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Obama's deficit plans run into economic reality

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"If we don't have a serious plan to tackle the debt and deficit"

I don't think the Democrats are capable of formulating a serious plan to tackle the debt and the deficit. Look how much it's increased under their mis-leadership.

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The economy has rebounded since the early days of Obama’s presidency.

What planet is this reporter on, it isn't earth.

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Sad to say that Obama is another of my fellow Democrats who just doesn't understand the fundamentals of economics; though lately I have come to wonder if he isn't fundamentally opposed to capitalism, but trying his damndest to make crony capitalism respectable.

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If only the States hadn't had eight years of idiotic Republican leadership. Under Reagan and Bush I deficits, under Clinton surplus, under Bush II historic high deficits. George W and his henchmen dug the States into an enormous hole and it will take many years to recover.

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"If only the States hadn't had eight years of idiotic Republican leadership. Under Reagan and Bush I deficits, under Clinton surplus, under Bush II historic high deficits. George W and his henchmen dug the States into an enormous hole and it will take many years to recover."

warnerbro, it might look that simple to non-Americans but the deficits you seem to refer to are a result of the amount the federal government overspends on annual budgets. Presidents submit budgets but basically it is Congres that authorizes the spending. Reagan faced a Dem-majority Congress and of course Bush's last 2 years - the worst for deficits - were with his party the minority in Congress.Clinton - whom I liked - had to deal with a Repub Congress from Jan of 95.

This article is basically talking about the problem presented by the national debt, incurred over decades because of out of control spending but also because of massive entitlemnts locked in for generations - things like welfare, medicaid and medicare.(Probably the same programs causing problems in your country.) As the article states the housing market is the number one worry. Prices just keep falling.

For non-Americans it might be easier to understand the picture by looking at the fiscal health of individual states - since military spending ( a large chunk of the fed budget ) is not an issue.

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History shows the fastest way to cure complaints about the deficit is by electing Republicans. Not that they do anything to reduce it - the opposite is generally the case - but they stop complaining about it until they're in the opposition again.

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Pretty simple....if and when the discussion turns to QE3 in the 2nd half of this year, pick up and read former Prof. Chalmers Johnson's Trilogy. Lotsa smoke and mirrors thusfar.

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History shows the fastest way to cure complaints about the deficit is by electing Republicans

AGREED....Let us hope next election cycle they vote even more of em.

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President Obama (along with Democrat allies in Congress) are on track to create move debt than all previous presidents combined. Obama is already the worst president in American history. He cannot lead on economic or foreign policy issues. It should be clear by now to all that he is a Socialist that rewards his favored constituents over the general public. GE made billions last year and paid no taxes! The CEO of GE is one of Obama's closest advisers. Obama has doubled down on the failed socialist policies that led to a large debt even before he entered office. America is reaching a financial tipping point and Obama seems content to just keep going over the edge of the cliff.

Obama's mislabeled deficit reduction plan does nothing of the sort. It only reduces the projected future debt - well, on paper anyway. Even Europe has been pursuing austerity but America's Socialist in chief just keeps spending and spending. America does not have a competitive business environment and Obama is determined to make it worse. It's almost as if he is purposefully trying to damage the nation. Obama's future for America is very bleak.

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I don't think the Democrats are capable of formulating a serious plan to tackle the debt and the deficit. Look how much it's increased under their mis-leadership.

Sad but true. Dems have a long history of overspending. Though Republicans under the big government direction of Bush did as well. Still it wasn't until Dems got back into power that the spending exploded under Pelosi.

History shows the fastest way to cure complaints about the deficit is by electing Republicans.

This is true, only if they are not more of the Bush Republicans. The Big government types who are in fact Dem lite. Sure, they're better then the Dems, but thats about all you can say about em.

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Obama’s plan would cut spending by $4 trillion over 12 years

Not according to the CBO. lol...

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There will be a lot of dancing for the next 18 months, but the music stopped around 2004.

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