Obama's First Term: 2.4T in deficit reduction

[Direckshun]

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.

[patteeu]

Originally Posted by Direckshun

Obama inherited a trillion dollar deficit.

Inherited.

Whatever the deficit was when Obama took over, the first thing he decided to do (besides close Guantanamo and have a let-them-eat-cake-style shindig for his inauguration) was to dramatically increase it.

[patteeu]

Originally Posted by Direckshun

That is completely, factually wrong.

You seem to be having trouble distinguishing between projections and actuals.

[RINGLEADER]

Holy crap.

Deficit reduction means jack when it comes after you inflate said deficit.

All these morons running around crowing about $1 trillion and $2 trillion and $4 trillion in deficit reduction over ten years keep forgetting to remind all of us that it still means trillions more in debt.

I really can't stand the idiots who proffer this bs line. They look at trillion dollar deficits and point to percentages and historical averages. By the time Obama is done he will have doubled the debt.

But hey, he cut the deficit!

[RINGLEADER]

Originally Posted by Direckshun

You're wrong. The deficit has shrunk during the Obama administration.

Faster than any administration since WWII, actually.

If you compare it to one year in the midst of a financial meltdown. Compare Obama's deficits to the average of any two years (not even asking for the typical ten year averages) and your argument that Obama is some great fiscal/debt/deficit hawk doesn't hold up.

And if you're so balls out for the guy stop talking about the deficit and point to his great contributions to the debt.

No, let's keep comparing everything Obama does to 2008. That's the only year that matters.

[mlyonsd]

Originally Posted by Direckshun

Obama has been a net cutter of the deficit.

Is that even in doubt?

He's cut the deficit faster and more aggressively than any President since we were fighting Hitler.

And yet conservatives want to do what? Cripple the economy by eliminating a trillion dollar deficit in four years during the Great Recession?

Seriously, that's crazy talk.

You should have been on the Titanic running around yelling for everyone to grab a bucket and start bailing. You missed your calling.

[blaise]

Direckshun is so desperate to start claiming Obama is a top 5 president that he basically spends his time looking for reasons to make that case, just so he can at some point.

[mlyonsd]

And stop with this inherited nonsense. Obama was a member of congress for 8 years before becoming president. Your trying to pretend he isn't partially responsible for the deficit he 'inherited' isn't playing here.

[patteeu]

Originally Posted by mlyonsd

And stop with this inherited nonsense. Obama was a member of congress for 8 years before becoming president. Your trying to pretend he isn't partially responsible for the deficit he 'inherited' isn't playing here.

It was only 4 years, I think, but your point is still a good one.

[Amnorix]

[mlyonsd]

Originally Posted by patteeu

It was only 4 years, I think, but your point is still a good one.

I stand corrected.

[Comrade Crapski]

I used to flip a coin to decide who was Barry's biggest ballwasher, BRC or Dreck, but no more.

Dreck wins it walking away.

[patteeu]

Compare that ridiculous $2.4T in imaginary deficit reduction over the next 10 years with the appalling $6T in real deficits he's generated in just the past 4 years. Bottom 5.

[loochy]

dude, even your fellow democrats think this is stupid

[Direckshun]

Originally Posted by ClevelandBronco

When someone tries to pass of the political/fiscal equivalent of, "The sun is made of Jell-O®," no serious rebuttal is necessary. Scorn is wholly appropriate.

Nonsense.

2.4T in deficit reduction over the last four years. That is mathematical, budgetary fact.

[Direckshun]

Originally Posted by patteeu

Whatever the deficit was when Obama took over, the first thing he decided to do (besides close Guantanamo and have a let-them-eat-cake-style shindig for his inauguration) was to dramatically increase it.

Dramatically increase it by... 200 billion, according to most estimates. A deficit that was already 1.3 trillion.

For recovery measures. To inject demand into the economy.

If that's a "dramatically increasing," then we have subsequently seen a dramatic decreasing of the deficit on his watch as well, by your own mathematical standard.