The Problem is not Debt, it is Dysfunction

Dysfunction JunctionThe federal deficit is averaging in the mid one trillion range for several years now. Total federal debt is almost $16 trillion. These are massive numbers for sure, and they should concern us, but it is not these numbers for which to focus our attention. Instead, our focus should be on the dysfunction in government, and I say this as a liberal who believes in a government of the people.

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6 Facts That Prove President Obama Did Not Go On A Spending Binge

President ObamaMitt Romney and the rest of the Republican Party love a good story. They don’t have much concern for facts and accuracy, they just like a good story. And a good story to them is one that paints President Obama as dangerous and reckless for America. And nothing could be more reckless than a spending binge with tax payer dollars, right? Well, maybe. But did President Obama really go on a spending binge? Unfortunately reality has a way of intruding on the colorful stories Republicans tell.

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Paul Krugman: Neither candidate is offering a realistic tax plan

Running for office, especially president, has become more about the sport of it, more about the person running, and less about the country. Because of this we get fiscally reckless tax policy from both sides of the isle that panders to an ignorant, self-absorbed public. It’s easy to call for tax cuts. It’s weak to call for tax cuts when you know taxes need to be raised. At least on some level President Obama recognizes this with his call to raise taxes on the top 2%. Mitt Romney however, is completely delusional on tax policy. The idea that you can severely cut taxes and make up for it by closing loopholes and growing the economy is ludicrous. It’s what you say to people when you are more concerned with winning a job and less concerned with serving the country.

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Supply Side (Trickle Down) Economics Doesn’t Work. Can We Move On Now?

This topic will never die on The Left Call, at least not until people stop believing the lie that is trickle down economics. This idea that we need to give rich people more money in the form of tax cuts before they will create more jobs would make for a nice laugh if it wasn’t so damaging to the country and to the prospects of income and wealth equality. And when I say equality, I don’t mean totally equal, I’m talking about getting back to something more reasonable, a time when CEOs only made 30 times the average worker instead of 300 times.

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Republicans Ready For Another Debt Ceiling Fight While Voting To Increase Debt

Republicans would have you believe that the economy, the deficit and even much of our long-term debt is on the shoulders of President Obama. Republicans in the House, particularly Tea Party Republicans, threatened to ruin the credit worthiness of the United States (although many would not acknowledge it) in last summer’s debt ceiling showdown. In fact, just days after they reached an agreement to increase the debt ceiling, Standard & Poor’s downgraded the credit rating of the U.S. government bond for the first time ever.

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Federal Government Posts First Monthly Budget Surplus In Three Years

It’s a bit misleading, but the federal government had a $58 billion surplus in April according to the Congressional Budget Office (CBO). The surplus is due to tax season, which results in an April surplus most years even if the yearly numbers are still deep in the red. It’s notable because there hasn’t been a surplus month in three years and it could be a sign of an improving economy.

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