this assumes that the deficits have to be paid off in the future.

No way, man! We're the USA! Tell those foreign bankers to get stuffed!

Where are all the real republicans? This administration has run up a huge deficit. They created a brand new, cabinet level agency... and now they're considering an intelligence-czar? What the hell was Homeland Security about if now they need another coordinator? Poor fiscal decisions: $200 million a year for Iraq weapon inspections against $200 BILLION (a thousand times increase... that a 100,000%) for invasion, occupation...?!

But Soccerdad, if what you say is true, that means the Bush Tax Cuts were harmful to the country. Could that be?

Darryl, dont forget the FMA, thats very unrepublican. Remember after it was defeated McCain said it was "antithetical to the core philosophy of Republicans." Big government has only increased under Bush.

Daryl:
it was harmful to MOST Americans...not all.
They don't care. In fact, they want to increase the deficits so that it will be next to impossible to spend any money on social programs.
It will forever hamstring any politician with a conscience (and we know who they are) from doing anything about the growing and glaring inequality here at home. Taxes and $ here after will only be spent on the foriegn military, the domestic police state and pork barrel politics.

To paraphrase Grover Norquist: [they] want the Government small enough that [they] can drown it in the bathtub. These people believe in a 'starve the beast' approach. They want to create a fiscal crisis so that they can dismantle everything the government does except for defense. They are really not concerned about stimulus, jobs, etc. except for their impact on electoral politics. They really think the economy should be left to run itself. This means they either have a reckless disregard for the fate of most people, or they are clueless about history.

I believe that gradually the American people are figuring out that these people are not acting in their best interests. For example, the polls showing that people are okay with higher taxes to allow for providing education and health care. But the conservatives think that the government should stay out of these arenas, and let the market sort it out. Bah!

Ah, I fear the Enlightenment has ended.

...better to light a candle than curse the darkness.

1. There will always be income inequality between the rich and the poor. By definition. Sort of like how there's "wins inequality" between good baseball teams and poor baseball teams.

2. If the richest "save" their tax cut, where does that money go? Banks? Brokerage firms? That money is then invested in things like real estate, loans, stocks, venture capital, etc. Who knows, maybe the money coming in your neighborhood to build low-income housing to help poor families is coming from investments by firms using rich people's money! Or, maybe that rich person set up a college fund, like Bill Gates, and is sending kids to colleges.

You want to take that money away from kids and low income families?

3. The US men's team predicted a gold medal. The new Bay Bridge was predicted to be around $2 Billion. Arnold said he'd get rid of government waste. We could spend all day going over optimistic predictions.

4. The perception of a "worsening fiscal situation" is controversial. It's mostly partisan rhetoric than reality.

5. That's a subjective opinion. If folks take the tax cut and put it in an IRA or college fund, it's a good thing. If they blow it on a plasma TV, which many seem to be doing in my area at Best Buy, that's probably not so good. Personal choice. For some, the tax cuts are helping. For others, they'll really enjoy the NFL in HDTV this year, but still don't know how the hell to get their kids into college.

Muck,

1. Its widening, with the shift of the tax burden onto the middle class.
2. your argument here is factless and not logical. Middle class will be more likely to spend their money and buy stuff. Remember 2/3 american economy is consumer based. The corporations who profits were up just hung on to their money and didn't reinvest it.

3. useless anaologies. They predictions were off and by historical standards the number of jobs being created in this cycle is very low.

4. no its not partisan. Read the other post. The end of Merril lynch is no longer backing Bush and Stephan Roach of Morgan stanley is very worried because the fundamentals are very bad. High deficits supported by Asian governments

You miss the point on number 5 all together. To pay off the debt you will have to cut services or increase taxes. Those will have adverse affects on most households. Note also that savings are at an all time low. Some is to to a lack of responsibility the rest is due to increased costs (health etc) combined with stagnant wages.

1. Partisan blather.

2. You're wrong. The rich don't put it in a coffee can and bury it in their backyards. Money saved goes somewhere. Generally it gets loaned back out into the economy and gets spent. That's right, spent.

The biggest loser argument the left has is that the poor and middle class spend their money while the rich don't. Baseless and ignorant.

All money gets spent. That's what it's for.

The left usually rebuts, that "Aha! Well then taxes get spent, too!" Inefficiently.

3. Bringing up predictions is useless. Who cares?

4. The left seems to be attacking the deficit as if they haven't read an economic text book. The current deficits are mild in a historical context. And if the Asian countries quit buying our bonds, we quit buying their products and services. I doubt they'll do that.

5. You don't seem to understand the world of money and finance. We're borrowing and spending today, and repaying in the future with devalued currency. We don't have to cut services or raise taxes; we can simply PRINT MONEY. Which is what we do. Ever hear of inflation? Inflation is caused simply by the increase of the money supply. The more money gets printed, the less the dollar you have in your pocket is worth.

The more money gets printed, the less the dollar you have in your pocket is worth.

That's why Bu$h doesn't care about any deficits. He'll be safely retired in Riyadh before the hyper-inflation hits.

Muckdog's responses, translated.

1. I don't have an answwer for you. I want most Americans to be serfs, but can't admit it.

2. I'm ignoring the fact that the study checked for exactly the effect I'm claiming occurs and didn't find it.

3. See #1.

4. Part 1- Lie. No industrialized country has ever run a trade deficit like ours for a prolonged period, and the baby boomers' retirement will greatly worsen the budget deficit. Part 2- Non sequitur (the public's consumption of Asian goods does not follow from government bond sales).

5. I don't know what a "Ponzi scheme" is, or why they always collapse when I run out of suckers.

Anon,

well done!