PapaObama: King of Debt!

[CrusaderFrank]

It's only because Obama stood on the shoulders of FDR and Robert Mugabe that he was able to inflict so much permanent damage on the USA in such a short period of time. FDR set the tone and Robert Mugabe provided the personality. and mindset

Let's give it up for PapaObama (not my idea, another brilliant USMB poster coined the fitting phrase), King of the Debt and King of Deficits.

Whatever money you have left should be spent wisely: Kuggerands and ammo come to mind

National debt to be higher than White House forecast, CBO says

By Lori Montgomery
Washington Post Staff Writer
Saturday, March 6, 2010

President Obama's proposed budget would add more than $9.7 trillion to the national debt over the next decade, congressional budget analysts said Friday. Proposed tax cuts for the middle class account for nearly a third of that shortfall."

washingtonpost.com

 

[CrusaderFrank]

Maybe you guys missed it the first time,

"President Obama's proposed budget would add more than $9.7 trillion to the national debt over the next decade..."

 

[Midnight Marauder]

But.... But.... But....

All that money is NEEDED to clean up the MESS he inherited!

 

[Xenophon]

And people wonder why I oppose barry the lunatic spender.

 

[CrusaderFrank]

Reagan 1988 Budget, the entire budget was $1 trillion.

Obama's first year DEFICIT was 60% bigger than Reagan's entire budget!

 

[CrusaderFrank]

Here, wait, remember this old tune?

"Boooooooooosh debt baddd!"

 

[CrusaderFrank]

How about this old tune?

"Reagan debt baddd!"

 

[Maple]

It's only because Obama stood on the shoulders of FDR and Robert Mugabe that he was able to inflict so much permanent damage on the USA in such a short period of time. FDR set the tone and Robert Mugabe provided the personality. and mindset

Let's give it up for PapaObama (not my idea, another brilliant USMB poster coined the fitting phrase), King of the Debt and King of Deficits.

Whatever money you have left should be spent wisely: Kuggerands and ammo come to mind

National debt to be higher than White House forecast, CBO says

By Lori Montgomery
Washington Post Staff Writer
Saturday, March 6, 2010

President Obama's proposed budget would add more than $9.7 trillion to the national debt over the next decade, congressional budget analysts said Friday. Proposed tax cuts for the middle class account for nearly a third of that shortfall."

washingtonpost.com

King of the debt- is a good one, quite catching too. Anyone who thinks that they can SPEND their way to prosperity, I have to wonder about. Maybe, he needs to re-take econ 101. That spending your way to prosperity NEVER has worked out at my house.

 

[CrusaderFrank]

Reagan Debt: Bad

Obama Debt: Good

Any questions?

 

[DE3]

the tax cuts account for the entire increase in deficits that would result from Obama's proposals.

That kinda shoots the whole "tax cuts increase revenues" sham out of the water Republicans have been spewing for decades, no?

 

[CrusaderFrank]

the tax cuts account for the entire increase in deficits that would result from Obama's proposals.

That kinda shoots the whole "tax cuts increase revenues" sham out of the water Republicans have been spewing for decades, no?

Can you please explain how tax cuts hurt the economy?

 

[DE3]

the tax cuts account for the entire increase in deficits that would result from Obama's proposals.

That kinda shoots the whole "tax cuts increase revenues" sham out of the water Republicans have been spewing for decades, no?

Can you please explain how tax cuts hurt the economy?

Hurt the economy? Well they run the government into serious debt for one and that hurts the economy. That should be plently.

It would be more difficult to explain how tax cuts help the economy, because they do not. It is simply a shift. Of course one could argue that borrowing the money for a tax cut brings in more money, but every study done on the subject shows the benefit is negligible.

 

[driveby]

That kinda shoots the whole "tax cuts increase revenues" sham out of the water Republicans have been spewing for decades, no?

Can you please explain how tax cuts hurt the economy?

Hurt the economy? Well they run the government into serious debt for one and that hurts the economy. That should be plently.

Right, because the government spending too much money isn't the real problem .......

 

[DE3]

Can you please explain how tax cuts hurt the economy?

Hurt the economy? Well they run the government into serious debt for one and that hurts the economy. That should be plently.

Right, because the government spending too much money isn't the real problem .......

I didn't say that wasn't the problem.

Spending too much and then cutting taxes is flat out stupid.

The reality is that no party is willing to cut the real spending problem which is in mandatory spending. Nobody is willing to run a campaign saying they are going to cut your SS and Medicare.

 

[DE3]

Politicans love to get everyone all riled up about pork and earmarks. That means nothing. $30 billion out of a $3.8 trillion budget. Take out defense, homeland security, and veterans spending and you are left with a whopping $550 billion left in discretionary spending. That is not where the problem lies.

Since the tax cuts are the problem with the projected deficits we should probably push to make sure the tax cuts do not take place.

 

[The T]

Politicans love to get everyone all riled up about pork and earmarks. That means nothing. $30 billion out of a $3.8 trillion budget. Take out defense, homeland security, and veterans spending and you are left with a whopping $550 billion left in discretionary spending. That is not where the problem lies.

Since the tax cuts are the problem with the projected deficits we should probably push to make sure the tax cuts do not take place.

TAX CUTS are never a problem. Revenues through history have gone UP with TAX CUTS. Our own History bears this out.

The problem is SPENDING.

YOU may cease your LIE.

 

[DE3]

I never said spending wasn't an issue. Tax cuts without spending cuts to offset the loss in revenue is suicide. Somehow it has become popular Republican mantra to suggest you can keep spending, cut taxes, and everything will be okay. That is false. Cut spending, then cut taxes.

 

[CrusaderFrank]

That kinda shoots the whole "tax cuts increase revenues" sham out of the water Republicans have been spewing for decades, no?

Can you please explain how tax cuts hurt the economy?

Hurt the economy? Well they run the government into serious debt for one and that hurts the economy. That should be plently.

It would be more difficult to explain how tax cuts help the economy, because they do not. It is simply a shift. Of course one could argue that borrowing the money for a tax cut brings in more money, but every study done on the subject shows the benefit is negligible.

Tax cuts run up debt? How does that happen?

Tax cuts makes everyones stuff more valuable, people do more business, and the gubbamint collects mo' money...how does that "run up debt"?

Did you mean to say that Obama's "Stimulus Plan" runs up the debt?

 

[DE3]

Can you please explain how tax cuts hurt the economy?

Hurt the economy? Well they run the government into serious debt for one and that hurts the economy. That should be plently.

It would be more difficult to explain how tax cuts help the economy, because they do not. It is simply a shift. Of course one could argue that borrowing the money for a tax cut brings in more money, but every study done on the subject shows the benefit is negligible.

Tax cuts run up debt? How does that happen?

Tax cuts makes everyones stuff more valuable, people do more business, and the gubbamint collects mo' money...how does that "run up debt"?

Did you mean to say that Obama's "Stimulus Plan" runs up the debt?

Without spending cuts, tax cuts lower revenues to the government, which increases debt. It is pretty simple.

Tax cuts makes everyones stuff more valuable, people do more business, and the gubbamint collects mo' money...how does that "run up debt"?

How does it "make stuff more valuable"?

"people do more business" How is that?

"and the gubbamint collects mo' money"

You really think so??? The federal government historically takes 20% of GDP.

So for every dollar given back in tax cuts, that dollar would have to increase by 500%. The economy has been at an average 4-5 % increase per year for decades. How is that tax cut going to magically increase itself by 500% to make up for the lost revenue?????

It isn't.

 

[CrusaderFrank]

Hurt the economy? Well they run the government into serious debt for one and that hurts the economy. That should be plently.

It would be more difficult to explain how tax cuts help the economy, because they do not. It is simply a shift. Of course one could argue that borrowing the money for a tax cut brings in more money, but every study done on the subject shows the benefit is negligible.

Tax cuts run up debt? How does that happen?

Tax cuts makes everyones stuff more valuable, people do more business, and the gubbamint collects mo' money...how does that "run up debt"?

Did you mean to say that Obama's "Stimulus Plan" runs up the debt?

Without spending cuts, tax cuts lower revenues to the government, which increases debt. It is pretty simple.

Tax cuts makes everyones stuff more valuable, people do more business, and the gubbamint collects mo' money...how does that "run up debt"?

How does it "make stuff more valuable"?

"people do more business" How is that?

"and the gubbamint collects mo' money"

You really think so??? The federal government historically takes 20% of GDP.

So for every dollar given back in tax cuts, that dollar would have to increase by 500%. The economy has been at an average 4-5 % increase per year for decades. How is that tax cut going to magically increase itself by 500% to make up for the lost revenue?????

It isn't.

How do tax cuts make stuff more valuable? Serious?

I give up. I just totally give up.

What's the use?