Friday, January 18, 2013

Deficit is Bush Problem

New York Times columnist, Paul Krugman, points out: “It’s true that right now we have a large federal budget deficit. But that deficit is mainly the result of a depressed economy — and you’re actually supposed to run deficits in a depressed economy to help support overall demand. The deficit will come down as the economy recovers: Revenue will rise while some categories of spending, such as unemployment benefits, will fall. Indeed, that’s already happening. (And similar things are happening at the state and local levels — for example, California appears to be back in budget surplus.)”

This means that the Bush Recession, and general mishandling of the reigns of government, is the direct cause of the Obama Deficit.  Of course, this reality is beyond the intellectual capacity of republican voters.

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