New CBO Report: Obama deficit HISTORIC!!!

[Oddball]

Ross Perot called this one 17 years ago, and all the hyperpartisans can do is point at the other guy.

How tragicomic.

 

[Xenophon]

Hey, its only money.

Barry will just print more of it.

 

[Care4all]

this budget does get credited to president bush because it began october 1st 2008.... that's just how it works.

president clinton in 2001 budget had a HUGE SURPLUS, but when bush took office he had congress pass his tax cuts which gave us all a $600 tax rebate in august of 2001, so when fiscal year 2001 ended, sept 30, 2001, Clinton DID NOT have the surplus he had projected in his budget....bush spent it through the tax credits....but guess what? 2001 budget STILL gets credited to Clinton....

 

[editec]

Hey, its only money.

Barry will just print more of it.

GOOD!

This national economy could use some inflation.

Not hyperinflation, but an increase in the specie circulating (at least equivalent to the increasing populatio's needs for it) and an increase in how quickly it's circulating, too.

 

[Oddball]

this budget does get credited to president bush because it began october 1st 2008.... that's just how it works.

president clinton in 2001 budget had a HUGE SURPLUS, but when bush took office he had congress pass his tax cuts which gave us all a $600 tax rebate in august of 2001, so when fiscal year 2001 ended, sept 30, 2001, Clinton DID NOT have the surplus he had projected in his budget....bush spent it through the tax credits....but guess what? 2001 budget STILL gets credited to Clinton....

All accurately predicted by Perot during the '92 campaign.

There's an underlying structural problem with entitlement spending that transcends the admittedly profligate spending of today.

 

[KittenKoder]

Hey, its only money.

Barry will just print more of it.

GOOD!

This national economy could use some inflation.

Not hyperinflation, but an increase in the specie circulating (at least equivalent to the increasing populatio's needs for it) and an increase in how quickly it's circulating, too.

No. Inflation is a bad thing for many reasons. Think of it this way, one dollar represents a specific item, there are a thousand items and a thousand dollars ... you print more dollars and then those have to be divided evenly for each item increasing the amount of dollars per item, but who has all those new dollars to begin with?

 

[Xenophon]

Hey, its only money.

Barry will just print more of it.

GOOD!

This national economy could use some inflation.

Not hyperinflation, but an increase in the specie circulating (at least equivalent to the increasing populatio's needs for it) and an increase in how quickly it's circulating, too.

Its only good if the goal is to start another great depression.

 

[CrusaderFrank]

Libruls are fundamentally ignorant on economics, that's the only way they come to the conclusion that:

1. FDR was Great
2. Gubbamint spending grows the economy
3. Tax Cuts are evil

 

[CrusaderFrank]

Hey, its only money.

Barry will just print more of it.

GOOD!

This national economy could use some inflation.

Not hyperinflation, but an increase in the specie circulating (at least equivalent to the increasing populatio's needs for it) and an increase in how quickly it's circulating, too.

Its only good if the goal is to start another great depression.

That happens to be Dems goal.

 

[The Rabbi]

Hey, its only money.

Barry will just print more of it.

GOOD!

This national economy could use some inflation.

Not hyperinflation, but an increase in the specie circulating (at least equivalent to the increasing populatio's needs for it) and an increase in how quickly it's circulating, too.

You do understand that "specie" means gold and silver, right? And that these do not circulate as currency, right?
We need an increase in velocity and a decrease in supply of money. That would only come with fiscal measures that would encourage businesses to invest in more workers and more capacity.
Presently the admin is doing the exact opposite. Hiring workers just got more expensive. Gimmicky one time cuts and credits do nothing to change basic behavior. There needs to be permanent tax changes.
I predict son of stimulus coming soon. The economy is still in decline and commercial real estate and banks will be the next victims.

 

[Soggy in NOLA]

And the Jews caused 9/11.. don't forget that!

 

[KittenKoder]

And the Jews caused 9/11.. don't forget that!

Can we say "Troll Alert"?

 

[WillowTree]

President Bush signed the first bailout for sure. He spent only 1/2 of it. The other half was left for obammie to spend and then he's added how much more????? how much more????? so chalk Bush up for 350 billion and the rest is obammie all the way.

 

[Zander]

Its not so much spending money but what you spend it on

If I borrow $10,000 to replace my roof it is not the same as if my neighbor George spends $10,000 for a weekend in Vegas

Borrowing money for either will do nothing to help the economy - both are non self liquidating debts.

Debt is self-liquidating when used to generate future income, from which interest is serviced and principal repaid. This is the only type of debt that grows the economy.

 

[LibocalypseNow]

Gee what took them so long to notice the obvious? Not sure i buy into the CBO anymore either. The Socialists/Communists have destroyed our nation and now it's time for them to turn on their own people the way Socialists/Communists always eventually do. "Gotta get those Evil soda drinkers & potato chip eaters now!!" The Socialists have bankrupted our nation and now they're going to begin to punish the average American Citizen for their own crimes they have committed against our nation. Time to turn on their own people now.

They're flat broke so now it's time to invent new ways to take our hard earned money. They will now begin to punish the people through excessive punitive taxation. Why should the average American Citizen be punished for something they had nothing to do with? They didn't bankrupt & weaken our nation? The corrupt & incompetent politicians did that. They didn't ask our permission to give $Trillions of our cash to corrupt corporate fat cats. They just went ahead and did it. No one consulted me on that stuff. Did they consult you? Yet we will be the ones who are punished and have to suffer. Vote out all corrupt Socialists both Democrat & Republican!! That's the only solution to our horrific problems.

 

[jillian]

This is simply a public service annoouncement for all of the k00ks who still post up information on the George Bush deficits in multiple threads.............

Please...............dont make yourself look like a k00k!!!

From your link:

The federal budget deficit tripled to a record $1.4 trillion for the 2009 fiscal year that ended last week, congressional analysts said Wednesday.

Who signed off on that budget, eh?


Hint: It wasn't President Obama...

Budget of the United States Government: Browse

lol.. he's such a loser.

 

[The Rabbi]

This is simply a public service annoouncement for all of the k00ks who still post up information on the George Bush deficits in multiple threads.............

Please...............dont make yourself look like a k00k!!!

From your link:

The federal budget deficit tripled to a record $1.4 trillion for the 2009 fiscal year that ended last week, congressional analysts said Wednesday.

Who signed off on that budget, eh?


Hint: It wasn't President Obama...

Budget of the United States Government: Browse

lol.. he's such a loser.

How's that Springsteen?

 

[Polk]

You remember? The bail out that was so crucially needed Congress was not even allowed to read it before voting on it and then Obama waited 4 DAYS to sign it cause he was off on a Vacation. Remember that one? Now subtract the 800 billion from the 1.4 trillion and what do you have? Why you have the budget Bush signed.

Then look at next years budget that Obama wants. You people are beyond fucking STUPID. Bush doubled the deficit in 8 YEARS. Obama will double it in 4 and may triple it. 50 cents on EVERY dollar the Government spends right now is BORROWED. BOOOOOSH didn't do THAT.

You're right. Bush hid the cost of spending by cooking the books and listing a lot of his big-ticket items as "emergency" spending.

 

[CrusaderFrank]

Yes, the deficit is increasing.

This is to be expected give that reveues are down and we're spendig trillions trying to stabilize it.

Bush II started us dow this path, Obama is keeping us on it.

Looks rather like this is a bipartisan (dare one say an AMERICAN?) problem to me,.

Everything was fine until the Dems got control of Congress

 

[Xenophon]

Its not so much spending money but what you spend it on

If I borrow $10,000 to replace my roof it is not the same as if my neighbor George spends $10,000 for a weekend in Vegas

Borrowing money for either will do nothing to help the economy - both are non self liquidating debts.

Debt is self-liquidating when used to generate future income, from which interest is serviced and principal repaid. This is the only type of debt that grows the economy.

If only this was better understood.

It was claimed the 'stimulous' was supposed to be this kind of debt but as it turned out (as many of us said it would) the money was not used properly and it didn't stimulate anything outside of the wallets of a few possible demopcrat voters.