Deficit Truths And Lies
Or, the falsehood that wouldn't die. The latest eruption of this patently phony nonsense, from Senator Rand Paul:
And we've all heard the constant insistence from the Republicans that Obama exploded the deficit, and that it continues to grow- a claim swallowed whole by much of the mainstream press.
Well, time out for a little truth. Here's a nice, readily available chart of the recent history of the Federal deficit:
I added the grey bars to allow you to see what happened to the budget deficit under Republican and Democratic Presidents, going back to Jimmy Carter, whose fiscal mismanagement (according to Republicans) left the Federal government with a deficit (get ready for the shock) of $59.6 billion.
As you can see, every Republican administration in the last 35 years has left office with a greatly higher budget deficit, and every Democratic administration has done exactly the opposite. Despite this truth, the press of course continues to collaborate with Republicans to spread the patent falsehood that it is Democrats that are the spendthrifts. And thus the American public continues to place its trust in the very people that pose the greatest threat to our public well-being. So, the struggle between flawed but essentially decent people, and those who are not, continues as it has throughout the whole history of mankind.
"You know, the thing is, people want to say it’s extreme. But what I would say is extreme is a trillion-dollar deficit every year. I mean, that's an extremely bad situation."
And we've all heard the constant insistence from the Republicans that Obama exploded the deficit, and that it continues to grow- a claim swallowed whole by much of the mainstream press.
Well, time out for a little truth. Here's a nice, readily available chart of the recent history of the Federal deficit:
As you can see, every Republican administration in the last 35 years has left office with a greatly higher budget deficit, and every Democratic administration has done exactly the opposite. Despite this truth, the press of course continues to collaborate with Republicans to spread the patent falsehood that it is Democrats that are the spendthrifts. And thus the American public continues to place its trust in the very people that pose the greatest threat to our public well-being. So, the struggle between flawed but essentially decent people, and those who are not, continues as it has throughout the whole history of mankind.
Comments
1. Higher tax revenues
2. Lower deficits
3. Increased demand
4. Increased employment
5. Improved economy
And the cycle continues.