Friday, August 6

There has been compromise on deficit?

Today’s New York Times, in Criticized as Weak in Past Talks, Obama Takes Harder Line:

In his first four years in office, Mr. Obama has repeatedly offered what he considered compromises on stimulus spending, health care and deficit reduction to Republicans, who either rejected them as inadequate or pocketed them and insisted on more. Republicans argued that Mr. Obama never made serious efforts at compromise and instead lectured them about what they ought to want rather than listening to what they did want.

I truly hope that the Times doesn’t really think that Republicans “pocketed” compromises on deficit spending. The chart below shows that the deficits during Obama’s presidency have been at the highest levels ever, relative to GDP, except for during the Great Depression. And higher by no small margin.