It has just been reported that the national deficit is now lower than at any time since 2008. It was also reported that if the GDP and the CGI (Combined Growth Index— something the Federal Reserve uses) continue to grow, even at the paltry rate of sub 3%, America will work itself out of indebtedness in 19 years. That's at sub 3%! Should those same indices move above 5% the rate of payoff goes to 11-12 years.
What does this mean?
President Obama, while lowering taxes on the middle class and investing in infrastructure has also set the ship right after the debacle called the George W Bush spend and slash years. Obama is actually the most fiscally conservative president we have had since Bill Clinton. By far and away more financially conservative than Ronald Ray Guns, who dubled the US indebtendness in less than four years.
Let's look at some more numbers. The reduction in armed forces spending will equate to twice that amount needed to pay for the overhaul of the expanded Medicaid program in all 50 states. (Remember that there are many renegade states including most of the old Confederacy who have opted not to cover their poorest of the poor with this program and most of them have hidden behind the argument that it is too costly.) Well, now it is paid for and a reserve in the bank on top of that. No more argument other than to thwart the President and to hurt poor people. A very Christian thing to do…
When your local politicians running for Governor and Lt. Governor start spouting about the liberal, one-size fits all socialist programs like Obamacare, remember they are paid for and are based entirtely on private market sector of funding, except for the poorest people, whose coverage is now in the bank.
If we can stay out of invading countries aboard and the indices we spoke of above continue to grow at a 4-5% rate, and the savings from the sequestering is allowed to take place (something that Democrats railed against, but not this guy) then the 11 years quoted earlier would go to something like 9.5 years.
Think of that. The good old USA could pay off its bonds in less than a decade. Countries like China, Russia and Germany would be vindicated in investing in America. Once again our financial footing is looking solid.
Just thought you would want to know this as we go into a cycle of election rhetoric that is sure to heat of the liars on the rightwing. I am sure they will be calling Democrats "Tax and Spend Liberals"…they should be calling us tax cutters, budget cutters and nation builders. Liberal is okay to call us. We believe in open discussion of new and exciting ideas. Like national healthcare and a reduction of the huge wastes in our Pentagon budget.
If you do not like President Obama that is your free choice. And I stand by you and your right to a nearsighted view. You have that right to be wrong. But don’t call the man a communist or a socialist or un-American. He has done more to turn this country around than any president in three decades.
Now if he would only close Guantanamo.