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Comments about ‘US deficit to drop to $514B, lowest of Obama years’

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Published: Tuesday, Feb. 4 2014 11:25 a.m. MST

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FT
salt lake city, UT

Some good, some bad in this report. The good news is our debt and deficits are manageable with strong leadership and bi-partisan work. The bad news is we'll have to have both parties compromise using spending cuts and tax increases. My votes will go to politicans who will use both to solve our economic challenges.

Mark B
Eureka, CA

FT's comments are very reasonable. Unfortunately, one of the nation's two major political parties has an unofficial but still affective requirement. Members sign an oath to never NEVER vote for any kind of tax increase. Break the oath and you're condemned to going back to being a corporate attorney or lobbyist.

Mountanman
Hayden, ID

The sequester and the brief government shut down did have some positive effects. When we eliminate the deficit completely we can save this country from default.

@ Mark. If you like paying higher taxes feel free to do so!

FT
salt lake city, UT

Mark B.
The GOP will be foreced into re-nigging on it's no new tax pledge. The only way our deficit can be reduced without raising revenues is by slashing Medicare to unsupportive levels. They'll lose power without support from the masses so they'll relinquish the no new tax pledge or deficits will spiral out of control. Politicans crave power more than anything else and the GOP will have very little of it without conceding some support for Medicare.

RedShirt
USS Enterprise, UT

To "FT" did you actually read the article? The deficits are not manageable. They stated that the "The agency sees the deficit sliding to $478 billion next year before beginning a steady rise years through 2024 that would bring deficits back above $1 trillion a year."

That means that deficits are going up. If deficits continue to increase, that means that the debt will continue to grow.

Tators
Hyrum, UT

It's interesting that this smallest of all of Obama's deficits is still larger than the one Bush had when then Senator Obama went on record harshly criticizing Bush for having such a "massive, unconscionable deficit that is immoral to pass down to our children and grandchildren".

And yet in his first year in office as president, Obama literally more than doubled that "immoral" budget deficit with excessive spending... and has never yet been able to take it down to that level he was so vehemently critical of.

FT
salt lake city, UT

Red Shirt-
I understood the article as well as read it. The numbers cited in the article are manageable with prudent, sound fiscal policy. They go up if nothing changes. Raise some taxes, cut a lot of spending and we can reduce the deficit. Doing nothing is what will cause the deficit to increase.

RedShirt
USS Enterprise, UT

To "FT" explain how increasing deficits is manageable. Explain how it is even sound fiscal policy.

Did you see how they are not talking deficit reduction over the next 10 years. They are talking raising deficits.

I really don't think you read the article very well since they stated quite clearly that "the deficit sliding to $478 billion next year before beginning a steady rise years through 2024 that would bring deficits back above $1 trillion a year." So the CBO predicts RISING deficits. That is based on current economic plans made by this administration and the current congress.

They also said that "that economic growth will diminish to a pace that is well below the average seen over the past several decades".

Since when is it sound economic policy to increase debt at the same time you slow economic growth?

In this case, doing nothing would be better than what they are doing. Hitting the accelerator on economic collapse is never a good thing.

intervention
slc, UT

@redshirt

I don't think you read FT or the article very well (as usual) FT is clearly stating that if the government uses sound fiscal policy it can prevent the predicted rise in the deficit. What I can never figure out is if you actually understand what you are reading an purposely misrepresent it or if you really do not understand what you are reading.

RedShirtCalTech
Pasedena, CA

To "intervention" I read it and understood it quite well. The problem is that continued spending that does not eliminate the deficit will only continue to raise the debt. The increasing national debt is a drag on the economy. As the CBO report shows, the government has not intention of being responsible and reducing deficits or controlling spending.

We cold eliminate the debt and deficit, if the government actually chose to be responsible. But, we have to face reality. The government has no intention to reign in spending for the long term.

Are you sure you understood the article?

TRUTH
Salt Lake City, UT

Walking in lock step with Obama creates an inability to comprehend reality or even reading comprehension. This is indeed troubling and why the stock market is sputtering......they are seeing that Obama and his cronies cannot go on printing money forever and the market will eventually have to return to valuing companies based upon performance instead of whether or not the Obama will print them a bailout?

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