White House to Request Another $1.2 Trillion Hike in the Debt Ceiling this Friday

[mrplunkey]

GW didn't have 15trillion in debt to deal with, only seems logical to question adding to this large figure.
and hasn't keynesian logic about debt in a recession largely been repudiated?
and i think a lot of folks are gonna fret, because revenue is down and doesn't appear to have any rebound anytime soon...now this natty gas boom, if not cockblocked by green weenies, could add some bounce to the economy i.m.o

Reagan averaged deficits @ 4.2% of GDP and took us to 5.5% unemployment.

Barry is running deficits @ ~ 11% of GDP and runs ~8.5% unemployment.

Huge difference.

 

[Headholio]

Reagan averaged deficits @ 4.2% of GDP and took us to 5.5% unemployment.

Barry is running deficits @ ~ 11% of GDP and runs ~8.5% unemployment.

Huge difference.

But you have to look at the reasons for the deficit
Two wars by Bush unfunded
Tax cuts by Bush unfunded
Economic collapse by Bush
TARP by Bush
Stimulus by Obama necessary because of Bush policies.
etc.

Much of Obama's debt was already on the books (or predicted) before his first day in office.

If a repub was in office right now, what would he do? Cut taxes. The only trick in the rightie bag. What would that do? Raise the debt.

In a recession the debt is going to go up. It's just a matter of how you do it. The republican trick of lowering taxes further still just doesn't make sense. We are too far to the right of the Laffer curve, revenues too low and taxes already low. Bush tax cuts did not help. More tax cuts won't help.

 

[PICK3]

Stimulus by Obama necessary because of Bush policies.

shovel ready FTW!

 

[mrplunkey]

But you have to look at the reasons for the deficit
Two wars by Bush unfunded
Tax cuts by Bush unfunded
Economic collapse by Bush
TARP by Bush
Stimulus by Obama necessary because of Bush policies.
etc.

Much of Obama's debt was already on the books (or predicted) before his first day in office.

If a repub was in office right now, what would he do? Cut taxes. The only trick in the rightie bag. What would that do? Raise the debt.

In a recession the debt is going to go up. It's just a matter of how you do it. The republican trick of lowering taxes further still just doesn't make sense. We are too far to the right of the Laffer curve, revenues too low and taxes already low. Bush tax cuts did not help. More tax cuts won't help.

So using your logic, Reagan didn't have a choice to deficit spend either after Carter's debacle.

But Reagan left us with low unemployment and huge economic growth.

Obama is leaving us in ruins. The service sector will bounce back someday, because those happy meals aren't going to assemble themselves. But a vast number of the good jobs, millions of them (particularly in manufacturing), are gone for good.

 

[PICK3]

But a vast number of the good jobs, millions of them (particularly in manufacturing), are gone for good.

Romney has a plan!

 

[EnderJE]

Romney has a plan!

Pauly has a plan! Cut it all.