$1 trillion deficits seen for next 10 years

[charrison]

Originally posted by: heyheybooboo

Originally posted by: charrison

So since you have the data back to 1981, please note which of bush budgets broke any records when adjusted for inflation or GDP. Since I have looked at the Data, I already know the answer.

I will await your response.

Didn't have to wait long, did you?


% Increase in Nominal GDP - Presidential Term
GDP (in billions of dollars)

1993 - - - $6,657.4
1994 - - - $7,072.2
1995 - - - $7,397.7
1996 - - - $7,816.9
1997 - - - $8,304.3
1998 - - - $8,747.0
1999 - - - $9,268.4
2000 - - - $9,817.0

2001 - - - $10,128.0
2002 - - - $10,469.6
2003 - - - $10,960.8
2004 - - - $11,685.9
2005 - - - $12,433.9
2006 - - - $13,194.7
2007 - - - $13,807.5
2008 - - - $14,280.7

47,47% Increase - Clinton
41% Increase - Bush


Total Federal Debt Per Year - Bill Clinton

2000 . . . . . $5,674,178,209,886.86
1999 . . . . . $5,656,270,901,633.43
1998 . . . . . $5,526,193,008,897.62
1997 . . . . . $5,413,146,011,397.34
1996 . . . . . $5,224,810,939,135.73
1995 . . . . . $4,973,982,900,709.39
1994 . . . . . $4,692,749,910,013.32
1993 . . . . . $4,411,488,883,139.38

Federal debt increased $1.263 trillion (or 23.63%)

Total Federal Debt Per Year - George Bush

January 21, 2009 . . . . . $10,625,053,544,309.79

2008 . . . . . $10,124,225,067,127.69
2007 . . . . . $9,062,552,400,356.63
2006 . . . . . $8,506,973,899,215.23
2005 . . . . . $7,932,709,661,723.50
2004 . . . . . $7,379,052,696,330.32
2003 . . . . . $6,783,231,062,743.62
2002 . . . . . $6,228,235,965,597.16
2001 . . . . . $5,807,463,412,200.06

Federal debt increased $4.818 trillion (or 82.97%)

I believe that answers your question.


(and why won't you answer my question?)

I already answered your question. Pay attention.

I certainly agree bush spent too much, however annual deficits were not record breaking. Bush's worst budget was about 4% of gdp. Which is still well below 6% deficit of the early 80s. And if you look at the numbers in that respect, you will find that clinton had some worse defecits than bush. Perspective is something that are you missing.

 

[OneOfTheseDays]

Funny how Republicans now all of a sudden care about the budget.

You people are the worst kind of hypocrites.

 

[Fear No Evil]

Originally posted by: Harvey

Originally posted by: ProfJohn

Harvey, you need help.

Better than being beyond help like that lying Bushwhacko sycophant you see in the mirror.

Bush is gone.

That's the best news in his entire eight years in office, and it was only eight years, thousands of lives and trillions of dollars too late to be of any use or value.

Only a SMALL portion of Obama's projected $1 trillion per year will go to 'cleaning up' Bush's mess.

The majority of this spending is going to Obama's new programs and his expansion of the government.

That's a crock of shit. You mean I didn't include all of the regular, routine investments a sane government would have been making, and could have afforded, throughout their tenure? You know... little items like maintaining and upgrading infratructure, including roads, bridges, buildings, air traffic control and more?

... or like educating future generations so they didn't make the same kinds dumb ass moves as your EX-Traitor In Chief and his criminal gang?

... or REAL security measures to protect our transportation system, our public buildings, our energy generation and fuel distribution systems?

... or REAL disaster preparedness so, for example, the levees in New Orleans would have been inspected and the known defects upgraded BEFORE Katrina?

George W. Bush and his gang started their war of LIES in Iraq. It has cost us TRILLIONS of dollars and far too many lives. George W. Bush and his gang abandoned all oversight of their criminal Wall Street robber barons. That has cost us more TRILLIONS of dollars and the financial security of far too many of our citizens.

I welcome "Obama's new programs and his expansion of the government." What those programs will now cost us was already wasted by your EX-Traitor In Chief and his criminal gang. They're what we should have been doing for the last eight years, and they would have cost much less and been much easier to implement if we'd had responsible, intelligent adults running our government instead of irresponsible, murderous criminals.

You're like the guy who farts up a storm in a space capsule and then pisses and moans about the cost of installing an adequate air cleaning system. :roll:

And yet Obama continues the war policies of Bush, increases the trillions wasted, continues murdering people, and you support it.

 

[charrison]

Originally posted by: OneOfTheseDays
Funny how Republicans now all of a sudden care about the budget.

You people are the worst kind of hypocrites.

I have been saying the same thing for a long time.

 

[Fear No Evil]

Originally posted by: OneOfTheseDays
Funny how Republicans now all of a sudden care about the budget.

You people are the worst kind of hypocrites.

And its funny how the democrats who were harping on Bush for the past 8 years now don't care about Obama taking it MUCH MUCH further.

Who's the hypocrite? A LOT of Republicans were against Bush's spending.

 

[charrison]

Originally posted by: Fear No Evil

Originally posted by: OneOfTheseDays
Funny how Republicans now all of a sudden care about the budget.

You people are the worst kind of hypocrites.

And its funny how the democrats who were harping on Bush for the past 8 years now don't care about Obama taking it MUCH MUCH further.

Who's the hypocrite? A LOT of Republicans were against Bush's spending.

Yeah huge problems with a 4% of gdp bussh budget, but no problems with a 12% Oboma budget(double any postwar budget)

 

[Harvey]

Originally posted by: charrison

Yeah huge problems with a 4% of gdp bussh budget, but no problems with a 12% Oboma budget(double any postwar budget)

We're not post any of the wars that have sucked our economy dry, including Afghanistan, Iraq and the war the Wall Street robber barons declared on our financial system.

Of the three, the war in Afghanistan is the only one we should have been fighting and the one we should already have won.

The war in Iraq was a criminal assault by our own government against the citizens of the United States of America.

The war against our financial system was a joint effort by greedy execs of the financial institutions we trusted with our savings and retirement accounts with the support, cooperation and collaberation of the Bushwhacko administration who failed to oversee the attacks by their greedy contributors.

 

[charrison]

Originally posted by: Harvey

Originally posted by: charrison

Yeah huge problems with a 4% of gdp bussh budget, but no problems with a 12% Oboma budget(double any postwar budget)

We're not post any of the wars that have sucked our economy dry, including Afghanistan, Iraq and the war the Wall Street robber barons declared on our financial system.

Of the three, the war in Afghanistan is the only one we should have been fighting and the one we should already have won.

The war in Iraq was a criminal assault by our own government against the citizens of the United States of America.

The war against our financial system was a joint effort by greedy execs of the financial institutions we trusted with our savings and retirement accounts with the support, cooperation and collaberation of the Bushwhacko administration who failed to oversee the attacks by their greedy contributors.

Dont worry, the government made that financial war possible. There was no loan too bad for freddy and fanny to purchase, while they told us those instutitions were operating just fine.

 

[winnar111]

Originally posted by: retrospooty

Originally posted by: Genx87
This is disappointing. Cue the apologists in here to say the following.

1. It is needed
2. Bush's fault
3. What would you do?!?!?!?
4. At least this is spent on good things

No... but. It hasn't happened - any speculation is just speculation.

Obama has comitted to balance it, in spite of what yahoo news says. =)

IF he doesnt, commence bitching. Until then, you are just clapping with one hand.

and... It is Bush's fault

No he hasn't. He's committed to possibly halving the deficit in 5 years.

Never mind that much of his 10 year spending has nothing to do with Iraq, or anything, you know the war that he said would end in 2 years max.

 

[winnar111]

Here comes Turbo Tax Treasury Tim to the rescue!

http://news.yahoo.com/s/ap/200...n_go_pr_wh/bank_rescue


WASHINGTON ? The Obama administration's latest attempt to tackle the banking crisis and get loans flowing to families and businesses rely on a new government entity, the Public Investment Corp. to help purchase as much as $1 trillion in toxic assets on banks' books.

The plan that Treasury Secretary Timothy Geithner intends to announce Monday aims to use the resources of the $700 billion bank bailout fund, the Federal Reserve and the Federal Deposit Insurance Corp.

The initiative will seek to entice private investors, including big hedge funds, to participate by offering billions of dollars in low-interest loans to finance the purchases and also sharing risks if the assets fall further in value.

When Geithner released the initial outlines of the administration's overhaul of the bank rescue program on Feb. 10, the markets took a nosedive. The Dow Jones industrial average plunged by 380 points as investors expressed disappointment about a lack of details.

Christina Romer, head of the Council of Economic Advisers, said Sunday that it's important for investors to know that the administration is bringing a full array of programs to confront the problem.

"I don't think Wall Street is expecting the silver bullet," she said on CNN's "State of the Union."

"This is one more piece. It's a crucial piece to get these toxic assets off, but it is just part of it and there will be more to come," she said.

Also in the coming week Geithner is expected to disclose the administration's proposal to overhaul bank regulations to try to prevent a repeat of the financial crisis.



Hmm, 1 trillion a year might be on the short end.

 

[BansheeX]

Originally posted by: winnar111No he hasn't. He's committed to possibly halving the deficit in 5 years.

That was a funny goal. Tripling a massive deficit and then halving it. Success!

 

[frostedflakes]

Originally posted by: winnar111
Here comes Turbo Tax Treasury Tim to the rescue!

http://news.yahoo.com/s/ap/200...n_go_pr_wh/bank_rescue


WASHINGTON ? The Obama administration's latest attempt to tackle the banking crisis and get loans flowing to families and businesses rely on a new government entity, the Public Investment Corp. to help purchase as much as $1 trillion in toxic assets on banks' books.

The plan that Treasury Secretary Timothy Geithner intends to announce Monday aims to use the resources of the $700 billion bank bailout fund, the Federal Reserve and the Federal Deposit Insurance Corp.

The initiative will seek to entice private investors, including big hedge funds, to participate by offering billions of dollars in low-interest loans to finance the purchases and also sharing risks if the assets fall further in value.

When Geithner released the initial outlines of the administration's overhaul of the bank rescue program on Feb. 10, the markets took a nosedive. The Dow Jones industrial average plunged by 380 points as investors expressed disappointment about a lack of details.

Christina Romer, head of the Council of Economic Advisers, said Sunday that it's important for investors to know that the administration is bringing a full array of programs to confront the problem.

"I don't think Wall Street is expecting the silver bullet," she said on CNN's "State of the Union."

"This is one more piece. It's a crucial piece to get these toxic assets off, but it is just part of it and there will be more to come," she said.

Also in the coming week Geithner is expected to disclose the administration's proposal to overhaul bank regulations to try to prevent a repeat of the financial crisis.



Hmm, 1 trillion a year might be on the short end.

Supposedly this program will rely on private capital, although the govt will still have to match a lot themselves. Not all of the $1T will be ours, but unfortunately I think we will still end up spending at least a few hundred billion on this. It's mind-boggling how much money our govt is spending.

 

[shadow9d9]

Bush's trillions got us nothing. Obama's will give us affordable healthcare without being denied for pre-existing conditions, more education funding, infrastructure funding, and increased funding for renewable energy to get off foreign oil. Seems good to me...

 

[bamacre]

Originally posted by: BansheeX

Originally posted by: winnar111No he hasn't. He's committed to possibly halving the deficit in 5 years.

That was a funny goal. Tripling a massive deficit and then halving it. Success!

 

[bamacre]

Originally posted by: shadow9d9
Obama's will give us affordable healthcare

It is so affordable, then why can't we afford it?

 

[shadow9d9]

Originally posted by: bamacre

Originally posted by: shadow9d9
Obama's will give us affordable healthcare

It is so affordable, then why can't we afford it?

Simple. As a citizen, I and my wife were denied insurance by everyone in our state due to "pre-existing" conditions. This is because corporations are in charge of our healthcare system and they only care about the bottom line, killing people along the way. This has been allowed for so long that they have gotten more and more daring, increasing costs while shutting more people out to pad their bottom line.

The government needs to put an initial down payment in order to eliminate the current system so that people will not be denied insurance and will have access to affordable insurance.

If borrowing money meant not being able to afford something, then our government never would have started in the first place. Therefore to make the connection you are attempting to make is dishonest at best.

 

[Fear No Evil]

Originally posted by: shadow9d9

Originally posted by: bamacre

Originally posted by: shadow9d9
Obama's will give us affordable healthcare

It is so affordable, then why can't we afford it?

Simple. As a citizen, I and my wife were denied insurance by everyone in our state due to "pre-existing" conditions. This is because corporations are in charge of our healthcare system and they only care about the bottom line, killing people along the way. This has been allowed for so long that they have gotten more and more daring, increasing costs while shutting more people out to pad their bottom line.

The government needs to put an initial down payment in order to eliminate the current system so that people will not be denied insurance and will have access to affordable insurance.

If borrowing money meant not being able to afford something, then our government never would have started in the first place. Therefore to make the connection you are attempting to make is dishonest at best.

So Obamamessiah is going to wave his magic wand and make it so people like you can afford insurance, but the rest of us won't pay a ton more? Wow.. thats great.. I guess its like his plan to cut the deficit in half after tripling it.

 

[winnar111]

Originally posted by: Fear No Evil

Originally posted by: shadow9d9

Originally posted by: bamacre

Originally posted by: shadow9d9
Obama's will give us affordable healthcare

It is so affordable, then why can't we afford it?

Simple. As a citizen, I and my wife were denied insurance by everyone in our state due to "pre-existing" conditions. This is because corporations are in charge of our healthcare system and they only care about the bottom line, killing people along the way. This has been allowed for so long that they have gotten more and more daring, increasing costs while shutting more people out to pad their bottom line.

The government needs to put an initial down payment in order to eliminate the current system so that people will not be denied insurance and will have access to affordable insurance.

If borrowing money meant not being able to afford something, then our government never would have started in the first place. Therefore to make the connection you are attempting to make is dishonest at best.

So Obamamessiah is going to wave his magic wand and make it so people like you can afford insurance, but the rest of us won't pay a ton more? Wow.. thats great.. I guess its like his plan to cut the deficit in half after tripling it.

Hey, a billion here, a billion there, pretty soon you're talking about real money.

Such a great investment.

 

[waggy]

haha damn i love hard core obama supporters. bash bush for something then ignore that obama is doing far worse (and proposing far far worse).

 

[Svnla]

Originally posted by: Harvey

........The war against our financial system was a joint effort by greedy execs of the financial institutions we trusted with our savings and retirement accounts with the support, cooperation and collaberation of the Bushwhacko administration who failed to oversee the attacks by their greedy contributors.

Bush admin did all this? NY Times said otherwise...10 years ago..1999 http://www.nytimes.com/1999/11...&pagewanted=1&emc=eta1

Another thing, who got the top two campaign contribution $$$ from AIG, yup that AIG....you got it... Sen. Dodd a high rank Demcrat and the Messiah himself..BO

http://www.opensecrets.org/org...cips.php?id=D000000123

Hope and Change!!!!!

<Rev. Wright> God Damm American <Rev. Wright>

 

[winnar111]

http://pajamasmedia.com/instapundit/74459/

 

[StageLeft]

A lot of the republicans here are despicably hypocritical, but seriously, let's gently just stand back for a moment. Bush is gone, and whether these people are hypocrits or not, don't shoot the messenger so fast. Obama's deficits are going to be breathtaking. I just read that federal income taxes are projected to fall between 15-25% from last year, simply because the economy is slowing so much. Is this accounted for? Seriously, the money has to come from somewhere. It is beyond me why in the face of a terrible recession and unGodly spending Obama would increase spending so massively on things like his new health care plan.

haha damn i love hard core obama supporters. bash bush for something then ignore that obama is doing far worse (and proposing far far worse).

Yep, back to the hypocrisy, they are exercising it every bit as bad as the republicans they are condemning.

BTW, how many of you realize that the government has tried a multitude of methods so far to stop the reeling economy and yet it's still reeling? Do you think it has many more opportunities? If this recent plan doesn't work, and the odds are it won't because the plans haven't so far, Geithner will get his walking papers and confidence in the government to solve this will be further eroded.

 

[bbdub333]

Originally posted by: Skoorb

We've all got a little Madoff in us, really, since we're happy to fleece future generations.

Agreed.

Really does make you wonder will it will end. Guns and Butter will be in hot demand. Smith and Wesson stock up 500% I heard.

Guns are doing well and a barterable item, but SWHC is just under 6 after falling below 2 in november.

And that's still down from about $20 a year and a half ago.

 

[The-Noid]

Originally posted by: shadow9d9
Bush's trillions got us nothing. Obama's will give us affordable healthcare without being denied for pre-existing conditions, more education funding, infrastructure funding, and increased funding for renewable energy to get off foreign oil. Seems good to me...

If you get denied the statecare programs cover you at a reduced cost. Each time a dentist/hospital/clinic performs a service they must pay into the state kitty.

Amazing what can be done with samm government that big government can not do.

 

[winnar111]

March 25 (Bloomberg) -- President Barack Obama plans to name a task force to review and overhaul the U.S. tax code, a spokesman for the Office of Management and Budget said today.
Obama will ask the Economic Recovery Advisory Board, led by former Federal Reserve Board Chairman Paul Volcker, for a top-to- bottom review of the 96-year-old law in an effort to ?rebalance the federal tax code,? spokesman Tom Gavin said in an interview.



Here come the radical and punitive tax hikes. Somebody told you nobody would be paying higher taxes than the 90s and that 95% of Americans would get a tax cut.

Somebody lied.