1.8 Trillion Dollar Deficit

Meister

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Jan 15, 2009
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Barry's rosy deficit projection hit a snag and has been bumped up another 89 billion dollars. Worse than expected numbers have come it with food stamps, and unemployment have driven up the deficit. I guess with the 2 stimulus packages already enacted, haven't had much impact with the numbers. With the first emergency....dire straits crisis stimulus package that had to be passed in just days last September, we would have seen some benefits from it by now. Then another stimulus bill was shoved down our throats. IMHO....I really don't have any faith in the stimulus packages, and we're going to pay for it dearly.

WASHINGTON — With the economy performing worse than hoped, revised White House figures point to deepening budget deficits, with the government borrowing almost 50 cents for every dollar it spends this year.

The deficit for the current budget year will rise by $89 billion to above $1.8 trillion — about four times the record set just last year. The unprecedented red ink flows from the deep recession, the Wall Street bailout, the cost of President Barack Obama’s economic stimulus bill, as well as a structural imbalance between what the government spends and what it takes in.

As the economy performs worse than expected, the deficit for the 2010 budget year beginning in October will worsen by $87 billion to $1.3 trillion, the White House says. The deterioration reflects lower tax revenues and higher costs for bank failures, unemployment benefits and food stamps
White House: Budget deficit to top $1.8 trillion - BostonHerald.com


White House forecasts higher budget deficit
 
:lol:Don't expect to fix eight years of Conservative incompetance and idiocy in the space of less than four months. Worst of all, for you fellows, if the President does succeed, you will see many more years of good governance.:lol:
 
Old Rocks.. the partisan tool

1) It was not "eight years of Conservative incompetance"... Bush was hardly a conservative
2) Obama has not shown "good governance" yet
3) So your answer to the republican/Bush financial issues is to go even more into debt?

What a tool
 
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Under oblahma.... we're fucked. Show me ONE accountant that's looked at our future economy that says different.
 
I love how when Bush did it it was bad and when Obama does the same damn thing only more so it's great.
 
:lol:Don't expect to fix eight years of Conservative incompetance and idiocy in the space of less than four months. Worst of all, for you fellows, if the President does succeed, you will see many more years of good governance.:lol:

Last time I checked, you couldn't fix eight years of incompetent governance in any amount of time by staying the course. In addition to the previous eight years of reckless deficit spending, we are now promised four more years of reckless deficit spending combined with determined effort to enact policies which will cripple American manufacturing and destroy millions more jobs.

I am glad that the President is taking a stand and exerting governmental authority over rogue corporations. But instead of forcing these corporations to operate in a fashion conducive to the public good, he is cheating investors and turning control over these corporations to a different narrow interest group-- the unions, which have no more interest in the public good than the previous investors.

Forget the wars in Iraq and Afghanistan. Hell, you can even forget about the War on Drugs. Our last two administrations have declared War on the Economy, and they appear determined to fight it to the last man.
 
I love how when Bush did it it was bad and when Obama does the same damn thing only more so it's great.

I love it that Bush policy created this trillion dollar deficit and it was all good with Conservative Republicans but when Obama tries to fix the previous administration's failures, you all are so sure he doesn't have any idea what he is doing... :cuckoo:
 
I love how when Bush did it it was bad and when Obama does the same damn thing only more so it's great.

I love it that Bush policy created this trillion dollar deficit and it was all good with Conservative Republicans but when Obama tries to fix the previous administration's failures, you all are so sure he doesn't have any idea what he is doing... :cuckoo:

Still waiting to hear how you fix a deficit/debt with more more of a deficit
 
I love how when Bush did it it was bad and when Obama does the same damn thing only more so it's great.

I love it that Bush policy created this trillion dollar deficit and it was all good with Conservative Republicans but when Obama tries to fix the previous administration's failures, you all are so sure he doesn't have any idea what he is doing... :cuckoo:

Still waiting to hear how you fix a deficit/debt with more more of a deficit

Have you read any part of the stimulus package? Try that.
 
:lol:Don't expect to fix eight years of Conservative incompetance and idiocy in the space of less than four months. Worst of all, for you fellows, if the President does succeed, you will see many more years of good governance.:lol:

Last time I checked, you couldn't fix eight years of incompetent governance in any amount of time by staying the course.

And isn't that one of the things that Bush was criticized for? Staying the course? Different situation of course, but the analogy should be obvious.

In addition to the previous eight years of reckless deficit spending, we are now promised four more years of reckless deficit spending combined with determined effort to enact policies which will cripple American manufacturing and destroy millions more jobs.

I am glad that the President is taking a stand and exerting governmental authority over rogue corporations. But instead of forcing these corporations to operate in a fashion conducive to the public good, he is cheating investors and turning control over these corporations to a different narrow interest group -- the unions, which have no more interest in the public good than the previous investors.

Forget the wars in Iraq and Afghanistan. Hell, you can even forget about the War on Drugs. Our last two administrations have declared War on the Economy, and they appear determined to fight it to the last man.

Maybe the WWE could bill it as a cage match....
 
I love how when Bush did it it was bad and when Obama does the same damn thing only more so it's great.

I love it that Bush policy created this trillion dollar deficit and it was all good with Conservative Republicans but when Obama tries to fix the previous administration's failures, you all are so sure he doesn't have any idea what he is doing... :cuckoo:


Well, gee.... Why don't you give us a clue.... What he's doing, that is....
 
Many warned, especially on this board, that the 'stimulus' was a fraud, it was just a wish list of old projects the dems always wanted to pass, and now they did.

Well, unemploement is again worse, the deficeit projection for this year increased four fold, there are no 'new jobs' being created and BO wants to add two more whopping items to the budget, health care & cap & trade.
 
Ohh come on the economy is getting better, why this month only 530,000 people lost jobs compared to 600,000 last month. If we spend another 10 trillion on a new stimulus plan, using the figures from the last , no new jobs will be created but those still working will keep theirs.

Of course it might help if the money being allocated actually gets spent THIS year and not sometime in the next 6 years. Why if we give ACORN enough they can hire a hundred thousand more registration fraud workers.

I do love how up until Obama was President the MANTRA from the left was "Deficit BAD" and now it is Deficit not only good, but NEEDED". He ran claiming he would bring down the deficit.

Of course he just increased it 3 fold and now claims in 4 years he will cut it in half. Lets do the math shall we? If he just tripled the deficit and then cuts it in half magically in 4 years he will still have increased the deficit by 50 percent.

Of course a sane person would ask how after 4 years of massive deficit spending on programs that will grow not shrink, one is going to CUT government spending in 4 years. If he doubles taxes it won't work, so what exactly is the plan, besides a " just wait, I will fix it later" speech?

Meanwhile he is destroying the economy. Raising taxes on business, creating new taxes for business, creating a massive tax burden on power plants, which will be shifted to us and business and trying to raise taxes on the very people that might have the money to create new jobs. There will be no growth in our tax base even if the Depression is averted. It will shrink. It already IS shrinking.

And the response we get from the Obama admirers is "hey at least he is spending all that borrowed money in the US".
 
I love it that Bush policy created this trillion dollar deficit and it was all good with Conservative Republicans but when Obama tries to fix the previous administration's failures, you all are so sure he doesn't have any idea what he is doing... :cuckoo:

Still waiting to hear how you fix a deficit/debt with more more of a deficit

Have you read any part of the stimulus package? Try that.


And it has absofuckinglutely nothing to do with how you further increase a deficit in an attempt to reduce the deficit/debt...

Not to mention the bullshit assumption that various assloads of pork is not really stimulative

But nice try
 
Old Rocks.. the partisan tool

1) It was not "eight years of Conservative incompetance"... Bush was hardly a conservative
2) Obama has not shown "good governance" yet
3) So your answer to the republican/Bush financial issues is to go even more into debt?

What a tool

Tool? Who supported the idiot for those eight years? Diamond Dave and company, that is who. You kissed 'W's ass for eight years, and now you are denying it.
 
Old Rocks.. the partisan tool

1) It was not "eight years of Conservative incompetance"... Bush was hardly a conservative
2) Obama has not shown "good governance" yet
3) So your answer to the republican/Bush financial issues is to go even more into debt?

What a tool

Tool? Who supported the idiot for those eight years? Diamond Dave and company, that is who. You kissed 'W's ass for eight years, and now you are denying it.

You, as a tool, cannot comprehend a difference between supporting some things/decisions and total 100% blind support...
my support for Bush offensively pursuing terrorists MUST mean that I supported his spending plans. :rolleyes: Because I supported the premise of the Patriot Act, I MUST have supported his non-interference in the looming subprime crisis, even though the warnings were placed in front of him and almost every other national leader :rolleyes:

I do not deny what I supported Bush for... but I also point out what I criticized him for over a long period of time

You are a partisan hack of the worst kind
 
Still waiting to hear how you fix a deficit/debt with more more of a deficit

Have you read any part of the stimulus package? Try that.


And it has absofuckinglutely nothing to do with how you further increase a deficit in an attempt to reduce the deficit/debt...

Not to mention the bullshit assumption that various assloads of pork is not really stimulative

But nice try


Of course the stimulus package and bailout aren't designed to fix the deficit, but the tanking economy Obama inherited.

But nice strawman.
 
Ohh come on the economy is getting better, why this month only 530,000 people lost jobs compared to 600,000 last month. If we spend another 10 trillion on a new stimulus plan, using the figures from the last , no new jobs will be created but those still working will keep theirs.

Of course it might help if the money being allocated actually gets spent THIS year and not sometime in the next 6 years. Why if we give ACORN enough they can hire a hundred thousand more registration fraud workers.

I do love how up until Obama was President the MANTRA from the left was "Deficit BAD" and now it is Deficit not only good, but NEEDED". He ran claiming he would bring down the deficit.

Of course he just increased it 3 fold and now claims in 4 years he will cut it in half. Lets do the math shall we? If he just tripled the deficit and then cuts it in half magically in 4 years he will still have increased the deficit by 50 percent.

Of course a sane person would ask how after 4 years of massive deficit spending on programs that will grow not shrink, one is going to CUT government spending in 4 years. If he doubles taxes it won't work, so what exactly is the plan, besides a " just wait, I will fix it later" speech?

Meanwhile he is destroying the economy. Raising taxes on business, creating new taxes for business, creating a massive tax burden on power plants, which will be shifted to us and business and trying to raise taxes on the very people that might have the money to create new jobs. There will be no growth in our tax base even if the Depression is averted. It will shrink. It already IS shrinking.

And the response we get from the Obama admirers is "hey at least he is spending all that borrowed money in the US".

I notice you dumb ass's ignored this.
 

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