sactoking
Diamond Member
- Sep 24, 2007
- 7,649
- 2,925
- 136
Really? Because in Bush's 8 years the deficit increased by approximately $4.3 trillion. In Obama's first year the deficit is projected to be $1.8 trillion. In 2010 Obama has proposed a $3.55 trillion budget. The highest tax revenue ever collected was $2.6 trillion in 2007 (2008 obviously is not over for tax collection). That means that in his first two years Obama is on pace to add approximately $2.7 trillion to the debt. That's about 50% of the Bush debt in 25% of the time. There's NOT a long way to go before he surpasses Bush.
Oh look, more charts that pretend Congress doesn't exist, and has no say over the spending of money! :roll:
He was OK on the credit card thing - that was a no-brainer that past GOPers and Dems should have jumped on long ago.
O&Co also did a good job by continuing to block Islamic scholar Tariq Ramadan from US
Obama lawyer sticks to ban on Muslim scholar
http://www.reuters.com/article.../idUSTRE52N6JT20090324
I might like what Obama does via student loans as long as it doesn't become political tool (highly likely)
- Oct 30, 2000
- 42,589
- 5
- 0
If Obama sticks to his deficit ways of 1.7T per year; then in 3 years he will have surpassed Bush's 8 yr mark
Hopefully he will not. The next 2 years will tell.
Beca0use he has already set precident it will be harder to back away from the temptation.
AreaCode707
Lifer
- Sep 21, 2001
- 18,447
- 133
- 106
Bush. It was under his administration that this got pushed through thoughtlessly, leaving the barn doors wide open and minimizing any subsequent questioning or fuss about adding dollars.
That's no excuse. That's the first Boberfett post that I think makes sense in a while.
The poll saying nearly half Obama is evidence of voter ignorance and bad memory.
You corrected jpeyton wrongly. The correct correction was to say that he was comparing 8 years for Bush to 1 year of Obama - his figure was the the whole 'national debt'.
Irony of the week award.
How much of the Obama budget is in the form of loans, not spending - did you subtract that from the 'debt' amount?
Fact is, Republicans - with some help from some Democrats - screwed up the ecoomy big time, and the problems they caused led to economists' recommendation for massive government spending to keep the economy functioning, to prevent an even more massive systemic collapse, and it's idiotic and wrong to blame Obama for the problems your boys caused. But predictable because right-wingers like you are all about dishonest arguments.
- Nov 20, 1999
- 22,994
- 779
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Guess what, deficits increase the debt, so they're quite related and whether the question is
"Who's more responsible for the deficit" and "Who'se more responsible for the debt", the answer would be the same when considering 2 presidents with 1 coming right after the other. Shocking, i know :Q
But if you want arguments that have zero basis in reality, you typically want to go to republicans:
http://www.youtube.com/watch?v=A3-d1wxcrHo
Patranus
Diamond Member
- Apr 15, 2007
- 9,280
- 0
- 0
Look, I am not saying everything that Bush did was great but you have to look at this objectively.
In 5 months Obama has increased spending 1.8 TRILLION dollars while wanting to spend more money.
Now, why do you think economic students in China laughed at Geithenr after he said "America is a safe investment"? Why do you think the bond auction yesterday did so poorly?
It doesn't matter what the money is spend on but the fact that the money was spent. So while Bush might have spent money on irresponsible things Obama is spending irresponsibly.
You see the difference? It is not about the quantity of money but the money being spent PLUS the previous obligations. It is irresponsible to spend more when you should be cutting back.
They are linked...yes...but not "quite related". I seem to remember Clinton claiming a budget surplus while INCREASING the debt...how did he do it? America borrowed money from itself....
In 5 months Obama has increased spending 1.8 TRILLION dollars while wanting to spend more money.
Now, why do you think economic students in China laughed at Geithenr after he said "America is a safe investment"? Why do you think the bond auction yesterday did so poorly?
It doesn't matter what the money is spend on but the fact that the money was spent. So while Bush might have spent money on irresponsible things Obama is spending irresponsibly.
You see the difference? It is not about the quantity of money but the money being spent PLUS the previous obligations. It is irresponsible to spend more when you should be cutting back.
They are linked...yes...but not "quite related". I seem to remember Clinton claiming a budget surplus while INCREASING the debt...how did he do it? America borrowed money from itself....
At the cost of what alternative course of action? Most of the pissing and moaning is about the Obama's choice of ways to deal with the carnage that was already programmed into the equation long before he took office.
They squandered trillions of dollars on their bloody war of LIES in Iraq, along with the lives of 4,311 American troops, as of 6/6/09.
They squandered trillions more by abandoning all remaining oversight over the corruption and outright theft committed by the "leaders" in the financial sector. The reduction of controls began under Reagan and was continued under Clinton, but an early expansion was expected under those administrations, and that's what we got. The Bushwhackos abandoned the last vestiges of oversight just as the worst of their criminal contributors raped the economy, and they did nothing when the warning signs becam evident.
Remember Bushie's good pal, Enron's "Kenny Boy" Lay? Remember Global Crossing? Remember all the other early collapses under clouds of scandal? Remember Jack Abramoff and Tom Delay? The list of Republican crooks and frauds is endless. And yes, there's plenty of guilt and shame to spread among Democrats, as well.
Did the Bushwhackos do anything when they saw the warning signs of the early falling bricks?
No, they were out starting specious wars and sucking up the bucks, leaving us holding the bag and the bill.
We'll have to wait to see how well Obama's plans and efforts work, and we can hold him responsible for that, but at six months into his administration, he's still cleaning up the Bushwhackos' mess.
Patranus
Diamond Member
- Apr 15, 2007
- 9,280
- 0
- 0
Originally posted by: Harvey
They squandered trillions of dollars on their bloody war of LIES in Iraq, along with the lives of 4,311 American troops, as of 6/6/09.
The current estimated cost of war in Iraq (3/20/2003-6/9/2009) is approximately 676 billion dollars, well under the "trillions" you claim.
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