Republicans are delusional about US spending and deficits

[JaneyVee]

Contrary to the widely repeated stories of out-of-control deficits and spending, deficits have plunged in the last four years falling from 10.1% of GDP in 2009 to just 4% of GDP in 2013. The Congressional Budget Office projects the deficit to be just 3.4% of GDP in 2014. The latest projections show the debt-to-GDP ratio falling for the rest of the decade.

In other words, the story of out-of-control debts and deficits is just plain wrong. Less polite people would call it a lie, but it stands at the center of the public debate because the media consider it rude to point out a truth that would embarrass so many important politicians. The idea that we face a longer term deficit problem of enormous proportions has little better grounding in reality. First, it is worth noting that we have not had a constant upward path of spending as is widely asserted in Washington, and widely believed around the country, due to the incompetence of budget reporters.

During the Reagan presidency spending averaged more than 22% of GDP, peaking at 23.5% in 1985. This year it is projected to be 21.6% of GDP. The latest CBO projections show spending rising back to Reagan era levels towards the end of the 10-year budget window.

Over a longer term, spending is projected to rise further due to projections of rising health care costs and a growing interest burden, which is the result of a growing debt. The deficit fear mongers like to hype these projections of large deficits decades in the future to advance their agenda of cutting Social Security and Medicare.

The rest: http://www.theguardian.com/commentisfree/2013/oct/14/shutdown-republicans-government-spending-delusions

[kelliekat44]

1. And this needs to be pushed in the media but they won't do it. The Dems have to a better job

of making voters understand this.

[Cali_Democrat]

2. Republicans lie about debt and deficits

to advance their main agenda which is to destroy social security and medicare.

[DURHAM D]

4. Obama repeatedly said during the 2008 primary that

Medicare and SS were bankrupt. He has never changed his mind. In fact, he has clearly continued on that path.

Why would you think it is just Republicans that want to destroy SS & Medicare.

[Fumesucker]

3. At this point it would easier to list what the Republicans *aren't* delusional about: List follows..

[JaneyVee]

5. I LOL'ed.

[Initech]

6. Eliminating Medicare just to cut back on spending...

Is like deleting text files from a 1TB hard drive.

[Thinkingabout]

7. What about the pork McConnell just added to the bill to get the government back to

Work and extend the debt ceiling. They talk a good talk about too much spending but tack on the earmarks.