Obama's new budget to cut deficit in half

[Acanthus]

It is so difficult not to go into a frenzy about the voodoo accounting people do to blame obama for the deficit.

-The economy crashed due to regulatory failure, before obama. This reduced tax receipts by as much as 40%, depending on the state.

-The 2 wars are extremely expensive and when people talk about how "cheap / expensive" the wars have been, they do not include any of the regular DOD budget in the figure, only the special spending bills for additional war funds. They also tend to exclude the massive amount of money we spend on military contractors.

-One of the major spending increases has been for the good old Department of Homeland Security.

There ARE plenty of things you can blame Obama for.

-Failing to regulate derivatives.
-Failing to increase capital requirements for banks.
-Failing to pass legislation where banks pay into a bailout fund so the government never steps in to save them, ever again.
-Failing to increase taxes on the rich, either by raising taxes on the top bracket or creating a new bracket for $1mil+ at a higher rate.
-Failing to get meaningful healthcare regulation passed.
-Failing to pass legislation to slow or stop offshoring.

 

[Axon]

I'm a believer in wanting more stuff but not wanting to pay for it.

 

[The-Noid]

It is so difficult not to go into a frenzy about the voodoo accounting people do to blame obama for the deficit.

-The economy crashed due to regulatory failure, before obama. This reduced tax receipts by as much as 40%, depending on the state.

-The 2 wars are extremely expensive and when people talk about how "cheap / expensive" the wars have been, they do not include any of the regular DOD budget in the figure, only the special spending bills for additional war funds. They also tend to exclude the massive amount of money we spend on military contractors.

-One of the major spending increases has been for the good old Department of Homeland Security.

There ARE plenty of things you can blame Obama for.

-Failing to regulate derivatives.
-Failing to increase capital requirements for banks.
-Failing to pass legislation where banks pay into a bailout fund so the government never steps in to save them, ever again.
-Failing to increase taxes on the rich, either by raising taxes on the top bracket or creating a new bracket for $1mil+ at a higher rate.
-Failing to get meaningful healthcare regulation passed.
-Failing to pass legislation to slow or stop offshoring.

The failure is in the people. Yourself included.

Between left and right there is a middle ground. Two party, narcissistic politics will/has ruin/ruined this country.

Also, do you really believe that anyone in congress/senate could provide any kind of reasonable and meaningful regulation to derivatives and bank capital? We elect a bunch of idiots that are either articulate or likable (I have no idea how Bush got elected twice on that criteria however) Watch any testimony where the senate/house ask questions about financial products, they can't even look up from the papers they are reading long enough to look at the camera or person who is being examined.

We have elected idiots for years and unfortunately long run what will be cut is everything. The big four are only sacred until we can not longer issue more debt and as stated previously, throughout history there really isn't much warning as to when that will happen. It simply happens and the capital markets dry up on you.

This country has gotten what it deserves, I am just glad I have legally reported offshore accounts for what is coming next.

 

[Fanatical Meat]

**Necro**

Half of Obama's Deficit is still three times larger than Bush's largest deficit, lol.

Any comments on our current deficit

Unfortunately his interpretation of that means to tax everyone to close the gap rather than cut spending in any meaningful way.

Any comments on our current spending regarding taxation?

We have more people feeding at the government trough (welfare, food stamps, unemployment, etc) now more than any other time in our history.

And what good is per capita? One if five people in the country derive their income from a government job (local, state, federal) or for a company that depends on taxpayer financing. I could care less about per capita... let's talk dollar amounts here.

Taxes do not have to rise. Payroll taxes were cut 2%. Who do you think could manage that money better... me or the federal government? anytime people get to keep more of the money they earn... the better it is for our economy. Sure people put money in banks... but to think it just sits there is ludicrous. banks lend that money to businesses.

Freeze the budget... all of it. Get rid of crap like the NEA. reduce defense spending. Lots of areas to reduce spending. If the federal government can really freeze spending levels.. the CBO predicts tax revenues will rise 7% per year... eventually revenues catch up to the budget. Throw in an amendment that caps the federal budget at a fixed percentange of GDP... and we can survive... without raising taxes.

any comments about our current spending and taxation?

 

[fleshconsumed]

Man, these old Obama threads are a blast...

 

[Fanatical Meat]

Man, these old Obama threads are a blast...

I want to semi weekly bring one back. I need a suggestion for a name
Like:
In the continuing ****** saga
or
In this weeks episode of ***** (necromania?)

 

[UberNeuman]

This is what happens when a stupid / upset electorate votes for a man with no worthwhile qualifications except sloganeering.

The Obamaphiles can rail at this all they want and shout ahbuh, ahbuh, abuuuuuuush! all they want, but it doesn't change reality.

Any 8 year old kid that has run a lemonade stand has more business experience that Obama, who's only experience comes from the rabble-rousing business of 'screw the maaannn'. He has no clue how to run a country or how to interact internationally. He's a world-class failure.

This isn't an 'I hate all libs/dems/progressives' rant. I don't care where he comes from politically as far as this discussion goes. He's a cataclysmic failure.

hm. ah. yes yes.... lol. Those were the days.

 

[brycejones]

I want to semi weekly bring one back. I need a suggestion for a name
Like:
In the continuing ****** saga
or
In this weeks episode of ***** (necromania?)

All 3 of the posters you quoted have disappeared from Anandtech. Unfortunately not because they realized how wrong they were and left in embarrassment.

 

[Fanatical Meat]

All 3 of the posters you quoted have disappeared from Anandtech. Unfortunately not because they realized how wrong they were and left in embarrassment.

Who cares? See above.

 

[UberNeuman]

I want to semi weekly bring one back. I need a suggestion for a name
Like:
In the continuing ****** saga
or
In this weeks episode of ***** (necromania?)

Dude. Why do you want to be so mean to hold these people accountable for their words? You've got "conservatives" around here now blubbering about how they can't speak up because you meanie-wieenes keep reminding them of the stupid horseshit they've pumped out.

lol. Though I do enjoy the moron that keeps getting upset that Trump isn't treated nicely by the forum posters, or more to the point, people treating Trump the way he treats others.

 

[DAPUNISHER]

hm. ah. yes yes.... lol. Those were the days.

The thing I disapprove of the most about posts like the one you quoted, is that they were so disingenuous. We were only 2 years into the first term, and furthermore, everyone knew whoever won was going to have a near impossible job cleaning up after Bush. Yet here they were, trying to pass the blame to Obama already. History will show that man did good work in his 2 terms. Particularly with being bookended by two of the worst job performances in our nation's short history.

 

[zinfamous]

The thing I disapprove of the most about posts like the one you quoted, is that they were so disingenuous. We were only 2 years into the first term, and furthermore, everyone knew whoever won was going to have a near impossible job cleaning up after Bush. Yet here they were, trying to pass the blame to Obama already. History will show that man did good work in his 2 terms. Particularly with being bookended by two of the worst job performances in our nation's short history.

and that guy, FerrelGeek, still posts. Of course back then, 2 years in, it was all Obama's fault. FerrelGeek has changed for Trump of course. less than 2 years in, it is all Trump's brilliant economy. Now...well, someone else is to blame of course. Obama did the things that Trump very publically did within a year. Apparently.

These people are so preposterously transparent in their blinding fealty to derponomics.

 

[DAPUNISHER]

LULz@Derponomics!

I can only hope that some day they will escape their primitive tribalism and evaluate things more empirically and as a whole. Instead of sponging up talking points from propaganda ministers.

 

[Fanatical Meat]

Half of Obama's Deficit is still three times larger than Bush's largest deficit, lol.

This.

2020 Haha This!

have any comments about our current deficits @blackangst1

 

[Jhhnn]

All 3 of the posters you quoted have disappeared from Anandtech. Unfortunately not because they realized how wrong they were and left in embarrassment.

Yeh, but the torch was passed & still burns brightly today. Or it will, anyway, as soon as there's a Democrat in the White House.