@Cycloptichorn,
Cycloptichorn wrote:Those budget numbers do not include all costs, Ican, and should be thrown out the window. Even you agree that they do not reflect our actual debts. So why do you bother with them?
I bother with them because I want to compare comparable budget deficit/surplus results for both Bush and Obama 8 year terms. I don't have a projection of
total debt for Obama. I have only Obama's projection of
budget deficits for his 8 year term.
All Obama had to do was cut spending, cut inadequately secured lending, and cut taxes. The economy would have recovered from Bush’s simplistic solutions normally. It continues to be probable that Obama's approach to saving the economy will do nothing other than make things worse and make recovery far more difficult.
Obama intends to do what Hoover did to rescue the economy from depression when he was President: raising taxes, increasing tariffs, and increasing spending. Hoover's scheme did not work.
Obama intends to do what Roosevelt did to rescue the economy from depression: raising taxes, leaving tariffs high, and increasing spending. Roosevelt's scheme did not work.
Obama intends to do what Carter did to rescue the economy from recession: raising taxes, raising tariffs, and increasing spending. Carter's scheme did not work. Obama is also increasing the lending of inadequately secured loans.
What Reagan did to rescue the economy from Carter's failures, did work. He cut taxes significantly, although he increased spending.
Even Clinton's scheme worked: reducing spending and tariffs, while increasing taxes a small amount.
Bush's lowering Clinton's taxes started to work despite his also raising spending. When Chris Dodd and Barney Frank refused to fix the 2 FMs, and Bush signed TARP into law, Bush's increased spending and increased lending of inadequately secured loans caused the economy to tank.