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Thread: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

  1. #321
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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Conservative View Post
    Do you really believe that the Democrat Controlled Congress didn't give Obama everything he wanted?
    If it did, and if the mixed Congress that followed did, then it was still the Congress who initiated deficit spending.

    Who supported deficit spending under Reagan? Under Bush?
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Dittohead not! View Post
    If it did, and if the mixed Congress that followed did, then it was still the Congress who initiated deficit spending.

    Who supported deficit spending under Reagan? Under Bush?
    Reagan got results with his deficit spending that resonated throughout the economy, not so with Obama. The 1.7 trillion that Reagan added to the debt was still less than 50% of GDP. Bush had about 70% debt to GDP, and Obama is well over 100%. Obama signed the Bush budget after adding to it and recycling TARP knowing that people would blame Bush. That is exactly what happened yet people ignore that it was Obama and the Democrats that set record deficits.

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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Eric7216 View Post
    That was my point. A high deficit during the FY2009 period when we had the worst recession for 30 or more years is perhaps acceptable. The recession ended during FY2009. But here we are 6 years removed from the end of that recession, probably a year or two from the next recession and we have a proposed deficit of $564 billion in FY2015.
    Expenditures in real terms have actually fallen after 2011, only to eclipse that mark by $6 billion for fiscal year 2014. Understand that automatic stabilizers are sensitive to poor economic conditions, as is the government's ability to generate income. Tax revenue has increased by roughly $1 trillion. Furthermore, deficit spending as a percentage of output has fallen from 11% of GDP to 2.8% of GDP; a drop of roughly 3/4. Since 1959, the average deficit as a % of GDP has been 3.7%; 3.2% if you factor out the past 6 years.

    Why focus strictly on place value?

    Oh, and a graph



    The right depicts deficit spending as APOGDP.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Conservative View Post
    Reagan got results with his deficit spending that resonated throughout the economy, not so with Obama. The 1.7 trillion that Reagan added to the debt was still less than 50% of GDP. Bush had about 70% debt to GDP, and Obama is well over 100%.
    Way to miss on the description of the debt situation. When Reagan entered office, debt as a percentage of GDP went from 30.79% to 50.23%; a change of 20.44%. So far, debt under the current administration has gone from 77.36% to 101.77%; a change of 24.41%. Interestingly enough, DPGDP actualled declined in 2013. As output growth eclipses debt growth, this metric will continue to fall.



    You are aware that the world has changed (quite a bit) since the 1980's?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Kushinator View Post
    Way to miss on the description of the debt situation. When Reagan entered office, debt as a percentage of GDP went from 30.79% to 50.23%; a change of 20.44%. So far, debt under the current administration has gone from 77.36% to 101.77%; a change of 24.41%. Interestingly enough, DPGDP actualled declined in 2013. As output growth eclipses debt growth, this metric will continue to fall.



    You are aware that the world has changed (quite a bit) since the 1980's?
    Love how liberals always point to percentage change especially when the base is so much higher. I prefer actual dollars because it is actual dollars that we pay debt service in or doesn't that matter to you? Think the debt service on 1.7 trillion is the same as the debt service on 7 trillion?

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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Conservative View Post
    Love how liberals always point to percentage change especially when the base is so much higher. I prefer actual dollars because it is actual dollars that we pay debt service in or doesn't that matter to you? Think the debt service on 1.7 trillion is the same as the debt service on 7 trillion?
    As usual, you shifted trajectories as a means of expressing your universal opposition to the current administration.

    Interestingly enough, the debt service as a percentage of output was much higher than it was now, and was a larger portion of total expenditures.

    By all means, keep the hypocrisy flowing.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Kushinator View Post
    As usual, you shifted trajectories as a means of expressing your universal opposition to the current administration.

    Interestingly enough, the debt service as a percentage of output was much higher than it was now, and was a larger portion of total expenditures.

    By all means, keep the hypocrisy flowing.
    The reality is the debt service is the fourth largest budget item and much of it goes overseas. How does that help the American economy?

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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Tettsuo View Post
    U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn - Bloomberg



    OMG, we need to stop Obama from spending us into ruin!!

    Oh, wait.... the deficit is SHRINKING? Whodathunkit! I guess he's NOT the spender in chief as he's been labeled by the consistent and reliable deficit increasing Republicans.[/FONT][/COLOR]
    The Deficit is shrinking because revenues are at historical high's. Looks like your spender in chief still occupies his spot

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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by Conservative View Post
    The reality is the debt service is the fourth largest budget item and much of it goes overseas. How does that help the American economy?
    Reality is, debt service went from being the 3rd largest budget item in the 1980's to 4th in the current.

    Keep the hypocrisy coming!
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

    Quote Originally Posted by cpwill View Post
    The Deficit is shrinking because revenues are at historical high's. Looks like your spender in chief still occupies his spot
    I forgot you were among the "fear of big numbers" crowd. Why not bring up unfunded liabilities while you're at it?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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