http://news.yahoo.com/whatever-happened-big-bad-federal-deficit-201903031.html
Whatever happened to the big, bad federal deficit? You know, the red ink menace that was supposed to devour America’s fiscal future?
We ask because the way Congress is acting the deficit must have gone into hiding. Look at how eager lawmakers were to whoop through the “doc fix,” the big bill averting (permanently) planned reductions in Medicare reimbursements for physicians. It passed the Senate today by a 92-to-8 vote, having squeaked through the House last month, 392-to-37.
Yes, the move is popular, obviously. It resolves an issue that’s been a problem for years. Yet the doc fix is expensive, and only about one-third of its cost is offset by budget cuts. It’ll add some $141 billion to the deficit over the next 10 years. And that’s not the only up-spending in the works. Add in likely increases in military and domestic spending, and the deficit could go up $100 billion in the next year alone, calculates longtime federal budget expert Stan Collender.
That would be about a 21 percent increase.
Why the change in fiscal weather? Reason one is medium-term deficit reduction success. The Great Recession beginning in 2008 caused a huge increase in US red ink as the government struggled with lower tax receipts, higher social program expenses, and big bills for recovery measures. That flood has abated as the economy plods toward recovery. Sequestration budget cuts have also helped. The annual US budget shortfall is now near its lowest level in six years.
more fear mongering exposed as republican propagandized rhetoric, each time they say one of Pres. proposals will decimate the economy and tear the country down or apart eventually it comes to light that if was a lie and the real perpetrators of the doom and gloom are them the republicans. IMO they know what they are saying will happen because of what they are or want to do so jumping the gun they want to get a step ahead and blame it on Pres. so when it happens the finger point game starts. these are not the ones to trust their whole agenda is based on successfully gaming the system deceit and convincing us that it was not them.
G W Bush, "you can fool some of the people all the time and those are the one's you want to concentrate on".
