Economists: GOP Cites Deeply Flawed CBS Report To Blame Debt On Obama

[Unkotare]

obama is taking the liberal aversion to personal responsibility to new heights. When he is 98 years old and craps his Depends he'll wake up just long enough to mutter "Bush's fault" before falling asleep again while Michelle changes him.

 

[RetiredGySgt]

2006 Democrats win both houses of Congress...lets start there...

They didn't take office till 2007.

Which means from 2007 till 2010 the Democrats OWN the deficit. And since the Democratic controlled Senate will not pass a budget this year they own it this year too.

 

[RetiredGySgt]

Did you actually read that blog before you posted it?

What a ridiculous pile of B.S.


These guys will say anything to deflect from the truth.


And here it is...the truth...Debt to GDP Ratio...Obama vs. Bush:

​

File:Federal debt to GDP - 2000 to 2010.png - Wikipedia, the free encyclopedia

Heh ... I agree. The truth is that what are experiencing today is thanks to the Bush administration.

Bush had a Democratic controlled Congress from 2007 to 2008. He had no input on the budget. Notice how it sky rocketed AFTER the Dems came to power? Obama owns his debt because he had both Houses under his control and they did what he asked.

Pretty simple concept.

By the way? The Senate refuses to even look at House Budget proposals so this year belongs to Obama also.


See how that works?

 

[nolebrakai]

The truth is that what are experiencing today is thanks to the Bush administration.

true enough however, come 2015 we will know exactly what effect, if any Obama has taken on the economy. these things take time to understand. you cant just snap ones fingers and know.

 

[Article 15]

Bush had a Democratic controlled Congress from 2007 to 2008. He had no input on the budget.

Hold on while I go change my shorts. I just peed myself laughing at you.

 

[nolebrakai]

Congress does own the purse strings. does that mean this current tea party congress owns this economy?


I would say not really. Besides the budget fight not much else has been passed.

 

[California Girl]

Cute.... but reality bites - you have to go back further than Bush on this clusterfuck Art. You know that - you just need to be honest enough to say it.

The stupid will 'blame' Obama.

Other stupid will 'blame' Bush.

Both are wrong.... and both are right.

But partisan bullshit is so much easier than thinking.

 

[Mr. Shaman]

Brian Beutler | August 24, 2011

Only a small part of Obama's inherited shortfall came from the 2008 bank bailouts, which though large, were quickly recouped and at this point, taken in isolation, have cost the country very little. Obama more directly owns other chunks of the debt -- attributable largely to the stimulus, the tax deal and arguably his continuation of the wars. But the figures are fairly small compared to the overall debt, the vast bulk of which was baked into the cake when he took office.

Much More: Economists: GOP Cites Deeply Flawed CBS Report To Blame Debt On Obama | TPMDC

 

[Mr. Shaman]

Cute.... but reality bites - you have to go back further than Bush on this clusterfuck Art. You know that - you just need to be honest enough to say it.

The stupid will 'blame' Obama.

Other stupid will 'blame' Bush.

Yeah....right.....how could Lil' Dumbya have POSSIBLY screwed-things-up.

He was an (actual)......

...BUSINESSMAN!!

.

.

.

 

[Unkotare]

I can come home when I feel like it.

Try not to feel like it. We don't need the likes of you.

 

[Lovebears65]

I just love how the left spin things. Questin. When is it Obama fault?? He has been in office almost 3 years and added to our debt by 4 trillion. Just asked for another 2 million in a blank check when the debt ceiling got raised

 

[editec]

Every POTUS ends up owning the outcomes stemming from the actions of the previous administrations.

The VERY stupid think that the current POTUS is completely responsibile for everything that happens on his watch.


The VERY DISHONEST claim that is the case even though they know better.

I mean it is so very obvious that history plays a role in the present that one wonders how anyone could be so stupid, but there it is...they are VERY stupid.

We see examples of this kind of stupidity playing out every day on this board.'

 

[Seawytch]

I just love how the left spin things. Questin. When is it Obama fault?? He has been in office almost 3 years and added to our debt by 4 trillion. Just asked for another 2 million in a blank check when the debt ceiling got raised

So tell us EXACTLY what he did to add 4 trillion to the deficit.

 

[OohPooPahDoo]

I just love how the left spin things. Questin. When is it Obama fault?? He has been in office almost 3 years and added to our debt by 4 trillion. Just asked for another 2 million in a blank check when the debt ceiling got raised

So tell us EXACTLY what he did to add 4 trillion to the deficit.

He destroyed the economy.

 

[ClosedCaption]

Hahaha numbers. Repubs don't need no fucking numbers. The black did it all!

 

[WillowTree]

Brian Beutler | August 24, 2011

Only a small part of Obama's inherited shortfall came from the 2008 bank bailouts, which though large, were quickly recouped and at this point, taken in isolation, have cost the country very little. Obama more directly owns other chunks of the debt -- attributable largely to the stimulus, the tax deal and arguably his continuation of the wars. But the figures are fairly small compared to the overall debt, the vast bulk of which was baked into the cake when he took office.

Much More: Economists: GOP Cites Deeply Flawed CBS Report To Blame Debt On Obama | TPMDC

Tissue?

 

[Freedomlover]

Righties hate numbers. THey prefer feelings. Change the thread to "I'm an awesome-o patriot!"

Oh shit, you're right. I remember they even presented a budget with no numbers...

The Democrat controlled Senate has not passed a budget in almost two years. Talk about not having any numbers. When are they going to do the job that they are being paid for very well?

 

[Quantum Windbag]

Brian Beutler | August 24, 2011

Only a small part of Obama's inherited shortfall came from the 2008 bank bailouts, which though large, were quickly recouped and at this point, taken in isolation, have cost the country very little. Obama more directly owns other chunks of the debt -- attributable largely to the stimulus, the tax deal and arguably his continuation of the wars. But the figures are fairly small compared to the overall debt, the vast bulk of which was baked into the cake when he took office.

Much More: Economists: GOP Cites Deeply Flawed CBS Report To Blame Debt On Obama | TPMDC

Why should I believe anything that this article is saying when it contains this paragraph?

It ignores key facts about the nature of government debt. For instance the nominal size of the debt isn't important except as compared to the concurrent size of the economy -- the debt-to-GDP ratio. Additionally, if growth of debt over time is what you're interested in, then the key question is percent-growth, not nominal growth.

Why should I not be concerned with nominal growth? Is $5 trillion somehow a smaller number if we talk about it in terms of $15 trillion than if we just talk about it all by itself?

This paragraph is interesting though.

"Since the President was inaugurated, debt held by the public has increased just under $3.7 trillion (note, that in this case, using debt held by the public does not dramatically change the story - but it is the right number to use)," Horney notes.

If we use that number, how much did Bush increase the debt? Isn't it strange that economists want to say that Obama only added $3.7 trillion to the debt, but they still insist that Bush added $5 trillion? Does that mean that public debt v national debt only matters if a Democrat is president?

 

[whitehall]

CBS is always on the side of democrats. How could it be flawed?