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View Diary: China Cuts US Credit Rating. Obama Cuts Hawaii Vacation Short. (171 comments)

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  •  Of course it does (0+ / 0-)

    US deficit spending is 10% of GDP (and around a third of our total government spending!)

    If deficits were forced to cease, it would be like cutting 10% out of the economy immediately (keep in mind that a 3% annual contraction is considered a serious recession).

    Continued deficit spending prevents this outcome... temporarily.

    (-5.50,-6.67): Left Libertarian
    Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

    by Sparhawk on Wed Dec 26, 2012 at 08:20:01 AM PST

    [ Parent ]

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