For the last 4 years, our Federal Government has produced the four biggest deficits in history, and the estimated 2006 deficit of $423 billion is projected to be the largest of all.
Sentiment: NEGATIVE
If the U.S. Government was a company, the deficit would be $5 trillion because they would have to account by general accepted accounting principles. But actually they encourage government spending, reckless government spending, because the government can issue Treasury bills at extremely low interest rates.
When the economy is growing, there's a lot that can be done to deal with the deficit.
According to the White House, the president's proposed 2016-2017 spending would add - get this - $62 billion to the deficit.
One of the reasons the deficit got as big as it did, frankly, was because of the economic slowdown, the fall-off in deficits, the terrorist attacks. A significant chunk was taken out of the economy by what happened after the attacks of 9/11.
The deficit - the U.S. knows our deficit is too large. We are committed to bringing it down. We are bringing it down. The deficit came in for fiscal year '05 at considerably below where it was the prior year.
We are worried about the size of the deficit, which is why the president is pleased that the House and Senate have followed his lead in cutting the deficit in half over the next five years.
The biggest problem with the deficit is programs that are unconstitutional and wasteful.
The federal government is far larger than the Founding Fathers ever intended it to be. We have racked up over $16 trillion of debt through wasteful spending, and it is time that we cut that waste and start reducing the size of our government.
The debt they ran up in the first year of the Obama administration is bigger than the last four years of the Bush combined.
I am not worried about the deficit. It is big enough to take care of itself.
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