The US Economy - A Ponzi Scheme

[whell]

Originally Posted by finnbow

I'm not willing to google them up again, but I've posted several graphs in the past from reliable sources showing that the lion's share of debt growth in recent years were directly a result of Bush's tax cuts, the costs of two protracted and mismanaged wars, and the costs associated with the avoidable (through proper policy and enforcement) recession.

You can wish this away if you want to, but I haven't bothered to do so. It would be an exercise in trying to deny the obvious.

Not wishing anything away here. However, you're assuming causation based on little else but faith or dogma. You're assuming tax cuts among other things as central to causation of our current economic issues, and our current levels of underfunding (Of course, I also remember that some of those tax cuts were passed through Congress in partnership with Democrat majorities). There's no evidence to support your assertion.

You're also choosing to ignore the impact of dramatic increases in spending under Obama. Over his tenure, we've spent, on average, 38% more per year than we've taken in. While that ratio has settled down a bit in the last year or so (bit still historically quite high), it was as high as 67% (2009) and 60% (2010). Bush Jr averaged 12%, and his worst year was 22%. Obama's best year so far is 2013 at 24%.

As you like to quote: facts are stubborn things.