And to not dump too many new troops in Afghanistan, either?
Those $1 trillion deficits he expects for several years to come. Of course, since Shrub has put the Iraq spending off budget, technically, Obama cuts in Iraq spending wouldn’t make a difference to the budget. But, such cuts would make a difference to investors from Wall Street, Shanghai and elsewhere.
Even outside of that, the key tell is the deficit as percentage of gross domestic product. Here, Obama’s potential 7 percent deficit would break Ronald Reagan’s 1983 6 percent previous non-war record.
Oh, speaking of that, I am getting tired of talking heads saying we’re in the worst economic crisis since the Depression. Being old enough here to remember the 1980-82 double-dip recession, I can say that current economic stats aren’t yet close to matching even that situation.
While whistling past the economic graveyard sometimes is just that, at other times, it’s good self-talk. At this time, especially since there’s no evidence to back up media doom and gloom talk, we could use more whistling past the graveyard.
technorati tags:
political news | news | world news
More at: News 2 Cromley
No comments:
Post a Comment