Wednesday, December 25, 2013

Deficit Smaller Than Some People Predicted (But DEBT is Still Large and Growing)

Today's budget deficit, as seen from 2009.  

I like Bruce B., and sometimes agree with him.  But in this case his blind cheerleading for Obama is a little over the top.  Sure, yes, GWB was very bad.  But there are structural problems that Obama has not only done nothing to fix, but actually refuses even to mention. 

Those problems are (1) tax code/rates; (2) entitlement spending; (3) military spending.

(I'm not counting health care costs, though ACA is a disaster as well.  But Obama has mentioned it.  He lied about it, but he did mention it.)

Obama's policy (and Bruce B's defense of it) goes something like this.  There is an enormous iceberg ahead of us.  The previous president/captain steered us straight toward the iceberg, at very high speed. 

We changed captains, and now we are moving toward the iceberg somewhat more slowly.  But the current captain refuses even to discuss changing direction.  And he's trying to blame the previous captain.  Sure, the previous captain was a stone idiot.  But YOU are the captain now, Mr. Obama.  And bizarre, tone-deaf cheerleading from Bruce B. and the rest of the cast of the propaganda arm of the Democratic Party won't change that.  We need to change direction, not speed.


Jimbo said...

So Obama gets all credit for the infamous sequester?

Pelsmin said...

I don't get one thing; yes W spent too much on military, entitlements, etc. But how do you figure Obama slowed this down? Bush had destructive policies here, but Obama's are far worse.
Please explain how O reined things in.

JWO said...

Eliminating the Deficit is Technically Easy but Still Politically Impossible

A rational fed gov. would cut defense by 50%, cut SS by about 25% and medicare by about 50%. So why worry?