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:5/28/2016)... , ... May 28, 2016 , ... SuperCloset is proud ... too well the day to day issues, struggles and obstacles veterans’ need to overcome ... Veterans Grow Project provides active or retired military veteran(s) with a donated SuperCloset product ...
(Date:5/28/2016)... ... May 28, 2016 , ... In a part of the city where’s it’s easy to spot ... Kelowna restaurants is hoping to attract diners with a taste for real food. ... opened the doors to Cornerstone Grill, an urban casual restaurant focusing on dishes made by ...
(Date:5/27/2016)... New Hampshire (PRWEB) , ... May 27, 2016 , ... ... skin care products, announced today that it has been recognized as one of the ... entering parenthood. Badger was named as one of nine small businesses providing progressive benefits ...
(Date:5/27/2016)... ... May 27, 2016 , ... An educational campaign aimed at ... stories, courtesy of awareness-driven celebrities and thought leaders. It also provides insight to ... industry leaders such as Bioness. , As patients feel increasingly concerned about ...
(Date:5/27/2016)... (PRWEB) , ... May 27, 2016 , ... Aimed at ... human interest stories, which come courtesy of leaders in the nursing and health care ... from leading advocates and associations—namely Abilene Christian University. , As the nursing industry ...
Breaking Medicine News(10 mins):
(Date:5/25/2016)... HILDEN , Deutschland und GERMANTOWN, ... Zusammenarbeit mit Therawis bedient ... Entscheidungen bei Brustkrebs   QIAGEN N.V. ... QIA) gab heute bekannt, eine Lizenz- und Entwicklungsvereinbarung ... prädiktiver Assays für die Onkologie eingegangen zu sein. ...
(Date:5/25/2016)... As illustrated by the Spring ... the numbers and momentum of cannabis in the US ... billions, more research and development push the sector forward. ... Legal Marijuana Markets Report  from from ArcView Market Research ... the increase in sector is attributed to adult use ...
(Date:5/25/2016)... 25, 2016 ReportsnReports.com adds ... report that provides an overview on therapeutic pipeline ... various stages, therapeutics assessment by drug target, mechanism ... molecule type, along with latest updates, and featured ... players involved in the therapeutic development for Chronic ...
Breaking Medicine Technology: