Obama’s Deficit Lies Exposed in Three Easy to Read Charts

[Wehrwolfen]

Obama’s Deficit Lies Exposed in Three Easy to Read Charts​

by Jim Hoft
December 2, 2012


Throughout his first term and during the recent campaign Barack Obama blamed the Bush tax cuts for the trillion dollar deficits.

[ame=http://www.youtube.com/watch?v=jC9-YC9W4aA]President Obama : Bush tax cuts caused deficit - YouTube[/ame]

It was a lie. He knew it was a lie. The media knew it was a lie. They let him get away with it anyway.

The truth is federal revenues went up after passing the Bush tax cuts and the deficit went down.



IBD reported:

While President Obama insists the Bush tax cuts caused the recession and record deficits, his own economists say otherwise.

He might want to consult their data for the truth.

Kicking off fiscal cliff negotiations last month, Obama said: “What I’m not going to do is extend Bush tax cuts for the wealthiest 2% that we can’t afford and, according to economists, will have the least positive impact on our economy.”

During the White House press conference, he added, “If we’re going to be serious about deficit reduction, we’ve got to do it in a balanced way.”

Obama argued voters made it clear in the election that they don’t want to go back to Republican policies that “cost” the Treasury revenues and “blew up the deficit,” as he told them repeatedly during the campaign.

The Washington media by and large share these assumptions. And they’re driving the debate over what to do about the federal budget crisis before Jan. 1, when the tax cuts and spending programs are set to expire.

But the assumptions are faulty, based largely on political demagoguery rather than hard numbers — including ones certified by Obama’s own fiscal policy advisers and bean counters in the White House. . . . Based on Bush fiscal policies, the nonpartisan Congressional Budget Office projected budget deficits of 0.7% to 1.5% of GDP for the years 2008 through 2011. The CBO even predicted surpluses for the subsequent years through 2018. . . . Obama’s economic report shows that the average deficit-to-GDP ratio during the entire Bush administration — 2001 to 2009 — was 2%, which is well below the 50-year average of 3%. During the Obama years, in contrast, the same deficit ratio has averaged 9.1%.

Read more:
http://www.thegatewaypundit.com/2012/12/obamas-deficit-lies-exposed-in-three-easy-charts/

 

[Mr. H.]

Obama lies, the media lies, he runs roughshod over reason and the Constitution itself.

What else is new?

Just forget the last 4 years, ignore the next 4, bend over and take it up the ass.

 

[tyroneweaver]

what was the deficit when bush left, something like a whopping 250 billion

 

[Jroc]

Obama’s Deficit Lies Exposed in Three Easy to Read Charts​

by Jim Hoft
December 2, 2012


Throughout his first term and during the recent campaign Barack Obama blamed the Bush tax cuts for the trillion dollar deficits.

President Obama : Bush tax cuts caused deficit - YouTube

It was a lie. He knew it was a lie. The media knew it was a lie. They let him get away with it anyway.

The truth is federal revenues went up after passing the Bush tax cuts and the deficit went down.



IBD reported:

While President Obama insists the Bush tax cuts caused the recession and record deficits, his own economists say otherwise.

He might want to consult their data for the truth.

Kicking off fiscal cliff negotiations last month, Obama said: “What I’m not going to do is extend Bush tax cuts for the wealthiest 2% that we can’t afford and, according to economists, will have the least positive impact on our economy.”

During the White House press conference, he added, “If we’re going to be serious about deficit reduction, we’ve got to do it in a balanced way.”

Obama argued voters made it clear in the election that they don’t want to go back to Republican policies that “cost” the Treasury revenues and “blew up the deficit,” as he told them repeatedly during the campaign.

The Washington media by and large share these assumptions. And they’re driving the debate over what to do about the federal budget crisis before Jan. 1, when the tax cuts and spending programs are set to expire.

But the assumptions are faulty, based largely on political demagoguery rather than hard numbers — including ones certified by Obama’s own fiscal policy advisers and bean counters in the White House. . . . Based on Bush fiscal policies, the nonpartisan Congressional Budget Office projected budget deficits of 0.7% to 1.5% of GDP for the years 2008 through 2011. The CBO even predicted surpluses for the subsequent years through 2018. . . . Obama’s economic report shows that the average deficit-to-GDP ratio during the entire Bush administration — 2001 to 2009 — was 2%, which is well below the 50-year average of 3%. During the Obama years, in contrast, the same deficit ratio has averaged 9.1%.

Read more:
http://www.thegatewaypundit.com/2012/12/obamas-deficit-lies-exposed-in-three-easy-charts/

Make it easier for them, post the charts. Obama's an accomplished professional liar

 

[Mr. H.]

He's black. 'nuff sed.

That was his ticket to the white house. And the next 4 years.

 

[OKTexas]

Facts, we don't do facts here. All we need is Maobama to tell us the facts, just ask any faithful Maobama-bot-zombie.

 

[ilia25]

.
The truth is federal revenues went up after passing the Bush tax cuts and the deficit went down.

But that is only half of the truth.

The other half is that
1) Deficits always shrink and revenues go up as the economy recovers from a slump. Bush tax cuts had nothing to do with all that.
2) Bush tax cuts, however, left the revenues depressed, so the deficits remained even after the economy had fully recovered. If not for the cuts, we would have surpluses in the years before 2008.

Therefore, Obama was absolutely right blaming the deficits on Bush cuts as well.

 

[NYcarbineer]

You idiots can start as many threads as you want telling this lie but it's not going to magically become true.

Adjusted for inflation,

Revenues in 2000 were 2.3 trillion dollars.

In the 8 years Bush was president, revenues only exceeded 2.3 trillion dollars twice. Two out of eight.

In fact, if you add in the four years of Obama, during which the Bush tax cuts have continued to be in effect,

it's 2 out of 12 years that revenues under the Bush tax cuts have exceeded 2000 revenues.

Stop with the nonsense.

Historical Federal Receipt and Outlay Summary