Obama and the Deficit
Here is such a clear statement about the current federal budget deficit that I can't resist quoting it at some length. It is from a blog called Seeing the Forest: "Suppose you take over a company that is losing $100 million a year, and your jobs is to turn it around. So perhaps the second year the company only loses $70 million, $30 million the third year, and breaks even in year four. You saved the company. But in those years the company "lost" another $100 million. Should you be fired? President Obama took office as President of a country with a $1.4 trillion deficit - thanks to the failure of conservative policies. Their tax cuts, wars, military buildups, corruption and incompetence drove the borrowing WAY up, and then their deregulation, corruption and incompetence destroyed the economy, driving the borrowing up into the stratosphere. If the borrowing just stayed the same at the $1.4 trillion level Obama inherited each year -- never mind that interest on al...