Poll: Obama and the deficit

[XZeroII]

Let's all ignore the fact that the president actually doesn't spend the money, but policy can influence spending to some degree.

Also keep in mind that we have a full majority of Democrats all around the government. (not a super majority though).

Where will we be after 4 years?

 

[Moonbeam]

I, like everbody else here, have no idea.

 

[ProfJohn]

It will go up.

There is nothing in Obama's agenda or record that suggests he plans to cut spending.

 

[frostedflakes]

Unfortunately, it will probably go up quite a bit. And I've been hearing that he's going to wait until the economy gets better to raise income and capital gains taxes to try and pay for some of his programs. I don't know if this is something him or his staff mentioned, or just conjecture. I wouldn't be surprised if it's true, though. I don't think even a tax happy Democrat would consider raising taxes during a time of economic hardship.

So I guess for the first four years, up up up. If he gets a second term, he'll probably start to chip away at it by the end of that.

 

[Slew Foot]

Increased spending while tax revenues decline in a recession? Projections are for trillion+ dollar deficits for at least a couple years, but then again, you cant really ttrust the guys making the projections.

 

[charrison]

Depends on what you mean. In unadjusted dollars it will go up. In adjusted dollars it will probably go way up until the economic situation settles down. And after that it will probably starts to fall as the economy improves.


But there is little doubt that Oboma will preside over the first 3T budget.

 

[Jaskalas]

Depends on where the money for all his new programs is going to come from. Do we grow money trees in the backyard of the white house?

 

[heyheybooboo]

James Clyburn implied a focus on the Federal deficit/debt on MTP this AM. Obama has pledged to follow PayGo guidelines. The Federal debt has in increased $1.617 trillion since Sept 30, 2007.

It would be nice to get some 'straight talk' on the recession and the status of our national and global financial institutions. I fear we are in for a rough ride over the next few years (but am hoping for the best...).

 

[heyheybooboo]

brain fahtage

 

[Farang]

If it goes up there is going to be a huge door open for the Republicans in 2012 so I think there is going to be a focused effort to bring it down. Following Clinton and Bush it would let the Democrats claim to be the party of fiscal responsibility.

 

[frostedflakes]

Originally posted by: Farang
If it goes up there is going to be a huge door open for the Republicans in 2012 so I think there is going to be a focused effort to bring it down. Following Clinton and Bush it would let the Democrats claim to be the party of fiscal responsibility.

Do most Americans really care about the deficit, though? I mean a lot of people might say they do, but I don't think it's something they base their vote on.

I doubt Obama could do anything to significantly reduce the deficit in four years, especially with all the priorities he has. What he does with the economy, health care, foreign policy, etc. is what will decide his fate in 2012. If people start to see big improvement in these areas, I have no doubt he will be re-elected, regardless of the deficit.

 

[JohnnyGage]

I initially thought it was a rhetorical question.

 

[Farang]

Originally posted by: frostedflakes

Originally posted by: Farang
If it goes up there is going to be a huge door open for the Republicans in 2012 so I think there is going to be a focused effort to bring it down. Following Clinton and Bush it would let the Democrats claim to be the party of fiscal responsibility.

Do most Americans really care about the deficit, though? I mean a lot of people might say they do, but I don't think it's something they base their vote on.

I doubt Obama could do anything to significantly reduce the deficit in four years, especially with all the priorities he has. What he does with the economy, health care, foreign policy, etc. is what will decide his fate in 2012. If people start to see big improvement in these areas, I have no doubt he will be re-elected, regardless of the deficit.

More specifically what I mean is he needs to not spend as much as Bush, then he will still have an argument in 2012 on the deficit. That may be possible but it depends on how quick we get out of Iraq.

I think most people do care, spending is a big issue because it makes people afraid their taxes will go up.

 

[Kaieye]

Originally posted by: ProfJohn
It will go up.

There is nothing in Obama's agenda or record that suggests he plans to cut spending.

Agreed!

 

[MonkeyK]

I don't think that the brakes can be applied that fast. All that I am hoping for over the next four years is that our rate of increase will significantly decrease

 

[frostedflakes]

Originally posted by: Farang

Originally posted by: frostedflakes

Originally posted by: Farang
If it goes up there is going to be a huge door open for the Republicans in 2012 so I think there is going to be a focused effort to bring it down. Following Clinton and Bush it would let the Democrats claim to be the party of fiscal responsibility.

Do most Americans really care about the deficit, though? I mean a lot of people might say they do, but I don't think it's something they base their vote on.

I doubt Obama could do anything to significantly reduce the deficit in four years, especially with all the priorities he has. What he does with the economy, health care, foreign policy, etc. is what will decide his fate in 2012. If people start to see big improvement in these areas, I have no doubt he will be re-elected, regardless of the deficit.

More specifically what I mean is he needs to not spend as much as Bush, then he will still have an argument in 2012 on the deficit. That may be possible but it depends on how quick we get out of Iraq.

I think most people do care, spending is a big issue because it makes people afraid their taxes will go up.

I think one of the big problems with GWB's spending is where it went, though. Huge amounts of money were dumped into the MIC, and average Americans don't really get anything tangible in return. It's welfare for the Iraqis, defense contractors, etc. If Obama dumps money into the economy and infrastructure and Americans can see a measurable improvement in their lives because of it, I think they'd be more willing to overlook big government spending than they were with Bush.

 

[Ballatician]

Originally posted by: Kaieye

Originally posted by: ProfJohn
It will go up.

There is nothing in Obama's agenda or record that suggests he plans to cut spending.

Agreed!

You mean like cutting wasteful spending?

I of course hope it will go down but don't see that happening in the first term at least.

From factcheck

It's certainly true that Obama's proposed spending is higher than his projected revenues, and Obama has made no secret of the fact that his plan will not result in balanced budgets for the next four years. According to the Tax Policy Center, without spending cuts elsewhere, Obama's proposals could increase the projected debt to $5.9 trillion over 10 years. The McCain-Palin campaign is certainly entitled to argue that that level of debt is unsustainable and that Obama would therefore have to raise taxes.

That, however, is a dangerous argument. The same Tax Policy Center analysis shows that McCain's proposals could raise the debt to $7.4 trillion over 10 years. And while McCain has promised to balance the budget by 2013, the Tax Policy Center notes that doing so would require a 25 percent reduction in federal spending. Few economists outside the McCain-Palin campaign think that is a feasible goal. So, by the ad's logic, Obama could just as easily claim that McCain supports a massive tax increase. But if he did he would have no more justification than McCain does for this ad.

 

[Kirby]

I imagine it'll go down when/if the economy picks up.

Until then, NOPE!

 

[winnar111]

Obama's 4 year deficit will be higher than either of Bush's terms.

 

[woodie1]

Originally posted by: Kaieye

Originally posted by: ProfJohn
It will go up.

There is nothing in Obama's agenda or record that suggests he plans to cut spending.

Agreed!

X2

 

[miketheidiot]

depends if the tax cuts get through, and which, if any of his proposals make it through

 

[Darwin333]

Is this a serious question? Have you heard or read anything he has said?

 

[Balt]

Balancing the budget given the recession we are about to enter isn't really realistic. Even if Obama added no spending, Bush has us committed to too many expenditures.

 

[eits]

Originally posted by: ProfJohn
It will go up.

There is nothing in Obama's agenda or record that suggests he plans to cut spending.

... i'm shocked you would say this.

 

[Jhhnn]

Federal debt will continue to accumulate, at least for several years.

That's already written in stone by the actions of the Bush Admin. Nobody can change the past, although I'm sure Righties will attempt to revise history to suit their purposes.

Iraq and Afghanistan- Ka-Ching!

Huge military contracts- Ka-Ching!

Senior Drug benefit- Ka-Ching!

Homeland Security- Ka-Ching!

NMD- Ka-Ching!

Fannie, Freddie, AIG and the rest- Ka-Ching! Ka-Ching! Ka-Ching!!!

We'll have the dead hand of the Bushistas at the helm for some while, which is what they wanted all along. It's a variant on the Starve the Beast scenario- grow the beast so large that it can't be fed...