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revefsreleets
08-22-2009, 07:54 AM
The good news? Obama's 2009 deficit will "ONLY" be 1.6 trillion (4 X what it took GW 8 years to accumulate). The bad news? The 2010-2019 deficit has been revised and will now be 9 TRILLION dollars.

Bu-bu-bu-Bush indeed...

By the way, didn't (cough cough) some people here tell us that these deficit numbers were all just false panic created by an Obama hating lynch mob, and that the math was all fuzzy? Interestingly enough, these figures below were released officially by the White House...

http://www.ohio.com/news/nation/54073882.html

Federal deficit to be bigger White House officials add $2 trillion to figure, citing slumping revenue
Published on Saturday, Aug 22, 2009


Associated Press
WASHINGTON: The Obama administration expects the federal deficit over the next decade to be $2 trillion bigger than previously estimated, White House officials said Friday, a setback for a president already facing a Congress and public wary over spending.
The new projection, to be announced Tuesday, is for a cumulative 2010-19 deficit of $9 trillion instead of the $7 trillion previously estimated. The new figure reflects slumping revenue from a worse economic picture than was expected earlier this year. The officials spoke on condition of anonymity ahead of next week's announcement.
Ten-year forecasts are volatile figures subject to change over time. But the higher number will probably create political difficulties for President Barack Obama in Congress and could create anxiety with foreign buyers of U.S. debt.
Earlier this week, the White House revealed that it expects a budget deficit for the fiscal year ending Sept. 30 to be nearly $1.6 trillion. That figure was lower than initially projected because the White House scratched out $250 billion that it had initially added to the budget as a bank rescue contingency. The administration ultimately did not ask Congress for that money.
Still, that number — together with the 10-year projection — represents a huge obstacle for the president.
Economists predict a slow recovery from the recession, further testing Obama's goal of cutting the deficit to $512 billion in 2013. Even as he seeks higher revenues to pay for new climate change and health care measures, the president could face pressure to increase revenues or make deep spending cuts to tame the deficit.

PisnNapalm
08-22-2009, 09:02 AM
Awe cripes... *finger* to Uncle O and his mob.

Godfather
08-22-2009, 09:17 AM
Now THIS is a failed Bush policy I wish he wouldn't repeat.

stillers4me
08-22-2009, 09:22 AM
Wow. Kinda makes you wish for the good ole days of the Bush adminstration. :toofunny:

MACH1
08-22-2009, 12:57 PM
Wow. Kinda makes you wish for the good ole days of the Bush adminstration. :toofunny:

I was thinking the good ole days of Jimmy Carter.

hindes204
08-22-2009, 01:06 PM
Bu Bu Bu Bu Bush............................cmon libs, defend this one. This is not good for the administration. Lots of people have been asking all along, where is all of this money for these huge programs going to come from. This is a debt that will ultimately bankrupt America..........................................n ot good

SteelCityMan786
08-22-2009, 01:12 PM
Bu Bu Bu Bu Bush............................cmon libs, defend this one. This is not good for the administration. Lots of people have been asking all along, where is all of this money for these huge programs going to come from. This is a debt that will ultimately bankrupt America..........................................n ot good

This is one of many moves that will make Americans want to give Dems a nice kick in the hiney.

tony hipchest
08-22-2009, 02:10 PM
ho hum. this again? :coffee: speaking of "fuzzy math" youve pretty much backed the notion that obama was racking up an 18 trillion dollar deficit by '19.

(from the above posted article- Ten-year forecasts are volatile figures subject to change over time. )

you have posted the"real" and "actual" number at 12 trillion.

then you started a thread saying 10 trillion.

then you lowered your estimate to 9.3 trillion.

looks like your flavor of the week guestimate number you are hitching your wagon to is 9 trillion now. :rolleyes:

on the pace you are on, in 4 years you will be posting we have a surplus. :willy:

either way, theres nothing new here. just another thread of redundancy that assumes everybody else forgets all the bs that has been posted in the past.

:bump: - bump works.

I also wasn't aware Bush was President in 2009.

http://www.mercatus.org/uploadedImages/Mercatus/Publications/DeRugy_GWB_Figure2_FederalBudgetAnnualGrowth.JPG

atleast you learned that the deficit in 09 is result of bush's budget.

SSDD its just spun a million ways.




it is mind numbing the right wing propoganda some people believe. couple that with the supposed $9 trillion deficit, and obama is blamed for pissing away $18,000,000,000,000 in 100 days (which is humanly impossible).

:shake01:

http://forums.steelersfever.com/showthread.php?t=35872&highlight=deficit&page=2

MACH1
08-22-2009, 02:20 PM
http://rlv.zcache.com/obama_math_tshirt-p235347662552888335qdwl_400.jpg

tony hipchest
08-22-2009, 02:43 PM
http://i132.photobucket.com/albums/q23/shortyshane_2006/einsteinshowphp.jpg

201- spend trillions. create deficit. line wall street buddies pockets.

X-Terminator
08-22-2009, 03:15 PM
Can we at least agree that these kinds of deficits are much more harmful than good for this country in the long-term? All of this "he said, she said" BS is getting a bit tiresome. I'm not interested in who ran up what. I'm interested in what is going to be done to fix this problem before the country goes bankrupt.

tony hipchest
08-22-2009, 03:22 PM
it depends.... can we agree that current deficit amounts were inherited and destined to continue to grow regardless of who was electd president?

social security
medicare/medicaid
wars
recession

3-4 presidents down the pike will still be dealing with this mess regardless of whether obama or mccain were elected.

that is the reality of the situation we live in. being in debt is never good. but it is the american way. it is the backbone of our financial institution and is the heartbeat of capitalism.

X-Terminator
08-22-2009, 03:34 PM
it depends.... can we agree that current deficit amounts were inherited and destined to continue to grow regardless of who was electd president?

social security
medicare/medicaid
wars
recession

3-4 presidents down the pike will still be dealing with this mess regardless of whether obama or mccain were elected.

that is the reality of the situation we live in. being in debt is never good. but it is the american way. it is the backbone of our financial institution and is the heartbeat of capitalism.

Well then, it sounds to me like there are going to have to be some very unpopular decisions that will have to be made regarding spending, because the other way - massive tax increases - isn't going to be an acceptable one to the majority of the people. The question is who has the balls to do it? Obama apparently doesn't. Not sure if McCain would have, and if he did, would it have made a dent? Who knows. The bottom line is we need a President who doesn't give a shyt about "opinion polls" and will just do whatever he needs to do to keep the nation's economy robust and deficits to a minimum/eliminated. Unfortunately, that person does not exist, at least not now.

MasterOfPuppets
08-22-2009, 03:37 PM
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tony hipchest
08-22-2009, 04:12 PM
Well then, it sounds to me like there are going to have to be some very unpopular decisions that will have to be made regarding spending, because the other way - massive tax increases - isn't going to be an acceptable one to the majority of the people. The question is who has the balls to do it? Obama apparently doesn't. Not sure if McCain would have, and if he did, would it have made a dent? Who knows. The bottom line is we need a President who doesn't give a shyt about "opinion polls" and will just do whatever he needs to do to keep the nation's economy robust and deficits to a minimum/eliminated. Unfortunately, that person does not exist, at least not now.
a president who doesnt give a shit about opinion polls will not get elected, because they are about the same as the nov. electorate polls.

here is the situation we are in. america has been driving around in a rolls royce that is the reward of prosperous times. however that royce has been purchased on credit, and now we find ourselves overextended.

america WILL NOT give up the royce (which is a metaphor for our financial system and economy), but we still need to cut costs.

we can ignore spending 50 cents to air up the tires, but then fuel efficiency will decline and cost us more in the long run.

we would forgo the oil change, but it may break down.

we can refuse to put gas in it, and have a beautiful car that sits in the garage.

we can ignore regularly scheduled maintenance, and watch it turn into a broken down piece of crap 10 years before it should.

obama is currently driving the car. in 4-8 years it will be somebody else.

there will be a new face, but the car and the cost of upkeep will remain the same.

MasterOfPuppets
08-22-2009, 04:28 PM
only now rolls royce are chinese made.....:laughing:

Preacher
08-22-2009, 04:47 PM
it depends.... can we agree that current deficit amounts were inherited and destined to continue to grow regardless of who was electd president?

social security
medicare/medicaid
wars
recession

3-4 presidents down the pike will still be dealing with this mess regardless of whether obama or mccain were elected.

that is the reality of the situation we live in. being in debt is never good. but it is the american way. it is the backbone of our financial institution and is the heartbeat of capitalism.

And that depends, can you agree that the previous president inherited amounts and things which were destined to come to pass because of previous decisions... and thus, most of the actions would have to have been taken at some time?

The 2001 recession, dot.com busts, corporate fraud, 9-11, etc. etc. were all issues that were planned and/or came about for the most part from the Clinton administration.

Yet, 9-11 came about because of the reaction and politics dealing with the first Gulf War under Bush 41. The dot.com bust came about because of a supercharged economy and overly fast computer development and internet explosion that can be somewhat related to Reagan's cut in corporate taxes and the availablity of R&D money, not to mention the defense spending.

However, that defense spending came about to rebuild a depleted military under Nixon, Ford and carter, blah blah blah.

Or are we going to look at a calendar, and say everything that happened during one administration's time period is that administrations fault. Because if we do that, then I lay this WHOLE MESS at Obama's feet.

tony hipchest
08-22-2009, 05:12 PM
Or are we going to look at a calendar, and say everything that happened during one administration's time period is that administrations fault. Because if we do that, then I lay this WHOLE MESS at Obama's feet.join the crowd. who is this "we" you speak of? because its already what the vast majority of SF members who post in this forum already do. and if anyone says otherwise... (kinda like what you correctly surmised above) it is met with a chorus of "bu..bu..bu.. bush". :hunch:

its not suprising. another trait of modern america is to deflect responsibility rather than to accept it.

revefsreleets
08-22-2009, 08:05 PM
Obama passed several spendulus-type bills...he even called one of them "Deeply flowed" then turned around and signed it anyway. I'm not sure how that could be anyone's fault but his own, but...

He's not cutting spending in a time of trouble, he's mortgaging our future by trying to spend his way out of it and damning the consequences. Next up will be a healthcare bill that will make these numbers WORSE, not better. MY number of 12 -19 trillion has not been recognized yet because this idiot in the WH (along with the twits in congress) has not STOPPED SPENDING YET!

All the speeches are nice and they create cute little diversions from the awful truth, but we are heading towards unsustainable debt, and THIS President is responsible for it. Why? Because he promised to undo the mistakes of the past, and he promised to BALANCE THE BUDGET! Showing a chart of projected 2009 deficits is great ammo for this because Obama should have gone in and fixed that right away as promised. Instead that red line got a LOT longer.

So he either lied to get elected or he simply has no understanding of how the country works, got in office and decided that he'd just put the problem on a credit card with a 30% interest rate.

I'm weary of it all, and I'm sick and tired of his supporters blaming anybody and everybody BUT their boy...the last post is remarkable because Tony claims that Americans don't accept responsibility and chides them for it after a long series of posts where he blames everybody BUT Obama for Obama's mistakes.

Oh, and we just HAD a president who didn't give a shit about opinion polls. His name Was George Bush.