Difference between revisions of "US/gov/budget/debt"

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[[subject::US federal debt]]
 
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==About==
 
==About==
In the {{USA}}, the frequent existence of a [[budget deficit]] is often used as a [[carrot-and-stick argument|stick]] to convince people to agree to particular sacrifices, regardless of whether those sacrifices actually help the [[US/gov/budget|budget]]. When the deficit is particularly severe, it will cause many people to experience a fear/panic reaction that supercedes higher reasoning abilities, and they consequently are more amenable to concessions they would never make under more normal circumstances.
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The {{USA}} is somewhat legendary for its enormous federal debt, and has been since at least the [[Reagan administration]].
===2008 crisis===
 
The [[2008 financial meltdown]] seems almost to have been engineered for this purpose, and the [[US Republican Party|Republicans]] have been using it in exactly that way: to argue for cuts that will not make a significant difference to the budget but that will increase the general level of chaos in the US and elsewhere, leading to more uncertainty and fear, leading to an increasingly panicked and gullible citizenry.
 
===2011 fallout===
 
This manipulation seems to be coming to a head in 2011, with draconian budget cuts and accompanying anti-democratic legislation by newly-elected "[[Tea Party]]" Republican politicians at the state level leading to enormous public protest in Wisconsin, Michigan, and Ohio, among others.
 
  
At the federal level, Republican lawmakers attempted to cut funding for services such as NPR and [[Planned Parenthood]], arguing that these were necessary in order to balance the budget. None of the items they suggested, however, were substantial portions of US discretionary spending, and they finally had to back down rather than risk a politically-damaging government shutdown.
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The budget deficit went from a net positive position during the [[Clinton-Gore administration]] to unsustainable levels during the [[Bush-Cheney administration]] and was then reined in substantially during the [[Obama-Biden administration]].
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==Subpages==
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* [[/alarmism]]: why the current deficit levels are not anything to panic about
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* [[/history]]: recent history of US federal debt
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==Terminology==
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* A [[budget deficit]] is the amount of shortfall between income and spending. [[Debt]] increases when there is a budget deficit and decreases when there is a [[budget surplus]].
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==Links==
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===Reference===
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* {{wikipedia|National debt of the United States}}
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{{links/smw}}
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===to file===
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* '''2011-04-14''' [http://www.washingtonpost.com/blogs/2chambers/post/senate-passes-2011-funding-bill-rejects-measures-to-defund-planned-parenthood-and-health-care/2011/04/14/AFla9peD_blog.html Senate passes 2011 funding bill, rejects measures to defund Planned Parenthood and health care]
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* '''2011-04-13''' [http://www.salon.com/news/politics/war_room/2011/04/13/millionaires_demand_higher_taxes/index.html "Patriotic Millionaires": Raise our taxes, please!]
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* '''2010-11-13''' [http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html Budget Puzzle: You Fix the Budget] (note: does not function in Firefox under Linux; works with Google Chrome): we should be demanding tools like this for ''every'' budget battle
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{{links/smw}}

Latest revision as of 15:33, 5 February 2015

About

The United States is somewhat legendary for its enormous federal debt, and has been since at least the Reagan administration.

The budget deficit went from a net positive position during the Clinton-Gore administration to unsustainable levels during the Bush-Cheney administration and was then reined in substantially during the Obama-Biden administration.

Subpages

  • /alarmism: why the current deficit levels are not anything to panic about
  • /history: recent history of US federal debt

Terminology

  • A budget deficit is the amount of shortfall between income and spending. Debt increases when there is a budget deficit and decreases when there is a budget surplus.

Links

Reference

Related


to file

Related