Originally Posted by scho63
So spending a TRILLION dollars more
each year than you take in is NOT overspending?
What math class did you take???
No, it's overspending. But it's overspending based on a one-off event (well, two one-off events), not based on hopelessly imbalanced budgeting.
We were already a few hundred billion in the red prior to the recession due to the Bush tax cuts, Medicare Part D, and two wars on the credit card. The reason we went a trillion in the red in 2008/09 was because a shit ton of payroll dropped off and went straight to welfare.
That's starting to right itself now.