NYcarbineer
Diamond Member
Weren't the Bush tax cuts supposed to increase revenues?
Adjusted for inflation, revenues peaked 5 years ago.
Adjusted for inflation, revenues peaked 5 years ago.
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But of course Obama's famous excuse in his OWN words...
On July 14 in Glenn Allen, Va., the president told a crowd, After a decade of irresponsibility, where I inherited a trillion-dollar deficit, Im ready to roll up my sleeves and get to work."
White House Says
Now it wouldn't be so bad that HE LIED "inherited a trillion-dollar deficit".. (Bush budget deficit was $482 billion
"This assertion is understandable, since the deficit jumped from about $450 billion in 2008 "
Dont Blame Obama for Bushs 2009 Deficit | Cato @ Liberty
BUT HE"S INCREASED by 2,000%
Obama did inherit, at the very least, a 900 billion dollar deficit. The last Bush deficit was about 450 billion, but tax revenues also fell by about the same amount in FY 2009, which makes for about a 900 billion dollar deficit,
that's without taking into account 2009 increases in mandatory spending programs pushed up by the Bush recession.
SO you agree TAX REVENUES FELL????
LET's see...
1) $5 trillion LOSSES due to the Dot.com busts that supposedly gave a Clinton surplus!
Do you understand that if there are long term losses IRS allows DEDUCTING these losses against tax payments.. $5 trillion over 30 years allowed $166 billion!
That means starting in 2003 there was $166 billion less in tax revenue due to the $5 trillion in losses!
2) $2 Trillion losses due oh some minor event known as 9/11!!! another $66 billion a year in loss tax revenue!
3) You may not acknowledge BUT THE WORST hurricane SEASONS (PLURAL) in history destroyed $1 trillion in losses! $33 billion a year in losses!
Then of course each of those events cost jobs!
400,000 jobs due to Hurricanes Katrina/Rita
145,000 jobs in NYC alone due to 9/11
300,000 jobs lost due to dot.com busts.
===========================
845,000 jobs meaning NO Medicare/SS payments AND unemployment checks going out!
BUT YOU seem to forget that Over $267 billion in losses written off against tax liabilities!
Your republican assholes in congress have broken all records for blocks and filibusters, there has never been a more relentlessly and irrationally hostile congress in my lifetime. blame everything on Obama if you must but effective governance cannot happen when a political party will even sabotage the economy just to make the president look bad. Do you think Obama could have done anything to get those people on his side on anything? They are even voting against stuff they used to like and calling it fucking socialism.He naively thought the republicans actually loved America would work with him a least some of the time, boy you guys sure showed him different.
So not only is he a big spender, he's an incompetent leader, too. This is something you are proud of? A President who has been unable to work and play well with others as his predecessors have?
Clinton had an even more hostile Congress! They impeached him, for chrissakes. But he still found a way to work with them and came up with a balanced budget.
You people just keep coming up with more and more lame excuses for your limp dick incompetent messiah. You wonder where his mojo went, and if it is coming back. I have bad news for you. HE NEVER HAD IT!
.
Gotta love the Republicans...
They block every initiative to help the economy and then giggle
"You didn't fix the economy like you said you would"
There has been NO Budget approved for 3 years WHY???
Senate controlled by Obama's party!
Senate/House/Executive all controlled by Democrats for two years and the prior two years the SENATE/HOUSE Democrat controlled!
AGAIN gotta figure out why people are so stupid as to think other people don't have access to the
FACTS!!!
Weren't the Bush tax cuts supposed to increase revenues?
Adjusted for inflation, revenues peaked 5 years ago.