- Sep 19, 2011
- 28,393
- 9,970
- 900
was make excuses for the loss of $200 billion a year in tax revenue due to a common IRS called Net Operating Losses!
Yet NO ONE even conservatives who should know this and obviously liberal/progressives who can be excused because they are financially ignorant..NO one seems to be concerned much less commenting that
$200+ billion a year is being written off!
YET in spite of this nearly $1 trillion in tax revenue, Bush managed after TARP paybacks (see below) to end 2008 with a total deficit over the 8 years
Total Federal Revenue : 2001 to 2008 $28.320 trillion REVENUE
Total paid out : $33,618 trillion
Total more paid out then came in: $5.298.
Average per year over 8 years: $662.25 billion
And if the below events HADN'T reduce revenues by $1 trillion the average per year would have been:$537 billion..
AND if TARP hadn't been necessary $700 billion wouldn't be spent and the average
would be:$449 billion deficit per year.
And NO Homeland security At $800 billion over 8 years..
average deficit would have been $349 billion.
And If Democrats hadn't been in Senate/Congress from 2007 to 2008..
where they swelled the budget increase from the declining low of $231 billion in 2006 to $307 in 2008.. THERE WOULD HAVE BEEN A surplus that would have MADE up the phony balony Clinton surplus that was completely written off due to the below dot.com bust!
BUT Obama...2009 through 2010:
Total expenditures from 2009 to 2010 $7,666.5 trillion
Total Income from 2009 to 2010 $10,261.5 trillion
Total more paid out then came in $2,595 Trillion
Average per year over 2 years: $1,297.5 Trillion!
"http://www.bea.gov/national/nipaweb/TableView.asp?SelectedTable=86&ViewSeries=NO&Java=no&Request3Place=N&3Place=N&FromView=YES&Freq=Year&FirstYear=2002&LastYear=2010&3Place=N&Update=Update&JavaBox=no#Mid"]
Under that taxpayers could reduce tax liabilities by whatever losses were sustained for the next 30 years.
EVENTS that caused $200 billion in tax revenue losses started in 2002 and were due to:
1) 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. Dot-com bubble - Wikipedia, the free encyclopedia
2) In spite of Experiencing
the WORST attack in USA history, far worse the Pearl Harbor,
that killed 3,000 people and destroyed $1 trillion real hard assets,
destroyed businesses JOB losses of 1.7 million 2002 -2003, and then
required creation of a BRAND NEW Federal Agency Homeland Security
3)In spite of Experiencing
the Worst hurricane SEASONS.. (7 of the 10 worst hurricanes)
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
Make BAD LOANS
Solyndra
Under the Bush administration, the Department of Energy rejected Solyndra for a loan in early 2009, worrying that the company didn't have good long-term prospects. Yet only two months later, Obama's newly appointed Energy Secretary Steven Chu announced the government would give the company a $535 million loan, funded with money from the stimulus.
TARP
Of $700 billion authorized $594,3377,129,154 was spent,invested, or loaned.
As of today $350,257,18,421 has been refunded, paid as interest/dividends to treasury.
OUtstanding yet to be paid $244,079,842,733
Bailout Scorecard | Eye on the Bailout | ProPublica
Lend $2 billion to Brazil
Did NOT authorize the Export/Import Bank a government run bank to make a commitment to offer a company at the time 22% owned by Soros $2 billion to develop foreign oil!
Dispelling the Brazil Oil Loan Myth as Obama Heads to Rio - Forbes
NOR did Bush EVER say as Obama did:
“We want to help you with the technology and support to develop these oil reserves safely, and when you’re ready to start selling, we want to be one of your best customers,” he said.
Obama Tells Rousseff U.S. to Be Among Brazil’s ‘Best Customers’ - Businessweek
Yet NO ONE even conservatives who should know this and obviously liberal/progressives who can be excused because they are financially ignorant..NO one seems to be concerned much less commenting that
$200+ billion a year is being written off!
YET in spite of this nearly $1 trillion in tax revenue, Bush managed after TARP paybacks (see below) to end 2008 with a total deficit over the 8 years
Total Federal Revenue : 2001 to 2008 $28.320 trillion REVENUE
Total paid out : $33,618 trillion
Total more paid out then came in: $5.298.
Average per year over 8 years: $662.25 billion
And if the below events HADN'T reduce revenues by $1 trillion the average per year would have been:$537 billion..
AND if TARP hadn't been necessary $700 billion wouldn't be spent and the average
would be:$449 billion deficit per year.
And NO Homeland security At $800 billion over 8 years..
average deficit would have been $349 billion.
And If Democrats hadn't been in Senate/Congress from 2007 to 2008..
where they swelled the budget increase from the declining low of $231 billion in 2006 to $307 in 2008.. THERE WOULD HAVE BEEN A surplus that would have MADE up the phony balony Clinton surplus that was completely written off due to the below dot.com bust!
BUT Obama...2009 through 2010:
Total expenditures from 2009 to 2010 $7,666.5 trillion
Total Income from 2009 to 2010 $10,261.5 trillion
Total more paid out then came in $2,595 Trillion
Average per year over 2 years: $1,297.5 Trillion!
"http://www.bea.gov/national/nipaweb/TableView.asp?SelectedTable=86&ViewSeries=NO&Java=no&Request3Place=N&3Place=N&FromView=YES&Freq=Year&FirstYear=2002&LastYear=2010&3Place=N&Update=Update&JavaBox=no#Mid"]
Under that taxpayers could reduce tax liabilities by whatever losses were sustained for the next 30 years.
EVENTS that caused $200 billion in tax revenue losses started in 2002 and were due to:
1) 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. Dot-com bubble - Wikipedia, the free encyclopedia
2) In spite of Experiencing
the WORST attack in USA history, far worse the Pearl Harbor,
that killed 3,000 people and destroyed $1 trillion real hard assets,
destroyed businesses JOB losses of 1.7 million 2002 -2003, and then
required creation of a BRAND NEW Federal Agency Homeland Security
3)In spite of Experiencing
the Worst hurricane SEASONS.. (7 of the 10 worst hurricanes)
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
Make BAD LOANS
Solyndra
Under the Bush administration, the Department of Energy rejected Solyndra for a loan in early 2009, worrying that the company didn't have good long-term prospects. Yet only two months later, Obama's newly appointed Energy Secretary Steven Chu announced the government would give the company a $535 million loan, funded with money from the stimulus.
TARP
Of $700 billion authorized $594,3377,129,154 was spent,invested, or loaned.
As of today $350,257,18,421 has been refunded, paid as interest/dividends to treasury.
OUtstanding yet to be paid $244,079,842,733
Bailout Scorecard | Eye on the Bailout | ProPublica
Lend $2 billion to Brazil
Did NOT authorize the Export/Import Bank a government run bank to make a commitment to offer a company at the time 22% owned by Soros $2 billion to develop foreign oil!
Dispelling the Brazil Oil Loan Myth as Obama Heads to Rio - Forbes
NOR did Bush EVER say as Obama did:
“We want to help you with the technology and support to develop these oil reserves safely, and when you’re ready to start selling, we want to be one of your best customers,” he said.
Obama Tells Rousseff U.S. to Be Among Brazil’s ‘Best Customers’ - Businessweek
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