The Incredible Shrinking Obama Deficit.

[Siete]

The federal budget deficit fell this year to its lowest level since President Obama took office, his administration reported Thursday, a change propelled by an increase in tax receipts amid a strengthening economy.

The deficit was $439 billion in the 2015 fiscal year, $44 billion less than last year, the Treasury Department and the Office of Management and Budget said in a report. The shortfall represents 2.5 percent of the economy, the lowest share since 2007.

“Under the president’s leadership, the deficit has been cut by roughly three-quarters as a share of the economy since 2009 — the fastest sustained deficit reduction since just after World War II,” Treasury Secretary Jacob J. Lew said in a statement released with the figures. The deficit ballooned to $1.4 trillion in 2009, in part because of stimulus spending during the recession


the fastest sustained deficit reduction since just after World War II,

??????????????????

oh ...

READ WHAT THEY SAID IDIOT!!!!!!!

He decreased his OWN deficit from 2009 ......but that deficit was 3 times the deficit from the year before.

See how easily you are duped?

the 09 deficit was not all his responsibility ... you said yourself the 08 numbers show up on the 09 books ... were you lying?

dupe

I did not say they show up on the 09 book you child.

I said the numbers are reported in 09....but they are on the 08 books.

Do you know anything about accounting?

When you file your 2014 tax return in April of 2015....they are still your 2014 taxes. ANd 10 years later, if you were to look at them, they would still be your 2014 taxes....even though they did not become record...and reported....in 2015.

Grow up.

I said the numbers are reported in 09....but they are on the 08 books.

even the numbers that are posted after the 08 fiscal year is over are on the 08 books ?

that's a new one ... how does that little trick work?

 

[Jarhead]

you guys are impressed that he

I didn't say it wasn't factually correct, I said it was intentionally dishonest go work in your reading comprehension.

facts are dishonest?

seems to be the biggest part of your problem ..

actually, taking facts and not applying the properly is a big problem. As you have done.

If I were to spend 100 dollars that I don't have......and the next week I spend 50 dollars I don't have. And my wife tells me I have a spending problem.....and I respond with "I spent half this week than I did last week"......I stated a fact that could put her mind at ease......but it was a dishonest fact because it did not address her concerns.

You are the one being dishonest or else willfully stupid and innumerate.

If you spend 40 dollars extra the following week, and 30 dollars extra the week after that, and 20 dollars extra the week after that, your wife would see an encouraging trend.

And that is what we see with Clinton and Obama. BOTH decreased deficits EVERY YEAR of their Administrations.

You can't say that about Bush. He hit a record deficit in FY2009.

that is correct. I am not saying there is not a trend downward. I was responding to those that touted how he kept his word that he would cut the deficit in half by the end of his first term.

Which he did. We went from Bush's $1.4 trillion deficit to a $680 billion deficit four years later.

Furthermore, his first deficit was nearly 3 times the deficit of the year before.

Nope. You are simply lying in the face of indisputable facts now. I can't help you. You are deep in birtheresque ODS territory now.

Until you admit to yourself the FY2009 deficit was Bush's deficit, no one will be able to help you, and will be just wasting their time with you.

I never said the 2009 deficit was Bush's deficit.
Bush left office in 2008.
The Budget for 2009 was passed in 2008, but that is not what created the deficit. The stimulus of 2009 played a major role in the 1.5 trillion deficit.

When the 2009 budget was approved in 2008, it reflected a likely deficit of less than a half a trillion for the year 2009. The Obama took office and passed some things....like the stimulus.....

Bush's final year was a half a trillion deficit. Obamas first year was a 1.5 trillion deficit.

The rest speaks for itself.

 

[CrusaderFrank]

Spending declined after Obama lost Congress

 

[Jarhead]

The federal budget deficit fell this year to its lowest level since President Obama took office, his administration reported Thursday, a change propelled by an increase in tax receipts amid a strengthening economy.

The deficit was $439 billion in the 2015 fiscal year, $44 billion less than last year, the Treasury Department and the Office of Management and Budget said in a report. The shortfall represents 2.5 percent of the economy, the lowest share since 2007.

“Under the president’s leadership, the deficit has been cut by roughly three-quarters as a share of the economy since 2009 — the fastest sustained deficit reduction since just after World War II,” Treasury Secretary Jacob J. Lew said in a statement released with the figures. The deficit ballooned to $1.4 trillion in 2009, in part because of stimulus spending during the recession


the fastest sustained deficit reduction since just after World War II,

??????????????????

oh ...

READ WHAT THEY SAID IDIOT!!!!!!!

He decreased his OWN deficit from 2009 ......but that deficit was 3 times the deficit from the year before.

See how easily you are duped?

the 09 deficit was not all his responsibility ... you said yourself the 08 numbers show up on the 09 books ... were you lying?

dupe

I did not say they show up on the 09 book you child.

I said the numbers are reported in 09....but they are on the 08 books.

Do you know anything about accounting?

When you file your 2014 tax return in April of 2015....they are still your 2014 taxes. ANd 10 years later, if you were to look at them, they would still be your 2014 taxes....even though they did not become record...and reported....in 2015.

Grow up.

I said the numbers are reported in 09....but they are on the 08 books.

even the numbers that are posted after the 08 fiscal year is over are on the 08 books ?

that's a new one ... how does that little trick work?

I have no clue what this post of yours is saying.

You are babbling.

Final word to you child......it is near impossible to report a profit or loss for any given year during that year. You must close the books of that year, then review them, audit them, and then report them. That is usually done during the first quarter of the following year.....BUT THEY ARE STILL THE PROFITS OR LOSS FOR THE PREVIOUS YEAR.

Get it?

Likely not.

Idiot.

 

[Jarhead]

The federal budget deficit fell this year to its lowest level since President Obama took office, his administration reported Thursday, a change propelled by an increase in tax receipts amid a strengthening economy.

The deficit was $439 billion in the 2015 fiscal year, $44 billion less than last year, the Treasury Department and the Office of Management and Budget said in a report. The shortfall represents 2.5 percent of the economy, the lowest share since 2007.

“Under the president’s leadership, the deficit has been cut by roughly three-quarters as a share of the economy since 2009 — the fastest sustained deficit reduction since just after World War II,” Treasury Secretary Jacob J. Lew said in a statement released with the figures. The deficit ballooned to $1.4 trillion in 2009, in part because of stimulus spending during the recession


the fastest sustained deficit reduction since just after World War II,

??????????????????

oh ...

READ WHAT THEY SAID IDIOT!!!!!!!

He decreased his OWN deficit from 2009 ......but that deficit was 3 times the deficit from the year before.

See how easily you are duped?

the 09 deficit was not all his responsibility ... you said yourself the 08 numbers show up on the 09 books ... were you lying?

dupe

I did not say they show up on the 09 book you child.

I said the numbers are reported in 09....but they are on the 08 books.

Do you know anything about accounting?

When you file your 2014 tax return in April of 2015....they are still your 2014 taxes. ANd 10 years later, if you were to look at them, they would still be your 2014 taxes....even though they did not become record...and reported....in 2015.

Grow up.

I said the numbers are reported in 09....but they are on the 08 books.

even the numbers that are posted after the 08 fiscal year is over are on the 08 books ?

that's a new one ... how does that little trick work?

Child...you said "posted"...I didn't. I said reported.

Yes, the 08 numbers are REPORTED in 09....but they are still the 08 numbers.

You are a child.

 

[Siete]

The federal budget deficit fell this year to its lowest level since President Obama took office, his administration reported Thursday, a change propelled by an increase in tax receipts amid a strengthening economy.

The deficit was $439 billion in the 2015 fiscal year, $44 billion less than last year, the Treasury Department and the Office of Management and Budget said in a report. The shortfall represents 2.5 percent of the economy, the lowest share since 2007.

“Under the president’s leadership, the deficit has been cut by roughly three-quarters as a share of the economy since 2009 — the fastest sustained deficit reduction since just after World War II,” Treasury Secretary Jacob J. Lew said in a statement released with the figures. The deficit ballooned to $1.4 trillion in 2009, in part because of stimulus spending during the recession


the fastest sustained deficit reduction since just after World War II,

??????????????????

oh ...

READ WHAT THEY SAID IDIOT!!!!!!!

He decreased his OWN deficit from 2009 ......but that deficit was 3 times the deficit from the year before.

See how easily you are duped?

the 09 deficit was not all his responsibility ... you said yourself the 08 numbers show up on the 09 books ... were you lying?

dupe

I did not say they show up on the 09 book you child.

I said the numbers are reported in 09....but they are on the 08 books.

Do you know anything about accounting?

When you file your 2014 tax return in April of 2015....they are still your 2014 taxes. ANd 10 years later, if you were to look at them, they would still be your 2014 taxes....even though they did not become record...and reported....in 2015.

Grow up.

I said the numbers are reported in 09....but they are on the 08 books.

even the numbers that are posted after the 08 fiscal year is over are on the 08 books ?

that's a new one ... how does that little trick work?

Child...you said "posted"...I didn't. I said reported.

Yes, the 08 numbers are REPORTED in 09....but they are still the 08 numbers.

You are a child.

Congress .. each fiscal year which is the 12-month period beginning on October 1 and ending on September 30 of the next calendar year..

$$$$ W spent after Oct 01, 2008 was counted on fiscal year 09... Obama was responsible for that .. yes or no?

edit ...

Oct 1 The Senate Passes TARP

The Senate passes a revised version of the bill, stuffed with tax breaks.

Oct 3 The House Passes TARP
The House passes the bill, and the president signs the $700 billion Emergency Economic Stabilization Act into law.

Oct 8 Second AIG Bailout
The government restructures its bailout of AIG. The insurer gets access to $37.8 billion more in loans.

Oct 14 Paulson Rolls Out Bank Investments
The Treasury Department announces that it will invest up to $250 billion in the nation's banks via the Capital Purchase Program, a subcomponent of the TARP, and billed as investments in "healthy banks." Paulson announced nine major banks signed on for a total of $125 billion in investments. (More about the program here.)

Oct 3 Wells Fargo Buys Wachovia
Wachovia, rejecting a previous proposal with Citigroup, agreed to merge with Wells Fargo for $15.4 billion

November
46 bailouts: $90.3B List

Nov 10 Third AIG Bailout
The government restructures its bailout of AIG for the second time. Treasury invests $40 billion in AIG as part of the government’s now-$150 billion effort to keep AIG from collapsing.

Nov 12 Paulson Scraps Original Bailout Plan
Paulson announces that he's scrapping the plan to purchase troubled assets. The capital investments in the banks proved to be a "more powerful" means of boosting the financial system, he said.

Nov 14 Freddie Mac Asks for $13.8 Billion
Freddie Mac reports a net loss of $25.3 billion for the third quarter of 2008. To fill the hole of its losses, the Federal Housing Finance Agency requests $13.8 billion from the Treasury.

Nov 23 Citigroup Bailed Out
The Treasury announces that it will invest $20 billion more in Citigroup; this is in addition to a $25 billion investment in October through the Capital Purchase Program. The government also agrees to use up to $5 billion to help Citi absorb losses from a $301 billion pool of assets.

Nov 25 Fed and Treasury Roll Out Program to Spur Lending (TALF)
The Treasury and Fed announce the Term Asset-Backed Securities Loan Facility (TALF), a Fed program that will lend up to $200 billion to owners of highly rated asset-backed securities in order to spur consumer lending. Treasury puts up $20 billion to support the effort. (More about the program here.)

December
166 bailouts: $65.4B 1 revenue payments: $172M List


Dec 19 Auto Bailout Announced
The Treasury announces that it will make loans to General Motors and Chrysler to prevent bankruptcy. (More about the auto bailout here

^^^^^^^^ Bush spending that is credited to Obama.

Just the facts ...

 

[Richard-H]

I'm amazed that the people on this thread don't know the difference between the federal deficit and the federal debt!

 

[Siete]

I'm amazed that the people on this thread don't know the difference between the federal deficit and the federal debt!

99% of the rightwing dolts could care less ... and forget about timelines regarding either ...

 

[toxicmedia]

A great leader would find a way to cut the deficit without having to impose higher taxes.

Which leaders have done that so far?

 

[Avorysuds]

Lets get this strait. Obama is running near 2 trillion in deficit spending... You can't pretend Federal Reserve's "stimulus spending" does not count towards the deficit but then count the revenues in the hundreds of billions produced by the flood of near 5 trillion now don't artificially inflate revenues. The US brings in about 2.5 Trillion a year, the Fed dumped near 800 billion a year into the markets, that's around a third of the economy being 100% fake.

No President has ever in our history had such a non stop stimulus nor on this scale as a % of revenues. When the stimulus ends we will more than likely end up in a deep recession or depression. We are currently in a recession where the rich or well off do good to great and the middle class and poor struggle, as all recessions produce this outcome.

Obama has assisted in dooming this country to a super sized correction.

Obama is not a leader, not a great thinker... He simply applied the failed policies those have used before him because he is economically challenged.

 

[Avorysuds]

A great leader would find a way to cut the deficit without having to impose higher taxes.

Which leaders have done that so far?

Harding, Coolidge. Got the country out of a depression in 18 months at the same time. History remembers them as a failed administration but tells us the FDR whom ruled under a never ending depression and spending as a God.

Honestly, just watch as liberals claim Harding's roaring 20's of 10 years of awesome is why we had a "Great Depression" in witch he was not even alive during............. Think about that, just sit back and think about that.

 

[Siete]

Lets get this strait. Obama is running near 2 trillion in deficit spending... You can't pretend Federal Reserve's "stimulus spending" does not count towards the deficit but then count the revenues in the hundreds of billions produced by the flood of near 5 trillion now don't artificially inflate revenues. The US brings in about 2.5 Trillion a year, the Fed dumped near 800 billion a year into the markets, that's around a third of the economy being 100% fake.

No President has ever in our history had such a non stop stimulus nor on this scale as a % of revenues. When the stimulus ends we will more than likely end up in a deep recession or depression. We are currently in a recession where the rich or well off do good to great and the middle class and poor struggle, as all recessions produce this outcome.

Obama has assisted in dooming this country to a super sized correction.

Obama is not a leader, not a great thinker... He simply applied the failed policies those have used before him because he is economically challenged.

there ya go Richard ... case in point.

 

[Avorysuds]

Its a FACT that your post is intentionally dishonest.

bullshit ... G is 100% correct.

I didn't say it wasn't factually correct, I said it was intentionally dishonest go work in your reading comprehension.

facts are dishonest?

seems to be the biggest part of your problem ..

actually, taking facts and not applying the properly is a big problem. As you have done.

If I were to spend 100 dollars that I don't have......and the next week I spend 50 dollars I don't have. And my wife tells me I have a spending problem.....and I respond with "I spent half this week than I did last week"......I stated a fact that could put her mind at ease......but it was a dishonest fact because it did not address her concerns.

You are the one being dishonest or else willfully stupid and innumerate.

If you spend 40 dollars extra the following week, and 30 dollars extra the week after that, and 20 dollars extra the week after that, your wife would see an encouraging trend.

And that is what we see with Clinton and Obama. BOTH decreased deficits EVERY YEAR of their Administrations.

You can't say that about Bush. He hit a record deficit in FY2009.

Obama didn't decrease shit yo~

 

[g5000]

Obama didn't decrease shit yo~

The deficit has decreased every fiscal year Obama has been in office, yo.

 

[Avorysuds]

Obama didn't decrease shit yo~

The deficit has decreased every fiscal year Obama has been in office, yo.

No it has not. And even as it went down, it did so because the FR trillion dollar spending program is not accounted for but the revenues it produces does get counted. It's actually pretty simply math, but it takes a moment of honesty to realize the current numbers dishonesty. Just like with the UE numbers.

Right now Obama like Clinton can rob the shit out of SS and run a surplus, just like Clinton....

How else do you spend more than Bush per year but magically close the deficit despite average income falling? Oh I know, you dump over 5 trillion dollars on the economy over 5-6 years.

 

[g5000]

Obama didn't decrease shit yo~

The deficit has decreased every fiscal year Obama has been in office, yo.

No it has not.

It has, and the evidence was provided long before you showed up.

 

[Siete]

poor avory ..

Treasury Dept and Office of Management and Budget report federal deficit of $439 billion in 2015 fiscal year, lowest level since Pres Obama entered office

guess that explains the 2 trillion dollar deficit he imagined Obama has.

 

[Stephanie]

DEMOCRATS Cheer Obama’s Economy – Here is What They Don’t Want You to Know

Jim Hoft Oct 14th, 2015 7:42 am 30 Comments

Last night was the first Democrat-Socialist presidential primary debate in Las Vegas, Nevada.


The Democratic candidates cheered Barack Obama’s economy.

Here is what they don’t want you to know—
The Economy Is Worse Than Previously Thought

“Already The Worst On Record Since World War II,” The Most Recently Revised GDP Figures For 2015 Indicate The Economy Is “Weaker Than Previously Thought.” “The economic expansion—already the worst on record since World War II—is weaker than previously thought, according to newly revised data.” (Eric Morath, “The Worst Expansion Since World War II Was Even Weaker,” The Wall Street Journal, 7/30/15)

If The Nation’s Economy Were A Hospital Patient, “Its Doctors Might Want To Try Another Course Of Treatment.” “If the country were a hospital patient, its doctors might want to try another course of treatment. The recession’s impact continues to linger across the country, despite an improvement in a number of economic measures such as job creation, according to new data from the U.S. Census Bureau.” (Aimee Picchi, “America’s Quagmire: Stubborn Poverty And Slumping Income,” CBS, 9/16/15)

Labor Force Participation Remains Low As Wages Fail To Grow
“Shadow Unemployment” Has Put “Significant Pressure On Wages” Because The Unemployment Figure “Isn’t Really As Low As It Looks.” “And it turns out that they put significant downward pressure on wages, too. In other words, it isn’t a mystery why wages haven’t started to rise like they normally do when unemployment get this low, because unemployment isn’t really as low as it looks.” (Matt O’ Brien, “Excited About An Upcoming Raise? Don’t Be.” The Washington Post, 8/4/15)

• The U.S. Currently Has The “Lowest Labor Force Participation Rate In A Generation.” “The unemployment rate has been declining steadily, but that has come in significant part due to the lowest labor force participation rate in a generation.” (Jeff Cox, US Created 142K Jobs Vs 203K Expected,” CNBC, 10/2/15)

Stagnant Incomes “Were A Problem In 2013,” Have “Remained So In 2014” And Evidence “So Far Suggests Nothing About That Is Changing In 2015.” “Stagnant incomes were a problem in 2013. They remained so in 2014. The evidence we have so far suggests nothing about that is changing in 2015. That is the reality shaping the backdrop to the 2016 presidential campaign, the Federal Reserve’s interest rate debates and the dinnertime table conversations about the state of the economies in families across the United States.” (Neil Irwin, “Why Americans Still Think The Economy Is Terrible,” The New York Times, 9/16/15)

Wage Inflation Is Around 2 Percent, The Same It Has Been Throughout The Entire Recovery. “It’s not anymore, though. Wage inflation is stuck at the same 2 percent it’s been the whole recovery, well below the 3.5 to 4 percent it would be in a normal economy—the implication being that this is not one.” (Matt O’ Brien, “Excited About An Upcoming Raise? Don’t Be.” The Washington Post, 8/4/15)

• In A “Normal Economy” Wage Inflation Would Around 3.5 To 4 Percent. “It’s not anymore, though. Wage inflation is stuck at the same 2 percent it’s been the whole recovery, well below the 3.5 to 4 percent it would be in a normal economy—the implication being that this is not one.” (Matt O’ Brien, “Excited About An Upcoming Raise? Don’t Be.”The Washington Post, 8/4/15)

Clinton-Obama Policies Have Resulted In A Disappearing Middle-Class
The U.S. Economy “Has Yet To Recover The Jobs Lost During The Recession” In The Middle Third Income Bracket. “According to a study released Monday by Georgetown University’s Center on Education and the Workforce, the U.S. economy now has about 1 million more jobs in occupations that rank in the top third of income and 800,000 more in the bottom third. The middle third, however, has yet to recover the jobs lost during the recession.” (Josh Zumbrun, “Post Recession Job Growth Coming In High-Wage Positions,” The Wall Street Journal, 8/17/15)

• Middle-Wage Occupations “Have Collapsed” Under Obama, With 900,000 Fewer Workers Since Before He Took Office. “Meanwhile, many middle-wage occupations, those with average earnings between $32,000 and $53,000, have collapsed. Jobs in the middle include traditionally blue-collar occupations such as truck drivers, welders and auto mechanics. There are 900,000 fewer workers in these occupations than there were before the recession, the report finds.” (Josh Zumbrun, “Post Recession Job Growth Coming In High-Wage Positions,” The Wall Street Journal, 8/17/15)

Middle-Class Jobs, That “Once Provided A Stable Living For Those With Less Education,” Have “Been Replaced With Low-Wage Work.” “But middle-skilled jobs, which once provided a stable living for those with less education, have been replaced with low-wage work. Occupations at the growing bottom earn less than $32,000 on average. Only one-third have health insurance and only one-quarter have retirement benefits.” (Josh Zumbrun, “Post Recession Job Growth Coming In High-Wage Positions,” The Wall Street Journal, 8/17/15)

Despite A Bleak Economic Reality, Clinton Insists Obama Deserves Praise For The Economy
Clinton Touts Obama’s Tenure As “Pretty Indisputable” Evidence That “Having A Democrat In White House Is Good For The Economy.” HILLARY CLINTON: “I think it’s pretty indisputable that having a democrat in the White House is good for our economy, better for our economy that the alternative. I think my husband understood that and produced. I think President Obama inherited a really big and dangerous mess and has, you know, been able to get us out of that ditch.” (CNN’s “Situation Room With Wolf Blitzer,” 9/17/15)

During A Recent Interview Clinton Praised Obama As Having “Been Able To Get Us Out Of That Ditch” When Referring To The Impact Of The Economic Recession. HILLARY CLINTON: “I think it’s pretty indisputable that having a democrat in the White House is good for our economy, better for our economy that the alternative. I think my husband understood that and produced. I think President Obama inherited a really big and dangerous mess and has, you know, been able to get us out of that ditch.” (CNN’s “Situation Room With Wolf Blitzer,” 9/17/15)

Clinton Has Said Obama “Doesn’t Get The Credit He Deserves” For His Work On The U.S. Economy. HILLARY CLINTON: “Ok, fast forward. President Obama gets elected. He inherits the worst financial crisis since The Great Depression, handed to him by his republican predecessor. We were losing 800,000 jobs a month and we were on the brink of something even worse happening. We could have fallen into a great depression, not just a great recession. So what does President Obama have to do? He had to fix the mess he inherited, which he did. He doesn’t get the credit he deserves from preventing us from going even deeper into that ditch in the economy. So, now we’re are back to standing, but we are not yet running.” (Hillary Clinton, Remarks At New Hampshire Town Hall, 9/18/15)

However, Clinton’s Advisers Are “Well Aware” That Clinton Cannot Base Her Campaign On “Good Feelings About The Obama Economy.” “Clinton’s advisers are well aware that they will not be able to base their campaign on good feelings about the Obama economy. Instead, they plan to highlight the president’s achievements – an unemployment rate of 5.3% and a modest recovery from the worst financial crisis since the Great Depression – while offering a package of policies aimed at addressing voters’ fears about the nation’s current direction.” (Ben White, “So-So Economy Dogs Hillary Clinton’s Campaign,” Politico, 7/30/15)

all of it here:
DEMOCRATS Cheer Obama's Economy - Here is What They Don't Want You to Know - The Gateway Pundit

 

[CrusaderFrank]

Obama didn't decrease shit yo~

The deficit has decreased every fiscal year Obama has been in office, yo.

Brutal Sequester, yo

 

[francoHFW]

the debt is the end result of total deficits... who won ?

lol

LMFAO......did you happen to read the article the chart came from? It pretty much says that the chart itself is meaningless and does not tell the true story.

What a fucking tool.

The stats are from the US Gov't, twit/dupe. News to you? DUH.