Current Events — HabitableZone

Current Events » in reply to Where are you getting that half trillion?

Again you count 2009 in Obama's column, WTF!?

And again you lowball the reduced revenue.

Almost all the data I've seen over the last 4 years have indicated the great recession reduced the government's tax revenues by about $500B per year. I even explained how we got there in an earlier post.

2010-2012 would then mean $1.5T less in revenue - A little under half of the new debt in that time frame. If the economy was strong the deficits would be around $500B. If we eliminated the Bush tax cuts and end the Afghan war we come close to balancing the budget.

How do I know this? WE DID IT BEFORE IN THE 90S.

It doesn't take a genius to figure out we need to go back to the policies of the 90s which produced so much prosperity.

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