Obama Ended Recession 4 months into Presidency... Under (43)'s Final Budget!

[mal]

no ollie, most were not democratic controlled....most in the last decade were republican controlled that overspent. I can show you, via reports from cbo or the gao, if you would like?

The HEAVY Spending has been since the DemocRATS and a Lame Duck (43)...

2006 to 2008 under a DemocRAT Congress was Bad enough...

2008 to today?...

Come on Care, you Know the Numbers.



peace...

democratic first full year fiscal budget was for fiscal year 2008, begining oct 1 2007, their 2nd year was 2009....president bush had a budget turned in to them that forecasted a $1.2 trillion dollar deficit....this was without President Bush's request for fannie and freddie bail outs, without his request for AIG bail outs, without his request for some auto bail outs, without his request for TARP/bank bailouts and without the costs of the iraq and afghanistan wars and some other things that i can't remember....the 2009 spending, which began october 1, 2008 ended up being almost $1.5 trillion deficit, instead of the $1.2 original estimate.

when president bush began his reign, he had a budget deficit of ZERO, actually he started when we had a 200 billion dollar SURPLUS budget and he ended with running a deficit every year, with his last budget deficit hitting $1.5 trillion.

Presiden Obama began with a running budget deficit of $1.5 trillion....that's what was inherited, and his first fiscal budget, begining oct 1 2009 for the fiscal 2010, ends at the end of this month and is estimated to be $1.6 trillion deficit....so, he added to the running deficit he inherited, a little over $100 billion.

and $100 billion is still A LOT to be added to the $1.5 trillion yearly deficit that we were running....but we are collecting $100-200 billion less a year in tax revenues from so many unemployed not contributing to income taxes and adding to our deficit with the extra unemployment compensation that the gvt has to pay out.

He honestly has not been as bad as you all try to twist and turn and spin it in to be.

president bush gets the credit with our recession ending, because he is the one that INSISTED on all the bail outs i listed above...that gave us the $1.5 trillion deficit for fiscal 2009....and apparently, those bail outs that i disagreed with bush on like TARP etc, worked!!! (who would have thunk it?)

"Without his"...

So the DemocRATS who held the Purse Strings have NO Responsibility?... Got it.



peace...

 

[Charles_Main]

Only fools would blame Republicans for most of our problems when over the last 60 years Democrats have controlled congress about 4 times as much as Republicans.

But then believing in the unbelievable does seem to be part and parcel of being a liberal in the country today.

 

[Care4all]

The HEAVY Spending has been since the DemocRATS and a Lame Duck (43)...

2006 to 2008 under a DemocRAT Congress was Bad enough...

2008 to today?...

Come on Care, you Know the Numbers.



peace...

democratic first full year fiscal budget was for fiscal year 2008, begining oct 1 2007, their 2nd year was 2009....president bush had a budget turned in to them that forecasted a $1.2 trillion dollar deficit....this was without President Bush's request for fannie and freddie bail outs, without his request for AIG bail outs, without his request for some auto bail outs, without his request for TARP/bank bailouts and without the costs of the iraq and afghanistan wars and some other things that i can't remember....the 2009 spending, which began october 1, 2008 ended up being almost $1.5 trillion deficit, instead of the $1.2 original estimate.

when president bush began his reign, he had a budget deficit of ZERO, actually he started when we had a 200 billion dollar SURPLUS budget and he ended with running a deficit every year, with his last budget deficit hitting $1.5 trillion.

Presiden Obama began with a running budget deficit of $1.5 trillion....that's what was inherited, and his first fiscal budget, begining oct 1 2009 for the fiscal 2010, ends at the end of this month and is estimated to be $1.6 trillion deficit....so, he added to the running deficit he inherited, a little over $100 billion.

and $100 billion is still A LOT to be added to the $1.5 trillion yearly deficit that we were running....but we are collecting $100-200 billion less a year in tax revenues from so many unemployed not contributing to income taxes and adding to our deficit with the extra unemployment compensation that the gvt has to pay out.

He honestly has not been as bad as you all try to twist and turn and spin it in to be.

president bush gets the credit with our recession ending, because he is the one that INSISTED on all the bail outs i listed above...that gave us the $1.5 trillion deficit for fiscal 2009....and apparently, those bail outs that i disagreed with bush on like TARP etc, worked!!! (who would have thunk it?)

"Without his"...

So the DemocRATS who held the Purse Strings have NO Responsibility?... Got it.



peace...

the president is our leader, by rules/law he creates the budget and the mood of the spending by congress....not the knitty gritty, but the guidelines.... any spending bills that come forward that he does not agree with, he has the responsibility to veto it.

this is how it is set up....

and anything that he vetos, would take 2/3's of the house and 2/3's of the senate voting to over ride his veto.

 

[Charles_Main]

democratic first full year fiscal budget was for fiscal year 2008, begining oct 1 2007, their 2nd year was 2009....president bush had a budget turned in to them that forecasted a $1.2 trillion dollar deficit....this was without President Bush's request for fannie and freddie bail outs, without his request for AIG bail outs, without his request for some auto bail outs, without his request for TARP/bank bailouts and without the costs of the iraq and afghanistan wars and some other things that i can't remember....the 2009 spending, which began october 1, 2008 ended up being almost $1.5 trillion deficit, instead of the $1.2 original estimate.

when president bush began his reign, he had a budget deficit of ZERO, actually he started when we had a 200 billion dollar SURPLUS budget and he ended with running a deficit every year, with his last budget deficit hitting $1.5 trillion.

Presiden Obama began with a running budget deficit of $1.5 trillion....that's what was inherited, and his first fiscal budget, begining oct 1 2009 for the fiscal 2010, ends at the end of this month and is estimated to be $1.6 trillion deficit....so, he added to the running deficit he inherited, a little over $100 billion.

and $100 billion is still A LOT to be added to the $1.5 trillion yearly deficit that we were running....but we are collecting $100-200 billion less a year in tax revenues from so many unemployed not contributing to income taxes and adding to our deficit with the extra unemployment compensation that the gvt has to pay out.

He honestly has not been as bad as you all try to twist and turn and spin it in to be.

president bush gets the credit with our recession ending, because he is the one that INSISTED on all the bail outs i listed above...that gave us the $1.5 trillion deficit for fiscal 2009....and apparently, those bail outs that i disagreed with bush on like TARP etc, worked!!! (who would have thunk it?)

"Without his"...

So the DemocRATS who held the Purse Strings have NO Responsibility?... Got it.



peace...

the president is our leader, by rules/law he creates the budget and the mood of the spending by congress....not the knitty gritty, but the guidelines.... any spending bills that come forward that he does not agree with, he has the responsibility to veto it.

this is how it is set up....

and anything that he vetos, would take 2/3's of the house and 2/3's of the senate voting to over ride his veto.

So when a republican President sees a Democrat Congress add BILLIONS to his budget. You say he should keep vetoing it and allow government to shut down.

I wonder how that would go over if they actually did it.

lol

 

[Care4all]

"Without his"...

So the DemocRATS who held the Purse Strings have NO Responsibility?... Got it.



peace...

the president is our leader, by rules/law he creates the budget and the mood of the spending by congress....not the knitty gritty, but the guidelines.... any spending bills that come forward that he does not agree with, he has the responsibility to veto it.

this is how it is set up....

and anything that he vetos, would take 2/3's of the house and 2/3's of the senate voting to over ride his veto.

So when a republican President sees a Democrat Congress add BILLIONS to his budget. You say he should keep vetoing it and allow government to shut down.

I wonder how that would go over if they actually did it.

lol

no charles, vetoing it gives the president a 'say' in the process that can be used to negotiate with....

clinton as example, vetoed the welfare reform bill of newt's twice, telling him what he wanted to see in the bill....only when they compromised and got some of what clinton wanted in to the reform, did clinton sign it....

I believe Reagan did such as well...

 

[hjmick]

So...

If the recession ended in June of 2009, the stimulus failed twice. It did not end the recession, and it did not keep unemployment below 8%.

Glad we spent that money...

 

[Care4all]

So...

If the recession ended in June of 2009, the stimulus failed twice. It did not end the recession, and it did not keep unemployment below 8%.

Glad we spent that money...

i don't think much of the stimulus was even spent by june 09...maybe a tidbit, at most....so the stimulus did not cause the recession to officially end in june 09, for certain.

in the stimulus was the increased UC payments....maybe some of that was used?

and agree the stimulus, did not reduce or keep at the same rate, unemployment.

TARP and all the bailouts probably helped us recover from what could have been much worse with the economy....i say that gingerly though.

 

[Care4all]

Doesn't the budget begin at zero each year? Then the mandated spending is added. If the mandated spending takes us into a deficit then we have only congress to blame. If there is additional spending after that, we have congress and the President to blame. It would be interesting to know just how much of the deficit is mandated........(if any)

here ya go ollie,

i found the info on discretionary vs non discretionary spending that you wanted, as i said i would! it gives us an idea of what it is on the whole.

social security, medicare/medicaid, and other mandatory makes up NON Discretionary spending, and the rest is stuff congress has to appropriate each year, thus considered discretionary....

 

[SFC Ollie]

I've actually done some looking at this myself. I almost wished I hadn't. Defense is discretionary spending....And so is veteran benefits and services. Along with things like International affairs. I'm not so certain I want to understand it.....

 

[8537]

Doesn't the budget begin at zero each year? Then the mandated spending is added. If the mandated spending takes us into a deficit then we have only congress to blame. If there is additional spending after that, we have congress and the President to blame. It would be interesting to know just how much of the deficit is mandated........(if any)

here ya go ollie,

i found the info on discretionary vs non discretionary spending that you wanted, as i said i would! it gives us an idea of what it is on the whole.

social security, medicare/medicaid, and other mandatory makes up NON Discretionary spending, and the rest is stuff congress has to appropriate each year, thus considered discretionary....

Not to put to fine a point on it, but ALL spending is discretionary spending. Calling it mandatory is a cop-out by both parties. No current congress can be held to the spending decisions of the previous, and congress COULD go to work tomorrow and vote to end all future SS and Medicare payments starting next week.

They won't, of course, but they could - and the only thing that even approaches mandatory spending in the budget is labor costs associated with union employees.

 

[BlueJackets fan]

Why do people think the recession really is over?
The Blue Jackets have a better chance of winning the Stanley Cup than us getting out of it anytime soon.

 

[Care4all]

Doesn't the budget begin at zero each year? Then the mandated spending is added. If the mandated spending takes us into a deficit then we have only congress to blame. If there is additional spending after that, we have congress and the President to blame. It would be interesting to know just how much of the deficit is mandated........(if any)

here ya go ollie,

i found the info on discretionary vs non discretionary spending that you wanted, as i said i would! it gives us an idea of what it is on the whole.

social security, medicare/medicaid, and other mandatory makes up NON Discretionary spending, and the rest is stuff congress has to appropriate each year, thus considered discretionary....

Not to put to fine a point on it, but ALL spending is discretionary spending. Calling it mandatory is a cop-out by both parties. No current congress can be held to the spending decisions of the previous, and congress COULD go to work tomorrow and vote to end all future SS and Medicare payments starting next week.

They won't, of course, but they could - and the only thing that even approaches mandatory spending in the budget is labor costs associated with union employees.

Well, it is not necessarily what I call it, but it is and has been how our own government defines it....

What each congress appropriates each year is discretionary verses what is automatically spent due to laws of the land, without them touching it.

I do see where you are coming from, but what you state....their ability to just wipe out social security obligations and promises by the stroke of a pen, is really not something a congress can do that easily, as you stated.

Care

 

[Care4all]

I've actually done some looking at this myself. I almost wished I hadn't. Defense is discretionary spending....And so is veteran benefits and services. Along with things like International affairs. I'm not so certain I want to understand it.....

I know!

anyway here is what revenues we took in that goes with the chart above, and how it breaks out...

 

[Flopper]

So...

If the recession ended in June of 2009, the stimulus failed twice. It did not end the recession, and it did not keep unemployment below 8%.

Glad we spent that money...

The stimulus package did actual create jobs, hundreds of thousands of them. A lot of the grants did not create jobs but prevented layoffs and some grants did neither. The stimulus package was expensive, but without it unemployment would have been a lot higher. Here is a pretty good link to a site that tracks stimulus dollars spent and jobs created. Any claim from Democrats that the stimulus package would end the recession or solve the underemployment problem is false. Any claim from Republicans that it did not create or save hundreds of thousands of jobs is also false.

Stimulus Watch: Keeping an Eye on Economic Recovery Spending

 

[Flopper]

Why do people think the recession really is over?
The Blue Jackets have a better chance of winning the Stanley Cup than us getting out of it anytime soon.

The beginning dates and ending dates of a recession are based on a number of economic indicators. The classic definition thou relies just on consecutive months of rise or fall of GDP. The recession began in 2007, long before unemployment started it's spectacular rise and it ended in 2009 which will be long before unemployment falls to expectable levels. The lag between the end of the recession and declining unemployment can be months or years. That's why economist call unemployment a lagging indicator of economic activity. Recessions almost always begin when low unemployment and end with high unemployment.

The economy is definitely recovering. Seven of the 10 indicators that make up The Conference Board LEI increased in August. The positive contributors – beginning with the largest positive contributor – were the interest rate spread, real money supply, average weekly manufacturing hours, building permits, stock prices, index of consumer expectations, and manufacturers’ new orders for nondefense capital goods.

Although those without work certainly feel that the they are in a recession, the country isn't.

Leading economic indicators post big gain in August > RV Daily Report |

 

[KissMy]

Warren Buffett: Recession continues, by his definition

Warren Buffett says the economy remains in a recession, by his definition, because most people and businesses still aren't doing as well as they were before the financial crisis.

Buffett's assessment of the economy contradicts the view of experts who announced this week that the recession officially ended in June 2009. But Buffett says he uses a commonsense standard to evaluate the economy.

"On any commonsense definition, the average American is below where he was before, or his family, in terms of real income, GDP," (gross domestic product) Buffett said on CNBC. "We're still in a recession. And we're not gonna be out of it for awhile, but we will get out of it."

In early 2008, Buffett was also one of the first to declare that a recession had begun based on his straightforward standard that most Americans were doing worse than they had before.

The technical definition of a recession most economists use is two consecutive quarters of negative growth in the nation's gross domestic product.

 

[JiggsCasey]

there is no recovery... and it doesn't matter which party is in power... it's all a mirage....

there is NO growth with flatlined, and soon depleting, natural resources. ... Period.

 

[KissMy]

NEW RESEARCH SHOWS RECORD NUMBERS WILL SPEND LESS ON HOLIDAY SHOPPING

A record high 43.0% of American shoppers plan to spend less during the last quarter of this year than they did in 2009, while only 11.0% expect to spend more this Christmas season according to new research conducted by America’s Research Group.

“Pessimism among Americans about the upcoming Christmas season is off the charts,” said C. Britt Beemer, Founder and CEO of America’s Research Group (ARG). “Never in the 31 years I’ve been conducting research have I seen such pessimism among Americans when it comes to the Christmas season.”

“With this kind of mindset this close to the holidays, it amounts to group depression,” he added. Consumers say that financial worries will force them to spend less this Christmas. They worry about their job security, they are using cash and paying as they go rather than using credit cards, and they have little confidence in the direction of the economy.

“President Obama has pierced the side of Lady Liberty, reducing the spirit of hope among consumers as they wonder when the recession will ever end,” Beemer said. “Americans see massive government debt, more home foreclosures in their neighborhoods, and little or no improvement in their local economy, even after $1 trillion spent in government stimulus.”