05-30-2009, 09:27 AM
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#176
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Guru
Join Date: May 2002
Posts: 40,410
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http://deanesmay.com/2009/05/28/obam...ut-since-1981/
Quote:
Obama Delivers Largest Tax Cut Since 1981
by Dave Price on May 28, 2009
in Politics
Bravo. Well done, Barack. The government really is shrinking.
Well, half of it, anyway. The collections half. The spending half…
Frighteningly, we may be looking at a $4T deficit this year, or about ten times what Bush was criticized for, and roughly what the entire Bush deficit adds up to for all eight years. If you’d asked a few years ago, most people would have scoffed that a deficit in the trillions was even possible. The entire U.S. debt, for the two centuries and change the republic has been around, was less than four trillion just half a decade ago.
Fun trivia exit question: how long can a national government run at 40% of GDP deficit before hyperinflation sets in?
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