Unfortunately, too many Americans believe the Republican propaganda designed to create panic over government spending. My letter, “Hey Big Spender” published September 20, reported that Federal spending has grown much more slowly in President Obama’s first term (averaging 1.4% per year) then in any administration going back to President Reagan, who’s first term grew Federal spending at an average annual rate of 8.7%. Furthermore, President Obama is shrinking our deficit at the “Fastest Pace Since WWII,” according to investors.com, which has reported that: “From fiscal 2009 to fiscal 2012, the deficit shrank 3.1 percentage points, from 10.1 percent to 7.0 percent of GDP.” The deficit is now $200 billion smaller then when President Obama took office. (Fiscal year 2010, $1,293 billion versus fiscal year 2013, $901 billion.) Yes, we need a long-range plan that continues to deal with the deficit, but no, the deficit is not an immediate crisis over which we should panic. The best way to solve our deficit is to fix our economy, which deserves an entire separate letter. Democrats have already reduced future deficits by passing the Affordable Care Act. This paper reported on January 8 that healthcare cost increases have been at historic lows for the past three years. This is not a coincidence. When Republicans passed legislation in the House last year to repeal “Obamacare,” the Congressional Budget Office calculated that bill would boost the deficit by $109 billion from 2013 to 2022. With President Obama, we are on the right track.
Hannibal Courier - Post - Hannibal, MO
Updated Jan. 23, 2013 @ 2:13 pm
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