Tag Archives: US deficit

It doesn’t count cuz it doesn’t cut taxes.

From Think Progress today:

U.S. Receives Record Demand For Its Bonds Under Obama, Helping The Deficit |    Bloomberg News reports that the U.S. government received record demand for its bonds in 2011, “pushing longer-maturity treasuries to their best performance since 1995 in a sign that President Obama may have little difficulty” financing the budget deficit. The European debt crisis is driving investors to buy U.S. assets, allowing the government to get an “all-time high bid-to-cover ratio of 9.07 for $30 billion of four-week bills it auctioned on Dec. 20 even though they pay zero interest.” Despite the GOP’s factually-challenged fear-mongering about the deficit, the high demand for U.S. bonds are “helping to contain borrowing costs and making it cheaper as a percentage of gross domestic product to finance deficits than when the nation last had budget surpluses.”

Dear Senator, would you please move your eyes away from the TV camera and look at this? There. That wasn’t hard now, was it?

John Mauldin is a guest right now on The Dylan Ratigan show. He’s new to me; has a new book called Endgame about the present and future economy of the U.S. (The subtitle is: The End of the Debt SuperCycle and How It Changes Everything.)

Ratigan asked how do you solve the housing problem with so many properties draining the banks and the tax revenues in communities.

Mauldin said “oh that’s easy – I’d just offer a quarter million people a Green Card if they came here and bought a house.”

I love that idea. Clean. Simple. And it could happen i n a heartbeat.

Thinkers. They are there. They are a-thinkin’. And they are not in the government.

My sentiments exactly

 RJ Matson, Roll Call  via http://www.cagle.com/

I suppose facts are stupid things, but . . .

A post at The Center Square with a nice summary of something I (and he) have posted about often – perception v reality and the fact that Dems are demonstrably more fiscally responsible than Republicans. Chart after chart, graph after graph (I can  dig up links for those who won’t believe it, but I’ve done that before, so it’s really not worth it) show this to be the truth.

Here are some simple facts – once again.

  • Ronald Reagan: Federal spending in 1981 (the oldest year I have comparable data for) = $697.8 billion. Federal spending in 1988 = $1,066.9 billion. Average annual increase: 6.3%.
  • George HW Bush: Federal spending in 1988 = $1,066.9 billion. Federal spending in 1992 = $1,427.8 billion. Average annual increase: 7.6%.
  • Bill Clinton (pre-Gingrich with Democrats in control of the House): Federal spending in 1992 = $1,427.8 billion. Federal spending in 1994 = $1,463.0 billion. Average annual increase: 1.2%.
  • Bill Clinton (with Gingrich & Republicans in control of the House): Federal spending in 1994 = $1,463.0 billion. Federal spending in 2000 = $1,788.6 billion. Average annual increase: 3.4%.
  • George W Bush (with Republican control of Congress): Federal spending in 2000 = $1,788.6 billion. Federal spending in 2006 = $2,659.2 billion. Average annual increase: 6.8%.
  • George W Bush (with Democratic control of Congress): Federal spending in 2006 = $2,659.2 billion. Federal spending in 2008 = $3,145.3 billion. Average annual increase: 8.8%.
  • Barack Obama First Year: Federal spending in 2008 = $3,145.3 billion. Federal spending in 2009 = $3,516.1 billion. Average annual increase: 11.8%.
  • Barack Obama Second Year (annualized): Federal spending in 2009 = $3,516.1 billion. Federal spending in 2010 = $3,445.6 billion (annualized using data through September). Average annual decrease: 2.0%.