Obama to hike 10-year deficit to $9 trillion

[Vic]

Originally posted by: MrMatt

Originally posted by: Harvey

Originally posted by: Patranus

So your solution is to borrow and spend to spur borrowing and spending to fix the problems brought on by too much borrowing and spending?

We don't have any choice about dealing with the debt the Bushwhackos laid on us. We've got lots of threads discussing what to do about it, and I'm sure there will be more.

yes. yes we do. Let businesses that fail...fail. Let people who were retards and bought more house than they could afford...lose their houses. That's the fuckin point of our economy. Or was until the retard-in-chief was elected last year.

I'm sorry... who passed TARP?

 

[StageLeft]

I honestly don't think anybody in power or the millions who support those currently in power give a crap. There just is no other good explanation for how quickly the US is ramping up its debt. But then when you take a nation of debtees, naturally their elected leadership is a reflection of their own poor sense.

 

[Schadenfroh]

Originally posted by: Red Dawn
Well I know how we could reduce debt, stop all foreign aide, close bases around the world and drastically cut back on the military budget. Let someone else be the "Worlds Policeman"

I agree, but the cost of protecting our allies is not payed entirely by the US taxpayer. Some of the host countries subsidize the US presence, like Japan. Still, the current military budget is rather excessive given the "relative" peace in the west and the current economic conditions.

We definitely need a broad spending reduction across many departments of the federal government. Heck, some departments could be axed and merged with others to reduce bureaucracy (Department of Homeland Security anyone?). I am likely ignorant of the following situation, but I do not understand why the Air Force needs to be separated from the Army.

We also need to raise taxes across the board once the economy stabilizes. I do not like the idea of so much money going into interest payments.

I honestly don't think anybody in power or the millions who support those currently in power give a crap. There just is no other good explanation for how quickly the US is ramping up its debt. But then when you take a nation of debtees, naturally their elected leadership is a reflection of their own poor sense.

Unfortunately, I think you are correct.

 

[Patranus]

Originally posted by: Vic
I'm sorry... who passed TARP?

Who passed it?
That would be CONGRESS.

Who controls congress?
That would be DEMOCRATS.

 

[Schadenfroh]

Originally posted by: Patranus

Originally posted by: Vic
I'm sorry... who passed TARP?

Who passed it?
That would be CONGRESS.

Who controls congress?
That would be DEMOCRATS.

Yes, but Bush signed it instead of vetoing it. The "blame" is shared. Although that might have been the intention of your post.

 

[Vic]

Originally posted by: Schadenfroh

Originally posted by: Patranus

Originally posted by: Vic
I'm sorry... who passed TARP?

Who passed it?
That would be CONGRESS.

Who controls congress?
That would be DEMOCRATS.

Yes, but Bush signed it instead of vetoing it. The "blame" is shared. Although that might have been the intention of your post.

Bush didn't just sign it, he and his administration wrote it, then lobbied for it and pushed for it.

Patranus is your typical partisan hack. If it can be spun (and most everything can), he'll not only spin it but believe the spin.

 

[ZeGermans]

Originally posted by: Patranus

Who passed it?
That would be CONGRESS.

Who controls congress?
That would be DEMOCRATS.

Utter lack of knowledge of how our governmental branches work? From a conservative? I'm shocked.

 

[ZeGermans]

Originally posted by: OCguy
Maybe you should tell them to hate "gays and brown people" too.

Given the attitudes and average intelligence of military members, I'd say they already have those bases covered.

 

[OrByte]

Originally posted by: Vic

Originally posted by: spidey07
Worst president in the history of our union. And it's only been barely 8 months.

How come you never complained about Bush's deficits? That was somehow different, right?

Oh, and about the 8 months, FY2009 goes down as Bush's budget. And deficit.. Obama's first budget isn't until FY2010. You might want to get a clue. But wait! that might stop you from trolling your nonsensical partisan hackeries! What was I thinking? Carry on...

:thumbsup:

 

[OrByte]

Originally posted by: Vic
Hmm... I wonder how many GOP wingnuts here are blaming Obama for this year's budget deficit yet still blame Clinton for 9/11? It never ceases to amaze me the leaps of irrational illogic that partisans will jump to. No wait, I forgot, nothing tops the time when piasabird blamed Obama for forcing the BofA/ML merger which was finalized 1/1/09.

:thumbsup: x2

 

[ZeGermans]

Originally posted by: sactoking
A defense budget of $0 is equal to that of Iceland, less than that of East Timor, and the equivalent of a big sign saying "Hey radicals, come blow us up!"

Radicals would not attack us if our imperialist policies hadn't oppressed them under dictators for a century.

Unless you're one of those THAY HATE ARE FREEDOMES people.

 

[Red Dawn]

Originally posted by: Fenixgoon

Originally posted by: Red Dawn
Well I know how we could reduce debt, stop all foreign aide, close bases around the world and drastically cut back on the military budget. Let someone else be the "Worlds Policeman"

http://en.wikipedia.org/wiki/2..._States_federal_budget

social welfare far exceeds military spending. Just over $1.2T for SS, medicare, medicaid. $700B for DoD.

Yeah and who said it did't? I just pointed out a way we could reduce dept. Would you rather we continue to give money to the Paks, Israelis, the Hobbits in Honduras and Borat in Georgia or do away with SS, Meidcare, Medicaid and watch grandmother and grandfather die in poverty?

 

[blackangst1]

Originally posted by: Red Dawn

Originally posted by: Fenixgoon

Originally posted by: Red Dawn
Well I know how we could reduce debt, stop all foreign aide, close bases around the world and drastically cut back on the military budget. Let someone else be the "Worlds Policeman"

http://en.wikipedia.org/wiki/2..._States_federal_budget

social welfare far exceeds military spending. Just over $1.2T for SS, medicare, medicaid. $700B for DoD.

Yeah and who said it did't? I just pointed out a way we could reduce dept. Would you rather we continue to give money to the Paks, Israelis, the Hobbits in Honduras and Borat in Georgia or do away with SS, Meidcare, Medicaid and watch grandmother and grandfather die in poverty?

Those are the only two options? eek

 

[OCGuy]

Originally posted by: ZeGermans

Originally posted by: Patranus

Who passed it?
That would be CONGRESS.

Who controls congress?
That would be DEMOCRATS.

Utter lack of knowledge of how our governmental branches work? From a conservative? I'm shocked.

Your profile says you are from Missouri. Not exactly the hotbed of brains in the US. Watch that glass house

 

[boomerang]

Originally posted by: Skoorb
I honestly don't think anybody in power or the millions who support those currently in power give a crap. There just is no other good explanation for how quickly the US is ramping up its debt. But then when you take a nation of debtees, naturally their elected leadership is a reflection of their own poor sense.

In order to build up what you want, you sometimes have to tear down what you have. Despite the fact that the majority of those in the U.S. (in poll after poll) do not support the agenda of the far left, the President, the Congress, the Czars, et al, have an agenda. They're rolling it out at lightening speed.

It may look like madness to many but it's not to them. The playbook is being followed. It's fairness, its justice, it's getting what they've had coming. Best of all, those rich mother fuckers are going to pay for it all. If the cost is the destruction of the economy, hell, the country, it?s just the price that has to be paid.

Failed policies rolled out as new and fresh to a wide eyed generation that knows no better. A generation raised on textbooks that have been sanitized. Textbooks revamped to show the defenders as bad and the antagonists as good. These policies are embraced by both the young that hope for a utopian world and the old and bitter whose dreams were never fulfilled.

The leaders care all right. With the exception of some pesky folks that would actually like the Constitution adhered to and followed, everything is going right according to plan.

 

[Engineer]

Originally posted by: Skoorb
I honestly don't think anybody in power or the millions who support those currently in power give a crap. There just is no other good explanation for how quickly the US is ramping up its debt. But then when you take a nation of debtees, naturally their elected leadership is a reflection of their own poor sense.

To be honest, it's not just those "currently" in power. I don't think that either side cares until the other side is in power so it's just in freefall as far as fiscal conservatism and responsibility. Deficits don't matter (until the other side is in power).

 

[umbrella39]

Originally posted by: spidey07
Worst president in the history of our union. And it's only been barely 8 months.

FOAD.

 

[umbrella39]

Originally posted by: Patranus

Originally posted by: marincounty
Or he could just lie like Republicans and claim surpluses as far as the eye can see.
Another round of tax cuts should fix this.

I believe that it was Clinton who borrowed money from ourselves and then claimed to have a surplus.

But but but clinton there Zed? More transparency please. You Sally's are so woefully predictable you should be detained before you hurt yourselves with your new found sense of economic sensibility. I didn't think you fucks could be any more repugnant than you were during the keyboard soldier days but you have managed to do it and the country is STILL watching and taking notes. No one has forgotten where your ILK got us and where you ILK continue to try and take us. Rot.

 

[Chunkee]

This is part of the plan...I love how you momos argue the party aspect.

Pharoah - Part ?

 

[Fenixgoon]

Originally posted by: umbrella39

Originally posted by: Patranus

Originally posted by: marincounty
Or he could just lie like Republicans and claim surpluses as far as the eye can see.
Another round of tax cuts should fix this.

I believe that it was Clinton who borrowed money from ourselves and then claimed to have a surplus.

But but but clinton there Zed? More transparency please. You Sally's are so woefully predictable you should be detained before you hurt yourselves with your new found sense of economic sensibility. I didn't think you fucks could be any more repugnant than you were during the keyboard soldier days but you have managed to do it and the country is STILL watching and taking notes. No one has forgotten where your ILK got us and where you ILK continue to try and take us. Rot.

you do realize that a predicted surplus is just that.. predicted. it's like saying i will get another paycheck it two weeks. it's predicted, but it's not really mine until it actually arrives. spending eliminated said surplus (like congress would do anything otherwise given more money, rep or dem)

here's an interesting tidbit of history - andrew jackson paid off all of the US's debts during his presidency. the second he left office, congress started racking up the debt again.

 

[Druidx]

Two things I don't understand.
* How can the projected deficit grow after Obama's team identified $100 million in spending cuts?

* The CBO originally predicted a 9.1T deficit. In an attempt to minimized the effect of their spending, the Obama administration chuckled at that number and said it would ONLY be 7.1T. Now the Obama administration admits it will be 9 Trillion. If the Repugs had done that, people here screaming about lies and conspiracy. So why do the same people have no problem with the Obama "do-over" on the deficit predictions?

 

[rbV5]

Originally posted by: Fenixgoon

Originally posted by: umbrella39

Originally posted by: Patranus

Originally posted by: marincounty
Or he could just lie like Republicans and claim surpluses as far as the eye can see.
Another round of tax cuts should fix this.

I believe that it was Clinton who borrowed money from ourselves and then claimed to have a surplus.

But but but clinton there Zed? More transparency please. You Sally's are so woefully predictable you should be detained before you hurt yourselves with your new found sense of economic sensibility. I didn't think you fucks could be any more repugnant than you were during the keyboard soldier days but you have managed to do it and the country is STILL watching and taking notes. No one has forgotten where your ILK got us and where you ILK continue to try and take us. Rot.

you do realize that a predicted surplus is just that.. predicted. it's like saying i will get another paycheck it two weeks. it's predicted, but it's not really mine until it actually arrives. spending eliminated said surplus (like congress would do anything otherwise given more money, rep or dem)

here's an interesting tidbit of history - andrew jackson paid off all of the US's debts during his presidency. the second he left office, congress started racking up the debt again.

Andrew Jackson created economic panic and a depression.

 

[boomerang]

Originally posted by: Druidx
Two things I don't understand.
* How can the projected deficit grow after Obama's team identified $100 million in spending cuts?

* The CBO originally predicted a 9.1T deficit. In an attempt to minimized the effect of their spending, the Obama administration chuckled at that number and said it would ONLY be 7.1T. Now the Obama administration admits it will be 9 Trillion. If the Repugs had done that, people here screaming about lies and conspiracy. So why do the same people have no problem with the Obama "do-over" on the deficit predictions?

I'm hoping the first question is tongue-in-cheek.

As to the second, the monumental deficit spending is for programs they believe the country needs. They're the must-dos of a long wish list that's grown over the years. It doesn't matter what the cost is because the thought processes behind them are not based on hard data and common sense. They are instead based on "feelings". Deficit's of this unprecedented size would be criminal if "their" candidate was not it office. Their candidate is, so there is no problem.

BTW, these same folks will be crying big tears when inflation is in the high double digits. They'll be calling for yet more spending to correct that. When you spend 100, 1000 or 10,000 times more than you have, you still have to pay it back. You can generate more income or inflate the value of everything. In this case it will be both. We end up in a death spiral with no end in sight. Taxes are raised reducing the buying power of the public and in conjunction the cost of goods and services is through the roof. Unemployment remains at staggering levels. It's a big steaming bowl of not good. Eventually, someone gets in power that will take the necessary painful steps to start reversing the trend. It starts with cutting taxes. The left hates it, the right loves it and the cycle goes on and on and on.

But we've never seen deficit spending at these astronomical levels. We're in uncharted territory. When individuals get this far behind the eight ball, they declare bankruptcy. What does a country do?

From April of this year.

If you take out a 30 year mortgage you know the exact timeframe it will take to pay it back. How long will it take to pay back 9.1T? Not in my lifetime - that's for certain. Whatever happens means little to me. I won't be the one that has to pay it back.

Here's what a trillion looks like.

 

[ElFenix]

Originally posted by: Red Dawn
Yeah and who said it did't? I just pointed out a way we could reduce dept. Would you rather we continue to give money to the Paks, Israelis, the Hobbits in Honduras and Borat in Georgia or do away with SS, Meidcare, Medicaid and watch grandmother and grandfather die in poverty?

if you sort wealth by age group, SS recipients are the wealthiest group in the country.

 

[Jaskalas]

Originally posted by: her209
So lets do nothing!

Jump off cliff, or do nothing? Gee...