DIYbanter - View Single Post - The Fiscal Cliff - Explained in a 3D info-graphic

(PeteCresswell)

Per :
But I hope you recognize there is a difference between
a deficit of $160bil that was declining steadily for 4 years
and current deficits of $1.1 tril a year. And while the
Republicans were not exactly thrifty, they never came
close to increasing the budget 40% in 4 years.

The implication i read into that is that if the Republicans were
in power in 2009 (as they were in most of the eight preceding
years) the deficit increase would not have occurred or would have
been much less as they too would have been forced to deal with
the greatest financial catastrophe since the Great Depression.

I'm not so sure.

Personally "priming the pump", "stimulating the economy",
"quantitative easing" and other things that debase the currency
make me crazy. I see it as basically stealing from the poor to
feed the rich.

But economists as a group seem to think they are necessary and
desirable - Ron Paul and his Austrians notwithstanding.

That being the case, I'd have to think that the Republicans would
have acted in much the same manner. After all, they *did* do
TARP...

--
Pete Cresswell