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Deficits: Spending, Not Revenue, Is to Blame

Jun 10, 2011 • 2 comments • 847 views

Deepening federal budget deficits indicate that one component of the federal budget baseline—either spending or revenue—is out of alignment. Closer inspection reveals that spending is the root cause, but both spending and revenue deserve equal treatment in policy discussions about reducing debt and deficits....


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Westside Think Tank

It's a shame that your articles graphic didn't show up in your submission as I would like to point out a few things that seem to be overlooked in the article. The graph clearly shows the rise in deficits during the Reagan administration, which I guess no one will dispute and the minor spike of the Bush Sr. administration. There is also, what I see as a drastic drop in deficits during the Clinton administration along with an increase in revenue. Then what I believe is the most damning part of the graph would be the Bush Jr. years. As shown by the graph there is a hyperbolic increase of the deficit, while an erosion of the revenue during this administration. These, in my opinion would reflect the two "unfunded" wars in Iraq and Afghanistan, the build up of the Department of Homeland Security with the final spike representing the Financial bailouts of 2008-9. While spending might be to blame, revenue is what spurs growth. What type of company would only look at cutting spending without looking at maximizing revenue? In my opinion, to look at spending only is to admit that reinvesting into ones company doesn't stimulate growth. When I look at growth companies on Wall Street I have seen companies that will forego paying dividends in order to re-invest that money into the business to spur growth. Where do the rules of business change for Government? Do they not apply equally to both?
06.11.11 •
Here are some stats to back up my position: http://convozine.com/zine/718-westside-think-tank/c/13864
06.13.11 •
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