Has anybody seen this?

[renie408]

This is another one that I am trying to figure out how to respond to.

>>Remember a week or two ago, when President Obama was claiming to be a fiscal skinflint because some online columnist said so? That was fun. On Tuesday the Congressional Budget Office released a view more tethered to reality, and let's just say this will not be showing up in one of the President's campaign ads.

The CBO's long-term budget outlook notes that federal debt held by the public—the kind we have to pay back—will surge to 70% of the economy by the end of this year. That's the highest share of GDP in U.S. history except World War II, as the nearby chart indicates, higher than during the Civil War or World War I. It's also way up from 40% in 2008 and from the 40-year average of 38%.

And it's rising fast. CBO says that on present trend the national debt will hit 90% of GDP by 2022. It then balloons to 109% by 2026—that would be the all-time WWII peak—and approaches almost 200% of GDP by 2037.<<




http://online.wsj.com/article/SB10001424052702303830204577448483262804106.html

[shraby]

1. That's because of the huge tax cuts Bush passed and has been carried on because the only

way Obama could keep the ones for the people under 250,000, and get unemployment renewed was to let them keep the whole tax cut intact.
Not enough of the people who make REAL money are paying their share into the treasury...that needs to change in order to replenish the shortfall that Bush gave us and the republicans hang on to like their lives depended on it.

[spanone]

2. rupert murdoch dung

[freethought]

3. All the more reason to get rid of Bush II era tax cuts.

Before Rupert Murdoch got his hands on the WSJ, it was a respectable newspaper. Now it's just a rag.
Get rid of those Bush Era tax cuts and that deficit becomes much smaller and easier to deal with. If repub gospel stands up that tax cuts generate jobs then this "recovery", as it is called, would not be so anemic. We would be in a boom. Clearly we are not and clearly there is something wrong with that right-wing gospel.

[JaneyVee]

4. This shouldn't be shocking, we ARE under similar conditions as World War 2.

Fighting numerous global wars, recovering from stock market crash, income inequality, etc. Just like FDR guided us through that dark time, I would want no one else besides Pres.Obama to guide us through this one.