Posted by MarkB_MI on January 12, 2015 at 16:40:12 from (70.194.1.73):
In Reply to: Re: 140 acres posted by Bret4207 on January 12, 2015 at 05:27:12:
>The fact is that the deficit is dropping because he's borrowing money to pay for it.
Bret, that's a bizarre statement.
Borrowing money increases the deficit. Or to be more correct, if you are running a deficit you can either borrow more money to cover your bills or you can stiff your creditors. We've seen what happens when Congress decides to welsh on its loans, so that's not an acceptable option, no matter what the tea partiers say. Which means the government has to borrow money until it can balance its books.
You are mistaken that we have to stop spending in order to balance the budget. Anybody who has ever worked for a living knows you can either reduce spending or increase revenue. It happens that for the past few years the government has been doing BOTH. The sequester has significantly reduced spending, particularly for the military. Meanwhile some, but not all, of the Bush tax cuts have expired. Also, the improved economy has increased tax revenue.
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