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Subject:  Re: Surowiecki on Soc Sec, Medicare Date:  2/4/2013  1:39 PM
Author:  ravvt Number:  47682 of 117500

Federal spending during the Obama administration has been very constrained in historical terms, especially compared to presidents named Bush or Reagan

... some people will fall for anything as long as it agrees /w their preconceived notions.

Since you believe that Obama's budgets are "very constrained", maybe you can explain why there has been more than a doubling of the deficits under the Obama regime (8yr projection from the Obama budget) than under Bush or Reagan? ...

... and why do you think the bond market will continue to buy US Treasuries in light of the reckless spending projected in Obama's budget?

... or do you want Helicopter Ben to continue monetizing the debt & debasing the currency via his QE4EVER program?

From Obama's budget document:

Deficit Def % of GDP Taxes Taxes % of GDP
Reagan (8yr average) $165B 3.9% $0.75T 17.8%

Bush I (4yr Average) $259B 4.2% $1.08T 17.4%

Bush II (8yr Average) $379B 3.0% $2.14T 17.2%

Obama (Proj 8yr Average) $1.04T 6.6% $3.01T 19.2%

Note: GDP growth numbers for 2013 -2017 period reduced from the Obama projected growth rate of 4 - 6% to 2.5 - 4%. If you think the BO's policies will achieve a 6% growth rate I'd be willing to place a very large wager against that suggestion...
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