It's official:

[Ausm]

Originally posted by: blackangst1

Originally posted by: Ausm
How come we seem to run a large deficit when the GOP is in the Whitehouse? I thought the GOP was suppose to fiscally conservative. Yeah, before you bitch about President Obama's deficit you have to cut him some slack he is cleaning up Bush's sloppy seconds.

http://www.usatoday.com/news/w...08-07-27-deficit_N.htm

The GOP as a whole hasnt been fiscally conservative for decades. But we all know this.

Then how come they act like it?

 

[Ausm]

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: Skoorb

Originally posted by: dmcowen674

Originally posted by: blackangst1
Topic Title: It's official:
Topic Summary: 2009 closes with $1.4 trillion deficit

Good

Please start paying it back immediately out of your pocket.

It's you and your hero Bush that did this.

Wow, Bush mentioned in the first reply, that is faster than I thought it would take. I figured we'd get at least three others first.

Considering he royally fucked up this country would do you expect?

If you think the status of this country is "royally fucked" you need to travel. You couldnt be farther from the truth.

Umm that's your opinion..

 

[Ozoned]

Originally posted by: blackangst1
U.S. deficit biggest since 1945

Well, we all knew this was going to happen, although the pro-Obama camp hasnt really shown much concern about it. I think we are now wishing for Bush deficits And with health care not passed yet, this is only the beginning.

But then again, maybe deficits dont matter?

Obama administration closes the books on fiscal 2009: Falling revenue plus soaring spending leads to a $1.42 trillion deficit.



NEW YORK (CNNMoney.com) -- It's officially official.

The Obama administration on Friday said the government ran a $1.42 trillion deficit in fiscal year 2009.

That made it the worst year on record since World War II, according to data from the Treasury and the White House Office of Management and Budget.

Tax receipts for the year fell 16.6% overall, while spending soared 18.2% compared to fiscal year 2008. The causes: rising unemployment, the economic slowdown and the extraordinary measures taken by lawmakers to stem the economic meltdown that hit in fall 2008.

Consequently, the annual deficit rose 212% to the record dollar amount of $1.42 trillion, from $455 billion a year earlier.

As a share of the economy, the deficit accounted for 10% of gross domestic product, up from 3.2% in 2008. As breath-taking as that may be, it's still not in the same stratosphere as the 1945 deficit, which hit 21% of GDP.

Perfect deficit cocktail mix
Fiscal year 2009, which ended Sept. 30, had all the right ingredients for a record-breaking deficit.

While tax revenue overall took a big hit, corporate receipts led the way, falling 55%. Individual income tax revenue fell 20%.

At the same time spending jumped in large part because of the various economic and financial rescue measures undertaken. The Treasury and the OMB noted that the $700 billion Troubled Asset Relief Program and the $787 billion American Recovery and Reinvestment Act, not all of which has been used, accounted for 24% of the deficit total.

As a result, the country is very near to breaching its so-called debt ceiling, currently set at $12.1 trillion. Lawmakers, however, are expected to vote to raise that ceiling this fall.

At the end of September, the country's total debt -- which is an accumulation of all annual deficits to date plus other obligations -- stood at $11.9 trillion.

The long-term view
In August, the OMB projected a 10-year deficit of $9 trillion, assuming President Obama's 2010 budget proposals are put in place.

A deficit of that magnitude means the debt held by the public would approach 82% of gross domestic product. That's double the 41% recorded in 2008.

0:00 /6:16Deficit in critical condition
Most budget experts blanch at the thought, especially given that the country's fiscal future was already a source of concern before the economic crisis because of expected shortfalls over time in funding for Medicare and Social Security.

The financial and economic meltdowns of the past year have accelerated the strain on federal coffers. So much so that now the 10-year forecast as well as the longer-term outlook are considered unsustainable, according to deficit experts William Gale and Alan Auerbach.

In a report this week, the Government Accountability Office noted that the deficits born from the financial crisis are not the biggest crux of the problem.

"While a lot of attention has been given to the recent fiscal deterioration, the federal government faces even larger fiscal challenges that will persist long after the return of financial stability and economic growth," the GAO said.

The GAO further cautioned that the yawning deficit problems should be addressed sooner rather than later.

"The longer action to deal with the nation's long-term fiscal outlook is delayed, the larger the changes will need to be, increasing the likelihood that they will be disruptive and destabilizing."

The Obama administration is promising to put a plan in place to lessen the deficit when the economy recovers.

"It was critical that we acted to bring the economy back from the brink earlier this year. As we move from rescue to recovery, the president recognizes that we need to put the nation back on a fiscally sustainable path," said OMB director Peter Orszag in a statement. "As part of the FY2011 budget policy process, we are considering proposals to put our country back on firm fiscal footing."

80% of the stimulus bill money has not been spent yet. They claim the economy is already recovering. Lets cancel the remainder of the stimulus spending.

 

[blackangst1]

Originally posted by: Ausm

Originally posted by: blackangst1

Originally posted by: Ausm
How come we seem to run a large deficit when the GOP is in the Whitehouse? I thought the GOP was suppose to fiscally conservative. Yeah, before you bitch about President Obama's deficit you have to cut him some slack he is cleaning up Bush's sloppy seconds.

http://www.usatoday.com/news/w...08-07-27-deficit_N.htm

The GOP as a whole hasnt been fiscally conservative for decades. But we all know this.

Then how come they act like it?

Hm. Either youre trying to bait me, or youre ignorant how politics work. Either way, its because they are politicians, and they do it when it suits them. Just like their Democratic counterparts.

 

[blackangst1]

Originally posted by: Ausm

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: Skoorb

Originally posted by: dmcowen674

Originally posted by: blackangst1
Topic Title: It's official:
Topic Summary: 2009 closes with $1.4 trillion deficit

Good

Please start paying it back immediately out of your pocket.

It's you and your hero Bush that did this.

Wow, Bush mentioned in the first reply, that is faster than I thought it would take. I figured we'd get at least three others first.

Considering he royally fucked up this country would do you expect?

If you think the status of this country is "royally fucked" you need to travel. You couldnt be farther from the truth.

Umm that's your opinion..

Based on having 13 countries stamped in my passport vs your...how many?

 

[ProfJohn]

Originally posted by: Rangoric
Wait a sec, I thought the budget for 2009 was done up starting in october 2008, before the election even took place.

Nope, the Democrats refused to present Bush with a budget prior to October 2008 knowing that they were going to win seats and most likely win the White House.

The majority of the 2009 budget was passed AFTER Obama took office therefore the own it.

 

[Ausm]

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: Skoorb

Originally posted by: dmcowen674

Originally posted by: blackangst1
Topic Title: It's official:
Topic Summary: 2009 closes with $1.4 trillion deficit

Good

Please start paying it back immediately out of your pocket.

It's you and your hero Bush that did this.

Wow, Bush mentioned in the first reply, that is faster than I thought it would take. I figured we'd get at least three others first.

Considering he royally fucked up this country would do you expect?

If you think the status of this country is "royally fucked" you need to travel. You couldnt be farther from the truth.

Umm that's your opinion..

Based on having 13 countries stamped in my passport vs your...how many?

So that makes you an expert? You have your opinion and I have mine...If you don't like it...tough shit.

Oh can you post on the new forum so I know that my right wing ignore filter is working correctly

 

[William Larsen]

President Regan said ?Trust but Verify.? Yes, the government reported a $1.4 Trillion deficit. However, that is totally bogus. It is much higher. You can check it out at the US Treasury Department. It identifies the ending years national debt at the end of each month and year. To the dollar.

http://www.treasurydirect.gov/...bt/histdebt_histo5.htm

The national debt on September 30, 2008 stood at $10,024,724,896,912 ($10.024 Trillion). The national debt on September 30, 2009 stood at $11,909,829,003,512 for a total 2009 deficit of $1,885,104,106,599 ($1.9 Trillion)

Historical Debt - http://www.treasurydirect.gov/.../histdebt/histdebt.htm

Daily debt history to the penny - http://www.treasurydirect.gov/...PDLogin?application=np

 

[LegendKiller]

I don't give a shit what he racks up right now. I do give a shit what he pays back in the next 3 years.

That is the key, Clinton had it, both the "Republicans" and Democrats failed to grasp it in the last 30 years. It's funny that our most fiscally conservative president was a Democrat. Hopefully Obama learned that lesson and puts the breaks on spending once the recovery begins.

 

[blackangst1]

Originally posted by: Ausm

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: Skoorb

Originally posted by: dmcowen674

Originally posted by: blackangst1
Topic Title: It's official:
Topic Summary: 2009 closes with $1.4 trillion deficit

Good

Please start paying it back immediately out of your pocket.

It's you and your hero Bush that did this.

Wow, Bush mentioned in the first reply, that is faster than I thought it would take. I figured we'd get at least three others first.

Considering he royally fucked up this country would do you expect?

If you think the status of this country is "royally fucked" you need to travel. You couldnt be farther from the truth.

Umm that's your opinion..

Based on having 13 countries stamped in my passport vs your...how many?

So that makes you an expert? You have your opinion and I have mine...If you don't like it...tough shit.

Oh can you post on the new forum so I know that my right wing ignore filter is working correctly

Expert? No. Much, much more qualified than you? Yes. You've obviously drank the left's doom and gloom kool-aid. Enjoy your miserable existance

 

[ProfJohn]

Originally posted by: LegendKiller
I don't give a shit what he racks up right now. I do give a shit what he pays back in the next 3 years.

That is the key, Clinton had it, both the "Republicans" and Democrats failed to grasp it in the last 30 years. It's funny that our most fiscally conservative president was a Democrat. Hopefully Obama learned that lesson and puts the breaks on spending once the recovery begins.

Clinton only balanced the budget after the Republicans took over congress.

Clinton did not even talk about a balanced budget prior to 1995. Look at his inaugural address or his state of the union speeches and you will see that all he spoke of pre-1995 was reducing the deficit, but not one word about a balanced budget.

Here is a good source of Clinton speeches
http://cstl-cla.semo.edu/Renka/Modern_Presidents/clinton_speeches.htm

 

[LegendKiller]

Originally posted by: ProfJohn

Originally posted by: LegendKiller
I don't give a shit what he racks up right now. I do give a shit what he pays back in the next 3 years.

That is the key, Clinton had it, both the "Republicans" and Democrats failed to grasp it in the last 30 years. It's funny that our most fiscally conservative president was a Democrat. Hopefully Obama learned that lesson and puts the breaks on spending once the recovery begins.

Clinton only balanced the budget after the Republicans took over congress.

Clinton did not even talk about a balanced budget prior to 1995. Look at his inaugural address or his state of the union speeches and you will see that all he spoke of pre-1995 was reducing the deficit, but not one word about a balanced budget.

Here is a good source of Clinton speeches
http://cstl-cla.semo.edu/Renka/Modern_Presidents/clinton_speeches.htm

Please, when Newt and his cabal wanted to spend in the late 90's Clinton held the line. They were all ready to spend all of the gains they had like drunken sailors. He vetoed plenty of spending bills then.

 

[blackangst1]

Originally posted by: LegendKiller

Originally posted by: ProfJohn

Originally posted by: LegendKiller
I don't give a shit what he racks up right now. I do give a shit what he pays back in the next 3 years.

That is the key, Clinton had it, both the "Republicans" and Democrats failed to grasp it in the last 30 years. It's funny that our most fiscally conservative president was a Democrat. Hopefully Obama learned that lesson and puts the breaks on spending once the recovery begins.

Clinton only balanced the budget after the Republicans took over congress.

Clinton did not even talk about a balanced budget prior to 1995. Look at his inaugural address or his state of the union speeches and you will see that all he spoke of pre-1995 was reducing the deficit, but not one word about a balanced budget.

Here is a good source of Clinton speeches
http://cstl-cla.semo.edu/Renka/Modern_Presidents/clinton_speeches.htm

Please, when Newt and his cabal wanted to spend in the late 90's Clinton held the line. They were all ready to spend all of the gains they had like drunken sailors. He vetoed plenty of spending bills then.

Oh you mean like the appropriations bill he voetoed in 1996 because it didnt include the additional 1.6 billion he wanted? Or do you mean the bill he vetoed because the GOP wanted to make spending cuts to the COPS program? Like that you mean?

 

[Ausm]

Originally posted by: LegendKiller

Originally posted by: ProfJohn

Originally posted by: LegendKiller
I don't give a shit what he racks up right now. I do give a shit what he pays back in the next 3 years.

That is the key, Clinton had it, both the "Republicans" and Democrats failed to grasp it in the last 30 years. It's funny that our most fiscally conservative president was a Democrat. Hopefully Obama learned that lesson and puts the breaks on spending once the recovery begins.

Clinton only balanced the budget after the Republicans took over congress.

Clinton did not even talk about a balanced budget prior to 1995. Look at his inaugural address or his state of the union speeches and you will see that all he spoke of pre-1995 was reducing the deficit, but not one word about a balanced budget.

Here is a good source of Clinton speeches
http://cstl-cla.semo.edu/Renka/Modern_Presidents/clinton_speeches.htm

Please, when Newt and his cabal wanted to spend in the late 90's Clinton held the line. They were all ready to spend all of the gains they had like drunken sailors. He vetoed plenty of spending bills then.

You going to have a hard time converting the right wing Posse Comitatus in here

 

[Ausm]

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: Skoorb

Originally posted by: dmcowen674

Originally posted by: blackangst1
Topic Title: It's official:
Topic Summary: 2009 closes with $1.4 trillion deficit

Good

Please start paying it back immediately out of your pocket.

It's you and your hero Bush that did this.

Wow, Bush mentioned in the first reply, that is faster than I thought it would take. I figured we'd get at least three others first.

Considering he royally fucked up this country would do you expect?

If you think the status of this country is "royally fucked" you need to travel. You couldnt be farther from the truth.

Umm that's your opinion..

Based on having 13 countries stamped in my passport vs your...how many?

So that makes you an expert? You have your opinion and I have mine...If you don't like it...tough shit.

Oh can you post on the new forum so I know that my right wing ignore filter is working correctly

Expert? No. Much, much more qualified than you? Yes. You've obviously drank the left's doom and gloom kool-aid. Enjoy your miserable existance

Once again your opinion and mine is I don't fucking care.

 

[blackangst1]

Originally posted by: Ausm

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: Skoorb

Originally posted by: dmcowen674

Originally posted by: blackangst1
Topic Title: It's official:
Topic Summary: 2009 closes with $1.4 trillion deficit

Good

Please start paying it back immediately out of your pocket.

It's you and your hero Bush that did this.

Wow, Bush mentioned in the first reply, that is faster than I thought it would take. I figured we'd get at least three others first.

Considering he royally fucked up this country would do you expect?

If you think the status of this country is "royally fucked" you need to travel. You couldnt be farther from the truth.

Umm that's your opinion..

Based on having 13 countries stamped in my passport vs your...how many?

So that makes you an expert? You have your opinion and I have mine...If you don't like it...tough shit.

Oh can you post on the new forum so I know that my right wing ignore filter is working correctly

Expert? No. Much, much more qualified than you? Yes. You've obviously drank the left's doom and gloom kool-aid. Enjoy your miserable existance

Once again your opinion and mine is I don't fucking care.

Then we agree I dont care if youre wrong either Have a nice day :beer:

 

[Ausm]

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: blackangst1

Originally posted by: Ausm

Originally posted by: Skoorb

Originally posted by: dmcowen674

Originally posted by: blackangst1
Topic Title: It's official:
Topic Summary: 2009 closes with $1.4 trillion deficit

Good

Please start paying it back immediately out of your pocket.

It's you and your hero Bush that did this.

Wow, Bush mentioned in the first reply, that is faster than I thought it would take. I figured we'd get at least three others first.

Considering he royally fucked up this country would do you expect?

If you think the status of this country is "royally fucked" you need to travel. You couldnt be farther from the truth.

Umm that's your opinion..

Based on having 13 countries stamped in my passport vs your...how many?

So that makes you an expert? You have your opinion and I have mine...If you don't like it...tough shit.

Oh can you post on the new forum so I know that my right wing ignore filter is working correctly

Expert? No. Much, much more qualified than you? Yes. You've obviously drank the left's doom and gloom kool-aid. Enjoy your miserable existance

Once again your opinion and mine is I don't fucking care.

Then we agree I dont care if your are right either But I am just a fucking right wing wanna be blow hard troll that frequents this forum. Have a nice day :beer:

Fixed for truth reasons

 

[nobodyknows]

Originally posted by: blackangst1

Originally posted by: nobodyknows

Originally posted by: blackangst1
nvm.

It is what it is. Happened on Obama's watch, under his budget, therefore HIS problem. End of story. Obama deficits > Bush's. Officially now.

but...but...but... CLINTON!!!!!

....gets credit for balancing the budget

Yep, so then Bush get's the credit for fucking up the whole thing. WTF took you so long to figure that out?

 

[ericlp]

Originally posted by: blackangst1
nvm.

It is what it is. Happened on Obama's watch, under his budget, therefore HIS problem. End of story. Obama deficits > Bush's. Officially now.

Yeah, it is what it is, The past 8 years of bush fuck ups...

Now, go back to sleep.

 

[charrison]

Originally posted by: LegendKiller
I don't give a shit what he racks up right now. I do give a shit what he pays back in the next 3 years.

That is the key, Clinton had it, both the "Republicans" and Democrats failed to grasp it in the last 30 years. It's funny that our most fiscally conservative president was a Democrat. Hopefully Obama learned that lesson and puts the breaks on spending once the recovery begins.

Well the recovery is starting and there is talk of second stimulus. Which would be the 3rd if you count tarp.

 

[HannibalX]

Consequently, the annual deficit rose 212% to the record dollar amount of $1.42 trillion, from $455 billion a year earlier.

Wow. Just wow.

 

[blackangst1]

Originally posted by: nobodyknows

Originally posted by: blackangst1

Originally posted by: nobodyknows

Originally posted by: blackangst1
nvm.

It is what it is. Happened on Obama's watch, under his budget, therefore HIS problem. End of story. Obama deficits > Bush's. Officially now.

but...but...but... CLINTON!!!!!

....gets credit for balancing the budget

Yep, so then Bush get's the credit for fucking up the whole thing. WTF took you so long to figure that out?

WHOOSH! Right over your head.

 

[nobodyknows]

Originally posted by: blackangst1

Originally posted by: nobodyknows

Originally posted by: blackangst1

Originally posted by: nobodyknows

Originally posted by: blackangst1
nvm.

It is what it is. Happened on Obama's watch, under his budget, therefore HIS problem. End of story. Obama deficits > Bush's. Officially now.

but...but...but... CLINTON!!!!!

....gets credit for balancing the budget

Yep, so then Bush get's the credit for fucking up the whole thing. WTF took you so long to figure that out?

WHOOSH! Right over your head.

Or yours.

 

[heyheybooboo]

Originally posted by: ProfJohn

Originally posted by: Rangoric
Wait a sec, I thought the budget for 2009 was done up starting in october 2008, before the election even took place.

Nope, the Democrats refused to present Bush with a budget prior to October 2008 knowing that they were going to win seats and most likely win the White House.

The majority of the 2009 budget was passed AFTER Obama took office therefore the own it.

You will go to no end to obfuscate the financial clusterfuck that was the voodoo econimics and budgeting of the GOP and Bush.

Until someone demonstrates how the 2001 and 2003 tax cuts were paid for, how our 'overseas contingency operations' have been paid for, Part D, LNCB, ad nauseum ...

You got nothing but propaganda, revisionist history and Fail.




But we already knew that.

Originally posted by: ProfJohn

Clinton only balanced the budget after the Republicans took over congress.

Clinton did not even talk about a balanced budget prior to 1995. Look at his inaugural address or his state of the union speeches and you will see that all he spoke of pre-1995 was reducing the deficit, but not one word about a balanced budget.

Pants on fire. That would make you a liar.


Deficit Reduction Act of 1993

"".... Ultimately every Republican in Congress voted against the bill ... ""

 

[Ausm]

YOU LIE!!!!

I guess that blows his theory out of the water