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then since the us has been increasing debt exponentially why is the economy sucking......hint read up on austrian economics because it has predicted exactly how and why we are in this shape
lying government inflation and unemployment and europe is not in a depression which is measured on gdp.....get your facts straight and how does more debt help>
that was really gerry.....
You're obviously sharp as a tack and know what your talking about. However, your grade for punctuation and capitalization and general coherence is 'F'. You refer to "federal governments." How many federal governments do you think there are in the US? Don't you mean "In many cases, states are required to balance their budgets."? Tsk. Tsk.
Is this the same whiny twit or a different whiny twit?
Give it a rest Gerry..
When a recession comes government tax revenues fall. There is less economic activity and hence less income tax, sales tax, etc. The federal governments and state governments have revenue shortfalls. States cut back. In many cases. States are required to balance their budgets. Unless the fed gov INCREASES its spending, i.e., stimulates, the recession will become more severe. Since most states, Florida included, have cut spending and laid off workers in recent times, overall government spending has been flat. Which is basically why the US still has 8% unemployment. Some suggest that the fed gov grant money to states to hire back teachers and other worker who have been laid off and spend money on capital improvements and maintenance. Debt relief for homeowners and college students would both be good. The fed gov borrows right now at 1.70% for 10 years. When will be a better time for the fed gov to borrow and spend? Certainly not when recovery and full employment are at hand. THAT is the time for government austerity.
The latest figures show that the total national debt has increased 48% during Obama's term. Is 48% "nearly doubled," which he said yesterday? He counting on you to be unable to figure it out for yourself. I bet he's right. 15.709 is 148% of 10.627. Duh.
Why are you such a whiny twit?
The United States does not have the full fledged depression Europe has. The US's unemployment is a very unpleasant 8 or more per cent, but it is not like Europe's. Obama was too timid and the Republicans were too obstructionist and the stimulus was too small. If not for the stimulus things would be much worse. More stimulus is needed. Austerity will put the US back into recession.
They tried it in Europe. Aren't you paying attention? They tried it in Ireland. They tried it in England. How do things look in Spain?
If Mitt Romney tell you that the total national debt has doubled while Obama has been in office, of course Romney is a liar.
how do we know austerity does not work....neither party has ever tried it
and more spending and debt helped how?
Some people are just brain dead. Contribute nothing of worth....