Oh my

Blairsville, GA

#1 Mar 11, 2013
Dwindling Deficit Disorder
By PAUL KRUGMAN
Published: March 10, 2013 237 Comments
http://www.nytimes.com/2013/03/11/opinion/kru...

For three years and more, policy debate in Washington has been dominated by warnings about the dangers of budget deficits. A few lonely economists have tried from the beginning to point out that this fixation is all wrong, that deficit spending is actually appropriate in a depressed economy. But even though the deficit scolds have been wrong about everything so far — where are the soaring interest rates we were promised?— protests that we are having the wrong conversation have consistently fallen on deaf ears.

What’s really remarkable at this point, however, is the persistence of the deficit fixation in the face of rapidly changing facts. People still talk as if the deficit were exploding, as if the United States budget were on an unsustainable path; in fact, the deficit is falling more rapidly than it has for generations, it is already down to sustainable levels, and it is too small given the state of the economy.

Start with the raw numbers. America’s budget deficit soared after the 2008 financial crisis and the recession that went with it, as revenue plunged and spending on unemployment benefits and other safety-net programs rose. And this rise in the deficit was a good thing! Federal spending helped sustain the economy at a time when the private sector was in panicked retreat; arguably, the stabilizing role of a large government was the main reason the Great Recession didn’t turn into a full replay of the Great Depression.

But after peaking in 2009 at $1.4 trillion, the deficit began coming down. The Congressional Budget Office expects the deficit for fiscal 2013 (which began in October and is almost half over) to be $845 billion. That may still sound like a big number, but given the state of the economy it really isn’t.

Bear in mind that the budget doesn’t have to be balanced to put us on a fiscally sustainable path; all we need is a deficit small enough that debt grows more slowly than the economy. To take the classic example, America never did pay off the debt from World War II — in fact, our debt doubled in the 30 years that followed the war. But debt as a percentage of G.D.P. fell by three-quarters over the same period.....

Since: Dec 10

Location hidden

#2 Mar 11, 2013
You simply do not understand the word "Deficit"

For Example:

The Splost 2 Fund had a deficit fund balance of $5,051,951 on the 2008 audit.

The Splost 2 Fund had a deficit fund balance of $7,668,013 on the 2009 audit.

The Splost 2 Fund had $7,381,609 moved to the Splost 2 Fund leaving a deficit of $286,404 in 2010.

But.....

Lamar said the SPLOST 2 was paid in full in August of 2009. We simple do not know how to read the audit.

So don't worry Oh My about the 1.4 trillion deficit it's not what you think. Everything is going to be OK this country is in fine shape.

You just have to have faith in our leaders, they know what is best for us.
Bet you did not know

Cleveland, GA

#3 Mar 11, 2013
ACOG wrote:
You simply do not understand the word "Deficit"
For Example:
The Splost 2 Fund had a deficit fund balance of $5,051,951 on the 2008 audit.
The Splost 2 Fund had a deficit fund balance of $7,668,013 on the 2009 audit.
The Splost 2 Fund had $7,381,609 moved to the Splost 2 Fund leaving a deficit of $286,404 in 2010.
But.....
Lamar said the SPLOST 2 was paid in full in August of 2009. We simple do not know how to read the audit.
So don't worry Oh My about the 1.4 trillion deficit it's not what you think. Everything is going to be OK this country is in fine shape.
You just have to have faith in our leaders, they know what is best for us.
I feel kinda like the Jews in Germany during the 2nd world war. Only difference is that instead of marching to the gas houses I'm marching toward the poor house.
Bored

Dahlonega, GA

#4 Mar 11, 2013
Oh my wrote:
Dwindling Deficit Disorder
By PAUL KRUGMAN
Published: March 10, 2013 237 Comments
http://www.nytimes.com/2013/03/11/opinion/kru...
For three years and more, policy debate in Washington has been dominated by warnings about the dangers of budget deficits. A few lonely economists have tried from the beginning to point out that this fixation is all wrong, that deficit spending is actually appropriate in a depressed economy. But even though the deficit scolds have been wrong about everything so far — where are the soaring interest rates we were promised?— protests that we are having the wrong conversation have consistently fallen on deaf ears.
What’s really remarkable at this point, however, is the persistence of the deficit fixation in the face of rapidly changing facts. People still talk as if the deficit were exploding, as if the United States budget were on an unsustainable path; in fact, the deficit is falling more rapidly than it has for generations, it is already down to sustainable levels, and it is too small given the state of the economy.
Start with the raw numbers. America’s budget deficit soared after the 2008 financial crisis and the recession that went with it, as revenue plunged and spending on unemployment benefits and other safety-net programs rose. And this rise in the deficit was a good thing! Federal spending helped sustain the economy at a time when the private sector was in panicked retreat; arguably, the stabilizing role of a large government was the main reason the Great Recession didn’t turn into a full replay of the Great Depression.
But after peaking in 2009 at $1.4 trillion, the deficit began coming down. The Congressional Budget Office expects the deficit for fiscal 2013 (which began in October and is almost half over) to be $845 billion. That may still sound like a big number, but given the state of the economy it really isn’t.
Bear in mind that the budget doesn’t have to be balanced to put us on a fiscally sustainable path; all we need is a deficit small enough that debt grows more slowly than the economy. To take the classic example, America never did pay off the debt from World War II — in fact, our debt doubled in the 30 years that followed the war. But debt as a percentage of G.D.P. fell by three-quarters over the same period.....
Boring
Dwindling Deficit Disorder
By PAUL KRUGMAN
KRUGMAN is referring to a Mental State of mind.
Greenspandex

Cleveland, GA

#5 Mar 11, 2013
I'm a big picture type of guy, not an economist that knows lots of details.

I'm shocked that when only 1 out of 3 US citizens actually works, that we've been able to survive this long.

Could there be a new kind of economic reality, whereby our economy could survive with nobody working. I'm actually serious.
Oh my

Blairsville, GA

#6 Mar 11, 2013
Greenspandex wrote:
I'm a big picture type of guy, not an economist that knows lots of details.
I'm shocked that when only 1 out of 3 US citizens actually works, that we've been able to survive this long.
Could there be a new kind of economic reality, whereby our economy could survive with nobody working. I'm actually serious.
"only 1 out of 3 US citizens actually works"

This really doesn't mean much, US Citizens would include children too young to work, retired folks, the prison population, and people who are disabled. Does it include people who are currently unemployed but who might be employed tomorrow. And it doesn't include non-US Citizens who work and pay the taxes associated with work.
Greenspandex

Toccoa, GA

#7 Mar 11, 2013
It means a whole lot. It includes all of the above. 1 person supports 2 others.

Interesting math to make that work. Can you extrapolate that to make nobody works work?
Bored

Dahlonega, GA

#8 Mar 11, 2013
Greenspandex wrote:
It means a whole lot. It includes all of the above. 1 person supports 2 others.
Interesting math to make that work. Can you extrapolate that to make nobody works work?

Dwindling Deficit Disorder
By PAUL KRUGMAN
KRUGMAN is referring to a Mental State of mind.

and you are posting to a Dwindling Deficit Disorder.
Informed Opinion

Alva, FL

#9 Mar 11, 2013
Oh my wrote:
Dwindling Deficit Disorder
By PAUL KRUGMAN
Published: March 10, 2013 237 Comments
http://www.nytimes.com/2013/03/11/opinion/kru...

For three years and more, policy debate in Washington has been dominated by warnings about the dangers of budget deficits. A few lonely economists have tried from the beginning to point out that this fixation is all wrong, that deficit spending is actually appropriate in a depressed economy. But even though the deficit scolds have been wrong about everything so far — where are the soaring interest rates we were promised?— protests that we are having the wrong conversation have consistently fallen on deaf ears.

WhatÂ’s really remarkable at this point, however, is the persistence of the deficit fixation in the face of rapidly changing facts. People still talk as if the deficit were exploding, as if the United States budget were on an unsustainable path; in fact, the deficit is falling more rapidly than it has for generations, it is already down to sustainable levels, and it is too small given the state of the economy.

Start with the raw numbers. AmericaÂ’s budget deficit soared after the 2008 financial crisis and the recession that went with it, as revenue plunged and spending on unemployment benefits and other safety-net programs rose. And this rise in the deficit was a good thing! Federal spending helped sustain the economy at a time when the private sector was in panicked retreat; arguably, the stabilizing role of a large government was the main reason the Great Recession didnÂ’t turn into a full replay of the Great Depression.

But after peaking in 2009 at $1.4 trillion, the deficit began coming down. The Congressional Budget Office expects the deficit for fiscal 2013 (which began in October and is almost half over) to be $845 billion. That may still sound like a big number, but given the state of the economy it really isnÂ’t.

Bear in mind that the budget doesn’t have to be balanced to put us on a fiscally sustainable path; all we need is a deficit small enough that debt grows more slowly than the economy. To take the classic example, America never did pay off the debt from World War II — in fact, our debt doubled in the 30 years that followed the war. But debt as a percentage of G.D.P. fell by three-quarters over the same period.....
Stop it !

Stop posting fact based economic analysis by Nobel Prize winning economists with a track record of being correct.

We Right Wingers demand our "experts" have proven track record of being wrong.

We like to take advice on Constitutional Rights and weapons of mass destruction from "Dick" Cheney. Yes he always wrong, but so what.

We take advice on business from Paul Ryan - who once did hold a job on the private sector (helping divorcees with self-esteem issues stretch and flex). Hey, they were lonely and he got off the government teat and into the government payroll on no time flat.

And we take advice on economics from those who have us "trickle down" economics, subsidies for corporations, and tax breaks for the rich - just because none if these policies ever actually resulted in higher employment or reduced deficits is not a problem for us - we worship failure.

So stop bringing the advice of experts with a proven track record of being right - we just don't care.
Bored

Dahlonega, GA

#10 Mar 12, 2013
Informed Opinion wrote:
<quoted text>
Stop it !
Stop posting fact based economic analysis by Nobel Prize winning economists with a track record of being correct.
We Right Wingers demand our "experts" have proven track record of being wrong.
We like to take advice on Constitutional Rights and weapons of mass destruction from "Dick" Cheney. Yes he always wrong, but so what.
We take advice on business from Paul Ryan - who once did hold a job on the private sector (helping divorcees with self-esteem issues stretch and flex). Hey, they were lonely and he got off the government teat and into the government payroll on no time flat.
And we take advice on economics from those who have us "trickle down" economics, subsidies for corporations, and tax breaks for the rich - just because none if these policies ever actually resulted in higher employment or reduced deficits is not a problem for us - we worship failure.
So stop bringing the advice of experts with a proven track record of being right - we just don't care.
Boring-boring-boring-boring-bo ring-boring-boring-boring-bori ng-boring-boring0boring[boring [boring]boring-boringboriong-b oringpboring-boring-boring*bor ing(boring%boring$boring#borin g#boring!boring-bporing&bo ring.
Informed Opinion

Naples, FL

#11 Mar 12, 2013
Bored wrote:
<quoted text>Boring-boring-boring-b oring-boring-boring-boring-bor ing-boring-boring-boring0borin g[boring[boring]boring-boringb oriong-boringpboring-boring-bo ring*boring(boring%boring$bori ng#boring#boring!boring-bporin g&boring.
I don't understand - did you find it boring ?
Bored

Dahlonega, GA

#12 Mar 12, 2013
Informed Opinion wrote:
<quoted text>
I don't understand - did you find it boring ?

A case of Dwindling Deficit Disorder you have.
Oh my

Blairsville, GA

#13 Mar 13, 2013
Sorry, GOP: You're still losing the sequester blame game
WED MAR 13, 2013 AT 07:30 AM PDT
by Jed Lewison
http://www.dailykos.com/story/2013/03/13/1193...

Just before sequestration kicked in, most Americans said they opposed the looming automatic budget cuts and would give Republicans the greatest share of the blame if they ended up taking place. Now, a little over two weeks later, the cuts are in effect and, as they promised they would, Americans are blaming the GOP.

In the latest Washington Post/ABC Poll, 39 percent of Americans approved the automatic budget cuts while 53 percent opposed it. It's not hard to understand why Americans oppose the cuts: 64 percent said they thought the cuts would hurt the economy, 60 percent said they thought the cuts would hurt the government's ability to provide basic services, and 69 percent said they thought the cuts would hurt the military.

Sixty-eight percent of Americans said they wanted President Obama and congressional Republicans to continue discussions about how to replace the sequester, but in the absence of a deal to do so, Republicans are continuing to get more of the blame. Forty-seven percent of Americans blamed Republicans exclusively while just 33 percent blamed the president. Fourteen percent said both sides deserved the blame. These are essentially the same numbers from the previous Washington Post/ABC survey when 45 percent blamed Republicans and 32 percent blamed the president.

The survey also showed the President Obama's job approval rating stood at 50 percent approve, 46 disapprove. This was reported as a drop from his numbers earlier this year, when his approval rating was at 55 percent, but it's also a better approval rating than he had one year ago in the same survey. Then, his rating was underwater with 46 percent approving and 50 percent disapproving.

Meanwhile, Congress as a whole is still wildly unpopular with a 16 percent approval rating and 80 percent disapproval. Congressional Republicans have a 24 percent approval and 72 percent disapproval rating and Democrats have a 34 percent approval and 64 percent disapproval rating.
Another Source

Jefferson, GA

#14 Mar 13, 2013
Sorry Liberals, your bloomers are showing.
Dailykos.com = a site with one viewpoint only.

Dissemination is a two-edged sword that will cut you off at the knees when you screw it up.

From the horse's mouth at;
http://abcnews.go.com/blogs/politics/2013/03/...

"For all the dire warnings, most Americans welcome a five percent cut in overall federal spending this year. But the defense budget is another matter.

The public by nearly 2-1, 61-33 percent, supports cutting the overall budget along the lines of the sequester that took effect last Friday. But by nearly an identical margin, Americans in this ABC News/Washington Post poll oppose an eight percent across-the-board cut in military spending."


And from a liberal site;
http://www.huffingtonpost.com/2013/03/06/sequ...

"Americans broadly support the overall spending cuts brought by sequestration, but are equally opposed to the reductions in military spending, according to a Washington Post/ABC poll."

"The survey found 61 percent support and 33 percent opposition for across-the-board cuts in federal spending this year, with a nearly mirror-image 34 percent approving and 60 percent disapproving of cuts to military expenses."

"Majorities across all parties support the overall cuts, with Republicans the most staunchly in favor. The GOP is also most deeply opposed to the military cuts, while Democrats are split about evenly."



"As the March 1 deadline for sequestration approached, Obama seemed to be sprinting toward a clear political win. Then he stumbled."

http://www.washingtonpost.com/blogs/the-fix/w...

Stumble and Fumble.

"His approval rating now sits at 50 percent with 46 percent disapproving, a far cry from the 55 percent approve/41 percent disapprove score he enjoyed in a mid-January Post-ABC poll.

Just 44 percent approve of Obama’s handling of the economy in the new Post-ABC survey, down from 50 percent who said the same in January. And, perhaps most tellingly, Obama enjoys just a 44 percent to 40 percent advantage over congressional Republicans when people are asked who would do a better job handling the economy — down from an 18-point bulge on that same question in a December 2012 Post-ABC survey."
Another Source

Jefferson, GA

#15 Mar 13, 2013
Obama has lost his cool and his fool, what a stumble! What a fumble! A lame duck with no wings.

Now he's a sitting duck waiting for Biden to bring out his shotgun.


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