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Old 10-06-2015, 09:02 AM
 
17,497 posts, read 10,145,789 times
Reputation: 6744

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Quote:
Originally Posted by Loveshiscountry View Post
How can the budget be balanced but the debt increased? Keep lying to yourself if it helps you sleep at night.
Many here worry about misspelled words, but can't explain debt to deficit to save their lives.

The national debt...
the net accumulated borrowing by the federal government.
It's the difference between all the money that our federal government
has ever spent and all the revenue that it has ever collected since our
nation's inception.
The annual federal budget deficit...
the amount that our federal government borrows each year.
It's the difference between what the federal government spends and
the revenue it receives during a particular year. So each year's deficit is added to the existing debt. When revenue exceeds spending, it's called a surplus, which subtracts from the debt.

 
Old 10-06-2015, 10:15 AM
 
Location: Alameda, CA
7,405 posts, read 3,739,625 times
Reputation: 1350
Quote:
Originally Posted by Loveshiscountry View Post
You mean the one who told us about the housing bubble as earlier as 2001? Anyone who says he doesn't know economics is ignorant or insane or both.
Here he is from 2003 when he was on the banking committee.
I watched the video. He is/was wrong on at least 2 counts. 1) As the Private Investment Banks proved, you could attract capital to invest in sub-prime mortgages. The Private Investment Banks supplanted the GSEs as the dominant players in securitizing mortgages. 2) The dollar has not collapsed in fact it has strengthened.
 
Old 10-06-2015, 10:31 AM
 
Location: East Side St. Paul
123 posts, read 73,354 times
Reputation: 84
Quote:
Originally Posted by greywar View Post
Its funny how so many people post factual responses about deficits falling under Obama, and other facts....which get promptly ignored by those cheerleading for the other side. Why are people refusing to comprehend or discuss facts? Ohhh...because its inconvenient truths. Got it.
You want us to sift through and rebut the junk "facts" presented by obviously skewed and dedicated Obamaites as if that's actually productive. These clowns won't even meet me in the middle of the road - I've said it in this very thread that our country is controlled by an evil NWO type of sickness that has infected the highest of our public servants to the point they are all in collusion - both the "left" and the "right" are totally out of control.


You guys won't admit that Obama is a cockamamie fraud, fine, but at least admit he is out of control with the running of his regime....


Quote:
Originally Posted by Finn_Jarber View Post
Write to your Congressmen. The Congress controls the spending, not the president. It does not seem like you knew that.

Now, now. No need to get condescending. I minored in political science so I know exactly how our government "functions" (although with the SC now making laws it's looking like this American system is almost a fallacy).
 
Old 10-06-2015, 10:32 AM
 
7,592 posts, read 4,069,579 times
Reputation: 2892
Ugh?

https://upload.wikimedia.org/wikiped...ive_to_GDP.png

Quote:
Originally Posted by pknopp View Post
It isn't but where were the complaints as it was growing to $9,000,000,000,000.00?

When you refuse to hold one party accountable the next one is going to be even worse because they know they can also get away with it.
 
Old 10-06-2015, 10:36 AM
 
Location: East Side St. Paul
123 posts, read 73,354 times
Reputation: 84
The only answer to this American conundrum is an extremist, far-right thinking movement. (or at least far-right thinking - the "extremist" part is more what I would like to see)


This is now happening in places that have traditionally been extremist, left-leaning places like Denmark and Sweden:


Why are anti-immigration parties so strong in the Nordic states? | News | The Guardian
 
Old 10-06-2015, 10:43 AM
 
5,266 posts, read 8,061,810 times
Reputation: 3469
Quote:
Originally Posted by greywar View Post
Its funny how so many people post factual responses about deficits falling under Obama, and other facts....which get promptly ignored by those cheerleading for the other side. Why are people refusing to comprehend or discuss facts? Ohhh...because its inconvenient truths. Got it.
Facts are all about how they're interpreted and presented. Both sides play the game.

Fact: Bush's highest annual budget deficit was $458 billion. That's still $25 billion less than Obama's lowest deficit of $483 billion in 2014.

When Obama touts the falling deficit - he's comparing it to his first year in 2009, which was a crazy high 1.4 trillion. If he would compare it 2008, the deficit actually increased from $458 billion to $483 billion in 2014.

Other facts ... National Debt will most likely double at the end of Obama's presidency.
 
Old 10-06-2015, 10:47 AM
 
28,411 posts, read 14,178,103 times
Reputation: 19546
Quote:
Originally Posted by pknopp View Post
It isn't but where were the complaints as it was growing to $9,000,000,000,000.00?
I was complaining. I used to say, "Bush is spending like a Democrat" all of the time.

My only change is that I recognize that practically every politician spends like a drunken sailor. This is why I am now a TEA Party person who wants to restrict the GOVERNMENT and not a specific party or ideology.
 
Old 10-06-2015, 10:48 AM
 
850 posts, read 262,739 times
Reputation: 467
Quote:
Originally Posted by ESK85 View Post
The only answer to this American conundrum is an extremist, far-right thinking movement. (or at least far-right thinking - the "extremist" part is more what I would like to see)


This is now happening in places that have traditionally been extremist, left-leaning places like Denmark and Sweden:


Why are anti-immigration parties so strong in the Nordic states? | News | The Guardian
I dunno it's pretty amusing reading an article that considers Social Democrats a "right-wing" party.
 
Old 10-06-2015, 10:49 AM
 
Location: la la land
27,329 posts, read 11,436,685 times
Reputation: 19329
Bush came into office in 2001 inheriting a surplus from President Bill Clinton. The CBO projected in the 10 years from 2001-2011 the total surplus would be 5.6 trillion dollars and the national debt would be paid off by 2011, this assumed that revenue remained the same and spending didn't increase higher than inflation. So why did President Bush leave office with a 10 trillion dollar debt instead of the projected surplus? First came government spending which increased over 5.6 trillion dollars, this on top of a huge tax cut that removed 6.1 trillion in revenue coming into the government.

When you factor in the debt almost everyone ignores the surplus that was left, if he had just kept taxes and spending at the same level President Bush would have left office with no national debt in stead of the 10.6 trillion he left. So if you want to be honest President Bush is responsible for all debt when President Obama took office, instead of inheriting a balanced budget and a surplus. Now factor in the yearly deficit that President Bush left President Obama of 500 billion dollars a year and the debt if Obama hadn't increased spending 1 penny would be at 13 trillion dollars all due to President Bush's policies. Now the debt is 18 trillion so President Obama has increased spending and added 5 trillion to the debt but far less than the 13 trillion Bush added and actually this years deficit as a percentage of GDP is lower than 2008.
 
Old 10-06-2015, 10:54 AM
 
Location: Purgatory
6,317 posts, read 4,452,934 times
Reputation: 9731
Quote:
Originally Posted by pknopp View Post
It isn't but where were the complaints as it was growing to $9,000,000,000,000.00?

When you refuse to hold one party accountable the next one is going to be even worse because they know they can also get away with it.
Exactly.

And unemployment is at its lowest rate ever (regardless of what the conspiracy theorists say) and that's not nothing. We're paying out less umemployment, less SSI, less medicaid and less Snap due to this.

Stocks are up. Real estate is up. Deficit is down and that should really be the main focus as any financial planner will tell you. We're on the right track financial wise.

Fiscal conservatives need to put their mouth where their money is- 1. boycott companies who do not pay living wages and make people dependent on the government. 2. Demand that defense spending be reduced.
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