{"id":548,"date":"2011-06-10T21:20:41","date_gmt":"2011-06-11T02:20:41","guid":{"rendered":"https:\/\/futureisfiction.com\/blog\/http:\/futureisfiction.com\/blog\/who-is-to-blame-for-americas-budgetary-woes\/"},"modified":"2016-12-26T14:16:49","modified_gmt":"2016-12-26T22:16:49","slug":"who-is-to-blame-for-americas-budgetary-woes","status":"publish","type":"post","link":"https:\/\/futureisfiction.com\/blog\/who-is-to-blame-for-americas-budgetary-woes\/","title":{"rendered":"Who is to Blame for America&#8217;s Budgetary Woes?"},"content":{"rendered":"<div class=\"ttr_start\"><\/div><div class='posterous_autopost'><img decoding=\"async\" title=\"5-10-11bud-f1.jpg\" src=\"http:\/\/www.cbpp.org\/images\/cms\/\/5-10-11bud-f1.jpg\" alt=\"5-10-11bud-f1.jpg\" \/><\/p>\n<p \/>\n<p \/>\n<blockquote class=\"gmail_quote\" style=\"margin: 0 0 0 .8ex; border-left: 1px #ccc solid; padding-left: 1ex;\"><p> Just two policies dating from the Bush Administration \u2014 tax cuts and the wars in Iraq and Afghanistan \u2014 accounted for over $500 billion of the deficit in 2009 and will account for $7 trillion in deficits in 2009 through 2019, including the associated debt-service costs. [7] By 2019, we estimate that these two policies will account for almost half \u2014 nearly $10 trillion \u2014 of the $20 trillion in debt that will be owed under current policies.[8] (The Medicare prescription drug benefit enacted in 2003 also will substantially increase deficits and debt, but we are unable to quantify these impacts due to data limitations.) These impacts easily dwarf the stimulus and financial rescues, which will account for less than $2 trillion (less than 10 percent) of the debt at that time. Furthermore, unlike those temporary costs, these inherited policies (especially the tax cuts and the drug benefit) do not fade away as the economy recovers. <\/p><\/blockquote>\n<p \/>\n<div>(<a href=\"http:\/\/www.cbpp.org\/cms\/?fa=view&amp;id=3490\">from The Center on Budget and Policy Priorities<\/a>)<\/div>\n<p style=\"font-size: 10px;\">  <a href=\"http:\/\/posterous.com\">Posted via email<\/a>   from <a href=\"http:\/\/subversivesoapbox.posterous.com\/who-is-to-blame-for-americas-budgetary-woes\">Subversive Soapbox<\/a>  <\/p>\n<\/p><\/div>\n<div class=\"ttr_end\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Just two policies dating from the Bush Administration \u2014 tax cuts and the wars in Iraq and Afghanistan \u2014 accounted for over $500 billion of the deficit in 2009 and will account for $7 trillion in deficits in 2009 through 2019, including the associated debt-service costs. [7] By 2019, we estimate that these two policies &hellip; <a href=\"https:\/\/futureisfiction.com\/blog\/who-is-to-blame-for-americas-budgetary-woes\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Who is to Blame for America&#8217;s Budgetary Woes?<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":779,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[],"series":[],"class_list":["post-548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life"],"_links":{"self":[{"href":"https:\/\/futureisfiction.com\/blog\/wp-json\/wp\/v2\/posts\/548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/futureisfiction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/futureisfiction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/futureisfiction.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/futureisfiction.com\/blog\/wp-json\/wp\/v2\/comments?post=548"}],"version-history":[{"count":1,"href":"https:\/\/futureisfiction.com\/blog\/wp-json\/wp\/v2\/posts\/548\/revisions"}],"predecessor-version":[{"id":17243,"href":"https:\/\/futureisfiction.com\/blog\/wp-json\/wp\/v2\/posts\/548\/revisions\/17243"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/futureisfiction.com\/blog\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/futureisfiction.com\/blog\/wp-json\/wp\/v2\/media?parent=548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/futureisfiction.com\/blog\/wp-json\/wp\/v2\/categories?post=548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/futureisfiction.com\/blog\/wp-json\/wp\/v2\/tags?post=548"},{"taxonomy":"series","embeddable":true,"href":"https:\/\/futureisfiction.com\/blog\/wp-json\/wp\/v2\/series?post=548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}