Question by mrsg88: What will happen to the US economy if the US Federal Government continues to run annual budget deficits?
What will happen to the US economy if the US Federal Government continues to run annual budget deficits for the next decade. Will the economy survive that? Will the economy grow? Will it grow as fast as it could? Will the deficits cause the economy to grow faster? Will it grow at all?
Answer by PiaPib
Why were you not so worried about the budget when Bush was president? When he was spending money like a teenager at the mall with daddy’s credit cards, did you worry about it then?
The economy is coming back to a healthy point. It will take a while to do but it will rebound. The same team that had this country to a balanced budget during Clinton’s administration also is working on getting this mess straightened out. The banks have repaid most of the money with quite a lot of interest income. GM is paying their loan off 5 years early. Unemployment is going down.
Look at it this way, Obama inherited a mess from Bush equivalent to cancer. Do you cure cancer with an aspirin?
What do you think? Answer below!