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Old 10-06-2015, 12:23 PM
 
Location: ATX-HOU
10,218 posts, read 6,494,059 times
Reputation: 2033

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Quote:
Originally Posted by bluesjuke View Post
What do you think about the other 10 trillion bucks on top of that?
Let me ask you this: Do you think there will be more or less social spending following a major, global economic crisis?

 
Old 10-06-2015, 12:35 PM
 
Location: East Side St. Paul
123 posts, read 73,148 times
Reputation: 84
Quote:
Originally Posted by Chango View Post
Honestly, it would have happened no matter who was president. I'm no Obama fan but lets face it, he took the helm of the Titanic AFTER it had already hit an iceberg.
Only because this entire government is totally out of control lunatics spending and spending on things that don't matter and on things that were dubiously fabricated and are in place by the Bilderberg.



I'm an isolationist as well (as I said a fervent supporter of isolationists like Ron Paul because he would stop our meddling in other nations' affairs) so my views very much disagree with warmongering which no doubt is a large part of the trillions we have absolutely flushed down the effin toilet.



That is why I think there is no question there is a conspiracy to turn America in to a ****hole after they drain us dry. The sings are all so clear!
 
Old 10-06-2015, 05:43 PM
 
Location: New Orleans, La. USA
5,721 posts, read 2,619,201 times
Reputation: 2026
Quote:
Originally Posted by Loveshiscountry View Post
How can the budget be balanced but the debt increased?
From interest payments on the national debt.

In 1999 the interest payment on the national debt was $353 billion dollars.
https://www.treasurydirect.gov/govt/...ir_expense.htm

In 1999 the federal surplus was $157 billion dollars.
1999 United States Federal Budget


National debt 1999- $5,656,270,901,615.43
National debt 2000- $5,674,178,209,886.86

From 1999-2000 the debt went up $18 billion dollars.

http://treasurydirect.gov/govt/repor...ebt_histo4.htm
http://treasurydirect.gov/govt/repor...ebt_histo5.htm


Looking at the facts you should be asking the question why the debt did not increase more.
 
Old 10-06-2015, 05:44 PM
 
995 posts, read 465,515 times
Reputation: 746
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.
When it hit 8 trillion under Bush, Obama said it was UNamerican to do that.

In 6 years he more than doubled the total ... not what it went up to under Bush, but the total since the beginning of the country.


 
Old 10-06-2015, 05:45 PM
 
Location: New Orleans, La. USA
5,721 posts, read 2,619,201 times
Reputation: 2026
Quote:
Originally Posted by epliny View Post
When it hit 8 trillion under Bush, Obama said it was UNamerican to do that.

In 6 years he more than doubled the total ... not what it went up to under Bush, but the total since the beginning of the country.

How did Obama double the national debt?
What policies did Obama put into place that doubled the national debt?
 
Old 10-06-2015, 05:59 PM
 
995 posts, read 465,515 times
Reputation: 746
The year before Obama took office, the federal debt was $9.99 trillion.

According to his latest budget, the federal debt will reach $19.33 trillion in 2016, Obama's last year in office.
Interest on the debt this year will be $229 billion, and is scheduled to rise to $785 billion in 2025 under Obama's plan.

While true that deficits have fallen from a record $1.4 trillion in Obama's first year to $474 billion in 2016, deficits are set to begin rising again as soon as Obama leaves office, reaching $687 billion in 2025.


For comparison's sake, the highest deficit ever under President Bush was $458 billion.
 
Old 10-06-2015, 06:05 PM
 
23,851 posts, read 19,155,350 times
Reputation: 9377
Quote:
Originally Posted by ESK85 View Post
And counting....


Debt under Obama in this (once, no longer great) country has gone from $9,000,000,000,000.00 to $18,000,000,000,000.00 and soon to be $20,000,000,000,000.00.



I'd like for ONE PERSON in this thread - liberal or conservative - that can tell me that is in any way acceptable?



You know, I used to chuckle at conspiracy theorists who said Obama is trying to destroy America (financially and morally, among other ways) but no longer do I believe it is a conspiracy; America has almost been destroyed by his (not yet over) fiasco...


Never once has he demonstrated significant interest in controlling the debt and deficits. Only when the GOP forced his hand.
 
Old 10-06-2015, 06:05 PM
 
Location: Long Island, NY
19,712 posts, read 11,019,518 times
Reputation: 5600
Quote:
Originally Posted by Smash255 View Post
The deficit was $1.4 trillion his first year in office (it was $1.2 trillion before he even got into office), it has dropped every year since. Quite simply you aren't going to go from a deficit that high to little or no deficit in a short period of time, it will diminish overtime (and has) but obviously as a result will add to the overall national debt.
You are making too much sense for most of the CD crowd.

We were in the worst recession since the Great Depression and revenue dropped by $500 billion per year. Then, the automatic safety net spent more money on the unemployed. That's the cause of those high deficits.

Now, Obama tax policy has cut the deficit by 75%. The CBO now says that the debt is sustainable. More interesting is that the amount of interest the government pays is as low as it was in 2007.

So, what really is the problem with having the debt at the level it is today? Cutting it so that the budget is balanced would plunge the nation into recession.
 
Old 10-06-2015, 06:13 PM
 
Location: Long Island, NY
19,712 posts, read 11,019,518 times
Reputation: 5600
Quote:
Originally Posted by epliny View Post
The year before Obama took office, the federal debt was $9.99 trillion.

According to his latest budget, the federal debt will reach $19.33 trillion in 2016, Obama's last year in office.
Interest on the debt this year will be $229 billion, and is scheduled to rise to $785 billion in 2025 under Obama's plan.

While true that deficits have fallen from a record $1.4 trillion in Obama's first year to $474 billion in 2016, deficits are set to begin rising again as soon as Obama leaves office, reaching $687 billion in 2025.


For comparison's sake, the highest deficit ever under President Bush was $458 billion.
So, interest this year is $229 billion? That number sounds scary -- until you realize that it was higher a decade ago.

..........

The projection that makes it $785 billion (not adjusted for inflation) is only if interest rates rise much higher.

So, what is YOUR solution? I know, tax cuts.
 
Old 10-06-2015, 06:13 PM
 
Location: New Orleans, La. USA
5,721 posts, read 2,619,201 times
Reputation: 2026
Quote:
Originally Posted by epliny View Post
The year before Obama took office, the federal debt was $9.99 trillion.

According to his latest budget, the federal debt will reach $19.33 trillion in 2016, Obama's last year in office.
Interest on the debt this year will be $229 billion, and is scheduled to rise to $785 billion in 2025 under Obama's plan.

While true that deficits have fallen from a record $1.4 trillion in Obama's first year to $474 billion in 2016, deficits are set to begin rising again as soon as Obama leaves office, reaching $687 billion in 2025.


For comparison's sake, the highest deficit ever under President Bush was $458 billion.
GW Bush was in office from 2001-2009. In 2009 the deficit was $1.4 trillion dollars.

And as the conservative/libertarian CATO Institute says, Don't Blame Obama for Bush's 2009 Deficit | Cato @ Liberty
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