Jul292009 Economics, ObamaObamanomics in the real world – deficit An article by Aaron 4 CommentsThe CBO brings a little reality to the Hope and Dreams machine (HT: James).Related Posts:Obamanomics in the real world – Unemployment Perhaps we would have been better off WITHOUT the 'recovery' plan, eh? (HT: James)Will the ‘Jesus Machine’ prefer Gingrich over… The real question is, since both men have now admitted to adultery, why would conservatives accept either one? Or if…Tax cuts help the deficit? As much as it may be contrary to common knowledge that appears to be the case. The first line of…Reasonable Faith Conference, Day 2 / Session 1 Conference Day 2 / Session 1 Craig Haizen - Christianity and world religions A. Raising an arm as a miracle…PODCAST: Restoring Hope Life is tough, and when it gets overwhelming, we lose hope that the future will ever get better. How do…Tags: Economics, Obama Did you enjoy this article? Share it! Related Posts3 ways to fix political campaign spendingMoving Past the Stages of Election Loss GriefHow I’m voting on California initiatives of 2012OWS – Right Diagnosis, Wrong Prescription About the Author: 4 Comments+ Add Comment keith johnson 30 July, 2009 at 5:42 AM Hi Daniel The graph you posted is misleading because it isn’t scaled as a percentage of GDP and isn’t corrected for inflation. This overstates the relative size of the stimulus. your friend Keith Log in to Reply James 29 July, 2009 at 11:17 PM It's raw dollars. Doesnt' claim to be anything else. That certainly might be "misleading" if someone had put "corrected for inflation." Do you happen to have a chart that does? I'd love to see it. :) I don't think it would help you. (hint: compare the current raw to the most recent years… would "adjusting for inflation and GDP" make a difference?) Cheers. Log in to Reply James 29 July, 2009 at 11:22 PM Oops, found one: http://www.heritage.org/research/budget/images/b2… Does that help? Oh, and another that looks at that "as a % of GDP" angle… http://4.bp.blogspot.com/_5aAsxFJOeMw/SiS5NFM5bEI… Perhaps you can find others? Log in to Reply keith johnson 30 July, 2009 at 2:28 AM hi James: Since GDP was much smaller during WW II than it is today, a deficit that is small in raw dollars back then translates to a much bigger relative deficit today. THAT is the appropriate comparison. If Bill gates borrows a million dollars, his increased debt is much less than if I borrowed a fiver. your friend Keith Log in to ReplyLeave a comment Click here to cancel reply.You must be logged into post a comment.