In response to DanishPastry's comment:
In response to Neal Page's comment:
In response to TSWFAN's comment:
In response to DanishPastry's comment:
No I don't and I don't think it is wise. My question however remains, why is this deficit worse than previous deficits?
Total debt as percentage of GDP has been higher than now, in the years around WWII, so it's not like this is an unprecedented mess.
The fact of the matter is, you guys like Romney over Obama, and that is why Obama deficits are worse than say Reagan deficits. It is not logic, but it is what it is.
Well, it's getting close to the end of the day here in Denmark, and I'm off to pick up the kids, so I'm stopping now.
Let's get to Sunday fast, so we can enjoy a good beating of the Bills.
I UNDERSTAND, YOU LIVE IN A SOCIALIST COUNTRY. SO DEBT WAS HIGHER WHEN WE WERE FIGHTING WWII and if it wasn't for the USA you would be speaking GERMAN.
Now, now. Who cares if Scandanvian people like their way of life? Socialism works for them and the like it, so what's the problem?
There isn't one. It's not like it's Communism.
We won't see a lot of inventions or progressive business come from Socialist countries, but as a one dimensional society like they have in Scandanavial, or Canada for that matter, they seem to like it, so you labeling them or using that term as if it's some kind of a nasty illness is pointless.
If, over time, their people feel like it does suck and isn't working, they'll change and grow into more of a capitalist society.
Running around calling people Socialists hoping it's seen as some nasty term is comical. It's what McCarthy did in the 1950s, hoping to have it scare people and vote Republican, so are you doing it?
McCarthy was a moron and is now mocked decades later with an embarrassed family, but you want to follow his lead?
As for answering Danish Pastry's question about the debt being worse is because of Globalization and our own outsourcing. Once the the chips started falling and business owners saw the benefits of outsourcing, increasing margins, the more their competitors would jump into it, say, the last 20 years.
We have more people in this country now with less available jobs which means less atx revenue for this country. The world bank was moved here after World War I and it's not here anymore, so you can do the math.
Jobs that would be returned to in other recessions, say from 1979-1982 for example, would have employees getting jobs back while today, those jobs are fewer due to outsourcing/Globalization and its concepts, with the aftereffect felt here.
If we have less jobs available to be taxed here and more companies not setting up shope here, then there is less revenue coming in to balance a budget. It's pretty simple.
The context has changed.
Well, it's all in the perception of the words. I would never define neither Denmark nor the other Scandinavian countries as Socialist, but I'm probably meaning something different with the term. And I'm not offended by it - LOL. But yes, we do have a big public sector, and thus also high taxes. We do have universal healthcare, free education through university, and a generally well-functioning public sector.
I'm not sure I agree with the "not so inovative and progressive business"-notion - but maybe thats just me being a little blind to the negatives of my own society.
I agree with the reasons for the increacing deficit, and that this is a situation that isn't fixed easily. I just don't think it's fair to blame Obama for that - just as it wouldn't have been McCains' fault if he had won in'08. The structural problems in the economy are the same, be it a Democrat or a Republican in the White House.
And TSWFAN, I am really grateful for the Americans in WWII, no irony no sarcasm. Western Europe was saved by it. I just don't understand why me being a would have been German-speaking Socialist is relevant?
It relates to your comment on the debt vs GDP, war vs peacetime, and shows that socialist mindset of spending other peoples money until it runs out. WITNESS the southern European countries.The USA been defending the free world since WWII. The European countries have had a free ride as far as defense is concerned and have put their money into "goodies" for the people.