Tuesday, September 8, 2009

America and Its Deficits: Are We Broke Yet?


America and Its Deficits: Are We Broke Yet?
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3 comments:

  1. AnonymousSeptember 10, 2009 at 9:14 AM

    Chenney must be really mistaken to say that "deficits don't matter", but this was the policy enacted by the Bush Administration.

    After reading the article. I feel as strongly as ever that republican execuitive leadership continues to create high deficits and cut social programs and continue to cut taxes for wealthy americans. The liberal ideology shown has shown to be very effective under the clinton administration. The United States had massive amounts of economic growth and did not add to the deficit. The Bush administration has invested heavy into bad investments. These investments include Iraq and Afganastan Wars.

    If they would have routed that funding to those wars under the bush administration to pay for healthcare. The US could have been able to make healthcare affordable for americans. Instead the the bush administration invested heavily in a bad investment and the obama administration as well as the american people will have to pay the negative return on this investment.

    Jordan G. (you know me) Period 5

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  2. AnonymousSeptember 10, 2009 at 7:41 PM

    With America getting in close to an excesses of 50% of deficit past the GDP, we are going to eventually get to the point where we are, as a country, going to be broke. With so much trust from both foreign and domestic buyers alike, they delved into treasury bonds expecting to be paid back. With the vast amount of buying from these investors, as trends show and have shown, the interest rates went down. This resulted in even more buying and although America is making all of this money, more money is being spent on other sectors like war, as Jordan said, which has taken its toll on our GDP. The fact that Republican congressman have "just" decided to start caring about the deficit exemplifies their lack of knowledge in how equilibrium of our GDP and spending really works.

    Period 5

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  3. tthornsSeptember 13, 2009 at 7:14 PM

    The deficit has been something that has always scared me since i started to become educated on the economy. I fear that it is growing far too large and will soon be at the point where it is irreversible. If we keep going at the rate we are, nearly all investors will begin to lose faith in our economy and will send our country and economy down the drain. This will also hurt the value and whatever respect is left that our currency currently has. The Obama administration has a big deficit it needs to fight and manage better than the Bush administration for the preservation of our country.
    Taylor Thornsbury Period 3

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