4 years of Obama, US deficit cut in half

[Franzl]

Do people realize that budgets include both an input (revenues) and an output (spending)? I don't think most Republicans do.

[fezzyfestoon]

They know, it's just that their friends are the only ones who aren't putting anything in.

[Tender Branson]

If the sequester triggers a new recession, all this data will be meaningless and deficit will go up again.

I think the cuts are to small for a recession.

Maybe it cuts off 0.5% of growth in the worst case, but for the budget deficit the cuts are good.

[Antonio the Sixth]

If the sequester triggers a new recession, all this data will be meaningless and deficit will go up again.

I think the cuts are to small for a recession.

Maybe it cuts off 0.5% of growth in the worst case, but for the budget deficit the cuts are good.

I really hope you're right.

[Tender Branson]

Obama has released a budget proposal for FY 2014 now with 4.4% projected deficit.

The deficit is now estimated to go down to ca. 2-3% by the end of Obama's 2nd term and to ca. 1% by 2023 (the middle of Hillary's 2nd term ?) ... then it will increase again to 3% because of the boomers enjoying retirement and therefore more federal welfare money.

[TNF]

And to think, we could probably have eliminated most or all of the damn thing if we had just raised taxes on the wealthy, enforced our trade laws to reduce the trade deficits we have with China, Germany, and Japan (among others), and put about $1 trillion in stimulus.