Policies, debt and deficits, the Liberal lie that keeps on giving

Discussion in 'Politics' started by JRK, Apr 26, 2012.

  1. JRK
    Offline

    JRK Senior Member

    Joined:
    Feb 27, 2011
    Messages:
    7,488
    Thanks Received:
    312
    Trophy Points:
    48
    Ratings:
    +312
    In 2007 we spent 2.7 trillion and had revenues of 2.54 trillion
    In 2010 we spent 3.7 trillion and had revenues of 2.3 trillion

    2010 United States federal budget - Wikipedia, the free encyclopedia
    2007 United States federal budget - Wikipedia, the free encyclopedia

    Cumulative debt has only a small portion added from year to year policy debt until 2009
    A year in which we added 2.5 trillion to our accumulation of debt
    Over 50% of that was BHO due to massive revenue loss as well as adding 350-400 billion in spending
    Now to blame him or GWB in the bubble would be un fair
    To blame GWB in the addition of 1 trillion dollars in spending or the GOP (the 07 budget was there last budget) would be a lie

    This Washington post graph speaks volumes
    The Truth about Obama's Budget Deficits, in Pictures

    Also let us not forget that from 1995 thru 2007 with the exception of 01-02 senate, the GOP had congress and during this time policy added a little over 1 trillion dollars, by policy as well each individual budget by the year with surpluses in the late 90s up until 9-11
    As far as the over all debt, well that's a much different story that the left seems to think somehow It is the GOPS fault and not interest (until 2007)


    09/29/1995 4,973,982,900,709.39
    Government - Historical Debt Outstanding - Annual 2000 - 2010
    09/30/2007 9,007,653,372,262.48

    That is 4 trillion dollars or 4 times the debt the GOP actually added during that time, with BC as our president from 95-01


    Now it is obvious the bubble had 50% to do with the 08 (actually 09) thru present day debt
    But unlike the previous 12 years (95-07) spending has played a huge part in this rapid increase of debt and deficits year to year
    (09-present) debt
    09/30/2010 13,561,623,030,891.79
    09/30/2009 11,909,829,003,511.75
    09/30/2008 10,024,724,896,912.49

    We are getting close to 15 trillion now

    The one thing the Liberals cannot explain is if policies from the GOP caused this, then why is in 2007 with a real 5% UE rate we where within 163 billion of a balanced budget with 150,000 troops in Iraq?
    BHO added 1 trillion dollars from 07-2010, a year in which we had 1/3 the cost in Iraq, if not less (a constitutional mandate, to defend this country)

    BHO inherited a 3 trillion dollar budget, he immediately added 350-400 billion in weeks to that and another 400 to 450 billion the following year and has done little to spur any real job growth (revenue loss)
     
  2. Avorysuds
    Offline

    Avorysuds Gold Member

    Joined:
    Jul 4, 2010
    Messages:
    13,834
    Thanks Received:
    1,655
    Trophy Points:
    245
    Location:
    Eugene Oregon
    Ratings:
    +2,141
    I think you are lacking context.

    They both look like theyr grew the deficit to me... Bush had a massibe bubble that got him more money in taxes, but it couldn't last.

    Bush started TARP and did stimulus as well, it's not like there is "liberal policy" and then "consservative policy." There is only "Liberal policy" even under the Republicans.
     
    Last edited: Apr 26, 2012
  3. JRK
    Offline

    JRK Senior Member

    Joined:
    Feb 27, 2011
    Messages:
    7,488
    Thanks Received:
    312
    Trophy Points:
    48
    Ratings:
    +312
    No doubt that 5% UE rates are what is needed to balance our budgets
    The housing bubble did much to help with that number.
    It bursting has everything to do with greed, and little to do with policy

    A murderer has laws that are in place to prevent murder. Another item that we will never know is what other policy would have been put in place if the post 9-11 economy had not responded to the feds policy on interest rates? and would the bubble have ever busted of rates would have remains at those historic levels?

    Spending is what is killing us as well as no real job growth
    you cannot jack up spending 1 trillion dollars in 12 months without throwing the whole system out of whack
    Then add we are close to 6 million jobs fewer than 08, and oh boy the wheels have came off
    My issue is the "Bush doubled the debt" when in reality interest on the accumulation of debt doubled it

    BHO should have been laser focused on 3 things
    spending
    Helping those who were going to be long termed UE (which he did do that)
    JOBS
    from drill baby drill to natural gas power, to Nuclear
    Refineries, new ones, pipe lines
    These are the things that We never really went after when W as in the white house as we did not think we had a job creation issue until it was to late
     
  4. Avorysuds
    Offline

    Avorysuds Gold Member

    Joined:
    Jul 4, 2010
    Messages:
    13,834
    Thanks Received:
    1,655
    Trophy Points:
    245
    Location:
    Eugene Oregon
    Ratings:
    +2,141
    The issue of the day is Obama offers no spending cuts and neither does Mitt... They both spend more.
     
  5. JRK
    Offline

    JRK Senior Member

    Joined:
    Feb 27, 2011
    Messages:
    7,488
    Thanks Received:
    312
    Trophy Points:
    48
    Ratings:
    +312
    The GOP house actually cut spending by 400 billion from 10-11 form a bugeted stand point
    Through Continuing resolution - Wikipedia, the free encyclopedia this got missed by the main stream media

    President Barack Obama proposed his 2011 budget during February 2010. He has indicated that jobs, health care, clean energy, education, and infrastructure will be priorities. Total requested spending is $3.83 trillion and the federal deficit is forecast to be $1.56 trillion in 2010 and $1.27 trillion in 2011. Total debt is budgeted to increase from $11.9 trillion in FY2009, to $13.8 trillion in FY2010, and $15.1 trillion in FY2011.[6][7]
    2011 United States federal budget - Wikipedia, the free encyclopedia
     
  6. eflatminor
    Offline

    eflatminor Classical Liberal

    Joined:
    May 24, 2011
    Messages:
    9,243
    Thanks Received:
    1,399
    Trophy Points:
    245
    Ratings:
    +2,049
    $15,686,623,000,000...and rising FAST.
     
  7. JRK
    Offline

    JRK Senior Member

    Joined:
    Feb 27, 2011
    Messages:
    7,488
    Thanks Received:
    312
    Trophy Points:
    48
    Ratings:
    +312
    oops
    close to 16 trillion
     
  8. eflatminor
    Offline

    eflatminor Classical Liberal

    Joined:
    May 24, 2011
    Messages:
    9,243
    Thanks Received:
    1,399
    Trophy Points:
    245
    Ratings:
    +2,049
    In the 31 minutes between my post and your response, the debt increased to $15,686,696,000,000. That's $73 million more debt in half an hour.

    Just beautiful central planners, way to go.
     
  9. Clementine
    Offline

    Clementine Platinum Member Supporting Member

    Joined:
    Dec 18, 2011
    Messages:
    10,575
    Thanks Received:
    3,886
    Trophy Points:
    350
    Ratings:
    +8,727
    And no budget passed again this year. This way they can just spend without worrying about having a cap. They'll raise the debt ceiling again, no doubt.

    I don't care how much Georgie spent. Obama bitched about that and now he's topping him. If Obamacare isn't shot down, this will look like chump change.
     
  10. JRK
    Offline

    JRK Senior Member

    Joined:
    Feb 27, 2011
    Messages:
    7,488
    Thanks Received:
    312
    Trophy Points:
    48
    Ratings:
    +312
    Thru 2008 we had a fighting chance
    We have got to get the job market up an running, but it will do us no good if we do not get this spending under control

    Every-one rested on the bubble we had through the end of 2007, and why not?
    the ratings agencies had every thing looking sweet
    The fed upped the interest rate from 1 to 5% and OMG the wheels came off

    The Bush admin could have went after the oil market from drilling, extraction, delivery, refinement and sales
    WE MUST expand our ability to create jobs and we must do this now
     

Share This Page