PDA

View Full Version : U.S. Issues AP: If Obama Is "Successful" He Will Create A $23.1 Trillion Deficit


RINGLEADER
08-31-2009, 11:15 AM
The perilous economy may make it harder to do more. The same type of deficit battles went on within the New Deal, as FDR’s wavered between cutting spending and pumping up the Depression economy. But the grim reality is that even if Obama should succeed with all his proposals, the 2019 projected deficit is $712 billion and the national debt will have almost doubled again to $23.1 trillion.

This is from an older article so these projections have already been destroyed by Obama's spending habits.

http://news.yahoo.com/s/politico/20090226/pl_politico/19365

Think about that number for a moment. $23.1 trillion. If Obama is "successful". This is why some want Obama to fail -- his "success" would leave us with unsustainable deficits as far as the eye can see.

$23.1 trillion.

If we paid down the deficit by $231 billion every year (and that would be in ADDITION TO the $400+ billion we are now charged or the $700+ billion that this article cites) it would take 100 years to wipe out this country's debt.

Think about it.

Donger
08-31-2009, 11:22 AM
Oh good. My daily reminder of how unbelievably retarded Washington is when it comes to basic fiduciary responsibility.

It is beyond me how any person, even an Obama follower can look at these projections and conclude, "Yeah, but we need to spend more now."

We

are

f*cking

broke.

KC Dan
08-31-2009, 11:24 AM
It is beyond me how any person, even an Obama follower can look at these projections and conclude, "Yeah, but we need to spend more now."
Two words: Social Justice

That is how they justify this

KILLER_CLOWN
08-31-2009, 11:25 AM
Weeeeeeee and nothing for the people, now that's change i can believe in. Every man woman and child can be 500k in debt without even having seen any of it.

RINGLEADER
08-31-2009, 11:26 AM
<B>"We have to spend money to keep from going broke..."</B>
- <I>Joseph Biden, Vice-President, United States of America</I>

KILLER_CLOWN
08-31-2009, 11:27 AM
"We have to spend money to keep from going broke..." - Joseph Biden, Vice-President, United States of America

It's not a gaff if the VP does it. ;)

I'm going to employ the use of these principals starting today. I have about 24 new credit card offers which i'm going to exercise and spend spend spend baby! I'm feeling very patriotic today.

blaise
08-31-2009, 11:37 AM
But the world will be made up of bunny rabbits powering electric cars that run on love, and we can all feel and watch the races of the world unite and purchase commemorative Obama plates and coins and T-shirts. Then we'll all walk hand in hand to an organic food co-op where doctors will assign us a healthy meal plan and treat our diseases for free while Xerox, Coca Cola, and a sinister rich man down the block pay the bill.
So it'll be worth it.

KILLER_CLOWN
08-31-2009, 11:41 AM
But the world will be made up of bunny rabbits powering electric cars that run on love, and we can all feel and watch the races of the world unite and purchase commemorative Obama plates and coins and T-shirts. Then we'll all walk hand in hand to an organic food co-op where doctors will assign us a healthy meal plan and treat our diseases for free while Xerox, Coca Cola, and a sinister rich man down the block pay the bill.
So it'll be worth it.

I like the organic food part, but 1 out of 9 is a horrible average even for baseball.

wild1
08-31-2009, 11:43 AM
Hooray for Jimmy Carter II

blaise
08-31-2009, 11:45 AM
I like the organic food part, but 1 out of 9 is a horrible average even for baseball.

Only those who agree with all points are eligible for the free organic food, which will be the only legal food available.

Baby Lee
08-31-2009, 11:50 AM
But the world will be made up of bunny rabbits powering electric cars that run on love, and we can all feel and watch the races of the world unite and purchase commemorative Obama plates and coins and T-shirts. Then we'll all walk hand in hand to an organic food co-op where doctors will assign us a healthy meal plan and treat our diseases for free while Xerox, Coca Cola, and a sinister rich man down the block pay the bill.
So it'll be worth it.

The crops are growing very well
We should make a perfect pesticide so it would be good for us
We need the food because it's food and stuff
The businesses downtown need to lower their rent
We can be a community and make the things and sell them in our stores
We can be rich in cotton and mining metals, the machine can make it for us
On the east coast they have slaves, here in California we have the Union.
We should have fruits and vegetables because we have fruits trees and vegetable trees
Growing food is so good for the people because it's free, all we have to do is pay for the food and the land, so we should sell it at the farmer's market.

KILLER_CLOWN
08-31-2009, 11:51 AM
Only those who agree with all points are eligible for the free organic food, which will be the only legal food available.

I see it the other way around, Organic food is not going to push out the GMO. End of thread hijacking.

2bikemike
08-31-2009, 12:23 PM
This bankrupting of America is my biggest concern. We cannot sustain this level of spending. IMHO this should be job 1 of any administration. Get spending below their income. And I don't want them asking for a raise to do it.

They are so fiscally irresponsible and I am sick of it. What we just went /are going through with the economy is going to seem pretty trivial to whats around the corner if things don't change.

ChiTown
08-31-2009, 12:27 PM
<B>"We have to spend money to keep from going broke..."</B>
- <I>Joseph Biden, Vice-President, United States of America</I>

:banghead:

KC Dan
08-31-2009, 12:28 PM
This bankrupting of America is my biggest concern. We cannot sustain this level of spending. IMHO this should be job 1 of any administration. Get spending below their income. And I don't want them asking for a raise to do it.

They are so fiscally irresponsible and I am sick of it. What we just went /are going through with the economy is going to seem pretty trivial to whats around the corner if things don't change.This is a death spiral. Itis in full swing. They can't (won't) reduce spending below revenue intake because that won't help them get elected. Or, I should say - they think it wouldn't. Their re-election is far more important to them than the solvency of our nation. That is sad but true.

mlyonsd
08-31-2009, 12:47 PM
Don't worry. We'll get the unpatriotic wealthy to pay for it.

Chief Faithful
08-31-2009, 12:48 PM
Once Healthcare is fully in the hands of the government they will be forced to find ways to save money. We are running the same gauntlet as Canada and England.

ChiTown
08-31-2009, 01:13 PM
Don't worry. We'll get the unpatriotic wealthy to pay for it.

Sincerely,


The Non-Working Class.

Duck Dog
08-31-2009, 01:16 PM
Maybe he plans on finding work for the people who voted for him so they can start pay taxes too.

BucEyedPea
08-31-2009, 01:21 PM
How 'bout we take bets for how high he'll make it go?

***SPRAYER
08-31-2009, 08:23 PM
So where are all the jobs B.O. promised?

ROFL

What a friggin joke this guy is.

ROYC75
08-31-2009, 09:44 PM
Notice nobody is defending him here ? :hmmm:

|Zach|
08-31-2009, 10:12 PM
Notice nobody is defending him here ? :hmmm:
I personally noticed that you just made a post without cutting and pasting from somewhere else. You also posted with words you know how to use.

And for that I give you props.

StcChief
08-31-2009, 10:18 PM
Hooray for Jimmy Carter IIare the printing presses better and faster now?

jAZ
08-31-2009, 10:23 PM
If Obama Is "Successful" He Will Create A $23.1 Trillion Deficit

Ummm...
...the 2019 projected deficit is $712 billion

2bikemike
08-31-2009, 10:40 PM
Ummm...

Read the OP the 23.1 Trillion is the Debt on all of those deficits.

jAZ
08-31-2009, 10:43 PM
My daily reminder of how unbelievably retarded Washington is when it comes to basic fiduciary responsibility.

Defecit spending during an economic collapse isn't your run of the mill Reagan-Bush-Bush defecit spending.

jAZ
08-31-2009, 10:45 PM
Read the OP the 23.1 Trillion is the Debt on all of those deficits.

That's the point. The thread title is wrong. It's debt, not defecit. I assume RL just made a mistake.

RINGLEADER
08-31-2009, 10:55 PM
That's the point. The thread title is wrong. It's debt, not defecit. I assume RL just made a mistake.

You are correct.

Obama successful = $23.1 trillion debt, $700+ billion deficits.

And, actually, to be fair, all of that debt isn't Obama's. Just most of it. So the title of the thread is technically wrong on that count as well.

But it is kind of amazing that Obama's plans would more than double the entire US debt that had been run up before his arrival...

We need to have 100 straight years of budget surpluses of $231 billion a year to erase the debt that Obama wants to leave us with...

:shake:

Direckshun
08-31-2009, 11:05 PM
Probably helps when you know the difference between a deficit and debt.

RINGLEADER
08-31-2009, 11:13 PM
Probably helps when you know the difference between a deficit and debt.

What an amazing observation.

We don't have to worry about the debt that Obama wants to double or the $700+ billion annual deficits he wants to create now.

(Considering I've been up for 40 hours finishing a script that will help employ hundreds of people I've earned some slack)

Direckshun
08-31-2009, 11:19 PM
What an amazing observation.

We don't have to worry about the debt that Obama wants to double or the $700+ billion annual deficits he wants to create now.

I just have a lot of trouble getting excited one way or the other over 10 year budget projections. Way too much changes.

When have those ever been right?

deadbabyseal
08-31-2009, 11:19 PM
Numbers makes my head hurt.

RINGLEADER
08-31-2009, 11:45 PM
I just have a lot of trouble getting excited one way or the other over 10 year budget projections. Way too much changes.

When have those ever been right?


That's one of the dumber statements I've ever seen written on this board.

But fortunately it's looking like Obama will fail on health care and cap-and-trade so his deficits will likely only double the current debt...

:rolleyes:

Direckshun
08-31-2009, 11:52 PM
That's one of the dumber statements I've ever seen written on this board.

Why?

What's a 10-year budget outlay? "If everything stayed exactly the same for ten years, here's what would happen."

Ringleader, make sense of this for me. Tell me why I should care about a 10-year outlay, instead of let's say a two-to-four year outlay.

jAZ
08-31-2009, 11:57 PM
Defecit spending during an economic collapse isn't your run of the mill Reagan-Bush-Bush defecit spending.

http://www.marktaw.com/culture_and_media/politics/USA_debt_2009/receipts_vs_outlays_percent_gdp.gif

RINGLEADER
09-01-2009, 12:26 AM
Why?

What's a 10-year budget outlay? "If everything stayed exactly the same for ten years, here's what would happen."

Ringleader, make sense of this for me. Tell me why I should care about a 10-year outlay, instead of let's say a two-to-four year outlay.

Well, because the health care plan you seem to want (though I could be wrong) not only will create debts for ten years but also an unfunded mandate after that. You can pretend the world will end in 2012 but it's a terrible way to plan your finances (though it sure seems like that's the way Obama is playing it).

The ten year horizon is also important because it details what he intends to do with all the money we don't have. Whether the debt ends up being 21 trillion or 23 trillion or 25 trillion (since Obama doesn't seem to think it $2 trillion matters much) we're still going to be in a position where annual deficits approach a trillion EVERY YEAR.

Now, you can say the numbers are never 100% accurate and dismiss them entirely. That's your right. And chances are they won't be 100% accurate -- likely to our further detriment. As Dirk pointed out the CBO analysis of Medicare prescription drugs were supposed to be $400+ billion but, according to him, that number is now closer to $1 trillion. The same will be true for all of Obama's numbers.

RINGLEADER
09-01-2009, 12:33 AM
http://www.marktaw.com/culture_and_media/politics/USA_debt_2009/receipts_vs_outlays_percent_gdp.gif

:shake:

I can't wait to hear Obama proclaim in 2012 that he's cut the deficit (that he created) in half...

Direckshun
09-01-2009, 12:48 AM
Well, because the health care plan you seem to want (though I could be wrong) not only will create debts for ten years but also an unfunded mandate after that. You can pretend the world will end in 2012 but it's a terrible way to plan your finances (though it sure seems like that's the way Obama is playing it).

The ten year horizon is also important because it details what he intends to do with all the money we don't have. Whether the debt ends up being 21 trillion or 23 trillion or 25 trillion (since Obama doesn't seem to think it $2 trillion matters much) we're still going to be in a position where annual deficits approach a trillion EVERY YEAR.

Now, you can say the numbers are never 100% accurate and dismiss them entirely. That's your right. And chances are they won't be 100% accurate -- likely to our further detriment. As Dirk pointed out the CBO analysis of Medicare prescription drugs were supposed to be $400+ billion but, according to him, that number is now closer to $1 trillion. The same will be true for all of Obama's numbers.

Well I hope you're wrong on the last part but it's a fair concern.

But if that's what you beleive, then any 10-year outlay looks ridiculous because you secretly know it's not even going to be close to what's going to happen.

So I just have a lot of trouble getting worked up with 10-year outlays.

patteeu
09-01-2009, 06:37 AM
I just have a lot of trouble getting excited one way or the other over 10 year budget projections. Way too much changes.

When have those ever been right?

You're right. The debt created by Obama will probably be much worse. If crap were gold, Obama would be Midas.

blaise
09-01-2009, 07:58 AM
I just have a lot of trouble getting excited one way or the other over 10 year budget projections. Way too much changes.

When have those ever been right?

This coming from the person that posts threads about how popular Sarah Palin is among Republicans right now as if it means she'll be the Presidential nominee in 3 years.

Donger
09-01-2009, 08:00 AM
This coming from the person that posts threads about how popular Sarah Palin is among Republicans right now as if it means she'll be the Presidential nominee in 3 years.

It will be Pawlenty.

And he'll beat Obama.

BucEyedPea
09-01-2009, 08:01 AM
You're right. The debt created by Obama will probably be much worse. If crap were gold, Obama would be Midas.

ROFL

Donger
09-01-2009, 08:04 AM
Well I hope you're wrong on the last part but it's a fair concern.

But if that's what you beleive, then any 10-year outlay looks ridiculous because you secretly know it's not even going to be close to what's going to happen.

So I just have a lot of trouble getting worked up with 10-year outlays.

Take a peek at Medicare spending. And that's just for the old farts.

KC Jones
09-01-2009, 08:15 AM
http://zfacts.com/metaPage/lib/National-Debt-GDP.gif

Baby Lee
09-01-2009, 08:25 AM
You're right. The debt created by Obama will probably be much worse. If crap were gold, Obama would be Midas.

It's called a fecal variant of the Midas touch.

Donger
09-01-2009, 08:30 AM
http://zfacts.com/metaPage/lib/National-Debt-GDP.gif

Awesome. Obama's spending increases as much as it did during WWII?

wild1
09-01-2009, 08:40 AM
Awesome. Obama's spending increases as much as it did during WWII?

And that was only through February.

PhillyChiefFan
09-01-2009, 08:52 AM
This is a death spiral. Itis in full swing. They can't (won't) reduce spending below revenue intake because that won't help them get elected. Or, I should say - they think it wouldn't. Their re-election is far more important to them than the solvency of our nation. That is sad but true.

Sadly this is true. I went to a congressional seminar in Washington and we were spoken to by several former congressmen. One was William Hilleary, Tenn. 4th Dist. House Rep.

One was very candid, and stated this fact plain as day, saying "The moment we are elected, we begin to think about reelection and how to get reelected." He went on to say "All of your decisions are based on reelection, and all of your votes are based on it."

He said "Oh congress is concerned about their constituants alright, they are concerned about them voting for them, that is all."

It was good to hear someone who spoke their mind, however, even he said that he went in wanting to make a difference but after a few years, it became just a job to get reelected. He said he wishes that there were term limits.