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Where did the Mammoth U.S.
Budget Deficits Come From

Christian Science Monitor, by Peter Grier

Original Article

Posted By:Momoftwinteens, 9/29/2012 3:55:33 PM

What’s the cause of the federal government’s huge budget deficits? That’s a question that is harder to answer in the particular than you might think. The general problem is obvious: Uncle Sam has been spending more money than he takes in. The specific reasons as to why this state of affairs exists are a mix of human decisions, economic circumstance, and the cumulative effect of time.
Headline split by staff

Comments:
An interesting look at the deficit problem

  

Post Reply  

Reply 1 - Posted by: bob913, 9/29/2012 4:00:32 PM     (No. 8898869)

I can sum it up.
Congress spent our money like drunken bums.


Reply 2 - Posted by: Time4AR2, 9/29/2012 4:04:07 PM     (No. 8898878)

I can sum it up better:

A democratic Congress spent our money like drunken bums.


   

 

  


 
Reply 3 - Posted by: Ida Lou Pino, 9/29/2012 4:04:41 PM     (No. 8898881)

Ummm - - where? Where did it come from?

Hmmm - - I'd say - - i'd say it was the cost of the bridge to the 21st century. We had to build it - - it was a shovel-ready job - - but it was really, really expensive.

Other than that - - it's probably no one's fault - - the deficit just kinda showed up one day - - and hey - - what can you do?


Reply 4 - Posted by: country boy, 9/29/2012 4:16:52 PM     (No. 8898902)

I thought it has been pretty clear for some time

We have a type of Cloward–Piven strategy in place designed to turn our democracy into a dictatorship. Obama believes he will lead the country into this dictatorship.

http://en.wikipedia.org/wiki/Cloward%E2%80%93Piven_strategy


Reply 5 - Posted by: St. Pitbull, 9/29/2012 4:33:55 PM     (No. 8898939)

The next time that anyone hears a lib say that the dims are for "the little people", just spit in their face. The fact is that they have expanded government so much that it cannot do what it's few actual intended purposes are. The people who, through no fault of their own, truly need assistance aren't getting what they need to have a decent life at all from the dims. The dims have taken money which should have gone to them and spent it to buy the votes of the ignorant and lazy people that have no business being on welfare - like the obamaphone person (can't really tell the gender of it). As the people that you've just spit in their face wipe the spittle off their face, kick them in the groin and tell them that's from the truly needy people that the dims have screwed. Repeat as necessary.


Reply 6 - Posted by: oh-heck, 9/29/2012 4:56:18 PM     (No. 8898975)

Tax cuts accounted for a further $2.8 trillion of the $11.7 trillion discrepancy. (Yes, the big kahuna here is Mr. Bush’s 2001 reduction in income-tax rates, which alone accounts for about $1.2 trillion in revenue foregone over the decade.)

By my math that leaves the remaining $1.6 trillion to Mr Obama's various tax cuts and credits. Keep in mind that the current admin was really fond of credits that were paid to taxpayers that had no tax liability.


Reply 7 - Posted by: faldo, 9/29/2012 5:17:37 PM     (No. 8899004)

Cloward-Piven-McCain


   

 

  


 
Reply 8 - Posted by: sinic, 9/29/2012 5:41:51 PM     (No. 8899024)

Obama and his liberal friends say it was a gift from George W. Bush.


Reply 9 - Posted by: sgtfox of the jarhead clan, 9/29/2012 7:28:30 PM     (No. 8899206)

A fortune was spent buying votes with give away programs for the simple. It works every time with the same low intelligence tribal groups. Give them free phones and watch them jump and sing in the street like children.


Reply 10 - Posted by: snichols, 9/29/2012 7:33:35 PM     (No. 8899217)

#6: Interesting that revenues went way up with the Bush tax cut...how can that contribute to the debt? Huh?


Reply 11 - Posted by: ColonialAmerican1623, 9/29/2012 10:34:57 PM     (No. 8899483)

Refer to the article about over $1 billion spent for the royal grifters.


Reply 12 - Posted by: beancounter, 9/30/2012 12:28:37 AM     (No. 8899582)

While we're asking why some pie-in-the-sky fantasy projection from 11 years ago is wildly off, why don't we ask why the unemployment rate didn't stay below 8% as projected.


   

 



 

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Where did the Mammoth U.S.
Budget Deficits Come From
Christian Science Monitor, by Peter Grier    Original Article
Posted By: Momoftwinteens- 9/29/2012 3:55:33 PM     Post Reply
What’s the cause of the federal government’s huge budget deficits? That’s a question that is harder to answer in the particular than you might think. The general problem is obvious: Uncle Sam has been spending more money than he takes in. The specific reasons as to why this state of affairs exists are a mix of human decisions, economic circumstance, and the cumulative effect of time.
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