Deficits With And Without The Iraq War

[uscitizen]

And here we have your proof - it's SPECULATION.

The CBO estimates assume that 75,000 troops will remain in both countries through 2017, including roughly 50,000 in Iraq. That is a "very speculative" projection, though it's not entirely unreasonable, said Loren Thompson, a defense analyst at the non-partisan Lexington Institute.

As of Sept. 30, the two wars have cost $604 billion, the CBO says. Adjusted for inflation, that is higher than the costs of the Korea and Vietnam conflicts, according to the Washington-based Center for Strategic and Budgetary Assessments.


The figures in the graph in the OP are as of 2010. Please learn to read for comprehension.

ahh yes the same specualtion used in the projected Obama defecit charts that are so popular among the right.

Can you tell the difference between 2010 and 2017?

sure but can you?

 

[boedicca]

How many more people have lost their jobs since he took office?

His policies have prolonged a moribund economy which should be experiencing GDP growth of over 6% instead of the paltry 1-2% to which we have declined. The only reason why unemployment is not over 10% is because 1.1M more people have given up looking for work since April.

That's what Obamanomics has accomplished.

 

[boedicca]

ahh yes the same specualtion used in the projected Obama defecit charts that are so popular among the right.

Can you tell the difference between 2010 and 2017?

sure but can you?

Yes I can! The chart in my OP was for a series of years ending in 2010. It did not include the timeframe of 2011 through 2017, something you clearly do not grok.

 

[Conspiracist]

It wasn't just the wars that Bush fucked us with. it was also a 1.2T monstrosity known as pharmasubsi...err...I mean Medicare Part D.

And a vast expansion of farm subsidies.

And a tax cut that was supposed to refund the "surplus" that disappeared right after he took office.

....

You missed the difference between 2008 and 2009?

 

[8537]

It wasn't just the wars that Bush fucked us with. it was also a 1.2T monstrosity known as pharmasubsi...err...I mean Medicare Part D.

And a vast expansion of farm subsidies.

And a tax cut that was supposed to refund the "surplus" that disappeared right after he took office.

....

You missed the difference between 2008 and 2009?

The difference between Bush's last two budgets?

 

[8537]

His policies have prolonged a moribund economy which should be experiencing GDP growth of over 6% instead of the paltry 1-2% to which we have declined.

Huh? In what alternate model can we see a 13% turn around in GDP? What is the origin of this figure, other than rightwing radio?

 

[boedicca]

If we continue spending money like this, we're not going to correct the GDP ratio issue:

To appreciate the magnitude of this spending blowout, compare CBO's budget "baseline" estimate in January 2008 with the baseline it released Thursday. The baseline predicts future spending based on the law at the time. As the nearby chart shows, in a mere 31 months Congress has added more than $4.4 trillion to the 10-year spending baseline. The 2008 and 2009 numbers are actual spending, the others are estimates. As recently as 2005, total federal spending was only $2.47 trillion.
[1spending]

Keep that $4.4 trillion in mind the next time you hear Mr. Obama or Speaker Nancy Pelosi say they "inherited" this budget mess. Let's assume the recession that Mr. Obama inherited—Mrs. Pelosi was already in power—was responsible for causing $1 trillion or so in deficit spending. That still doesn't explain why the annual deficit of roughly $1.4 trillion will be nearly as high in fiscal 2010, after a year of economic growth, as it was in 2009. Or why CBO says the deficit will still be nearly $1.1 trillion in 2011 even if all of the Bush-era tax cuts are repealed.

Review & Outlook: $4.4 Trillion - WSJ.com

 

[8537]

Yeah, the CBO certainly blew the spending estimates in 2008...before the financial sector collapsed and billions of expenses related to TARP, fiscal stimulus and automatic stabilizers were therefore missed.

 

[uscitizen]

Ahh another one of those projected spending things.


Don't get me wrong I an against excessive spending, which meand spending more than you take in. But the only difference in the 2 parties is tax and spend or just spend.
which one seems to promote excessive spending?

 

[NYcarbineer]

Wars, Medicare Part D , taxcuts with spending increases, a lot of things were going on to add to the deficit.

But none of them nearly as much as the insane spending binge by Obama&Co.

Current deficits are far more impacted by a decline in tax revenues than an any increases in spending.

Tax revenues were way down in 2009.

 

[NYcarbineer]

Show me a plan that will cut spending, lower taxes, balance the budget, and not cost any jobs.

 

[boedicca]

Uh, the chart is for SPENDING. The decline in tax receipts impacts the deficit, FO SHIZZLE. But the real issue is that SPENDING IS OUT OF CONTROL.

There is no justification for such large absolute dollar increases in a moribund economy with low inflation.

 

[8537]

Uh, the chart is for SPENDING.

Indeed! and like all modern economies, our government spends more money when the economy is in recession.

There is no justification for such large absolute dollar increases in a moribund economy with low inflation.

The justification is built in - it's the automatic stabilizers + programs to help offset the impact of a "moribund economy with low inflation".

 

[uscitizen]

Show me a plan that will cut spending, lower taxes, balance the budget, and not cost any jobs.

there isn't any such critter. That is a big part of the corner we are in.
Public sector job growth outpaced pirvate sector ones by at least 2 to 1 in the last decade.

psst Obama has not been president that long.
but I am sure that it is still his fault

 

[Zona]

It wasn't just the wars that Bush fucked us with. it was also a 1.2T monstrosity known as pharmasubsi...err...I mean Medicare Part D.

And a vast expansion of farm subsidies.

And a tax cut that was supposed to refund the "surplus" that disappeared right after he took office.

....

Wow, end the thread. ..lol

 

[boedicca]

No. Let's keep it going.