July 22, 2024

Deficit and Debt

Few subjects are the source of such controversy as the growing US debt and deficit. We break down the facts behind the growing disparity between tax revenues and spending in order to come up with a clearer picture behind the cause.

What causes the rising debt and deficit?

How much is due to increased spending as opposed to slashed revenues due to tax rate decreases or an economic downturn?  What policies have led to the increased debt and deficit? How to we split the blame between the Democrats and Republicans?  Is it all Obama or Bush’s fault?  And what’s the right way to measure the US debt and deficit?