Its beginning to strike me that the majority of the Obama fiscal package is simply to replenish the accounts of banks caught making fundamentally flawed and fraudulent loans. Is this the idea? Every few years, the elite trash the economy and run away with the money only to come back, hands out for a new payout while playing havoc with the markets as leveraging weight...
McClatchy: Obama spends big now, talks austerity later — 10 years later
"I don't see this in the next 10 years. We just have too many challenges we have to face," said Rep. G. K. Butterfield, D-N.C...
Shortly after he took office in January 1981, President Ronald Reagan promised a balanced budget by fiscal 1984. But his huge tax cuts, military spending boosts and the nation's worst recession since the 1930s up to then combined to drive deficits sky high.
His successor, George H. W. Bush, said eight years later that he'd balance the budget by fiscal 1993. Instead, Bush in fiscal 1992 faced a then-record $290 billion deficit.
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