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Old 11-13-2009, 12:51 PM   #1
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Default Ho Hum...what's a few more billion....?



Just read that the deficit is up to 1.7 trillion....higher than Obama's guess of 1.5 trillion. Oh well...probably all Bush's fault anyway....

Let's go watch "American Idol"!
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Old 11-13-2009, 01:16 PM   #2
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Default Re: Ho Hum...what's a few more billion....?

Nah. Its not all Bush's fault. Only $482 billion of it was his. Taking it from a $128 billion surplus left to him in 2001. Very fiscally responsible of him.

But as Brian Reidl said "you elect a Democrat President, the government grows. You elect a Republican President, the government grows."
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Old 11-13-2009, 01:21 PM   #3
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Default Re: Ho Hum...what's a few more billion....?

Ah yes, the magical mythical "Clinton Surplus."
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Old 11-13-2009, 01:25 PM   #4
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Default Re: Ho Hum...what's a few more billion....?

Even if that were true, and supposing that the outgoing administration and Congress had NOTHING to do with the $125 PROJECTED surplus (as it was never actually realized), let's do some math.

125+482 = $607 billion

Now, again, since we're being asked to hold Presidents accountable for ONLY what occurs during their watch, we have a $553 billion dollar deficit created over more than 8 years (because the surplus was projected prior to Bush taking office).

Now the deficit is 1.72 trillion. Only 10 months later.

1.72 tril minus 553 bil = 1.13 trillion dollars.

1.13 TRILLION DOLLARS. In just 10 months. And growing.

AND Obama was elected on the campaign promise to SHRINK the deficit. Shrink it.

And now, just ten months later, it's 1.13 trillion dollars bigger.
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Old 11-13-2009, 01:32 PM   #5
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Default Re: Ho Hum...what's a few more billion....?

Also, notice on the chart here (if the thing comes out), that the biggest chunk of the surplus disappearing was due to the ALREADY SLOWING ECONOMY. Then there was an income tax shift...and of course tax cuts.

Table 1
Changes in the 2001 Surplus Since April 2001
(Estimates in billions. On-budget amounts only, which exclude Social Security) 2001 surplus predicted by the Administration on April 9, 2001, based on enactment of its proposed budget policies 125
Enacted tax rebates and immediate rate cuts (beyond those proposed by the Administration) -41
Enacted shift of two weeks of corporate income tax receipts from 2001 to 2002 (included in the tax cut bill) -33
Enacted new spending vs. proposed new spending, since April -4
Economic and technical reestimates since April (largely caused by the economic slowdown) -50
Changes in accounting procedures +4
Current OMB estimate of the 2001 surplus 1


So the estimate was hugely flawed from the start.

OK, since THAT argument is dismissed, why is this deficit so high after we were promised the opposite?
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Old 11-13-2009, 02:12 PM   #6
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Default Re: Ho Hum...what's a few more billion....?

This is the Democrats response to Odumbass ruining this country...





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Old 11-14-2009, 08:01 AM   #7
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Default Re: Ho Hum...what's a few more billion....?

I find it truly fascinating that people think things would be different now with any other POTUS. Our entire financial institution is basically on a ventilator. No matter who was President right now there would be bailouts and stimulus packages. The myopic views held by some on this board(actually everywhere) amaze me.
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Old 11-14-2009, 08:40 AM   #8
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Default Re: Ho Hum...what's a few more billion....?

Quote:
Originally Posted by theplatypus View Post
I find it truly fascinating that people think things would be different now with any other POTUS. Our entire financial institution is basically on a ventilator. No matter who was President right now there would be bailouts and stimulus packages. The myopic views held by some on this board(actually everywhere) amaze me.
A) The spendulus bill (A bill which Obama signed off on while stating "This is a deeply flawed bill") was NOT imminent or inevitable. $787 billion
B) Cash for Clunkers: 3 billion
C) Some of the bank bailouts were not inevitable
D) Basically BUYING GM and Chrysler not inevitable
E) Obama budget had massive spending increases that were NOT inevitable, like $630 Billion more for healthcare (It's right there in the budget)


Blaming the previous administration is a diversion. Saying "this was inevitable" is lazy.

Worst of all, we were PROMISED that the deficit would be reduced, and now it's ballooned almost out of control.

Calling me myopic is simply deflection.
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Old 11-14-2009, 08:42 AM   #9
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Default Re: Ho Hum...what's a few more billion....?

Quote:
Originally Posted by theplatypus View Post
I find it truly fascinating that people think things would be different now with any other POTUS. Our entire financial institution is basically on a ventilator. No matter who was President right now there would be bailouts and stimulus packages. The myopic views held by some on this board(actually everywhere) amaze me.
One of the many issues I have with Obaaaaaaaaama is that he ran his campaign on a PROMISE that this country would see a "change" in the deficit and the economy shortly after he was elected. Whelp - I guess he wasn't too far off. We've seen a "change" alright, but it hasn't been for the better unfortunately.
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Old 11-14-2009, 08:49 AM   #10
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Default Re: Ho Hum...what's a few more billion....?

Quote:
Originally Posted by revefsreleets View Post
A) The spendulus bill (A bill which Obama signed off on while stating "This is a deeply flawed bill") was NOT imminent or inevitable. 787 billion
B) Cash for Clunkers: 3 billion
C) Some of the bank bailouts were not inevitable
D) Basically BUYING GM and Chrysler not inevitable
E) Obama budget had massive spending increases that were NOT inevitable


Blaming the previous administration is a diversion. Saying "this was inevitable" is lazy.

Worst of all, we were PROMISED that the deficit would be reduced, and now it's ballooned almost out of control.

And calling me myopic is simply deflection.
I placed no blame on anyone, nor did I take sides. There is nothing to deflect, my post was simply an observation. If you feel that my post was directed at you, that's your issue not mine. However, you helped prove my point by completely ignoring the TARP program in your little list.

Last edited by theplatypus; 11-14-2009 at 09:12 AM.
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