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:6/27/2016)... ... June 27, 2016 , ... "FCPX editors can now reveal their media with ... X," said Christina Austin - CEO of Pixel Film Studios. , ProSlice Color ... users can now reveal the media of their split screens with growing colorful ...
(Date:6/27/2016)... ... June 27, 2016 , ... ... patient payment industry today announced its strategic partnership with Connance, a healthcare ... , The two companies’ proven, proprietary technology combine to provide health systems, ...
(Date:6/27/2016)... Park, KS (PRWEB) , ... June 27, 2016 , ... ... in retailers of Eyeglasses . , Millions of individuals in the United States ... eyeglasses have become a way to both correct vision and make a fashion statement. ...
(Date:6/26/2016)... Battle Creek, Michigan (PRWEB) , ... June 26, 2016 , ... ... abuse, joined as sponsor of the 2016 Cereal Festival and World’s Longest Breakfast Table ... held in honor of the city’s history as home to some of the world’s ...
(Date:6/26/2016)... ... ... PawPaws brand pet supplements owned by Whole Health Supply is ... of felines. The formula is all-natural and is made from Chinese herbs that have ... Kidney Support Supplement Soft Chews are Astragalus Root Extract and Rehmannia Root Extract ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016 ... appointment of Dr. Edward Futcher to ... Director, effective June 23, 2016.Dr. Futcher was also ... and Governance Committees.  As a non-executive member of ... expertise and strategic counsel to VolitionRx in connection ...
(Date:6/23/2016)... June 23, 2016 Research and ... Excipients Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), ... Topical, Coating, Parenteral) - Global Forecast to 2021" ... The global pharmaceutical excipients market is projected ... CAGR of 6.1% in the forecast period 2016 to ...
(Date:6/23/2016)... 23, 2016 Research and Markets has ... 52" report to their offering. ... creates a favourable commercial environment for MedImmune to enter. The ... that will serve to drive considerable growth for effective anti-influenza ... to cap sales considerably, but development is still in its ...
Breaking Medicine Technology: