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To: pepsionice

I still want to know why the deficit “doubled” to an amount greater than all his predecessors. Was it bailouts? Was it changes to entitlements? Was it giving money away to prop up third world countries? The war efforts under Obama don’t even come near to what happened durding Bush’s term so why so much money spent? Should we find out what was done and what of those items should be cut? Is it more a spending problem than a revenue problem? Our federal government should have the money and the staff to do such research or perhaps the research is already there. I think the American people have a right to know what happened. Like Obama or the current government or not depend on answers to such issues. What was the spending and was it a good decision?


8 posted on 11/14/2012 9:00:55 PM PST by annajones (Please Act)
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To: annajones

Very Good topic and posts!

I see it as failed Keynsian economics. Just keep throwing out money to prop up and build up an economy is in itself creating an artificial economy which is a “bubble” that will burst when the money fails to produce a true consumer business cycle.

Spending money bailing out GM was not good. Not the way it was done. The Chevy Volt is a disaster. Solandra solar fiasco was another. The problem is emblematic that you have intellectual socialist at the helm doing what they think “business” needs rather than get a businessman that knows what to do.


10 posted on 11/14/2012 9:42:43 PM PST by ccfromsc
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To: annajones
One of the things that drove the increase in spending was the first wave of Baby Boomer retirements. Social Security and Medicare outlays are spiraling out of control.

Another thing has been the growth of Social Security Disability Insurance claims in the last few years. It's no secret that many middle-aged people who are part of the long-term unemployed and may never work again are using SSDI as a source of income once their unemployment benefits expire.

12 posted on 11/15/2012 3:33:19 AM PST by Alberta's Child ("I am the master of my fate ... I am the captain of my soul.")
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