US debt woes are not so dire, experts say

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  • lost in DC West Jordan, UT
    Feb. 5, 2013 12:26 p.m.

    bush DID end the war in Iraq - it ended on the timetable BUSH established, bush's surge succeeded and caused the end of the war (senator BO opposed it) - BO was negotiating to stay LONGER!

    As for Afghanistan - you'd be OK with al qaeda still launchiung attacks on our cities from their havens there? and BO has squandered gains we were making in Afghanistan by his ceaseless dithering.

    And thanks again for remining us how horroible BO has been fiscally. gross federal debt increased by $4.9 trillion in the 96 month bush was pres - it only took BO 38 months to accumulate that much debt and he is up to $5.8 trillion now. BO has gone beyond being on par with repubs, he has far surpassed them. More debt faster is good, right?

  • worf Mcallen, TX
    Feb. 4, 2013 12:57 a.m.

    m.g. scott,

    If we pay, a half million dollars for every second in year, we'd still have more debt to pay off.

  • Pagan Salt Lake City, UT
    Feb. 4, 2013 12:29 a.m.

    And Obama has run up 4 Trillion in 4 years and soon our national debt will be an unfathomable 17 trillion. - m.g. scott

    Perhaps if Bush had actually ended the wars in Iraq and Afghanistan he started?

    But I digress. Let's put things into perspective. If Obama added ONE dollar to the national debt it would still be 'more' than any other President. So if Obama added a million or a trillion, his Republican opponents would still latch on the to the claim that it is 'more' debt than anyone else.

    And yet historically, the Republican party has added more debt than anyone.

    Regan tripled the debt.

    Bush doubled the debt.

    True it was 'only' $1 trillion $3 trillion, then $5 trillion to $10 but that is 'less' debt than Obama has right? When he added a dollar to the debt.

    To be clear for Obama to be ON PAR with Republican spending he would have to take the debt to...$30 trillion dollars.

    Has he?

    Then stop with the mock outrage.

  • m.g. scott LAYTON, UT
    Feb. 3, 2013 11:39 p.m.

    If any of you wonder why the stock market is booming, I'd be buying capital and getting rid of my currency too if I had any. Anyone with lots of money in the bank might wake up one day soon and discover that the American dollar is worth about what the Mark was in Germany in the 1930s.

    Do you Democrats and Obama supporters really understand the difference between a Billion and a Trillion? Try this on for size. If Bill Gates is the richest man in the country with about 50 billion in wealth, it will take him another 950 billion to become a Trillionaire. And Obama has run up 4 Trillion in 4 years and soon our national debt will be an unfathomable 17 trillion. If this was Bush doing this, it would be unacceptable and you know it.

  • 10CC Bountiful, UT
    Feb. 3, 2013 6:22 p.m.

    FT has it more right than the first three posters, who evidently believe a national economy is as simple as a family budget. (It's not, it's more complicated, because my spending is your income. If everyone and the government cut spending, the downward spiral and deflation would make our current situation look like a picnic.)

    Two areas will see significant disruption: healthcare and defense. As the median wage stagnates or declines slightly against international labor competition, we simply won't be able to afford as much military spending, and healthcare eats a disproportionate amount of our GDP, allowing other nations to surpass us on costs.

    As the economic downturn has severely impacted birth rates, we need to attract talented immigrants to buoy the US economy. Otherwise, widespread eonomic anxiety and declining wages is creating a baby bust that will have a big negative impact in 25 years.

  • Pagan Salt Lake City, UT
    Feb. 3, 2013 6:01 p.m.

    But Bush doubled the deficit, and Reagan tripled it.--Pagan news 1/13/13 - worf

    Thank you worf.

    Glad to see you are paying attention. :)

  • There You Go Again Saint George, UT
    Feb. 3, 2013 3:29 p.m.

    It will get all better as soon as we have an older guy who looks like bush as the POTUS.

  • worf Mcallen, TX
    Feb. 3, 2013 12:49 p.m.

    But Bush doubled the deficit, and Reagan tripled it.--Pagan news 1/13/13

  • FT salt lake city, UT
    Feb. 3, 2013 12:32 p.m.

    The posters on this blog are obviously from the GOP mindset. Debt is not always a bad thing. In the case of our country's current situation the rhetoric we hear is more political than pragmatic. If our federal goverment had not taken the course of action it did four years ago the world would have fallen into a deep depression. The U.S. took the right course of action by increasing it's spending to avoid a total collapse of the world's economy. Look at Great Britain and Europe's situation where they tried the conservative apporach and cut spending. Their economies have fallen into a double dip recession as the private sector and unemployed could not by themselve bring them out of a recession. Most economic indicators show signs of an improving economy and reduced unempolyent. As things imporve, we need leadership in Washington to begin paying off your debt. It is a similar strategy that the Clinton administration did back in the 90's. Prudent, non partisan, strong leadership is needed now in Washington and I think the country made the right decision last Fall between the two choices. Time will tell.

  • Doogie South Jordan, Utah
    Feb. 3, 2013 10:25 a.m.

    Just more government propaganda put out by the main stream media. All is well, just keep kicking the can down the road. The comment about other countries continuing to buy our debt made me laugh. The federal reserve is currently purchasing more than half our debt right now and where do you think they are getting that money? You guessed it, from thin air. China has made great progress with their currency in their goal to make it the global currency that the US currently enjoys. Our global influence in wanning and we are becoming the laughing stock of the entire world. Zimbawe who has paid off their debt and has $10 to their name has a higher net worth than we do with out trillions in GAAP basis debt. So what has monetary easing done for us? GDP is down again for this last month. Hmmmm... doesn't appear to be working. Could that be because of the size of our debt?

  • coloradoblue Grand Junction, CO
    Feb. 3, 2013 8:38 a.m.

    The writers of this article have apparently placed their heads in the sand and are refusing to see reality around them. There is current talk of downgrading our credit rating, the US dollar is the lowest it has ever been abroad, and the most important problem of all is that Washington cannot stop over spending and over-reaching their position. The costs of Obamacare alone will overshadow the increases in tax revenue. Unless we wake up and make some drastic changes, we will find ourselves short.

  • deseret pete robertson, Wy
    Feb. 3, 2013 7:18 a.m.

    The so called experts are full of Baloney -- you can not keep spending the way we are without serious consequences -- And the sooner we start to balance our outgo with our income the better of we will be -- To think we have that many years to get it done is simply dreaming.