US Federal Debt Tops $13,000,000,000,000.00

[Crazed Rabbit]

Me I blame Reagan, Thatcher, Friedman and Hayek for all of this.

Wow.

I'll assume your joking, since it is Keynes and his ilk who recommend heavy spending and his ignorant followers who spend even more.

As for not feeling any of the spending - that's not surprising. Government spending is fundamentally less efficient and widespread than private spending; it is directed by a handful of politicians to their friends, allies and pet projects, not at what the public actually wants.

CR

[jabarto]

Government spending is fundamentally less efficient and widespread than private spending; it is directed by a handful of politicians to their friends, allies and pet projects, not at what the public actually wants.

If cognitive dissonance could be harnessed as a fuel source you could probably end the energy crisis with this sentence alone.

[Ironside]

The most obvious question is how much of that is because of increased goverment spending. As pointed out, there's a certain economic crisis that have eaten a considerble part of the budget in every country.

Had Obama balanced the budget to Bush levels already, you wouldn't need to declare him god-emperor because he would already be one (that would require either incredible political skill and/or dictorship, since both a large tax hike or massive cuts is politically impossible).

Now if he doesn't have this under control and massivly decreasing by 2012 he deserves scorn on failing on economic responsibillities.

[woad&fangs]

Wow.

I'll assume your joking, since it is Keynes and his ilk who recommend heavy spending and his ignorant followers who spend even more.

CR

Keynes recommended deficit spending during recessions and a return to fiscal responsibility during the ensuing boom. Reagan(a new deal democrat) followed the first half of the theory by cutting taxes and pouring money into beating the Commies but let Bush senior take the flak for having to inevitably raise taxes and cut spending.