The deficit is largely a product of tax cuts and wars.

5 Facts You Need to Know for Tonight's Presidential Debate by Annie-Rose Strasser


From this article, this chart:

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How Propagandists for the 1% Are Manipulating Christian Teachings to Rob the Middle Class By Michael Meurer

"In the US, the inexorable logic of this process is embedded in the numbers that comprise the national debt. By most estimates, the national debt is at least $15 trillion.

Here is one way to understand where the money went.

-- The US government spent $7.4 trillion on bank bailouts.

-- It then spent $5 trillion for three elective wars in Iraq, Afghanistan and Libya.

-- It simultaneously incurred $2.8 trillion in lost revenue due to the Bush tax cuts for the top income brackets. "

America RIP by PAUL CRAIG ROBERTS

"The lack of jobs, especially high value-added, high productivity jobs, is the reason real median household income has declined and the distribution of income has worsened. Without rising real household income, there cannot be a consumer economy.

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I have told this story many times. But policymakers, the media, and economists seem unable to connect the dots.

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Walsh is correct that China is not to blame for the decline in US manufacturing. Offshoring is to blame, and, thus, the blame lies with US corporations, policymakers, and the economists and financial media who shill for “globalism.” The decision was made to sacrifice the US economy to the short-term profits of the few. A country so poorly led can do nothing but decline."

Bill