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View Diary: Dick Durbin Insults Everyone Else's Intelligence About Social Security (85 comments)

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  •  It's not that I don't agree with you about (1+ / 0-)
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    psyched

    larger deficits esp. in time of contraction. I begin with Keynes (I know you guys don't altogether like Keynes, but he obviously gets some things right).

    But it's also obvious that just having a big deficit isn't enough, or George W. Bush would be the king of prosperity.

    I tried to go online to find a similar bear head...but when I searched “Big Bear Head” it gave me a San Diego craigslist ad entitled “Big Bear needs some quick head now” and then I just decided to never go on the internet again.--Jenny Lawson

    by SouthernLiberalinMD on Tue Oct 22, 2013 at 09:53:13 AM PDT

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    •  In all fairness to W, his average annual deficits (1+ / 0-)
      Recommended by:
      psyched

      were historically small, especially if you discount the last one caused by the onset of the Great Recession.

      Average deficits as a % of GDP between 2002 (FY 2001 is Clinton's budget) and 2008:
      2.47% of GDP

      When you include his last budget (FY 2009), the number goes up to:
      3.43% of GDP.

      Reagan average annual deficits as a % of GDP:
      4.25% of GDP

      Bush I:
      4.25% of GDP

      Clinton:
      .11 % of GDP

      Obama:
      7.68% of GDP

      http://www.taxpolicycenter.org/...

      Like I said, Bush II had historically small deficits.  He was a terrible president, a liar and idiot.  But we should at least have the facts right.

      MMT = Reality

      "The Earth is my country and Science my religion" Christiaan Huygens. Please join our Kos group "Money and Public Purpose". The gold standard ended on August 15, 1971, its time we start acting like it.

      by Auburn Parks on Tue Oct 22, 2013 at 10:31:23 AM PDT

      [ Parent ]

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