America has conquered its debt crisis with incredible speed

  • Posted by a hidden member.
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    Apr 24, 2014 8:57 AM GMT
    Spending by the US Federal government has seen the steepest drop as share of national income since demobilisation after the Second World War.

    Claims that President Barack Obama is bankrupting America with a lurch towards hard-Left statism are for tabloid consumption only. Outlays have fallen from 24.4pc to 20.6pc of GDP in five years. Spending is roughly in line with its 40-year average. This fiscal squeeze has been achieved without driving the economy into recession or a Lost Decade, a remarkable feat.

    The US Congressional Budget Office expects the budget deficit to drop to 2.8pc of GDP this year, and 2.6pc next year. This is about the same as the eurozone but with a huge difference. The US economy is expanding fast enough to outgrow its debts.

    http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10783568/America-has-conquered-its-debt-crisis-with-incredible-speed.html

    Pretty impressive.
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    Apr 24, 2014 1:05 PM GMT
    Facts? We don't need no stinkin' facts! We're right-wingers!
  • tj85016

    Posts: 4123

    Apr 24, 2014 1:28 PM GMT
    DeficittoGDP.png

    it really couldn't have gotten much worse, I'd like to see the off-balance sheet numbers though
  • tj85016

    Posts: 4123

    Apr 24, 2014 1:29 PM GMT
    borrowing-percent-gdp-2000-14-500x370.pn
  • Posted by a hidden member.
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    Apr 24, 2014 1:57 PM GMT
    ...And Nero fiddled while Rome burned.

    Doubling the national debt is not "conquering it." In eight years, every penny of federal income tax will be servicing the interest alone on our debt. None left for infrastructure, health care, anything.
    http://www.usnews.com/news/articles/2012/11/19/how-the-nations-interest-spending-stacks-up
  • neosyllogy

    Posts: 1714

    Apr 24, 2014 2:12 PM GMT
    Not sure what the message is here.
    The numbers don't say anything impressive about the obama administration. (Note: I'm very liberal; not on an anti-obama train)

    They just say that the economy has grown and they give the bulk of that to the energy boom. That's coming from Fracking and other "conservative"-associated energy technologies.

    So... this is actually more of a conservative paen than a liberal one.
    It just says that spending hasn't risen as fast as the economy is *projected* to: so we're in lots of debt, but hopefully we can pay it off...
  • courtnyou

    Posts: 65

    Apr 24, 2014 2:13 PM GMT
    are you kidding? our national debt is astronomical and will never be paid off. Perhaps it's growing at a slower rate but it's still growing.
  • tj85016

    Posts: 4123

    Apr 24, 2014 2:20 PM GMT
    i can't believe these idiots are actually talking about "stabilizing Ukraine's economy" (with our tax dollars no less) - we should get out of Afganistan tomorrow and close about 300 US military bases abroad
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    Apr 24, 2014 3:16 PM GMT
    Ex_Mil8 saidSpending by the US Federal government has seen the steepest drop as share of national income since demobilisation after the Second World War.

    Claims that President Barack Obama is bankrupting America with a lurch towards hard-Left statism are for tabloid consumption only. Outlays have fallen from 24.4pc to 20.6pc of GDP in five years. Spending is roughly in line with its 40-year average. This fiscal squeeze has been achieved without driving the economy into recession or a Lost Decade, a remarkable feat.

    The US Congressional Budget Office expects the budget deficit to drop to 2.8pc of GDP this year, and 2.6pc next year. This is about the same as the eurozone but with a huge difference. The US economy is expanding fast enough to outgrow its debts.

    http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10783568/America-has-conquered-its-debt-crisis-with-incredible-speed.html

    Pretty impressive.


    More liberal ignorance. I suppose you support obama increasing foreign aid to Nigeria where gays are stoned to death.
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    Apr 24, 2014 4:23 PM GMT
    mx5guynj said
    More liberal ignorance. I suppose you support obama increasing foreign aid to Nigeria where gays are stoned to death.

    I thought the thread topic was the national debt? When confronted and confounded by facts, Right Wingers invariably turn to unrelated diversions. And often faulty ones. Par for the course. icon_razz.gif
  • Destinharbor

    Posts: 4435

    Apr 24, 2014 4:25 PM GMT
    The level of Republican ignorance is exceeded only by their propensity-- no, I take that back. Nothing exceeds their ignorance. What the hell does Nigeria have to do with this? Let's talk about Benghazi.
  • starboard5

    Posts: 969

    Apr 24, 2014 4:39 PM GMT
    I'm afraid Adammm and NEOSYLLOGY are the only contributors to this thread who make sense....
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    Apr 24, 2014 6:29 PM GMT
    mx5guynj said
    Ex_Mil8 saidSpending by the US Federal government has seen the steepest drop as share of national income since demobilisation after the Second World War.

    Claims that President Barack Obama is bankrupting America with a lurch towards hard-Left statism are for tabloid consumption only. Outlays have fallen from 24.4pc to 20.6pc of GDP in five years. Spending is roughly in line with its 40-year average. This fiscal squeeze has been achieved without driving the economy into recession or a Lost Decade, a remarkable feat.

    The US Congressional Budget Office expects the budget deficit to drop to 2.8pc of GDP this year, and 2.6pc next year. This is about the same as the eurozone but with a huge difference. The US economy is expanding fast enough to outgrow its debts.

    http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10783568/America-has-conquered-its-debt-crisis-with-incredible-speed.html

    Pretty impressive.


    More liberal ignorance. I suppose you support obama increasing foreign aid to Nigeria where gays are stoned to death.


    The Daily Telegraph, from which the quote is taken, could be accused of being many things, but 'liberal' ain't one of them.
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    Apr 24, 2014 6:46 PM GMT
    adammm said...And Nero fiddled while Rome burned.

    Doubling the national debt is not "conquering it." In eight years, every penny of federal income tax will be servicing the interest alone on our debt. None left for infrastructure, health care, anything.
    http://www.usnews.com/news/articles/2012/11/19/how-the-nations-interest-spending-stacks-up



    This is the difference between the left and the right. The left thinks it can blissfully spend money we don't have because of accounting tricks, and the right is trying to slow that down (but unfortunately not stop it).
  • HottJoe

    Posts: 21366

    Apr 24, 2014 6:53 PM GMT
    starboard5 saidI'm afraid Adammm and NEOSYLLOGY are the only contributors to this thread who make sense....

    The art of fear mongeringicon_exclaim.gif
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    Apr 24, 2014 8:55 PM GMT
    Lol yeah right, the last time I check, China still owns most of our debts. The problem is we spend $$$ on too many silly things oversea instead of focusing back home. The amount of people who are unemployed or under-employed and not getting hired by the US companies don't help either. Like Most MBA or Law school grads are still looking for work. I don't see us getting any better but in fact, I predict most Americans will move to Asia in the future in order to find work. I believe if we're going to move up and stabilize our economy, we have to be more selfish, pull out of foreign countries. Stop spending, supporting them and start supporting our own people here. I doubt that will going to happen anytime soon.
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    Apr 24, 2014 10:50 PM GMT
    Art_Deco said
    mx5guynj said
    More liberal ignorance. I suppose you support obama increasing foreign aid to Nigeria where gays are stoned to death.

    I thought the thread topic was the national debt? When confronted and confounded by facts, Right Wingers invariably turn to unrelated diversions. And often faulty ones. Par for the course. icon_razz.gif


    Prey-tell, have we not seen the leftist here at RJ do the very same thing, time and time again; hijacking threads too promote their very own brand of hate, and delusions of being better.icon_redface.gif
  • topathlete

    Posts: 882

    Apr 25, 2014 12:33 AM GMT
    starboard5 saidI'm afraid Adammm and NEOSYLLOGY are the only contributors to this thread who make sense....

    Totally agree and you too can join the smart group.

    Comment to Neosyllogy: Our politics are different in some respects. I'm a fiscal conservative and social moderate. Hate labels though. They often paint with brush strokes too thick. My liberal friends are like you. While we often see things differently they are not kool-aid drinkers who spout ideological slogans as do some mindless souls.
  • mybud

    Posts: 11837

    Apr 25, 2014 12:58 AM GMT
    Bush tripled our debt with the contrived war in Iraqi..Debt we're still paying off to this day..How soon we forget.
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    Apr 25, 2014 1:06 AM GMT
    topathlete said
    starboard5 saidI'm afraid Adammm and NEOSYLLOGY are the only contributors to this thread who make sense....

    Totally agree and you too can join the smart group.

    Comment to Neosyllogy: Our politics are different in some respects. I'm a fiscal conservative and social moderate. Hate labels though. They often paint with brush strokes too thick. My liberal friends are like you. While we often see things differently they are not kook-aid drinkers who spout ideological slogans as do some mindless souls.

    But all right-wingers are smug and superior like you.
  • Posted by a hidden member.
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    Apr 25, 2014 1:25 AM GMT
    mybud saidBush tripled our debt with the contrived war in Iraqi..Debt we're still paying off to this day..How soon we forget.


    Not really sure how that justifies tripling it again.
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    Apr 25, 2014 2:12 AM GMT
    adammm said...And Nero fiddled while Rome burned.

    Doubling the national debt is not "conquering it." In eight years, every penny of federal income tax will be servicing the interest alone on our debt. None left for infrastructure, health care, anything.
    http://www.usnews.com/news/articles/2012/11/19/how-the-nations-interest-spending-stacks-up


    Do you realize that this usnews.com article you link to is about what we're paying on our debt, IT IS NOT ABOUT ACCUMULATING DEBT.

    Do you not accept that any of that debt came from the cost of the war in Iraq?

    Iraq is of course only a part of our financial drag. The fact is that we've got a country of a lot of old, sick people who are going to need medical care for years to come. We've all got to deal with that fact whether we support the ACA, single payer or private insurance only.

    But we're not doomed. America is a country of innovators. Part of what we need to do is to ask the rightwing doomsayers to STFU for awhile. Start working on solutions.
  • Posted by a hidden member.
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    Apr 25, 2014 4:57 AM GMT
    adammm said
    mybud saidBush tripled our debt with the contrived war in Iraqi..Debt we're still paying off to this day..How soon we forget.


    Not really sure how that justifies tripling it again.


    That's their answer to everything. "Bush did it....."

    If your friends were jumping off a bridge, would you jump off too?
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    Apr 25, 2014 5:14 AM GMT
    socalx10 saidLol yeah right, the last time I check, China still owns most of our debts.
    You never checked on this, admit it. This isn't true. Sorry for facts.

    Debt-Chart-531x355.png
  • HottJoe

    Posts: 21366

    Apr 25, 2014 3:37 PM GMT
    mickeytopogigio said
    socalx10 saidLol yeah right, the last time I check, China still owns most of our debts.
    You never checked on this, admit it. This isn't true. Sorry for facts.

    Debt-Chart-531x355.png

    Much of that debt appears to be what we owe ourselves.icon_confused.gif