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-   -   Economics Obama's First Term: 2.4T in deficit reduction (http://www.chiefsplanet.com/BB/showthread.php?t=269143)

Direckshun 01-21-2013 07:53 AM

Obama's First Term: 2.4T in deficit reduction
 
http://www.americanprogress.org/wp-c...ion_fig2-1.png

Considering that cutting the deficit retards growth, and Obama inherited the Great Recession, this is pretty astonishing we've had this much deficit reduction without tanking growth. It does help explain, however, why growth has been steady but sluggish.

The CBPP says we need an additional 1.4T in deficit reduction, and that's it: our long term debt would be stabilized under our current economy. Which means, of course, if we could get the economy growing at a 3%+ clip again, the long term deficit is put on a downward spiral.

CoMoChief 01-21-2013 08:30 AM

wrong

gochiefs_va 01-21-2013 08:38 AM

Rofl....

Just rofl.....

You lefties will do anything eh?

something cooler 01-21-2013 08:51 AM

Quote:

Originally Posted by CoMoChief (Post 9338665)
wrong

how so?

Garcia Bronco 01-21-2013 09:05 AM

Lol..no...the deficit has not gone down. Not even a little bit. The amusing part about the graph is it's based on projections of where we'd be. It'a beyond intellectually dishonest and truly an example of someone living in the bubble.

Comrade Crapski 01-21-2013 09:06 AM

americanprogress.org ROFL

http://www.iaza.com/work/130122C/iaza19550437923400.jpg
obamao propaganda

Brainiac 01-21-2013 09:23 AM

Hey, you've got admire the chutzpah of the Left. If you're going to tell a lie, make it a big one.

Quote:

From Wikipedia, the free encyclopedia
The Big Lie (German: Große Lüge) is a propaganda technique. The expression was coined by Adolf Hitler, when he dictated his 1925 book Mein Kampf, about the use of a lie so "colossal" that no one would believe that someone "could have the impudence to distort the truth so infamously."

FishingRod 01-21-2013 09:28 AM

I think some of you may be having trouble using government numbers and accounting practices because, they don’t exist in the real world for anyone else.

In the Federal Government's world if we spend 1 trillion dollars more than the revenue available in 2011 and then spend 500 billion dollars more than you have in 2012 you have cut the deficit in half. Also when you borrow ½ trillion or so from social security that really doesn’t count either because if and when they pay that back is kinda gray. Likewise If you take an estimated spending increase of $100 billion and only increase it by $95 billion you have cut spending by 5 billion. Have I missed anything important?

To be fair this is not anything new and is why some argued there really wasn't a surpluss under Clinton. Regardless of whichever accounting practices one would chose to use, it is palin to see our speanding is much worse now than it was then.

Munson 01-21-2013 09:57 AM

http://www.lowbird.com/data/images/2...sshitagain.jpg

the steam 01-21-2013 10:13 AM

It's like I weigh 240 lbs. 4 years later I weigh 300. But wait, I projected myself to weigh 350 by that date so I didn't really gain 60 lbs I lost 50 lbs.

Mr. Kotter 01-21-2013 10:18 AM

Direckshun....seriously, the spin of this is laughable. Reductions in projected increases in spending may be a case of "it isn't as bad as we thought!"....however, it's sure as hell not good news.

When we start PAYING DOWN the debt, then you'd have cause to celebrate. Until then, not so much.

LiveSteam 01-21-2013 10:22 AM

Can I http://www.poopprank.com/dogpoop.gif all over this thread?

Ace Gunner 01-21-2013 10:22 AM

http://observatory.designobserver.co...est-baby_2.jpg

Bewbies 01-21-2013 10:29 AM

LMAO

There is no way Barackshun isn't a paid employee of Obama for America or some such outfit.

FD 01-21-2013 11:08 AM

Pretty bad thread title.


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