- Feb 26, 2001
- 13,593
- 164
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The Market
- Thread starter Jabberwocky
- Start date
What you conservatives refuse to admit is that the Obama administration has to cash the checks the Bush administration wrote for 8 years. It's easy to see now that 4 more years of "fiscal conservatism" :mj07: (i.e. a McCain administration) would have destroyed this country. At least Obama has the resolve and determination to face the music, which as far as I can tell, is anathema to many of you conservatives in this forum.
Are you insane?
Recent additions to U.S. public debt Fiscal year (begins
10/01 of prev. year) Value % of GDP
2001 $144.5 billion 1.4%
2002 $409.5 billion 3.9%
2003 $589.0 billion 5.5%
2004 $605.0 billion 5.3%
2005 $523.0 billion 4.3%
2006 $536.5 billion 4.1%
2007 $459.5 billion 3.4%
2008 $1017.0 billion (proj.) 7.
United States Total Debt (Split)
End of fiscal year Intragovernmental Holdings Debt Held by the Public
1999 2.020 trillion 3.636 trillion
2000 2.269 trillion 3.405 trillion
2001 2.468 trillion 3.339 trillion
2002 2.675 trillion 3.553 trillion
2003 2.859 trillion 3.924 trillion
2004 3.072 trillion 4.307 trillion
2005 3.331 trillion 4.601 trillion
2006 3.664 trillion 4.843 trillion
2007 3.958 trillion 5.049 trillion
2008 4.216 trillion 5.809 trillion
2009* est 5.900 trillion 6.400 trillion
yeah, I know. Katrina.
A LEGACY OF DEFICITS AND DEBTPresident Bush?s budgets have left behind a legacy of debt, turning surpluses into deficits: ?When Bush took office there was a projected $710 billion surplus for FY09 [Congressional Budget Office]. Bush?s budget would create a $407 billion deficit for FY09 ? a swing of $1.117 TRILLION.?When Bush took office, the national debt was $5.7 trillion. Under Bush?s budget it will be $10.3 trillion at the end of FY09. ?When Bush took office, there was a $5.6 trillion ten-year projected surplus. It is now a $3.4 trillion deficit over the same period ?Bush presided over the 5 largest deficits in American history: o #1: $412 billion deficit in FY04 o #2: $410 billion deficit in FY08 (projected) o #3: $407 billion deficit in FY09 (projected) o #4: $378 billion deficit in FY03 o #5: $318 billion deficit in FY05
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SEVEN YEARS LATER:BUSH?S RECKLESS BUDGET POLICIES HAVE CONTRIBUTED TO A WEAK ECONOMYWHEN BUSH TOOK OFFICE TODAY ? IN THE RED UNEMPLOYMENT 5.7 million unemployed 7.7 million unemployed HOUSEHOLD INCOME $49,163 $48,023 HEALTH INSURANCE 38 million uninsured 47 million uninsured POVERTY 31.6 million36.5 millionJOBS CREATED 22.7 million over Clinton?s 8 years 6 million over 7 years REAL GDP GROWTH 3.6% over Clinton?s 8 years 2.6% over 7 years NATIONAL DEBT $5.7 Trillion $10.3 Trillion (projected) BUSH, REPUBLICANS OFFER MORE OF THE SAMEPresident Bush, Republicans, and Republican Presidential candidates offer no hope for a break from the past, advocating to make the fiscally irresponsible 2001 and 2003 tax cuts permanent. The American People Want Change? ? ?More than eight in 10 Americans describe the economy as ?not so good? or ?poor,? and nearly six in 10 believe the United States is already in a recession.? [Washington Post/ABC News Poll, 2/4/08]? ?In all, 42% of those surveyed from Wednesday to Saturday rate the nation's economic conditions as poor, the most negative outlook since 1992.? [USA Today/Gallup Poll, 2/4/08]?While Republicans offer more of the same: ? ?In order for this economy to grow, it's important to make the tax relief permanent.? [President Bush, 2/4/08]? ?We need to make the Bush tax cuts permanent.? [Sen. John McCain, CNN Debate, 1/30/08, even though he voted against these tax cuts in 2001 and 2003.]? ?Mr. Romney? has repeatedly called for making [Bush?s tax cuts] permanent.? [New York Times, 1/25/08]? ?Now, as we face an economic downturn, let's hope that we've learned from history and will work in a bipartisan way to make this tax relief permanent.? [Minority Leader Boehner, The Hill, 1/16/08]Prepared by the Office of Majority Leader Steny Hoyer, 2/6/08 ?If government debt and deficits were actually to grow at the pace envisioned by the CBO's scenario, the effects on the U.S. economy would be severe. High rates of government borrowing would? slow the growth of real incomes and living standards over time?. Uncertainty about the ultimate resolution of the fiscal imbalances would reduce the confidence of consumers, businesses, and investors in the U.S. economy.? - Federal Reserve Chairman Ben Bernanke, 2/28/07
A LEGACY OF DEFICITS AND DEBTPresident Bush?s budgets have left behind a legacy of debt, turning surpluses into deficits: ?When Bush took office there was a projected $710 billion surplus for FY09 [Congressional Budget Office]. Bush?s budget would create a $407 billion deficit for FY09 ? a swing of $1.117 TRILLION.?When Bush took office, the national debt was $5.7 trillion. Under Bush?s budget it will be $10.3 trillion at the end of FY09. ?When Bush took office, there was a $5.6 trillion ten-year projected surplus. It is now a $3.4 trillion deficit over the same period ?Bush presided over the 5 largest deficits in American history: o #1: $412 billion deficit in FY04 o #2: $410 billion deficit in FY08 (projected) o #3: $407 billion deficit in FY09 (projected) o #4: $378 billion deficit in FY03 o #5: $318 billion deficit in FY05
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SEVEN YEARS LATER:BUSH?S RECKLESS BUDGET POLICIES HAVE CONTRIBUTED TO A WEAK ECONOMYWHEN BUSH TOOK OFFICE TODAY ? IN THE RED UNEMPLOYMENT 5.7 million unemployed 7.7 million unemployed HOUSEHOLD INCOME $49,163 $48,023 HEALTH INSURANCE 38 million uninsured 47 million uninsured POVERTY 31.6 million36.5 millionJOBS CREATED 22.7 million over Clinton?s 8 years 6 million over 7 years REAL GDP GROWTH 3.6% over Clinton?s 8 years 2.6% over 7 years NATIONAL DEBT $5.7 Trillion $10.3 Trillion (projected) BUSH, REPUBLICANS OFFER MORE OF THE SAMEPresident Bush, Republicans, and Republican Presidential candidates offer no hope for a break from the past, advocating to make the fiscally irresponsible 2001 and 2003 tax cuts permanent. The American People Want Change? ? ?More than eight in 10 Americans describe the economy as ?not so good? or ?poor,? and nearly six in 10 believe the United States is already in a recession.? [Washington Post/ABC News Poll, 2/4/08]? ?In all, 42% of those surveyed from Wednesday to Saturday rate the nation's economic conditions as poor, the most negative outlook since 1992.? [USA Today/Gallup Poll, 2/4/08]?While Republicans offer more of the same: ? ?In order for this economy to grow, it's important to make the tax relief permanent.? [President Bush, 2/4/08]? ?We need to make the Bush tax cuts permanent.? [Sen. John McCain, CNN Debate, 1/30/08, even though he voted against these tax cuts in 2001 and 2003.]? ?Mr. Romney? has repeatedly called for making [Bush?s tax cuts] permanent.? [New York Times, 1/25/08]? ?Now, as we face an economic downturn, let's hope that we've learned from history and will work in a bipartisan way to make this tax relief permanent.? [Minority Leader Boehner, The Hill, 1/16/08]Prepared by the Office of Majority Leader Steny Hoyer, 2/6/08 ?If government debt and deficits were actually to grow at the pace envisioned by the CBO's scenario, the effects on the U.S. economy would be severe. High rates of government borrowing would? slow the growth of real incomes and living standards over time?. Uncertainty about the ultimate resolution of the fiscal imbalances would reduce the confidence of consumers, businesses, and investors in the U.S. economy.? - Federal Reserve Chairman Ben Bernanke, 2/28/07
face the music
face the music
well,O ran for president and won. guess he might have known he was in for a rough go. guess we'll have to agree to disagree on how he'll get it done. glad the troops are all home; glad no lobbyist' made it on board; glad we have a a "transparent" setup; etc,etc. why aren't you guys crying now when some of our boys get killed? the silence is deafening. what happened to "bring em home?"
face the music
well,O ran for president and won. guess he might have known he was in for a rough go. guess we'll have to agree to disagree on how he'll get it done. glad the troops are all home; glad no lobbyist' made it on board; glad we have a a "transparent" setup; etc,etc. why aren't you guys crying now when some of our boys get killed? the silence is deafening. what happened to "bring em home?"
- Feb 26, 2001
- 13,593
- 164
- 63
GOOD SHOT DEADEYE
GOOD SHOT DEADEYE
I HATE THE WARS, I HATE AND STILL HATE BUSH FOR THE FULKING LIES AND THE ILLEGAL WARS THAT ARE NOTHING MORE THAN AN OIL GRAB.
NOW WE GOT OBAMA WITH THE LIES AND SPREADING THE WAR IN AFGANISTAN.
LIARS, THAT'S WHY I HATE ALL POLITICIANS !!
GOOD SHOT DEADEYE
I HATE THE WARS, I HATE AND STILL HATE BUSH FOR THE FULKING LIES AND THE ILLEGAL WARS THAT ARE NOTHING MORE THAN AN OIL GRAB.
NOW WE GOT OBAMA WITH THE LIES AND SPREADING THE WAR IN AFGANISTAN.
LIARS, THAT'S WHY I HATE ALL POLITICIANS !!
Debt under GW was increase under 400 Billion (thats with a B)in 8 years which included all the above mentioned adversities.
Dogs you had better check your figures.
Dogs you had better check your figures.
There it is... Bait & Switch.
Change the subject to foreign policy when you can't debate economic policy.
Can you see a pattern here Smurph per budget deficit on 9-11-wars-Katrina--do you note how budget deficit was decreased the 4 years that followed until 2008?--Why--because they were events that have finite expenses--not reoccuring escalating expenses.
http://blogs.wsj.com/washwire/2007/...dget-deficit-to-fall-for-third-year-in-a-row/
Federal Budget Deficit
<TABLE class=imglftbdy cellSpacing=0 cellPadding=0 width=400 align=left border=0><TBODY><TR><TD>
Spy--took you a while but see you got you got your zcharts out again
Don't know what GW left out but would wager it don't compare to Spys--rope a dope of charts comparing 8 years to to 37 days of Obama
maybe this will make things a little clearer--just in case anyone is not familiar with Spy's Huffington post tactics.
"The nonpartisan CBO said red ink from the current Year of the Bailout that began Oct. 1 will total a record $1.85 trillion, or 13.1 percent of gross domestic product. While that short-term number is staggering, it's not the real surprise in this report.
The more worrisome projection is that Obama's proposed budget will create deficits averaging more than $925 billion per year over the next decade. The cumulative total of deficits over 10 years would be $9.27 trillion, or about $2.3 trillion higher than the administration predicted last month. The difference is because the White House used rosier assumptions for an economic recovery. In just two years, debt held by the public would grow from 40.8 percent of GDP to 64.6 percent. Even Obama's budget chief admits those kinds of deficits are unsustainable."
maybe this will make things a little clearer--just in case anyone is not familiar with Spy's Huffington post tactics.
"The nonpartisan CBO said red ink from the current Year of the Bailout that began Oct. 1 will total a record $1.85 trillion, or 13.1 percent of gross domestic product. While that short-term number is staggering, it's not the real surprise in this report.
The more worrisome projection is that Obama's proposed budget will create deficits averaging more than $925 billion per year over the next decade. The cumulative total of deficits over 10 years would be $9.27 trillion, or about $2.3 trillion higher than the administration predicted last month. The difference is because the White House used rosier assumptions for an economic recovery. In just two years, debt held by the public would grow from 40.8 percent of GDP to 64.6 percent. Even Obama's budget chief admits those kinds of deficits are unsustainable."
debate it?
debate it?
we can debate it till the cows come home. we are never going to agree on it. if the debt was bush's fault it's ok if O piles on trillions more? you think beating bush up for 4 yrs. is going to make things ok? what a weak argument. take off your blinders people. it is what it is.
debate it?
we can debate it till the cows come home. we are never going to agree on it. if the debt was bush's fault it's ok if O piles on trillions more? you think beating bush up for 4 yrs. is going to make things ok? what a weak argument. take off your blinders people. it is what it is.
Bush for got cost of two wars. Never put in any budgets. Were still not sure if that cost was 1.4 or 1.5 trillion. O's adding it in.
Can you see a pattern here Smurph per budget deficit on 9-11-wars-Katrina--do you note how budget deficit was decreased the 4 years that followed until 2008?--Why--because they were events that have finite expenses--not reoccuring escalating expenses.
http://blogs.wsj.com/washwire/2007/...dget-deficit-to-fall-for-third-year-in-a-row/
Federal Budget Deficit
<TABLE class=imglftbdy cellSpacing=0 cellPadding=0 width=400 align=left border=0><TBODY><TR><TD></TD></TR><TR><TD class=medcrd>CBO </TD></TR><TR><TD class=medcptcrd>CBO expects the 2007 deficit to total $158 billion, $90 billion decline from the deficit recorded for 2006. </TD></TR></TBODY></TABLE>
Spy--took you a while but see you got you got your zcharts out again
do you want me to post the actual deficit in 2007 and 2008?
Can you back up the 400 billion figure, or are you just going to admit what a complete crock of shit that was?
---and why is he adding it in?
It parts of his cutting budget sceme--he's projecting cost to be same in coming years so it appears he reduced spending--when actually the war was won when he took office and future cost were already cut drastically.
Jabbers: You put up anything you want--I generaly never read but when when you make such obvious deceptions as your latest-- I'll note just for the humerous aspects.
---and why is he adding it in?
It parts of his cutting budget sceme--he's projecting cost to be same in coming years so it appears he reduced spending--when actually the war was won when he took office and future cost were already cut drastically.
Jabbers: You put up anything you want--I generaly never read but when when you make such obvious deceptions as your latest-- I'll note just for the humerous aspects.
...................................................................
hide war money, hide caskets
it was all the same to Bush and Dick C
Know one has any idea how much was lost. Or the true cost. They only know it,s in billions/trillions. The war goes on both places. There not over.
