White House says Republicans co-own legacy of record $19 trillion debt

[IcebergSlim]

From your link......................

“To understand the long-term trends here, we have to take a look at what exactly happened when the last Democratic president was leaving office. He was passing off budget surpluses as far as the eye could see to his successor,” Josh Earnest said at the daily White House briefing.


President George W. Bush proceeded to put in place tax cuts for the wealthy and launched a ground war in the Middle East “all without paying for it,” he added.



That led to the Great Recession that put enormous pressure on the federal budget, Earnest said.

Even your link is blaming Jr.

Not only did he give tax cuts to the wealthy, he gave them another one AFTER the war had started.

Tax cuts and killing Saddam and Taliban is money well spent when compared to Obama's "stimulus", Solyndra, and "cash for clunkers" debacle. Perhaps you folks on the left need to get your heads examined ...ASAP!

I'm guessing that you too are entirely innumerate....

Let’s start with Obama’s stimulus. The standard Republican talking point is that it failed, meaning it didn’t reduce unemployment. Yet in a survey of leading economists conducted by the University of Chicago’s Booth School of Business, 92 percent agreed that the stimulus succeeded in reducing the jobless rate. On the harder question of whether the benefit exceeded the cost, more than half thought it did, one in three was uncertain, and fewer than one in six disagreed.

The U.S. Economic Policy Debate Is a Sham

 

[IcebergSlim]

From your link......................

“To understand the long-term trends here, we have to take a look at what exactly happened when the last Democratic president was leaving office. He was passing off budget surpluses as far as the eye could see to his successor,” Josh Earnest said at the daily White House briefing.


President George W. Bush proceeded to put in place tax cuts for the wealthy and launched a ground war in the Middle East “all without paying for it,” he added.



That led to the Great Recession that put enormous pressure on the federal budget, Earnest said.

Even your link is blaming Jr.

Not only did he give tax cuts to the wealthy, he gave them another one AFTER the war had started.

It'd probably help if the government had actually had a surplus since 1957.

Take it up with OMB

They, like you apparently don't understand what debt is. I do understand they have a vested interest in lying about it.

What's your excuse?

Sure.....that's the OFFICE OF MANAGEMENT AND BUDGET.......their numbers correspond quite closely to those of the CONGRESSIONAL BUDGET OFFICE.....their methodologies are transparent.... And have remained quite constant since the late 60s...

 

[CrusaderFrank]

From your link......................

“To understand the long-term trends here, we have to take a look at what exactly happened when the last Democratic president was leaving office. He was passing off budget surpluses as far as the eye could see to his successor,” Josh Earnest said at the daily White House briefing.


President George W. Bush proceeded to put in place tax cuts for the wealthy and launched a ground war in the Middle East “all without paying for it,” he added.



That led to the Great Recession that put enormous pressure on the federal budget, Earnest said.

Even your link is blaming Jr.

Not only did he give tax cuts to the wealthy, he gave them another one AFTER the war had started.

Tax cuts and killing Saddam and Taliban is money well spent when compared to Obama's "stimulus", Solyndra, and "cash for clunkers" debacle. Perhaps you folks on the left need to get your heads examined ...ASAP!

I'm guessing that you too are entirely innumerate....

Let’s start with Obama’s stimulus. The standard Republican talking point is that it failed, meaning it didn’t reduce unemployment. Yet in a survey of leading economists conducted by the University of Chicago’s Booth School of Business, 92 percent agreed that the stimulus succeeded in reducing the jobless rate. On the harder question of whether the benefit exceeded the cost, more than half thought it did, one in three was uncertain, and fewer than one in six disagreed.

The U.S. Economic Policy Debate Is a Sham

Obama, the not so shovel ready first ever downgraded president

 

[IcebergSlim]

OF COURSE THE WH / OBAMA is declaring that. To be honest, he is of course correct. I am sure he wishes, though - as he will falsely try to claim they do - the GOP has a bigger share of it.

With the the help of a near-Super Majority controlled Liberal Congress that controlled spending / the budget the last years of Bush's administration and the 1st 2 years of Obama's, Obama added over $6 trillion in new debt in only 4 years.

Obama added more debt than every US President from Washington to Bush ... COMBINED, setting new records for 'monthly', 'annual', and 'total' deficit spending in the process.

So what does he do, as the OP shares with us? Barry does / did what he does best -- Point his finger and blame others.

You are an absolute imbecile....

As someone has pointed out, Scrub was bequeathed a surplus, and projected cumulative surpluses sufficient to wipe out the Debt Held by the Public.....he then proceeded to increase the growth rate federal spending by a factor greater than two..while cutting revenues, and establishing two sizable unfunded mandates....

The disaster he left in his wake remains unprecedented....


and I bet large that you enabled it all with two votes...

Might want to do some research on The Community Reinvestment ACT

I am quite familiar with the revisionism promoted by the likes of Peter Wallison......did you know that not a single one of his colleagues on the FCIC signed on to his dissent?

What do you believe remains untold?

CRA had virtually no effect on the disaster wrought by Scrub....

 

[Rustic]

If spending had continued to grow at the same rate as established by Scrub (exclusive of Iraqnam and Recession Remediation), the federal budget would be roughly 25% higher than what will be spent in FY 2016.......

I don't deny your chart slope was up late 2000s'. note, GWB also had bad costly stuff happen (listed many times) during his years from start to finish. Deficit in 2007 was ~150 bil?

No one put a gun to Scrubby's head and told him to vaporize the Surplus, invade Iraqnam, and hand Big Pharma the Medicare Part D boondoggle....

But he did as all career politicians do, continue the tax, spend and print policy's of every president before, for decades now. That is where the real debt is. Too bad it's too late now to fix it. The career politicians and their federal government are an banana republic, no two ways about.

 

[easyt65]

I feel Republicans own all of it after the disgraceful mess they handed Obama.

Kill the economy and then whine it's Obama's fault there is no revenue. That's what Republicans did. The fuckers.

Very true

Create a near depression and then scream as Obama attempts to use government spending to reverse it

But it was the near Super Majority Controlled Congress that created that 'near depression'. Liberals insist the economy went bad the last 2 years of Bush's term. THEY Controlled Congress, THEY controlled the Budget, THEY Controlled Spending...THEY controlled the 'near depression'....

and along with his Super majority controlled Congress Obama poured gas on the fire, spending nearly $1 trillion on alcoholic Chinese prostitutes, Homosexual Argentinians, 'loans' for millionaire Diane Feinstein's husband, etc....

 

[Rustic]

There never was an surplus... There has been an outstanding balance for decades now.
Red is red, black is black... There can never be a surplus when there is still debt.
Are people this dense common??

 

[Rustic]

No country or person for that matter has ever spent themselves out of debt...

 

[Dot Com]

Let's pick a couple and contrast them with Reality...

#2.......Federal spending reached its post WW2 peak in 2009......the last fiscal year under the worst POTUS of the modern era....

#3.....yup.....2009 again......see above

#7 Is the red line ABOVE or BELOW the green line

But for the Great Recession, the Crown Jewel of the Scrub Legacy, which of the balance of your items would be there?

but, but a Repub presided over that!!

 

[Dot Com]

Obama debt good, Boooooosh debt bad

I've got an idea.....


Why don't you detail the Obama initiatives which you believe contributed to the growth of the debt......associate them with the cost, and then we can compare it to that of the disaster which preceded him.....

What is it with you people?

Because you know nothing, you will believe anything.....and the innertubes are more than happy to accommodate your ignorance...

lol. You nailed Frank57. He does set himself up though doesn't he?

 

[Rustic]

By conservative estimates the career politicians federal government is 225+ trillion in debt/unfunded liabilities... Good luck on paying that off.
Lol

 

[NightFox]

White House says Republicans co-own legacy of record $19 trillion debt

When did the Obama Administration appoint CAPTAIN OBVIOUS as a White House Spokesperson?

"the problem at this point is that there is a problem." -- Captain Obvious

 

[SmokeALib]

Obama added more debt than every US President from Washington to Bush ... COMBINED, setting new records for 'monthly', 'annual', and 'total' deficit spending in the process.

2 million for a Hawaiian vacation, another million for a perfectly forged birth certificate.







So specifically, what did Obama spend all that money on? He got his bail out, his stimulus and health care. But those don't add up to the total debt you attribute to Obama.

What was the rest of the spending on?

 

[tyroneweaver]

If spending had continued to grow at the same rate as established by Scrub (exclusive of Iraqnam and Recession Remediation), the federal budget would be roughly 25% higher than what will be spent in FY 2016.......

I don't deny your chart slope was up late 2000s'. note, GWB also had bad costly stuff happen (listed many times) during his years from start to finish. Deficit in 2007 was ~150 bil?

No one put a gun to Scrubby's head and told him to vaporize the Surplus, invade Iraqnam, and hand Big Pharma the Medicare Part D boondoggle....

oh come now slim, obama did all those things also only on a different level. Increased the debt, invasion of syria, and the biggest tax hike in American history later to be defined as obamacare.

 

[Faun]

I feel Republicans own all of it after the disgraceful mess they handed Obama.

Kill the economy and then whine it's Obama's fault there is no revenue. That's what Republicans did. The fuckers.

Very true

Create a near depression and then scream as Obama attempts to use government spending to reverse it

But it was the near Super Majority Controlled Congress that created that 'near depression'. Liberals insist the economy went bad the last 2 years of Bush's term. THEY Controlled Congress, THEY controlled the Budget, THEY Controlled Spending...THEY controlled the 'near depression'....

and along with his Super majority controlled Congress Obama poured gas on the fire, spending nearly $1 trillion on alcoholic Chinese prostitutes, Homosexual Argentinians, 'loans' for millionaire Diane Feinstein's husband, etc....

According to your idiocy, the toxic loans which led to Bush's Great Recession were written in 2007.

 

[ZackB]

Obama burns throw white people's money like a Mexican blows throw a plate of tacos. You can spin numbers any way you like. The fact is that Obama was not fighting a war and he still caused our debt to soar uncontrollably. He refused to work with Congress to get it under control. The only time he cooperated was when Congress agreed to spend more.

 

[Sun Devil 92]

White House says Republicans co-own legacy of record $19 trillion debt

When did the Obama Administration appoint CAPTAIN OBVIOUS as a White House Spokesperson?

"the problem at this point is that there is a problem." -- Captain Obvious

I guess I think we are making progress.

They, at least, admit to owning some of it.

 

[Sun Devil 92]

From your link......................

“To understand the long-term trends here, we have to take a look at what exactly happened when the last Democratic president was leaving office. He was passing off budget surpluses as far as the eye could see to his successor,” Josh Earnest said at the daily White House briefing.


President George W. Bush proceeded to put in place tax cuts for the wealthy and launched a ground war in the Middle East “all without paying for it,” he added.



That led to the Great Recession that put enormous pressure on the federal budget, Earnest said.

Even your link is blaming Jr.

Not only did he give tax cuts to the wealthy, he gave them another one AFTER the war had started.

Tax cuts and killing Saddam and Taliban is money well spent when compared to Obama's "stimulus", Solyndra, and "cash for clunkers" debacle. Perhaps you folks on the left need to get your heads examined ...ASAP!

I'm guessing that you too are entirely innumerate....

Let’s start with Obama’s stimulus. The standard Republican talking point is that it failed, meaning it didn’t reduce unemployment. Yet in a survey of leading economists conducted by the University of Chicago’s Booth School of Business, 92 percent agreed that the stimulus succeeded in reducing the jobless rate. On the harder question of whether the benefit exceeded the cost, more than half thought it did, one in three was uncertain, and fewer than one in six disagreed.

The U.S. Economic Policy Debate Is a Sham

Who really cares what these clowns think.

There was no model performance published prior and so there is nothing to compare.

I get so tired of people giving these idiots credibility.

There is a reasons teachers teach (generally can't exist in the real world).

 

[Sun Devil 92]

Hey, I can post silly pictures with captions too.

Watch:

 

[Sun Devil 92]

But that does nothing for the conversation.

Blame Booooooooooooooooooooooooooooooooosh.........

And we still have a lot of debt.

Regardless.