http://www.joeyconway.com/blog/2009/11/19/government-fiscal-year-2009-deficit-1-4-billion/ THRILLS AND ADVENTURES! Wed, 21 Dec 2011 21:54:47 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.joeyconway.com/blog/2009/11/19/government-fiscal-year-2009-deficit-1-4-billion/comment-page-1/#comment-41 vin Tue, 24 Aug 2010 16:58:47 +0000 http://www.joeyconway.com/blog/?p=189#comment-41 this is overly simplistic. the majority of the Bush-era deficit increases came from, obviously, the ramped-up wars and tax cuts for the wealthy (don't get me wrong, i sort of support the wars, -ish), whereas the majority of the Obama-era deficit increases came from a dramatic drop in tax-bases because of the Great Recession which had already started. (housing bubble from deregulation->financial Armageddon (goldman, bear stearns)). Furthermore, structural deficit is different than short-term Stimulus deficit. If anything, Obama has been criticized for not taking on ENOUGH deficit to combat the unemployment, and so on. Stimulus deficit can be leveraged to end up being a good investment in ways that the structural deficit of the bush and reagen years cannot. this is overly simplistic. the majority of the Bush-era deficit increases came from, obviously, the ramped-up wars and tax cuts for the wealthy (don’t get me wrong, i sort of support the wars, -ish), whereas the majority of the Obama-era deficit increases came from a dramatic drop in tax-bases because of the Great Recession which had already started. (housing bubble from deregulation->financial Armageddon (goldman, bear stearns)). Furthermore, structural deficit is different than short-term Stimulus deficit. If anything, Obama has been criticized for not taking on ENOUGH deficit to combat the unemployment, and so on. Stimulus deficit can be leveraged to end up being a good investment in ways that the structural deficit of the bush and reagen years cannot.

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