Obama says trillion-dollar deficits may last years

[winnar111]

http://news.yahoo.com/s/ap/200...go_pr_wh/obama_deficit

WASHINGTON ? President-elect Barack Obama says the nation probably faces huge deficits for years to come, but heavy spending is needed now to spur the economy.

Obama said Tuesday the deficit appears on track to hit $1 trillion soon. Speaking to reporters after meeting with top economic aides, Obama said: "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."

He wants Congress to approve a stimulus plan of about $775 billion.

The federal deficit was about $455 billion when the last fiscal year ended on Sept. 30, 2008.


Wonder how much Obama's first term will beat Bush's first term, or Bush's 2nd term. I remember when Democrats were crying about $100b or so in 2002 during the recession.

 

[nageov3t]

deficits don't matter when your own party is in power.

 

[mugs]

Originally posted by: winnar111
Wonder how much Obama's first term will beat Bush's first term, or Bush's 2nd term. I remember when Democrats were crying about $100b or so in 2002 during the recession.

Not really fair to compare him to Bush's terms. The dot-com crash that Bush inherited wasn't as bad as the absolute disaster that Obama is inheriting from Bush.

 

[winnar111]

Originally posted by: mugs

Originally posted by: winnar111
Wonder how much Obama's first term will beat Bush's first term, or Bush's 2nd term. I remember when Democrats were crying about $100b or so in 2002 during the recession.

Not really fair to compare him to Bush's terms. The dot-com crash that Bush inherited wasn't as bad as the absolute disaster that Obama is inheriting from Bush.

That didnt stop lefties from comparing Clinton to Reagan or the 2 Bushes.

 

[marincounty]

I wonder if Obama will give more tax cuts to the rich, thus expoding the debt even more?

 

[wwswimming]

when you're borrowing money to pay the interest on the debt, are you technically bankrupt ?

 

[winnar111]

Originally posted by: marincounty
I wonder if Obama will give more tax cuts to the rich, thus expoding the debt even more?

What rich?

 

[heyheybooboo]

Originally posted by: winnar111
http://news.yahoo.com/s/ap/200...go_pr_wh/obama_deficit

WASHINGTON ? President-elect Barack Obama says the nation probably faces huge deficits for years to come, but heavy spending is needed now to spur the economy.

Obama said Tuesday the deficit appears on track to hit $1 trillion soon. Speaking to reporters after meeting with top economic aides, Obama said: "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."

He wants Congress to approve a stimulus plan of about $775 billion.

The federal deficit was about $455 billion when the last fiscal year ended on Sept. 30, 2008.


Wonder how much Obama's first term will beat Bush's first term, or Bush's 2nd term. I remember when Democrats were crying about $100b or so in 2002 during the recession.

And since October 1st Federal debt has increased over $600 billion ...

since January 20, 2001, Federal debt has increased over $5 trillion ...

and since supply-side VooDoo Economics the gov't has paid over $7 trillion in interest on the Federal debt.






Wonder how many partisan troll posts Weener will submit this week?

 

[theeedude]

Originally posted by: winnar111
http://news.yahoo.com/s/ap/200...go_pr_wh/obama_deficit

WASHINGTON ? President-elect Barack Obama says the nation probably faces huge deficits for years to come, but heavy spending is needed now to spur the economy.

Obama said Tuesday the deficit appears on track to hit $1 trillion soon. Speaking to reporters after meeting with top economic aides, Obama said: "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."

He wants Congress to approve a stimulus plan of about $775 billion.

The federal deficit was about $455 billion when the last fiscal year ended on Sept. 30, 2008.


Wonder how much Obama's first term will beat Bush's first term, or Bush's 2nd term. I remember when Democrats were crying about $100b or so in 2002 during the recession.

Bush's first term or second term was not in the middle of a huge global recession. There is a time to run deficits, and it is now, not 8 years ago. Balancing budget in such a recession is economic suicide.

 

[jpeyton]

Obama is already better than Bush, and he hasn't even taken office yet.

Christ, how awesome is he?

 

[winnar111]

Originally posted by: heyheybooboo

Originally posted by: winnar111
http://news.yahoo.com/s/ap/200...go_pr_wh/obama_deficit

WASHINGTON ? President-elect Barack Obama says the nation probably faces huge deficits for years to come, but heavy spending is needed now to spur the economy.

Obama said Tuesday the deficit appears on track to hit $1 trillion soon. Speaking to reporters after meeting with top economic aides, Obama said: "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."

He wants Congress to approve a stimulus plan of about $775 billion.

The federal deficit was about $455 billion when the last fiscal year ended on Sept. 30, 2008.


Wonder how much Obama's first term will beat Bush's first term, or Bush's 2nd term. I remember when Democrats were crying about $100b or so in 2002 during the recession.

And since October 1st Federal debt has increased over $600 billion ...

since January 20, 2001, Federal debt has increased over $5 trillion ...

and since supply-side VooDoo Economics the gov't has paid over $7 trillion in interest on the Federal debt.






Wonder how many partisan troll posts Weener will submit this week?

$5 trillion over 8 years is quite a bit less than a trillion a year, dontcha think?

 

[dphantom]

Originally posted by: jpeyton
Obama is already better than Bush, and he hasn't even taken office yet.

Christ, how awesome is he?

Jeez, now know how open your mind is.

 

[sandorski]

Originally posted by: winnar111

Originally posted by: heyheybooboo

Originally posted by: winnar111
http://news.yahoo.com/s/ap/200...go_pr_wh/obama_deficit

WASHINGTON ? President-elect Barack Obama says the nation probably faces huge deficits for years to come, but heavy spending is needed now to spur the economy.

Obama said Tuesday the deficit appears on track to hit $1 trillion soon. Speaking to reporters after meeting with top economic aides, Obama said: "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."

He wants Congress to approve a stimulus plan of about $775 billion.

The federal deficit was about $455 billion when the last fiscal year ended on Sept. 30, 2008.


Wonder how much Obama's first term will beat Bush's first term, or Bush's 2nd term. I remember when Democrats were crying about $100b or so in 2002 during the recession.

And since October 1st Federal debt has increased over $600 billion ...

since January 20, 2001, Federal debt has increased over $5 trillion ...

and since supply-side VooDoo Economics the gov't has paid over $7 trillion in interest on the Federal debt.






Wonder how many partisan troll posts Weener will submit this week?

$5 trillion over 8 years is quite a bit less than a trillion a year, dontcha think?

Depends. How many years are we talking?

 

[Harvey]

Originally posted by: loozar111

Wonder how much Obama's first term will beat Bush's first term, or Bush's 2nd term. I remember when Democrats were crying about $100b or so in 2002 during the recession.

The more relevant question is, who's responsible for causing the problems that demand that much money to fix?

The Bushwhackos committed the nation to trillions of dollars of current and future debt (along with thousands of lives) when they launched their illegal war of LIES in Iraq, and they squandered trillions more when they dismantled all regulation and abandoned any remaining oversight over their wealthy Wall Street robber baron contributors failure.

They're the ones who left us with the problems. Now that those turds are skulking off into the sunset, don't start blaming the Obama adminstration for the cost of the mess the Bushies left in their wake. :roll:

 

[GTaudiophile]

Originally posted by: wwswimming
when you're borrowing money to pay the interest on the debt, are you technically bankrupt ?

Yep. The USA is broke.

 

[Zebo]

We need to seize the top 1%'s money. They own 28% of nations wealth and most did so by hook and crook. Thats the only way we will fix these issues and save country. Instead Obama is bought and sold by same crowd who will get rich beyond belief getting infrastructure contracts instead of trickling down. Sorry but thats reality of kelptocracy in which we live.

http://kelsocartography.com/blog/?p=1320

Bush has ruined the country financially beyond repair (FUBAR) to the tune of 10 trillion which is unrecoverable unless drastic measures are taken. Obama's plans about HC, education etc can't happen due to financial constraints the past admins, especially Bush put on him.

 

[JS80]

Originally posted by: Zebo
We need to seize the top 1%'s money. They own 28% of nations wealth and most did so by hook and crook. Thats the only way we will fix these issues and save country. Instead Obama is bought and sold by same crowd who will get rich beyond belief getting infrastructure contracts instead of trickling down. Sorry but thats reality of kelptocracy in which we live.

http://kelsocartography.com/blog/?p=1320

Do you realize what kind of effect and consequence that would have? It would literally be the beginning of the end of this country.

 

[winnar111]

Originally posted by: sandorski

Originally posted by: winnar111

Originally posted by: heyheybooboo

Originally posted by: winnar111
http://news.yahoo.com/s/ap/200...go_pr_wh/obama_deficit

WASHINGTON ? President-elect Barack Obama says the nation probably faces huge deficits for years to come, but heavy spending is needed now to spur the economy.

Obama said Tuesday the deficit appears on track to hit $1 trillion soon. Speaking to reporters after meeting with top economic aides, Obama said: "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."

He wants Congress to approve a stimulus plan of about $775 billion.

The federal deficit was about $455 billion when the last fiscal year ended on Sept. 30, 2008.


Wonder how much Obama's first term will beat Bush's first term, or Bush's 2nd term. I remember when Democrats were crying about $100b or so in 2002 during the recession.

And since October 1st Federal debt has increased over $600 billion ...

since January 20, 2001, Federal debt has increased over $5 trillion ...

and since supply-side VooDoo Economics the gov't has paid over $7 trillion in interest on the Federal debt.






Wonder how many partisan troll posts Weener will submit this week?

$5 trillion over 8 years is quite a bit less than a trillion a year, dontcha think?

Depends. How many years are we talking?

Years, plural, must be at least 2, and $2 trillion thru 2009 and 2010 probably means more than $2.5 trillion over his first term.

You tell me, though. He's your hero.

 

[imported_K3N]

Obama will make Jimmy Cater's administration look as joyful as the Bill Clinton years.

Obama The Post Modern Coup : Making of a Manchurian Candidate, is quite possibly the most griming book you will ever read.

http://www.google.com/search?h...oad&btnG=Google+Search

 

[Zebo]

Originally posted by: JS80

Originally posted by: Zebo
We need to seize the top 1%'s money. They own 28% of nations wealth and most did so by hook and crook. Thats the only way we will fix these issues and save country. Instead Obama is bought and sold by same crowd who will get rich beyond belief getting infrastructure contracts instead of trickling down. Sorry but thats reality of kelptocracy in which we live.

http://kelsocartography.com/blog/?p=1320

Do you realize what kind of effect and consequence that would have? It would literally be the beginning of the end of this country.

I think it would be just the beginning of a great America instead of soon to be cast system we have been moving towards.

 

[winnar111]

Originally posted by: JS80

Originally posted by: Zebo
We need to seize the top 1%'s money. They own 28% of nations wealth and most did so by hook and crook. Thats the only way we will fix these issues and save country. Instead Obama is bought and sold by same crowd who will get rich beyond belief getting infrastructure contracts instead of trickling down. Sorry but thats reality of kelptocracy in which we live.

http://kelsocartography.com/blog/?p=1320

Do you realize what kind of effect and consequence that would have? It would literally be the beginning of the end of this country.

Lies, damn lies, and statistics, especially when they count stuff up to 2018 and move it back to the current President.

Apparently future interest on new debt is rolled back to Bush, but current interest on past debt isn't rolled back to Clinton. And apparently Medicare Part D is rolled back, but Medicare Part A and B aren't.

Shrug.

 

[babylon5]

trillion dollars + interests

Beautiful

 

[BoberFett]

Originally posted by: Zebo

Originally posted by: JS80

Originally posted by: Zebo
We need to seize the top 1%'s money. They own 28% of nations wealth and most did so by hook and crook. Thats the only way we will fix these issues and save country. Instead Obama is bought and sold by same crowd who will get rich beyond belief getting infrastructure contracts instead of trickling down. Sorry but thats reality of kelptocracy in which we live.

http://kelsocartography.com/blog/?p=1320

Do you realize what kind of effect and consequence that would have? It would literally be the beginning of the end of this country.

I think it would be just the beginning of a great America instead of soon to be cast system we have been moving towards.

Until they come for the next top 1%. And the next. And the next. And the next. And the next.

Tax the rich, feed the poor
Till there are no rich no more

That about right? Who feeds the poor after that?

Besides, do you really think the top 1% swim in vaults full of money? That money is in your home. Your company. In order to get at that money in liquid form they'd have to call all of the debts in currently held by that top 1%. Tens of millions would be instantly out of work and out of their homes.

If you want to stop the rich from getting richer, stop borrowing from them. Same goes for every American.

 

[heyheybooboo]

Originally posted by: winnar111

Originally posted by: heyheybooboo

Originally posted by: winnar111
http://news.yahoo.com/s/ap/200...go_pr_wh/obama_deficit

WASHINGTON ? President-elect Barack Obama says the nation probably faces huge deficits for years to come, but heavy spending is needed now to spur the economy.

Obama said Tuesday the deficit appears on track to hit $1 trillion soon. Speaking to reporters after meeting with top economic aides, Obama said: "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."

He wants Congress to approve a stimulus plan of about $775 billion.

The federal deficit was about $455 billion when the last fiscal year ended on Sept. 30, 2008.


Wonder how much Obama's first term will beat Bush's first term, or Bush's 2nd term. I remember when Democrats were crying about $100b or so in 2002 during the recession.

And since October 1st Federal debt has increased over $600 billion ...

since January 20, 2001, Federal debt has increased over $5 trillion ...

and since supply-side VooDoo Economics the gov't has paid over $7 trillion in interest on the Federal debt.






Wonder how many partisan troll posts Weener will submit this week?

$5 trillion over 8 years is quite a bit less than a trillion a year, dontcha think?

President Obama is inheriting an annual budget deficit of nearly $1 trillion. George Boosh inherited an annual budget surplus of $250 billion.

I will not say "do not you think?" for Shirley you don't ...

Troll Boy.

 

[TehMac]

It's weird how so many people take everything Obama says as the gospel. Since when did he have a P.h.D. in economics?