They both had to be rebuilt.
Iraq was a justified war. We need the available funds to pursue such courses of action. What non-interventionists would like to do is increase entitlements to the point where we can't go to war.Iraq was unnecessary war that made up the bulk of the additional costs. Take that out and we would have been in a far better financial picture.
I am not expert but the way I think this works is that as the economy grows, the percentage of GDP owed as debt decreases. There is probably some optimal percentage of GDP that debt should be so as the economy grows, you can maintain deficit spending.Except we've never been able to do that. The only time we got close to getting a balanced budget was with significant cuts. You can't just grow yourself out of a deficit. Furthermore, Congress will constantly spend money as the economy grows. We saw domestic spending explode as well under the all GOP years during boom years. Congress will feed itself and continue deficits.That kind of deficit is in line with deficit's run by Reagan, Bush Sr. etc. That is the kind of deficit you can grow your way out of.
Significant amounts? You have evidence to back that up?Significant amounts which came over from the past fiscal year. People tend to ignore this.Somehow Obama has taken it to a $1.7 trillion deficit!!
$1.7 trillion is a ridiculous amount of deficit.Not really. What is unacceptable is the timeliness of spending.Obama's spending in a recession is totally unacceptable.
Deficit spending during recessions is acceptable.
Deficit spending during expansions is never.
Deficit spending is ok during expansions.