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Direckshun
06-10-2009, 07:23 PM
http://www.nytimes.com/interactive/2009/06/09/business/economy/20090610-leonhardt-graphic.html

How Trillion-Dollar Deficits Were Created

To understand the looming deficits, The New York Times analyzed Congressional Budget Office projections of the budget surplus or deficit for the years 2009-12, President Obama’s current term. The budget office has been making estimates for these years for nearly a decade now. The numbers that appear below are the average annual deficit or surplus for this four-year period.

http://graphics8.nytimes.com/packages/images/newsgraphics/2009/0610-leonhardt/0610-web-leonhardt.gif

Direckshun
06-10-2009, 07:35 PM
http://www.nytimes.com/2009/06/10/business/economy/10leonhardt.html?_r=2&hp

About 33 percent of the swing stems from new legislation signed by Mr. Bush. That legislation, like his tax cuts and the Medicare prescription drug benefit, not only continue to cost the government but have also increased interest payments on the national debt.

Mr. Obama’s main contribution to the deficit is his extension of several Bush policies, like the Iraq war and tax cuts for households making less than $250,000. Such policies — together with the Wall Street bailout, which was signed by Mr. Bush and supported by Mr. Obama — account for 20 percent of the swing.

About 7 percent comes from the stimulus bill that Mr. Obama signed in February. And only 3 percent comes from Mr. Obama’s agenda on health care, education, energy and other areas.

If the analysis is extended further into the future, well beyond 2012, the Obama agenda accounts for only a slightly higher share of the projected deficits.

Bowser
06-10-2009, 07:36 PM
This ought to be entertaining.

BucEyedPea
06-10-2009, 07:50 PM
All of us.

HonestChieffan
06-10-2009, 08:03 PM
Freaking Taxpayers. We are responsible for it.

banyon
06-10-2009, 08:04 PM
It's Congress and cowardice.

Presidents have signed off, but at least Clinton tried to fight back with the LIV.

KILLER_CLOWN
06-10-2009, 08:12 PM
Federal Reserve.

Amnorix
06-11-2009, 08:45 AM
All of us.

Alot of truth in this, actually.

donkhater
06-11-2009, 09:07 AM
Well, I'll say this. Since the answer to this question is so ambiguous, that should tell us right there why we have a deficit in the first place. No one in government claims responsibility for it because it's NOT THEIR MONEY.

Yet, the solution to paying down the debt and balancing the budget is to give them MORE money and allow them to print money? What kind of backwards logic is that?

Since no one on Capital Hill wants to claim responsibility, we, the taxpayer need to take responsibilities from them.

SBK
06-11-2009, 09:40 AM
This is easy. The deficit has always been the fault of George W. Bush.

Everyone we've ever had, or ever will.

And AIDS is his fault too.
Posted via Mobile Device

HC_Chief
06-11-2009, 09:45 AM
This is easy. The deficit has always been the fault of George W. Bush.

Everyone we've ever had, or ever will.

And AIDS is his fault too.
Posted via Mobile Device

Poor BHO; inherrited the whole mess. tsk tsk

BigRedChief
06-11-2009, 10:24 AM
repost:
http://www.chiefsplanet.com/BB/showthread.php?t=208838

KC native
06-11-2009, 10:42 AM
Marion Berry's crack habit. That's waht caused our deficits. Jeez, you guys are slow.

Calcountry
06-11-2009, 10:54 AM
It's Bush's fault. No seriously, it's Bush's fault. He fugged up so bad, that the country was stupid enough to turn a blind eye to a Marxist and elect him President of the United States.

Now, that man is completely CHANGING our country from a Capitalist/soc economy, to a Soc/marxist economy.

Mr. Kotter
06-11-2009, 11:05 AM
It's Congress and cowardice.

Presidents have signed off, but at least Clinton tried to fight back with the LIV.

This.

In fairness, the Republican Congress of the 90s pushed Clinton along....

|Zach|
06-11-2009, 11:13 AM
This is easy. The deficit has always been the fault of George W. Bush.

Everyone we've ever had, or ever will.

And AIDS is his fault too.
Posted via Mobile Device

Silly me, I actually thought this might spawn some kind of discussion. LMAO
:hmmm:

***SPRAYER
06-11-2009, 11:45 AM
http://www.moonbattery.com/obama-red.jpg

Calcountry
06-11-2009, 01:03 PM
http://www.moonbattery.com/obama-red.jpgHow long before Congress enacts a new National Anthem?

Garcia Bronco
06-11-2009, 02:21 PM
All of us.

Nail meet head.

Garcia Bronco
06-11-2009, 02:23 PM
This.

In fairness, the Republican Congress of the 90s pushed Clinton along....

Yeah...pushed him to sign the GLB, which isn't deficit related until the bailouts started rolling along. In retorspect probably the worst blunder by a President in the last half century.

patteeu
06-11-2009, 02:38 PM
http://www.nytimes.com/2009/06/10/business/economy/10leonhardt.html?_r=2&hp

About 33 percent of the swing stems from new legislation signed by Mr. Bush. That legislation, like his tax cuts and the Medicare prescription drug benefit, not only continue to cost the government but have also increased interest payments on the national debt.

Mr. Obama’s main contribution to the deficit is his extension of several Bush policies, like the Iraq war and tax cuts for households making less than $250,000. Such policies — together with the Wall Street bailout, which was signed by Mr. Bush and supported by Mr. Obama — account for 20 percent of the swing.

About 7 percent comes from the stimulus bill that Mr. Obama signed in February. And only 3 percent comes from Mr. Obama’s agenda on health care, education, energy and other areas.

If the analysis is extended further into the future, well beyond 2012, the Obama agenda accounts for only a slightly higher share of the projected deficits.

1. The "current recession" component in your graphic ought to be in the space shared by Bush and Obama.

2. Even with the generous treatment that absolves Obama of any responsibility for the current recession, Obama's contribution to the deficit according to your graphic is over $600 billion. That alone exceeds the size of ANY deficit from 2001 to 2008 (and in fact may be larger than any deficit in the history of the country, although I haven't researched that).

3. Obama wasn't in office at the time, but democrats wanted an EVEN MORE COSTLY prescription drug program than GWBush.

4. Obama isn't done yet.

patteeu
06-11-2009, 02:39 PM
Alot of truth in this, actually.

I agree.

SBK
06-11-2009, 09:43 PM
How long before Congress enacts a new National Anthem?

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SBK
06-11-2009, 09:44 PM
:hmmm:

Stalking me again? I told you before, I'm not interested in a relationship Zach.

BigRedChief
06-12-2009, 07:03 AM
1. The "current recession" component in your graphic ought to be in the space shared by Bush and Obama.

2. Even with the generous treatment that absolves Obama of any responsibility for the current recession, Obama's contribution to the deficit according to your graphic is over $600 billion.
So this recession is Obama's? Something that started a year and a half before he was elected?LMAO

patteeu
06-12-2009, 08:02 AM
So this recession is Obama's? Something that started a year and a half before he was elected?LMAO

So far, he seems to be making it worse.

BigRedChief
06-12-2009, 08:08 AM
So far, he seems to be making it worse.
yeah try selling that to someone thats not hard core Republican.

You need to stick with the economy would have got better on its own without Obama's programs that balloned up the deficit. But wait....now the figures are showing that its congress(prior to Obama) and Bush thats the cause of the bulk of the deficit.

Maybe you guys can go back to the birth certificate angle?

stevieray
06-12-2009, 08:09 AM
Maybe you guys can go back to the birth certificate angle?
...the one that says dubya in the box marked race?

patteeu
06-12-2009, 08:13 AM
yeah try selling that to someone thats not hard core Republican.

You need to stick with the economy would have got better on its own without Obama's programs that balloned up the deficit. But wait....now the figures are showing that its congress(prior to Obama) and Bush thats the cause of the bulk of the deficit.

Maybe you guys can go back to the birth certificate angle?

Obama's own administration said that the jobless picture would have been much better today if they hadn't interfered with porkulus.

***SPRAYER
06-12-2009, 11:56 AM
Obama's own administration said that the jobless picture would have been much better today if they hadn't interfered with porkulus.

Didn't B.O. say during his campaign the unemployment rate would not exceed 8%?

http://thepeoplescube.com/images/images_working/Cube_Real/CUbe_close_sm.gif

patteeu
06-12-2009, 02:12 PM
Didn't B.O. say during his campaign the unemployment rate would not exceed 8%?

http://thepeoplescube.com/images/images_working/Cube_Real/CUbe_close_sm.gif

You might be getting your rising tides confused. I'm not sure whether he said that then, but he did promise to stem the rising tide of unemployment at 8% when he insisted that we pass porkulus to save our world. If he can't stem the rising tide of joblessness as promised, how's he going to hold back the oceans?

SBK
06-12-2009, 06:27 PM
You might be getting your rising tides confused. I'm not sure whether he said that then, but he did promise to stem the rising tide of unemployment at 8% when he insisted that we pass porkulus to save our world. If he can't stem the rising tide of joblessness as promised, how's he going to hold back the oceans?

Easy, quick flight and speech in Egypt, problem solved.

Hydrae
06-12-2009, 06:45 PM
Who's repsonsible for the deficit?


That damned World Health Organization, they are ruining it for everyone!!! :cuss:

Donger
06-12-2009, 07:06 PM
The people spending more than they take in, and those who continue to elect them, basically.

Direckshun
06-13-2009, 08:21 AM
Obama's own administration said that the jobless picture would have been much better today if they hadn't interfered with porkulus.

Link?

I completely missed this.

whoman69
06-13-2009, 09:06 AM
This is easy. The deficit has always been the fault of George W. Bush.

Everyone we've ever had, or ever will.

And AIDS is his fault too.
Posted via Mobile Device

That can't be true, because George Bush was never responsible for anything.

SBK
06-13-2009, 10:06 AM
That can't be true, because George Bush was never responsible for anything.

BDS Alert!

If you haven't been paying attention, Bush is responsible for everything bad in the world, poor Barry inherited a lot of bad things.

patteeu
06-13-2009, 10:54 AM
Link?

I completely missed this.

Link (http://michaelscomments.wordpress.com/2009/06/05/the-may-unemployment-numbers-are-here-and-worse-than-predicted/)

Direckshun
06-13-2009, 12:04 PM
Link (http://michaelscomments.wordpress.com/2009/06/05/the-may-unemployment-numbers-are-here-and-worse-than-predicted/)

Oh, I'm sorry, I thought you said:

Obama's own administration said that the jobless picture would have been much better today if they hadn't interfered with porkulus.

My bad.

You were just saying that despite the stimulus package, unemployment numbers are far worse than predicted.

I have poor reading comprehension skills, as always I know you'll forgive me.

Stewie
06-13-2009, 01:33 PM
Anyone who thinks the CBO has a grip on projected deficits is a moran. The numbers the Obama administration and the CBO vomited out just a few months ago have proven to be WAY OFF! This administration's deficit spending buries all other administrations several times over.

patteeu
06-13-2009, 03:48 PM
Oh, I'm sorry, I thought you said:



My bad.

You were just saying that despite the stimulus package, unemployment numbers are far worse than predicted.

I have poor reading comprehension skills, as always I know you'll forgive me.

Right. Obama said that if we didn't rush to pass the porkulus package without reading it, unemployment would push up to a shocking 9%. As a nation, we fell for it and allowed him to spend us into unprecedented deficits and he ended up making the situation worse than predicted (9.4% and rising) rather than better.

I'm very forgiving and harbor no ill will toward you over this misunderstanding.

BucEyedPea
06-13-2009, 03:51 PM
I'm very forgiving and harbor no ill will toward you over this misunderstanding.
That you are.

whoman69
06-13-2009, 09:59 PM
BDS Alert!

If you haven't been paying attention, Bush is responsible for everything bad in the world, poor Barry inherited a lot of bad things.

Bush didn't take personal responsibility for anything. Obama did inherit a bunch of bad things.

SBK
06-13-2009, 10:22 PM
Bush didn't take personal responsibility for anything. Obama did inherit a bunch of bad things.

And the sky is blue. LMAO

SBK
06-14-2009, 05:41 PM
Obama's own administration said that the jobless picture would have been much better today if they hadn't interfered with porkulus.

Biden tells "Meet the Press" that "everyone guessed wrong" on the impact of the stimulus, economy was worse off than anyone thought.

Backs away from the estimate that the funds could create or save 3.5 million jobs, instead promises 600,000 by the end of the summer.


http://thepage.time.com/2009/06/14/stimulus-apologies/

:LOL:

Direckshun
06-14-2009, 08:01 PM
Right. Obama said that if we didn't rush to pass the porkulus package without reading it, unemployment would push up to a shocking 9%. As a nation, we fell for it and allowed him to spend us into unprecedented deficits and he ended up making the situation worse than predicted (9.4% and rising) rather than better.

I'm very forgiving and harbor no ill will toward you over this misunderstanding.

See there's the sticking point.

I have no problem admitting that unemployment numbers have been disasterous and continue to be so despite the passage of the stimulus package.

But you take the argument two steps further by (a.) arguing that the stimulus package caused the continued spike in unemployment numbers, and earlier in the thread you had asserted (b.) that the White House has acknowledged this.

(b.) is clearly false, and (a.) is, I believe, questionable. By my math, the stimulus package has only handed out roughly 6% of its total funds so far. I fail to see how a continued trend of massive umemployment increases can be blamed on a bill that's 94% from being completed.

patteeu
06-15-2009, 08:22 AM
See there's the sticking point.

I have no problem admitting that unemployment numbers have been disasterous and continue to be so despite the passage of the stimulus package.

But you take the argument two steps further by (a.) arguing that the stimulus package caused the continued spike in unemployment numbers, and earlier in the thread you had asserted (b.) that the White House has acknowledged this.

(b.) is clearly false, and (a.) is, I believe, questionable. By my math, the stimulus package has only handed out roughly 6% of its total funds so far. I fail to see how a continued trend of massive umemployment increases can be blamed on a bill that's 94% from being completed.

I didn't say (b) anywhere in the thread. What I said was that Obama's action (porkulus) has failed on the employment front by his own administration's measure... and it has. As for (a), it's just as plausible as Obama's "created or saved" formulation.