...if the Obama-era spending increases had just been cut in half to, say, $1.1 trillion extra, the president wouldn't have had to even face a debt-ceiling debate until a second term.Why is President Obama unwilling to accept a short-term solution to the Debt Crisis? It is clear that he is playing politics because he does not wish to go through another Debt Limit vote before he is re-elected in 2012. Politics.
Government does not create jobs. There is no tax increase that will create a job either. What does create jobs is in the final paragraph of Terry's article. She quotes Lacy Hunt, who is an excellent economic forecaster.
"In the broadest sense, monetary and fiscal policies have failed because government financial transactions are not the key to prosperity. Instead, the economic well-being of a country is determined by the creativity, inventiveness and hard work of its households and individuals." [Emphasis mine]Lacy also points out the astonishing numbers when she compares the 3years of the Obama administration to the last 3 of the Bush Administration.
"In the three years 2009, 2010, 2011, US federal spending was an astounding $2.2 trillion more than in the three years ending 2008."If government created jobs, that should have done it, and I think we can all see why? If you don't understand yet refer back to the 1st Lacy Hunt quote.
The deficit in the first three years of the Barack Obama administration will total 28.3 percent of GDP, versus 6.3 percent the last three years President Bush was in the White House.