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|Subject: Re: Dilbert's 1-page personal finance guide||Date: 9/22/2013 9:35 PM|
|Author: MisterFungi||Number: 73180 of 80177|
The budget deficit and the national debt are two entirely different things.
The latter is the summation of the former. So they are hardly "entirely different things."
Also, I'm guessing from your remarks and cutesy name-calling that you are unaware of why the annual deficits (and, hence, the national debt) have grown so much during the Obama administration. If you think it is because of massive spending increases under Obama, you are mistaken. The stimulus package was a one-off thing, about one-third of it was tax cuts, and it is done.
The big (but declining) deficits are primarily because of massive declines in revenues as a result of (1) the financial crash and (2) Bush tax cuts, along with (3) two unfunded wars, a major unfunded Medicare program (Part D), and TARP -- all of which he inherited from, yes, Bush.
This is not my opinion. These are facts. If you read the CBO reports, you can verify this all for yourself. Or not.
Now can we get back to retirement investing?
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