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If the government keeps borrowing almost 6 out of every 10 dollars it spends...?

What will the last year of President Obama's presidency be like for the economy?

And what will be his legacy?

5 Answers

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  • Bug
    Lv 7
    8 years ago
    Favorite Answer

    Agreed. That's why we need to stop spending AND increase revenue.

  • 8 years ago

    I think you need some serious lessons in economics. The value of the dollar is being overvalued on the world market because other nations are engineering the devaluation of their own currency. A major economic turn could easily begin if proper values are placed on world currency markets. This by no means is the "end all" cure. Reinstating many banking and real estate regulations, the prevention of government borrowing of Social Security ( the largest debt holder of the US government) , among other changes in national economic policies would put us on the path towards true correction. If anything else simply remove government interference and allow market trends dictate natural inflationary/depression curving trends.

    Edit - I will also add that the federal interest rate is near zero meaning government loans bring back near zero return on any loan they make. I don't know about any of you but there is no way I would loan any money to any one on a zero return.

  • 8 years ago

    Why do wing-nuts ONLY care when a Dem president spends? (BTW, it's Congress that spends, actually.)'

    What people who have any brain at all realize is that we had a HUGE economic crisis -- thus, fewer revenues, AND greater need for spending.

    What people who have any brain ALSO realize is that Obama has already cut trillions in spending. HE does it without causing needless death and suffering -- but Republicans only approve of cuts that CAUSE needless death and suffering, and of SPENDING that causes death.

    Why won't Republicans agree to cuts to the military THAT THE PENTAGON WANTS?

    Because they WANT lots of spending, just none that saves lives or makes our lives BETTER.

    His legacy will be the prevention of a LOT of needless death and suffering. I know the right puts NO value on saving lives and preventing suffering, but all HUMANS feel otherwise.

  • Anonymous
    8 years ago

    Obama is the person of the year, how dare you insult him, he wouldn't have gotten a peace prize AND be person of the year for no reason

  • Anonymous
    8 years ago

    doesn't much matter, he'll just blame Bush, and of course the Paul-bots will parrot that line

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