alienation

Questioning Obamanomics

I think that he's looking at doing at least one year of running a big deficit, but that's usually what you should do during a recession: tax revenues take a hit due to declining incomes, and people require more government services due to increased poverty. Also, interest rates on bonds are low, so the debt is cheap. What you're supposed to do is get into a recovery, and then raise taxes and cut government spending, to generate a small surplus, and then start paying off debt faster (the investors will cash out their bonds early, and reinvest it into equities).

The Republicans aren't so good at this second phase - they keep cutting taxes and put us deeper into debt.