Is the deficit a problem that should be of our concern for the midterm elections?
I just don't understand how Bush comes out and say that the democrats are going to takes us out of Iraq and increase taxes which is how you solve the deficit problem. Obviously he would do the opposite, to solve what problem? Self-esteem. I don't understand that campaign and how people fall for it. Is like he's campaigning for the democrats.
The question again, should the deficit be of our concern?
- itsnotarealnameLv 41 decade agoFavorite Answer
The deficit is actually overplayed. Keep in mind that while it's bigger than it was under Reagan or Clinton, that everything else is too. When measured against the GDP (Gross Domestic Product) the Deficit is only 1.9%, as opposed to 2.2% under Clinton, or 2.1% under Reagan. Clinton's "balanced budget" (and I commend him for getting it) was achieved not through reductions in pork-spending or entitlement programs, but through an unnaturally booming economy fed by a run-away stockmarket and parallel housing boom. So you have to look at averages and percentages.
Overall, economically the US is on very solid footing. What's not solid are health-care costs, pension/retirement and transportation infrastructure.
- namsaevLv 61 decade ago
Well the usual Democrat solution to most problems is throw more money at it. And they keep saying they want to tax the rich more (I really don't have a problem with the idea) but when they do it's the middle income people who ALWAYS end up paying more in taxes.
The government gets enough money. But they don't spend it wisely. And Democrats are notorious for wasting money. And sadly the Republicans aren't much better.
The deficit should be a concern. But total revision of the tax codes should be a greater one.
- Anonymous1 decade ago
Not only is it a problem for the mid-terms, it's going to be a problem for our grandchildren. If China were to pull its money out of this country our economy would collapse. The party of fiscal responsibility is spending us into the devil's den. I got $400 from Mr. Bush's tax cut, how much did he get? This administration, this congress is going against everything I thought the republicans stood for. Call me a liberal, but the hundreds of billions of dollars that is being spent in Iraq could be much better spent on America ask the people in New Orleans. This administration is the best example America has for a change in leadership.
- ketronLv 44 years ago
they are actually not extremists.. that's in easy terms slightly hypocritical. Why weren't they protesting Bush's spending? because of the fact he has a R in front of his call? He spend trillions on what many have self belief became an pointless conflict... yet uncontrolled protection spending is effective yet spending to aim to stimulate the financial gadget isn't? The financial gadget that went into the lavatory under Bush's administration?
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- 1 decade ago
you but it should be because in devalues the dollar on the world market therefore making our dollar worth less witch will eventually lead to inflation