US deficit out of control....

[fredjacksonsan]

According to the standards set by the EU, Germany's deficit, at over 3% of GDP, is too high.

See article:
http://www.iht.com/articles/2006/02/...iness/gcon.php

Since we've established in other threads that the US deficit is in excess of 4%(pardon me for not having the exact figures), I'd think this indicates that the US is, in fact, treading on dangerous ground. Some will poo-poo the 1% difference, but on a slippery slope such as debt, it is a geometrical, rather than mathematical progression.

Comments?

[AlmostStock]

Of course it sucks, and will be a burden on future generations. In 2000 our leaders were arguing about how to spend the surplus. Since then they have raised the debt ceiling what, 4 times? I want to hear a reasonable explanation for this. If this happened to any company they would be history, yet many people will blindly believe that it's not a problem, as long as they're getting what they want NOW.

[carrrnuttt]

Originally Posted by AlmostStock

...they have raised the debt ceiling what, 4 times? I want to hear a reasonable explanation for this.

Bush refusing to veto any spending bills, the growing war machine, the first President to ever cut taxes during wartime (I'm not opposed to the cuts, just the over-extended "war" spending in a country that doesn't want us there. A poignant example: The millions Bush paid to the "interim government" in Iraq...you know...the ones that got voted out?).

[fredjacksonsan]

The US doesn't have an income problem, it's a spending problem.

[YogsVR4]

Here are the numbers http://www.cbo.gov/showdoc.cfm?index=6060&sequence=1

The deficit as a percentage of yearly GDP is not all that bad in and of itself and 3% or less every year is sustainable as long as the economy grows. Its the accumulation we've gotten and the fact there is no end in site to our governments ability to spend our money. Between the federal government, state and local entities, our politicians have over 3 TRILLION dollars at their disposal and its still not enough for them.

If the congress could ever hold the line on the purse strings and the president get a line item veto, spending could be reigned in and the deficit reduced.

[cody_e]

Conservative small government, small spending my ass. Bush isn't a true conservative.

[thrasher]

You're right, he's a true dumbass

[03cavPA]

Originally Posted by thrasher

You're right, he's a true dumbass

Possibly. I wouldn't single him out for that particular description, however.

We have 2 houses of legislators and an entire federal bureaucracy that like to spend money like it's water over a dam.

[RSX-S777]

I would single him out as a dumbass in regard to spending with no compunction whatsoever. What could we expect, realistically, from a man who never had to learn the value of a dollar? Throw in the majority of your legislators too, if you like...