Have you ever wondered, if both the Democrats and the Republicans are against deficits, inflation and high taxes why do we have deficits, inflation and high taxes?
If they claimed differently, they'd never get elected. So they lie to us so they get a shot at power for however long their term lasts, and then try to lie to us again.
That's easy, because one (or both) of them is lying!
Because they really aren't against those things. This is how you get votes. The philosophy is IWBHYWBH*.
"I won't be here; you won't be here" to suffer the fall-out of my decision.
Economic is not simple in reality. Even all human in the world have deal to against deficit, we still have deficits.
Actually this question is fairly simple to answer, but has hundreds, if not thousands of, different factors.
With that said, the deficit is different than the National DEBT owed by America. The Deficit deals with exports and imports, and how much revenue can be achieved, through taxation.
It is then accumulated together and compared to government spending. What the difference is? Is called a deficit.
If you want to talk about America's debt? That would be another animal. The DEBT owed by Government, which continues accumulating expenses, because of a weakened economy(supposedly).
The DEBT in total is close to about $11 TRILLION and growing.
That is not including, what is owed via subsidized markets in healthcare, medicare, medicaid or social security(which money was taken from to loan to other countries, with the hope of seeing a return, which hasn't happened as of yet?).
If you account for the additional program I mentioned, then America's debt is closer to $100 TRILLION and still growing, because "Business" continues operate behind greed and won't bend to the consumers request of better value.
Thanks for playing.
You had it, then lost it at the end. Business won't bend and give better value? If you don't like the offerings, why are you spending your money?
I think you meant to say that America's debt is 100 trillion and growing because government continues to operate behind closed doors and won't bend to the citizen's demand of transparency and accountability.
The business has NO incentive to increase value when the consumer keeps dancing to his tune.
To give you some perspective on America's debt:
Does that include the bailout/stimulus?
Everything is there! It's bigger than your screen so you might have to pan around. It's a real eye opener. Imagine, every citizen in this country owes the government 340,000 dollars!
I refuse to look at usdebtclock.org -- it's getting me upset.
It's astonishing! Did you see our GDP is equal to our debt! That's like your mortgage being equal to you pay check!
And now we will embark on government health care, they say one trillion dollars but we all know the math is fuzzy and it will probably be closer to ten trillion dollars, which is like you taking out a loan to buy a Mercedes when already your whole paycheck is going to your mortgage!
And hey we haven't even figured out yet how you will eat, pay for heat, put your kids through college, and save for retirement.
Not to worry because now we'll implement carbon cap and trade!
Time for you to get a second job or maybe you can get the relatives to give you a loan?
The deficit has NOTHING to do with imports/exports, Cagsil. You're talking about our *trade deficit* in that case.
The deficit is understood to mean "budget deficit," or the difference between what the government spends and what it takes in via taxes. This is on a yearly cycle.
The national debt is the *total* federal government's debts outstanding.
Unlike the Iraq War, for example, the health care reform is likely to pay itself back (i.e. have a neutral impact on the national debt) over 10 years. Much of the bailouts are also expected to be paid back.
The Iraq War was just $1 trillion (or more) dumped down the drain with absolutely nothing to do for it except an unstable Iraq. NONE of it will be returned to the federal coffers.
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