CHART: Who Really Caused The Deficit?

[LogikAndReazon]

Funny how the R can look at that and say we should give more tax cuts to the one percent and, incredibly, cut things like Head Start and Meals On Wheels "to pay for IT".



Surely there are enough bleeding heart liberals, progressives and marxists willing to put their money where their feelings are and fully fund those programs.................

Why beg others for money to spend on every liberal whim ?

ah, those hypocrites really do "care" more..............lol

 

[Truthmatters]

because we are a democracy and vote on these things.

 

[Avorysuds]

So a chart that leaves out the majority of spending (MC/MC/SS/welfare THEN DEFENSE) is accurate on adding up the deficit how?

And you people want to be taken seriously, lol.

 

[Misty]

Sometimes you people really do just crack me I just love how so many of you seem to think the deficit started with either Bush or Obama. Both men have contributed to it but it started long before either of them were President.

You win post of the day cuz you are 100% correct.

""It all started with $75 million in loans made to the new United States of America during the Revolutionary War, and thus began the first American budget deficit. We managed to pay it back rather quickly and enjoyed several years of budget surpluses but the War of 1812 forced borrowing and once again we were back in debt—big wars tied to big deficits would be a recurring theme over the next 200 years.

*There’s a lot of blame thrown around these days, as Congressional leaders and President Obama struggle to reach a deal on raising the debt ceiling, to enable more borrowing, and chip away at a annual budget deficit that is over $14.5 trillion.*

But the tough truth is that deficits and debt are bipartisan phenomena to which almost every president, no matter their party or ideological affiliation, has contributed. The Civil War pushed the national debt into the unheard of $3 billion range; after World War I public debt was up to $25.5 billion; the New Deal and World War II resulted in one of the first sizable explosions in debt, up to $260 billion by 1950. Throw in LBJ’s Grand Society, the Vietnam War, the defense build up against the Soviet Union, wars in Iraq and Afghanistan, sweeping tax cuts and a brutal recession, and we find ourselves mired in this current mess."

The history of American debt: when did we first borrow, how did it get so out of control? | 89.3 KPCC

 

[bigrebnc1775]

Obama, Biden, Krugman and Corzine say deficits are good and stimulate the economy

Why do you hate the economy?

Didn't they also say unemployment is the fastest way to stimulate the economy?

They said unemployment stimulates the economy and the DNC said that the Dems own the economy

Unemployment benefits are creating jobs faster than practically any other program, House Speaker Nancy Pelosi said Thursday.

Talking to reporters, the House speaker was defending a jobless benefits extension against those who say it gives recipients little incentive to work. By her reasoning, those checks are helping give somebody a job.

“It injects demand into the economy,” Pelosi said, arguing that when families have money to spend it keeps the economy churning. “It creates jobs faster than almost any other initiative you can name.”

Pelosi said the aid has the “double benefit” of helping those who lost their jobs and acting as a “job creator” on the side.

 

[Truthmatters]

Reagan balloned the deficit.

Bush added to it.

Clinton gave us a budget surplus


Bush spent that surplus as soon as he could and then balloooned the deficit.


Bush also crshsed the world economy by refusing to impliment regulations.

Now Obama is cleaning up the mess from all these deficit ballooners

 

[CrusaderFrank]

Reagan balloned the deficit.

Bush added to it.

Clinton gave us a budget surplus


Bush spent that surplus as soon as he could and then balloooned the deficit.


Bush also crshsed the world economy by refusing to impliment regulations.

Now Obama is cleaning up the mess from all these deficit ballooners

Deficits stimulate the economy!

Why do you hate the economy?

 

[SniperFire]

Reagan balloned the deficit.

Reagan wanted, and presented, a balanced budget from day one. From PBS:

'In February 1981 Reagan presented the Economic Tax Recovery Act to Congress, calling for massive personal and corporate tax cuts, reductions in government spending, and a balanced budget. '

The 1982 Recession . Reagan . WGBH American Experience | PBS


Tipp O'Neill would have no part of it.

Now that you are slightly less ignorant than before you last post, you may proceed.

 

[The T]

Reagan balloned the deficit.

Bush added to it.

Clinton gave us a budget surplus


Bush spent that surplus as soon as he could and then balloooned the deficit.


Bush also crshsed the world economy by refusing to impliment regulations.

Now Obama is cleaning up the mess from all these deficit ballooners

While Obama has added an immense amount of his own 'hot air' into the same balloon...

 

[bigrebnc1775]

Reagan balloned the deficit.

Bush added to it.

Clinton gave us a budget surplus


Bush spent that surplus as soon as he could and then balloooned the deficit.


Bush also crshsed the world economy by refusing to impliment regulations.

Now Obama is cleaning up the mess from all these deficit ballooners

Reagan balloned the deficit.

What ever Reagan did worked for 25 years or so what obama is doing is not.

 

[MikeK]

I thought deficits stimulate the economy?

[...]

That is news to me. Who ever said that? Milton Friedman?

My understanding is the economy is stimulated by the circulation, rather than the hoarding, of money. And the way to circulate money is to put it in the hands of people who will spend it. This is why our periods of greatest productivity and prosperity occurred when the upper-income tax levels were highest and regulations were in place to prevent the kind of laissez-faire capitalist exploitation which has arisen since the Reagan Administration was positioned.

 

[CrusaderFrank]

I thought deficits stimulate the economy?

[...]

That is news to me. Who ever said that? Milton Friedman?

My understanding is the economy is stimulated by the circulation, rather than the hoarding, of money. And the way to circulate money is to put it in the hands of people who will spend it. This is why our periods of greatest productivity and prosperity occurred when the upper-income tax levels were highest and regulations were in place to prevent the kind of laissez-faire capitalist exploitation which has arisen since the Reagan Administration was positioned.

Paul Krugman, Barack Hussein Obama, Jon Corzine and Nancy Pelosi

Are any of those names familiar to you?

 

[Lakhota]

 

[hortysir]

You have no comprehension skills, obviously.

What? And how did you know what Cheney really meant. Link it up so I can read it from the "horses ass" so to speak. You know, where he was speaking about Reagan and how the deficits wouldn't matter to his re election effort.

If you can't provide that link, guess what that makes you.

Beside being a liar, you are dumber than a box of rocks. Me on welfare and food stamps. Are you fuking stupid? Yes you are.

Next thing you will be saying how you own this wonderful business and yet spend 15 hours a day posting up stupid shit on a message board. Seems like it may be you drawing a welfare check. Most people with a real job can't post bull shit all day like you do. They have work to do.

You know, Paul, Reagan proved that deficits don't matter. We won the mid-term elections, this is our due.

• to Paul O'Neill, then Treasury Secretary [The Price of Loyalty]

 

[bripat9643]

hmmm...as fiscal year 2009 was proposed by Bush, that doesnt look very good on his record does it?

FDsys - Browse BUDGET

ROFL! Bush's budget was thrown out the window 5 seconds after Obama was inaugurated. The "Stimulus" bill was pass early in 09 and became effective almost immediately.

 

[SniperFire]

Put Democrats in charge of the Nation's checkbook, and look what happens:


Democrats took the GOP’s last deficit of $162 Billion and ran it up to $1.4 TRILLION

9 TIMES the amount of the last GOP deficit

Republicans control Congress
2000 290 Billion SURPLUS
2001 127 Billion SURPLUS
2002 157 Billion
2003 374 Billion
2004 413 Billion
2005 319 Billion
2006 248 Billion
2007 162 Billion
Democrats control Congress as of Jan 2007
2008 455 Billion
2009 1,400 TRILLION
2010 1.300 TRILLION
2011 1,300 TRILLION

The nonpartisan Congressional Budget Office offers a prognosis: "Under the president's budget, debt held by the public would grow from $7.5 trillion (53 percent of GDP) at the end of 2009 to $20.3 trillion (90 percent of GDP) at the end of 2020." Interest payments would quadruple.'

http://www.chicagotribune.com/news/opinion/edito rials/ct-edit-buffett-20100329,0,7563220.story


Interest payments are 9% of our budget right now. Do you know what will happen when interest payments become 39% of our budget, per Obama's plan?

 

[Contumacious]

yeah that idiotitc crap will really win you votes.

Incorrect.

The ONLY crap that will really win a welfare/warfare state politician votes is

"I will do more to feed and provide you with shelter. So don't worry about anything, we are the good hands people"

.

BULLSHIT


our saftey net is in shambles you fucktard.

I know you HATE the American people and think they are all lazy fucks.

I dont hate the American peopel and think they are worth investing in.

Move if you hate us all so much

Excuse me scumbag, but there is not supposed to be a "safety net". There is no such thing as free lunch. You are supposed to work for a living until you die. or until until your Fidelity funds run out. Stop listening to welfare/warfare state politicians!!!!!!!!!!!!!!!!!

.

 

[Lakhota]

Incorrect.

The ONLY crap that will really win a welfare/warfare state politician votes is

"I will do more to feed and provide you with shelter. So don't worry about anything, we are the good hands people"

.

BULLSHIT


our saftey net is in shambles you fucktard.

I know you HATE the American people and think they are all lazy fucks.

I dont hate the American peopel and think they are worth investing in.

Move if you hate us all so much

Excuse me scumbag, but there is not supposed to be a "safety net". There is no such thing as free lunch. You are supposed to work for a living until you die. or until enough until your Fidelity funds run out. Stop listening to welfare/warfare state politicians!!!!!!!!!!!!!!!!!

.

Well, Sparky, we have laws that say differently. BTW, what would America be like without any social safety nets? The Great Depression? The Grapes of Wrath families won't just sit around and quietly starve to death. Bush really fucked us!

 

[Contumacious]

BULLSHIT


our saftey net is in shambles you fucktard.

I know you HATE the American people and think they are all lazy fucks.

I dont hate the American peopel and think they are worth investing in.

Move if you hate us all so much

Excuse me scumbag, but there is not supposed to be a "safety net". There is no such thing as free lunch. You are supposed to work for a living until you die. or until enough until your Fidelity funds run out. Stop listening to welfare/warfare state politicians!!!!!!!!!!!!!!!!!

.

Well, Sparky, we have laws that say differently. BTW, what would America be like without any social safety nets? The Great Depression? The Grapes of Wrath families won't just sit around and quietly starve to death. Bush really fucked us!

Well the powers-that-be have warned you that the social security funds were commingled with general revenue funds and now the fund is depleted.

So Dream on.

.

 

[peach174]

We have 119 Trillion dollars in unfunded entitlements.
The American people are paying 4.4 Trillion in taxes when you add Fed.,state,city and county.
The government spends 1.2 Trillion more than it takes in.

Dem's do not want to balance the budget. They want to tax more and keep the entitlements the way they are with very little cuts.That will be put on to future generations to pay off.
Republicans want to cut spending and reform entitlements.

We got both parties fighting over ideology and nothing much is getting done.
It's up to the voters this Nov. to decide with way were going to go.