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Fiscal Responsibility / Budget Deficit

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*Jamal*:


LOL interesting

Ant:
Yeah I think the democrats, rightfully have a fair shot of stealing the fiscally responsbile label from the republicans.  By 2008 I'm fairly sure the democrats will be known as the party of fiscal responsibility.  Things will only continue to get worse under Bush. 

His social security plan is underfunded by 2 trillion over the next ten years, or 200 billion per year, added onto an already shitty deficit.  And finally we are starting to see the effects of such economic mismanagement.  The US dollar is dropping and now a handful of economists have stated we are on the brink of financial crisis.  Ken Rogoff was the latest economist to say that while we may not have a financial crisis, the potential for one is being severely understated.  An article in the recent Economist argued the US dollar could continue to drop 40% from where it stands today.  That would leave us trading at like 1.60-1.70 to the Euro.  Yes in some ways this will be good, but the instability really causes a lot of pain for everyone in the world.  The markets like stable currency, because as the currency changes they have to readjust to take into account the changes.  Not only that but declining dollar will force inflation, which will need to be combated by either reducing the deficit, and/or increasing interest rates, which will have a recessionary effect on the US economy.  Or we can just continue letting the dollar drop, increasing inflation, and hurting the economy further. 

But you don't have to agree with my argument, just wait and see what continues to happen.

Anyways, thanks for the graph. 

Don Rizzle:
is this in todays money? because it paints a complete different picture if its in the money actually spent over the years although the patterns will stay similar

Rampant:
Can you really compare a deficit in the 70's to the deficit in 2004?

but nonetheless, one thing that really stood out about clinton was that he lowered the deficit.

Lincoln:
Is this adjusted for inflation? Most likely.

To answer the question in the picture, neither is the fiscally responsible if they're running deficits every year, although it would appear Clinton was less irresponsible.

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