Pence Defends Growing Budget Deficits

[applegrove]

Pence Defends Growing Budget Deficits

February 7, 2020 at 3:34 pm EST By Taegan Goddard 62 Comments

https://politicalwire.com/2020/02/07/pence-defends-growing-budget-deficits/

"SNIP.....

Vice President Mike Pence defended deficit expansion under the Trump administration during a CNBC interview, saying that debt and deficits are secondary concerns compared to economic growth.

......SNIP"

Tell that to Obama who was not allowed to do an infrastructure program when the country was in a long recession.

[genxlib]

1. That's fucking idiotic

Any high school economics student would say borrow in lean times and pay back in good times.

The truth is that the economy wouldn't look nearly as good without spending an extra trillion dollars.

[SWBTATTReg]

2. A looming national security issue (looming deficits) and he defends it? He's defending that...

the 1%ers are getting the lion's share of the 2017 tax cuts and the rest of us don't? I wonder who's going to have to pay for these out of control deficits later? Probably the democrats who take over after Nov. 2020. We'll get stuck again w/ cleaning up the mess left behind by these scumbags.

[NewJeffCT]

3. debt and deficits are only a concern

when the president has a (D) after their name

[dhill926]

4. yep...

[saidsimplesimon]

5. This is just laughable,

if I hadn't had a conversation with a rump voter this morning. So, the I ask why he intended to vote for IT in November. (paraphrased) "He saved US from the poor Obama economy" me "Did you (retired) see any increase in your income over the last 4 years, no, trump inherited the fantastic Obama economy. I asked if he had forgotten the list of verified Obama accomplishments (from DU)?

You know the ending, he got angry, yelling like his dear leader, "you have an answer for everything and you're acting like those educated elites, Democrats." Gotta know when to walk away, when to run....

[spanone]

6. We'll see if mikey holds up the same bullshit when it's a democrat increasing the deficit

these fuckers made Obama pay as he went....fuck them

[Newest Reality]

7. More like...

...saying that debt and deficits are secondary concerns compared to the need to use it as a sledgehammer or shield for our ongoing Republican decimation of programs and services that aid or protect the people, (except for fetuses, whom we go all out for with our rites to lie(f)).

So, the big deal about them is only contextual in that sense. Throw it in with the wedges that are made to take precedence over dire and critical needs that demand attention.

[LenaBaby61]

8. Dems HAVE TO .....

HARP on and tie this to the party of putin until they fall the fuck OUT!

[gratuitous]

9. I'll bet the CNBC host jumped down his throat for that raging hypocrisy, right?

Right? No? Well, knock me over with a sledgehammer!

[VMA131Marine]

10. To be completely correct ...

The debt is only a long term problem if it's rate of growth is faster that the rate of GDP growth (using that as a measure of our ability to pay it back).

That said, the debt is growing at around 5% per year while the economy is maybe growing at half that rate. 5% sustained GDP growth is not realistic in a developed economy like the US so the current path is not sustainable.

[Cicada]

11. Gdp grew 400 billion, deficit 984 billion

The logic behind Pence is that the tax delay, it was only a delay not a cut, would cause increased spending in productivity enhancing investment in plant and equipment. The actual increase was very small, far less than needed to ultimately reduce the deficit. Instead the tax delay was used for a tock buybacks, which do almost nothing to increase gdp. The Trump plan has flopped.

[keithbvadu2]

12. Trump is growing the economy with debt.

Trump is growing the economy with debt.