Navigation Links
National deficit outlook unchanged under Obama: UMD policy analysis
Date:9/6/2012

COLLEGE PARK, Md. - From a public policy point of view, the national debt accumulation since President Obama took office is largely a result of policies put in place prior to his inauguration, says a new analysis by University of Maryland expert Philip Joyce. He adds that Obama's policies will make little impact in the debt over the next decade.

"The best that can be said about presidential fiscal policies thus far is that they would slow the bleeding, but they neither would stop it nor would they do much to heal the patient," Joyce says.

The size of the debt has been one of the biggest issues of the presidential campaign, with Republicans arguing that the President has allowed the debt to rise out of control and Obama saying that he inherited the policies that led to an increase in debt and deficits.

Joyce's analysis his the second Election Policy Fact Check, a new series by the School of Public Policy at the University of Maryland. The ongoing series examines the key policy issues of the presidential campaign. Joyce, a professor of management, finance and leadership, served in the Congressional Budget Office and the Illinois Bureau of the Budget and is the author of the book, The Congressional Budget Office: Honest Numbers, Power, and Policy Making

According to Joyce's analysis:

  • It's true that deficits and debt are much higher now than they were in 2009 when Obama took office. In fact, the debt accumulated far faster than the Congressional Budget Office's initial calculations. Almost $6 trillion was added to the debt in four years - something the CBO estimated would take a decade.

  • The growth of the debt is predominantly due to the continuation of many policies that predated the administration, which were, for the most part, out of Obama's control. But Obama's policies did contribute to the deficits and debt. And, while the president did appoint a deficit commission, and this commission came up with a bold reduction plan, Obama chose not to embrace its report, even though it would have given him political cover to come up with a major debt-reduction initiative.

Joyce says the main question in the context of the presidential election is whether a second Obama term would represent more of the same, or whether we could expect a bold, long-term proposal to finally put the country on a path to a more responsible fiscal policy.

"There seem to be few clues in the campaign so far that would point us to an answer to that question," Joyce says. "The public deserves to know how both candidates' plans to deal with the short-term, and also the long-term, budgetary problems faced by the country."


'/>"/>

Contact: Neil Tickner
ntickner@umd.edu
301-405-4622
University of Maryland
Source:Eurekalert

Related medicine news :

1. National survey of economists uncovers vast gender gap in policy views
2. Queens University Belfast wins national environment award
3. Canada needs national approach to protect against drug shortages
4. ACP physician wins national award for internal medicine education
5. Researchers awarded National Cancer Institute grants aimed at answering provocative questions
6. International academic publishers join Committee on Publication Ethics
7. National Hartford Centers of Gerontological Nursing Excellence awards new fellows, scholars
8. SU2C, Dutch Cancer Society announce new International Translational Cancer Research Grant recipients
9. Northwestern Medicine hosts the National Marfan Foundations Annual Conference
10. WPI to host international workshop focused on technology solutions for first responders
11. MCG student receives national medical honor society research fellowship
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/24/2017)... Charlevoix, MI (PRWEB) , ... February 24, 2017 ... ... venue in Charlevoix, once again hosted their Military Wedding Giveaway, with the ... be hosted by Castle Farms with services generously donated from local vendors: A ...
(Date:2/23/2017)... ... 23, 2017 , ... On February 22, 2017 the U.S. ... to withdraw previous guidance issued by the Obama Administration requiring schools to treat ... 2016 by the Obama Administration came in response to a growing number of ...
(Date:2/23/2017)... ... 2017 , ... The Lymphoma Research Foundation (LRF) – the ... the lymphoma community through a comprehensive series of education programs, outreach initiatives and ... Beach to host its Swirl: Miami Wine Tasting Event on March 28, 2017. ...
(Date:2/23/2017)... ... February 23, 2017 , ... The American Cleft Palate-Craniofacial Association (ACPA) is pleased ... KLS is a longtime supporter of the event. , "We are pleased that KLS ... Dr. Bob Havlik, 2017 ACPA President. "KLS Martin has a long track record of ...
(Date:2/23/2017)... Hollywood, CA (PRWEB) , ... February 23, 2017 , ... ... pleased to announce that they are sponsoring a raffle. Throughout the month of February, ... Winners will receive a gift card for a dinner for two at the Cheesecake ...
Breaking Medicine News(10 mins):
(Date:2/24/2017)... Feb. 24, 2017 Juan Monteverde , ... PC , a boutique securities firm headquartered at the ... , announces that a class action lawsuit has ...  against Inotek Pharmaceuticals Corporation (NASDAQ:  ITEK)("Inotek" or ... securities between July 23, 2015 and December 30, 2016, inclusive ...
(Date:2/24/2017)... -- Directors from Pharma To Market Pty Ltd and Ador Consulting Pte ... the founding of Pharma To Market Pte Ltd, based in ... to announce their expansion into Asia with ... The company are delighted to appoint Joelle Chia , former ... based entity. Joelle brings with her an extensive business ...
(Date:2/24/2017)... , Feb. 24, 2017  Xynomic Pharmaceuticals, Inc., an ... that it has acquired exclusive worldwide rights to ... innovative HDAC inhibitor targeting hematological and solid tumors. ... Phase 1 and 2 clinical trials of Abexinostat ... have already been completed, demonstrating that Abexinostat ...
Breaking Medicine Technology: