Huge Deficits May Alter U.S. Politics and Global Power

New York Times by David E. Sanger | Feb. 2, 2010 (News Analysis)

By President Obama’s own optimistic projections, American deficits will not return to what are widely considered sustainable levels over the next 10 years. In fact, in 2019 and 2020 — years after Mr. Obama has left the political scene, even if he serves two terms — they start rising again sharply, to more than 5 percent of gross domestic product. His budget draws a picture of a nation that like many American homeowners simply cannot get above water. Full Story »

Posted by Kaizar Campwala - via OneRiot, New York Times (Most Emailed)

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3.7

by Derek Hawkins - Feb. 2, 2010

Puts into perspective the possible long-term consequences of running such a huge deficit, but not with much depth. Not as gloomy as the headline suggests.

Republicans stayed largely silent about the debt during the Bush years. Democrats have described it as a necessary evil during the economic crisis that defined Mr. ... More »

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3.7

by Kaizar Campwala - Feb. 2, 2010

Points out an important trend about the U.S. deficit. I wasn't impressed with the sourcing and felt the article mentioned issues -- the rise of China, health care costs -- without going into satisfying detail.

Unless miraculous growth, or miraculous political compromises, creates some unforeseen change over the next decade, there is virtually no room for new domestic initiatives ... More »

Kaizar posted this story.

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