There was nothing wrong with the U.S. government in 2008

[JRK]

The biggest mis conception of Obama is that he inherited a Government that was in shambles. The banking sector and the housing sector was in shambles but the U.S. govt. Was not in that bad of shape.
In fact:
2007 we were within 163 billion of a balanced budget
2008 we signed the peace treaty with Iraq that today we see has came to pass, all troops will be gone in 8 weeks or so
Tarp and the 250 billion that GWB Admin used stopped the banking collapsed and that sector was turned around in months. Not like it was in 07, but also not collapsing either. Most of that money we got back in months

So exactly what was it that Obama inherited that forced him to spend over 4 trillion dollars we did not have?

 

[NYcarbineer]

The deficit in 2008 was 458 billion.

Obama inherited a one trillion dollar deficit in 2009 before he did anything. Even freezing the budget at 2008 levels would have produced a one trillion dollar deficit for 2009.

 

[Full-Auto]

The deficit in 2008 was 458 billion.

Obama inherited a one trillion dollar deficit in 2009 before he did anything. Even freezing the budget at 2008 levels would have produced a one trillion dollar deficit for 2009.

That is not correct and you lied once again worm....................

Obama signed the remaining portions of GWs budget because democrats wanted more spending................

 

[uscitizen]

There was nothing wrong with the U.S. government in 2008

If you actually believe that then you are a hopeless case.

 

[8537]

"There is nothing wrong with our government! Nothing at all. It's peaches, cream and fine brandy in all sectors."

 

[JRK]

"There is nothing wrong with our government! Nothing at all. It's peaches, cream and fine brandy in all sectors."

What does the free market have to do with how the govt is functioning?
All the govt does is harm the free market, most of the time

You make my point better than I could. You think the private sector failures the govt caused. In the end they did not

 

[8537]

"There is nothing wrong with our government! Nothing at all. It's peaches, cream and fine brandy in all sectors."

What does the free market have to do with how the govt is functioning?

The tax revenues of the government come from the market. When tax rates decline, revenue to the government declines. When the government spends a trillion dollars on unfunded wars and passes the largest expansion of the welfare state since LBJ, expenses go up. This is how we went from surpluses to deficits.

When the market recesses, tax receipts decline and automatic stabilizer spending increases. This is why the deficit increased in 2008.

 

[JRK]

The deficit in 2008 was 458 billion.

Obama inherited a one trillion dollar deficit in 2009 before he did anything. Even freezing the budget at 2008 levels would have produced a one trillion dollar deficit for 2009.

That is not correct and you lied once again worm....................

Obama signed the remaining portions of GWs budget because democrats wanted more spending................

GWB signed nothing for 2009 that I can find, it was all a Dem budget as well as Obama signing it

Look 08 had lost revenue as did 01-02. This was the main reason for the deficit to go from 162 to 458
that's no reason for it to go to 1.5 trillion is it?

we take Iraq off of the books next year (should have in 2010, we were done) Bottom line is that is 150-200 billion a year in savings. so our spending should have remained about 300-400 billion over with Obama's Policies that has stopped some hiring

 

[G.T.]

Another thread about the same shit jrk talks about on a daily basis. Get a fucking new tune, jesus christ.

 

[Kiki Cannoli]

 

[G.T.]

From another "Bush wasn't as bad as you people say he is" thread started by JRK:

5% UE
deficits in the 100 billions with 2 war, 7 major hurricanes, 2 recessions and 9-11
won Iraq
removed Saddam

And the left wing media still are trying to claim GWB was one of the worst. What does this make BHO?

Seriously




And there's about 10 more.

 

[JRK]

"There is nothing wrong with our government! Nothing at all. It's peaches, cream and fine brandy in all sectors."

What does the free market have to do with how the govt is functioning?

The tax revenues of the government come from the market. When tax rates decline, revenue to the government declines. When the government spends a trillion dollars on unfunded wars and passes the largest expansion of the welfare state since LBJ, expenses go up. This is how we went from surpluses to deficits.

When the market recesses, tax receipts decline and automatic stabilizer spending increases. This is why the deficit increased in 2008.

Tax receipts declined in 01-02 and 03
that is just part of it

what is an un-funded war?
you mean un-funded welfare don't you?

$586.1 billion (+7.0%) - Social Security
$548.8 billion (+9.0%) - Defense[2]
$394.5 billion (+12.4%) - Medicare
$294.0 billion (+2.0%) - Unemployment and welfare
$276.4 billion (+2.9%) - Medicaid and other health related
$243.7 billion (+13.4%) - Interest on debt

etermining the costs of the wars in Iraq and Afghanistan is complex. CBO has estimated that "war-related defense activities" in 2007 were "roughly $115 billion." (CBO, The Budget and Economic Outlook: An Update, August 2007, Box 1-1, available at <http://www.cbo.gov/ftpdoc.cfm?index=8565&type=0>) See Below for total defense spending.

defending this country is in the constitution
This is from 2007
http://www.google.ca/url?sa=t&rct=j...LXhrly&usg=AFQjCNE29uEotmNcczk4G6klOWtNpgjlEA
giving money to people who refuse to work an are able to work is not
You libs have re wrote history

 

[G.T.]

http://www.usmessageboard.com/politics/190035-explain-to-us-libs-what-is-a-living-wage.html

^thread about a living wage, started 10/18/11

V different thread, same subject, started 10/18

http://www.usmessageboard.com/politics/190035-explain-to-us-libs-what-is-a-living-wage.html

 

[8537]

What does the free market have to do with how the govt is functioning?

The tax revenues of the government come from the market. When tax rates decline, revenue to the government declines. When the government spends a trillion dollars on unfunded wars and passes the largest expansion of the welfare state since LBJ, expenses go up. This is how we went from surpluses to deficits.

When the market recesses, tax receipts decline and automatic stabilizer spending increases. This is why the deficit increased in 2008.

Tax receipts declined in 01-02 and 03
that is just part of it

Indeed, it's part of what happens when you cut taxes and oversee job declines.

what is an un-funded war?
you mean un-funded welfare don't you?

An unfunded war is one in which no current revenue stream is identified to fund the action. The unfunded welfare program was Medicare Part D - 1.2T with not a single attempt to identify a current funding source.

Speaking of rewriting history....Lucky for you, you're getting good at rewriting this particular time period. That's because you repeat the rewritten history several times each day.

 

[francoHFW]

...except incredible incompetence, cronyism, and corruption...a total catastrophe. MORONS!

 

[JRK]

"There is nothing wrong with our government! Nothing at all. It's peaches, cream and fine brandy in all sectors."

What does the free market have to do with how the govt is functioning?

The tax revenues of the government come from the market. When tax rates decline, revenue to the government declines. When the government spends a trillion dollars on unfunded wars and passes the largest expansion of the welfare state since LBJ, expenses go up. This is how we went from surpluses to deficits.

When the market recesses, tax receipts decline and automatic stabilizer spending increases. This is why the deficit increased in 2008.

Un funded war?
that is not true, it is unfunded welfare
Defending this country is part of the constitution. Giving people money who are able to work but refuse to work as well as not using protection when they have sex and the tax payer funding that mistake is not

http://www.google.ca/url?sa=t&rct=j...LXhrly&usg=AFQjCNE29uEotmNcczk4G6klOWtNpgjlEA

$586.1 billion (+7.0%) - Social Security
$548.8 billion (+9.0%) - Defense[2]
$394.5 billion (+12.4%) - Medicare
$294.0 billion (+2.0%) - Unemployment and welfare
$276.4 billion (+2.9%) - Medicaid and other health related
$243.7 billion (+13.4%) - Interest on debt
$89.9 billion (+1.3%) - Education and training
$76.9 billion (+8.1%) - Transportation
$72.6 billion (+5.8%) - Veterans' benefits
$43.5 billion (+9.2%) - Administration of justice
$33.1 billion (+5.7%) - Natural resources and environment
$32.5 billion (+15.4%) - Foreign affairs
$27.0 billion (+3.7%) - Agriculture
$26.8 billion (+28.7%) - Community and regional development
$25.0 billion (+4.0%) - Science and technology
$20.5 billion (+0.8%) - Energy
$20.1 billion (+11.4%) - General government

 

[8537]

What does the free market have to do with how the govt is functioning?

The tax revenues of the government come from the market. When tax rates decline, revenue to the government declines. When the government spends a trillion dollars on unfunded wars and passes the largest expansion of the welfare state since LBJ, expenses go up. This is how we went from surpluses to deficits.

When the market recesses, tax receipts decline and automatic stabilizer spending increases. This is why the deficit increased in 2008.

Un funded war?
that is not true

No true? OK then, answer me this: when we added hundreds of billions of dollars to a budget that was already in deficit, which new revenue source was set up to cover the costs?

 

[NYcarbineer]

The deficit in 2008 was 458 billion.

Obama inherited a one trillion dollar deficit in 2009 before he did anything. Even freezing the budget at 2008 levels would have produced a one trillion dollar deficit for 2009.

That is not correct and you lied once again worm....................

Obama signed the remaining portions of GWs budget because democrats wanted more spending................

Here are the numbers:

2008 revenues - 2.534 trillion
2008 spending - 2.983 trillion

Deficit - 458 billion

2009 revenues - 2.105 trillion
2008 spending - 2.983 trillion (assuming spending would have stayed at 2008 levels

Deficit - 873 billion (ok, you got me I rounded off to a trillion lol)

That's what Obama was facing had he done NOTHING.

 

[healthmyths]

THANK YOU!
I've done an analysis of expenditures/revenue from 2001 to 2008 and ONE MAJOR element that EVERYONE forgets is a IRS rule call Net Operating Losses!
From 2000 to today.. nearly $7 trillion is being written off against income!

A) Dot Com..
B) 9/11
The Stock Market Crash of 2000-2002 caused the loss of $5 trillion in the market value of companies from March 2000 to October 2002.[13]
The 9/11 terrorist destruction of the World Trade Center's Twin Towers, killing almost 700 employees of Cantor-Fitzgerald, accelerated the stock market drop; the NYSE suspended trading for four sessions.
Dot-com bubble - Wikipedia, the free encyclopedia
C) Worst Hurricane seasons (plural!!!) in history
National Hurricane Center Publication: The Deadliest Atlantic Tropical Cyclones, 1492 - Present
Rank: Name: Year: Category: Damage (U.S.)*:
1. Katrina 2005 3 $81,000,000,000
3. Wilma (FL) 2005 3 $20,600,000,000
4. Ike (TX/LA/MS) 2008 2 $18,000,000,000
5. Charley (FL) 2004 4 $14,000,000,000
6. Ivan (FL/AL) 2004 3 $13,000,000,000
7. Rita (LA/TX) 2005 3 $10,000,000,000
9. Frances (FL) 2004 2 $8,860,000,000
12. Jeanne (FL) 2004 3 $6,500,000,000
15. Allison (TX/LA) 2001 T.S. $5,000,000,000
20. Gustav (LA) 2008 2 $3,800,000,000
24. Isabel 2003 2 $3,370,000,000
29. Dennis (NW FL) 2005 3 $2,300,000,000

All of these LOSSES are written against income after insurance payments and therefore reduced revenues from 2001 to today by an average of $200 billion a year!
If the above and dot.com/911 hadn't occurred:
Nearly $1 trillion in lost Federal tax revenue due to losses in real property, stock market losses that occurred and the IRS allows up to $166 billion a year to be written off!

 

[uscitizen]

Under Bush the war was funded outside of the budget.
Under Obama the war is funded under the budget.
One difference that I agree with.