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The problem with the falling annual deficit is that it is primarily caused by the artificially lower interest rates of QE money creation. The Fed has signaled that they will try to hold down interest rates as much as possible for the time being.
If the interest rates returned to recent historic norms, the annual deficit would go back to a trillion dollars as we keeping adding more and more debt to pay interest on.
Just how long can we artificially suppress interest rates?
I know the Concordia group is non-partisan, but they need to find this guy and run him for President of the US.
This guy wants to "pay as you go" as a principle, if he were to cut taxes somewhere like the payroll tax - he would then cut spending by an equal amount, he knows debt undermines our economy.
Sure, he sounds like a "Tea Bagger" and Obama-fans would surely oppose this guy's no nonsense approach to managing the budget -- but he stands for solid principles.
Last edited by michiganmoon; 02-21-2014 at 04:52 AM..
Although, interest rates have dropped from QE money creation -- the CBO projects that interest rates will rise over the course of the next 10 years -- over which we will add 7.9 Trillion in new debt, and return to Trillion Dollar annual deficits.
The deficit is for ALL Americans and by choosing to ignore it means he isn't for Americans, strange since liberals keep touting Obama's deficit cutting, now the liberals do a 180.... Liberals really are stupid, you just can't pretend to be that stupid... Obama was the one who came up with chained CPI, not Republicans...
You're right! It's only the people below an "acceptable" income level that need to practice austerity, huh?
We never even approached "austerity" here in the US.
You consider cuts from future spending austerity ?
You consider the end of temporary spending austerity ?
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