Some good, some bad in this report. The good news is our debt and deficits are
manageable with strong leadership and bi-partisan work. The bad news is
we'll have to have both parties compromise using spending cuts and tax
increases. My votes will go to politicans who will use both to solve our
FT's comments are very reasonable. Unfortunately, one of the nation's
two major political parties has an unofficial but still affective requirement.
Members sign an oath to never NEVER vote for any kind of tax increase. Break the
oath and you're condemned to going back to being a corporate attorney or
The sequester and the brief government shut down did have some positive effects.
When we eliminate the deficit completely we can save this country from
default.@ Mark. If you like paying higher taxes feel free to do so!
Mark B.The GOP will be foreced into re-nigging on it's no new tax
pledge. The only way our deficit can be reduced without raising revenues is by
slashing Medicare to unsupportive levels. They'll lose power without
support from the masses so they'll relinquish the no new tax pledge or
deficits will spiral out of control. Politicans crave power more than anything
else and the GOP will have very little of it without conceding some support for
To "FT" did you actually read the article? The deficits are not
manageable. They stated that the "The agency sees the deficit sliding to
$478 billion next year before beginning a steady rise years through 2024 that
would bring deficits back above $1 trillion a year."That means
that deficits are going up. If deficits continue to increase, that means that
the debt will continue to grow.
It's interesting that this smallest of all of Obama's deficits is
still larger than the one Bush had when then Senator Obama went on record
harshly criticizing Bush for having such a "massive, unconscionable deficit
that is immoral to pass down to our children and grandchildren". And yet in his first year in office as president, Obama literally more than
doubled that "immoral" budget deficit with excessive spending... and has
never yet been able to take it down to that level he was so vehemently critical
Red Shirt-I understood the article as well as read it. The numbers cited
in the article are manageable with prudent, sound fiscal policy. They go up if
nothing changes. Raise some taxes, cut a lot of spending and we can reduce the
deficit. Doing nothing is what will cause the deficit to increase.
To "FT" explain how increasing deficits is manageable. Explain how it
is even sound fiscal policy.Did you see how they are not talking
deficit reduction over the next 10 years. They are talking raising deficits.I really don't think you read the article very well since they
stated quite clearly that "the deficit sliding to $478 billion next year
before beginning a steady rise years through 2024 that would bring deficits back
above $1 trillion a year." So the CBO predicts RISING deficits. That is
based on current economic plans made by this administration and the current
congress.They also said that "that economic growth will diminish
to a pace that is well below the average seen over the past several
decades".Since when is it sound economic policy to increase debt
at the same time you slow economic growth?In this case, doing
nothing would be better than what they are doing. Hitting the accelerator on
economic collapse is never a good thing.
@redshirtI don't think you read FT or the article very well
(as usual) FT is clearly stating that if the government uses sound fiscal policy
it can prevent the predicted rise in the deficit. What I can never figure out is
if you actually understand what you are reading an purposely misrepresent it or
if you really do not understand what you are reading.
To "intervention" I read it and understood it quite well. The problem
is that continued spending that does not eliminate the deficit will only
continue to raise the debt. The increasing national debt is a drag on the
economy. As the CBO report shows, the government has not intention of being
responsible and reducing deficits or controlling spending.We cold
eliminate the debt and deficit, if the government actually chose to be
responsible. But, we have to face reality. The government has no intention to
reign in spending for the long term.Are you sure you understood the
Walking in lock step with Obama creates an inability to comprehend reality or
even reading comprehension. This is indeed troubling and why the stock market
is sputtering......they are seeing that Obama and his cronies cannot go on
printing money forever and the market will eventually have to return to valuing
companies based upon performance instead of whether or not the Obama will print
them a bailout?