Current Events — HabitableZone

Current Events » in reply to Reading something outside

Yawn

No one knows what the economy will look like in a year much less 10 years. The doomsday budget deficit predictors in '80s thought the end was near. In a decade the budget was balanced. It didn't take the republicans long to change that though.

a budget of $3.8 trillion to survive, double the 1988 budget in constant dollars


It costs $1.85 today to buy what $1 bought in 1988. Not quite the increase you are trying to make people believe.

USA population in 1988: 245m. USA population in 2010: 312m. Almost 70m more people. Why don't you just insist the government go back to the size it was in 1790 (first census)? A government for 4m people could surely govern 312m people riiiight???

USA GDP 1988: $5.1T. USA GDP 2010: $14.5T

A little graphical representation of how bad of shape Bush left the economy in:

http://www.usgovernmentspending.com/usgs_line.php?title=US%20Gross%20Domestic%20Product%20GDP%20History&year=1950_2010&sname=US&units=b&bar=0&stack=1&size=m&col=c&spending0=293.7_339.3_358.3_379.3_380.4_414.7_437.4_461.1_467.2_506.6_526.4_544.8_585.7_617.8_663.6_719.1_787.7_832.4_909.8_984.4_1038.3_1126.8_1237.9_1382.3_1499.5_1637.7_1824.6_2030.1_2293.8_2562.2_2788.1_3126.8_3253.2_3534.6_3930.9_4217.5_4460.1_4736.4_5100.4_5482.1_5800.5_5992.1_6342.3_6667.4_7085.2_7414.7_7838.5_8332.4_8793.5_9353.5_9951.5_10286.2_10642.3_11142.1_11867.8_12638.4_13398.9_14077.6_14441.4_14258.2_14508.2


60 years of growth and only one truly major downturn in GDP.

Look here to see how badly the crash effected tax revenues over that in 2008-2010. A huge part of the "Obama deficits" were reduced income from the GOP economic disaster. While your at it look at what the bush tax cuts did to revenue 2001 - 2004. It took 5 years for revenue to return to the Clinton years levels.

Now cut the bullshit.

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