The historical chart of the US deficit clearly shows where the current deficit problem came from and when it started.. Yep your right Regan/Bush started the climb with tax cuts and unfunded wars... Clinton came in and lowered it a bit..Then Bush 2 had a whack at in and once again tax cuts and unfunded wars led the charge up the ladder..and Yes Obama continued the rise and I will take credit for that with a caveat . The economic problems left by the housing bust had the economy on the brink of depression and Obama floated a package to try and save it.. but because a lot of it was tax cuts it was just enough to slow the fall...There may be lots more out there because of bank bailouts that are not on the books.
Now look at chart 2 wages,benefits and productivity.. Wages and benefits have remained virtually flat while productivity shot thru the roof.. normally with a rise in productivity wages and benefits would rise but not for the last 40 years.
Now look at chart 1 Corporate Productivity..except for a violent downturn during the housing crash the productivity has shot way up.. several factor contributed to this rise.. robots and laying off workers and outsourcing compete factories .
In summary : here we sit at 22% unemployment, wages and benefits flat for almost 40 years, real inflation thru the roof, corporate profits at all time highs. 46000 factories closed.. A middle class well on the way to destruction. Recent college grads without jobs. Generations of workers out of work with a slim chance of ever working again... All time high folks on unemployment, food stamps and welfare. Half of homeowners underwater on their mortgages. Credit card debt and student loans thur the roof.. Suffering all around us..While corporations and the rich are wealthier than ever..Not a formula for future success..
While the candidates of both parties talk of austerity programs, large budget cuts mostly from social program and even two use to be sacred cows Medicare and Social Security on the chopping block...
Meantime we haggle for days on a definition of rape. While meaningless adds full of lies , half truths, and name calling by both sides and we sit out here either lapping it up or switching it off...
Providing me with the only good reason to be 75, I have lived in the best of times, times that will not be seen for quite awhile if ever.