Stimulating The Deficit

The US is spending to build the welfare state into permanency.

The Congressional Budget Office predicts that the deficit will rise to $1.2 trillion this year. That is before the BO stimulus package, which could another $1 trillion to the gap over the next two years.

A $1.2 trillion deficit would amount to about 8% of gross domestic product. That would exceed the post-World War II record of 6%, set in 1983 under President Reagan. If the stimulus package increases the deficit to $1.7 trillion this year, it would total 10% of GDP.

Reagan's deficit spending was directed at promoting productivity and the inventive, long-term stimulative private sector. Obviously it worked. The US experienced the largest growth with the longest bull market in productivity and financial markets in history.

BO's deficit spending provides handouts, promotes the welfare psychology, and enlarges government activities and its employee base. BO will decimate US creativity, capitalism, and spirit.

This site is on the highway of

InternetRoad^TM

Always useful, mapped and paved with information.^{^SM}

Use of this site is subject to all international and USA copyright laws.
Any third party web sites you may link to from here are entirely out of the control of GlobalNewsLive.com and Technology America Corporation. We do not endorse, and are not associated with, products, services, information, statements, material or people on, or connected with, third party sites.

GlobalNewsLive.com^TM --- Ensuring the Liquefication of Information^SM