on the hog, and when it's time to pay that money back you have to dig deep into your pocket. Thus placing a severe drag on the economy.Finally, debt is not a drag on the economy necessarily, and certainly not for the reason you state, simply because the debt is financed through the issuance of securities and not taxation.
We always have the option of defaulting on our debt or keep printing more and more money to pay the debt, however that drives the value of our dollar down. So either way our economy is sucking big time. But of course you know that, but don't care, your a tax, borrow, spend and give freebees liberal. Debt means nothing to a liberal.