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Discussion and Debate
Discussion and Debate
Politics
American Politics
We Have a "Paying For It Problem"
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<blockquote data-quote="contango" data-source="post: 62490122" data-attributes="member: 265412"><p>Not really true.</p><p></p><p>Debt is the accumulated deficit. So if you ran a $100 budget surplus for three years and then ran a deficit of $50 for four years you'd still be ahead by $100.</p><p></p><p>Deficit spending merely means money out exceeds money in. Debt is when money out exceeds money in over a period of time.</p><p></p><p>Deficit spending isn't a problem when there's money to fall back on. When there isn't money to fall back on it's a bigger problem.</p><p></p><p>There's also an important difference in that if the deficit is cut to nothing it still doesn't repay a penny of the debt. To repay the debt the deficit must be cut to zero and then further cuts must be made to generate a surplus which can be used to repay the debt.</p><p></p><p>I cut the rest of the post as national economies don't tend to turn on a dime so there's little point criticising this president or that president for what happened to take place on their watch. As people have said the dot-com boom straddled Clinton and Bush, 9/11 happened under Bush, the subprime fiasco happened under Bush but the seeds were sown way back when, and so on.</p><p></p><p>Since there's a Democrat in the White House it's not surprising that the Democrats look at all the good economic data and claim credit for it due to Obama's great policies and blame all the bad stuff on the mess left by Bush, while the Republicans look at the good news and claim it's the result of Bush's great policies and blame all the bad stuff on Obama ruining the great legacy that Bush left him.</p></blockquote><p></p>
[QUOTE="contango, post: 62490122, member: 265412"] Not really true. Debt is the accumulated deficit. So if you ran a $100 budget surplus for three years and then ran a deficit of $50 for four years you'd still be ahead by $100. Deficit spending merely means money out exceeds money in. Debt is when money out exceeds money in over a period of time. Deficit spending isn't a problem when there's money to fall back on. When there isn't money to fall back on it's a bigger problem. There's also an important difference in that if the deficit is cut to nothing it still doesn't repay a penny of the debt. To repay the debt the deficit must be cut to zero and then further cuts must be made to generate a surplus which can be used to repay the debt. I cut the rest of the post as national economies don't tend to turn on a dime so there's little point criticising this president or that president for what happened to take place on their watch. As people have said the dot-com boom straddled Clinton and Bush, 9/11 happened under Bush, the subprime fiasco happened under Bush but the seeds were sown way back when, and so on. Since there's a Democrat in the White House it's not surprising that the Democrats look at all the good economic data and claim credit for it due to Obama's great policies and blame all the bad stuff on the mess left by Bush, while the Republicans look at the good news and claim it's the result of Bush's great policies and blame all the bad stuff on Obama ruining the great legacy that Bush left him. [/QUOTE]
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We Have a "Paying For It Problem"
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