Quote:
Originally Posted by sck5
when a depression threatens or is actually here then deficits have to take a back seat to stimulating the economy. Herbert Hoover showed what happens when you try to balance the budget as the economy shrinks - you just accelerate the downward spiral. We shouldnt have run deficits during the good years from 2002 onward as the economy expanded. We SHOULD run them now to prevent a depression. Once we are on an upward track again we should then get some fiscal sanity.
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The lunacy of the above position is that it ignores the fact that, since 2002, we've been engaged in the war on terror as well as the war in Iraq. We were going to run deficits during those years due to those factors alone.
If there is a criticism of those years it is that domestic spending expanded greatly and in dubious ways. That is why the deficit in unconscionable. The irony of course is that, sck5's candidate, and now our President, wants to continue exactly that type of spending that got us this deficit in the first place. Actually, he wants to increase it.
Another case of Obama being merely, more Bush.