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Author: Goofyhoofy Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 79052  
Subject: Re: Surowiecki on Soc Sec, Medicare Date: 2/4/2013 9:25 PM
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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? ...

Because revenues collapsed, not because spending increased.

This is not difficult to understand, unless you are determined not to understand.

Revenues are coming back, along with the economy. In other places, where they demanded austerity and pursued policies to deal with the deficit first, the economies continue to sputter and collapse. Spain. England. Italy. Greece. Iceland. All below where they were in 2007. The US: above where we were in 2007.

Getting it yet?

... 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?

Because bond holders are more concerned with a return OF principal than a return ON principal.

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

Ah yes, that "debasing of currency" that's being flogged so relentlessly on all the Right Wing Nutter sites. That's probably why interest rates continue to be at historic lows (as opposed to what bond holders would demand if the risk were high).

Oh, and as for your chart. Nice that you include the effects of the Bush years collapse NOT in Bush's numbers, but in Obama's numbers. I wonder if you would do the same if the guy who followed Bush had been that Republican McCain guy? (Answer: of course not. You'd still be blaming Barney Frank for all of it.)
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