Wednesday, January 11, 2012

Are Liberals outraged by the 38% increase in our debt since Obama took office?

Even without the stimulus, we would have continued to mount the debt because of falling revenues. Can't turn that around in a short amount of time. The stimulus helped to buoy some of the economy and prevent further erosion. In the last recession, the lessening of the debt afterward was due 2/3 to increasing revenues through taxes and only 1/3 through other means. Yes, the debt is important but the continued well-being of those greatly impacted by the recession and the maintenance of services such as public hospitals and education (that received stimulus money) is also important.

0 comments:

Post a Comment