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Old 06-06-2009, 02:32 PM
 
Location: Chicagoland
41,325 posts, read 44,811,735 times
Reputation: 7118

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Here is an excellent graph of public debt; Notice where things start to go really wrong;

http://www.cbo.gov/

http://www.cbo.gov/homepagegraphics/0xx/1/graphic1.gif (broken link)

See that light blue line "CBO's reestimate of the president's budget? That is obama's budget.
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Old 06-06-2009, 02:35 PM
 
Location: Chicagoland
41,325 posts, read 44,811,735 times
Reputation: 7118
Quote:
See your graphic?
Last year it claimed a roughly $450 billion deficit.
Ok, just for giggles, let's assume bush's budget deficit is $1 Trillion. Obama has doubled that with his unfunded spending.

Next excuse.
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Old 06-06-2009, 02:37 PM
 
2,661 posts, read 2,895,296 times
Reputation: 366
Quote:
Originally Posted by sanrene View Post
Ok, just for giggles, let's assume bush's budget deficit is $1 Trillion. Obama has doubled that with his unfunded spending.

Next excuse.
Why assume anything?

1.3 trillion was the deficit.
So no, not double.

Adding the cost of TARP (500 billion), with fewer tax revenue ($300 billion) to this year's stimulus (200 billion) did take the deficit to 1.8 (includes some cuts).
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Old 06-06-2009, 02:39 PM
 
69,368 posts, read 63,876,867 times
Reputation: 9383
Quote:
Originally Posted by sanrene View Post
Here is an excellent graph of public debt; Notice where things start to go really wrong;

Congressional Budget Office - Home Page

See that light blue line "CBO's reestimate of the president's budget? That is obama's budget.
An even better graph

Ahh yes, sure looks like that deficit trippled under Obama.. Sure it drops after that, but there is no way to pay for all of this, and the drop at this point is simply speculation..
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Old 06-06-2009, 02:45 PM
 
Location: Chicagoland
41,325 posts, read 44,811,735 times
Reputation: 7118
http://www.cbo.gov/ftpdocs/100xx/doc...dentBudget.pdf

Look at Table 1-1.

Let me qualify - for those that can comprehend the numbers.

Quote:
Why assume anything?

1.3 trillion was the deficit.
So no, not double.
According to the CBO, the 2008 deficit was $459 Billion - obama has quadrupled that in 4 1/2 short months. Never let a crisis go to waste - Rahm

Obama's deficit spending will double the national debt as well.

Quote:
Your graphic, again - is bunk.
Bunk to you due to your enamored state and deep denial.
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Old 06-06-2009, 02:45 PM
 
5,165 posts, read 6,035,001 times
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Quote:
Originally Posted by pghquest View Post
An even better graph

Ahh yes, sure looks like that deficit trippled under Obama.. Sure it drops after that, but there is no way to pay for all of this, and the drop at this point is simply speculation..
The drop after that is based on the administration warped forecasting figures.
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Old 06-06-2009, 02:58 PM
 
Location: Chicagoland
41,325 posts, read 44,811,735 times
Reputation: 7118
Quote:
The drop after that is based on the administration warped forecasting figures.
His "rosy scenario" estimates, shown here, side by side with the CBO estimates;

http://hotair.cachefly.net/images/2009-03/wapoobamabudget1.jpg (broken link)
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Old 06-06-2009, 03:27 PM
 
2,661 posts, read 2,895,296 times
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Quote:
Originally Posted by sanrene View Post
His "rosy scenario" estimates, shown here, side by side with the CBO estimates;
I get the impression reading is an issue for you.

Ok, let me try again.
That graphic:

LEFT SIDE = NO WARS INCLUDED
RIGHT SIDE = WARS COST INCLUDED

LEFT SIDE = BUDGET TRICKS
RIGHT SIDE = NO BUDGET TRICKS

LEFT SIDE = NO TARP
RIGHT SIDE = INCLUDES TARP

RIGHT SIDE ALSO HAS $300 BILLION LESS TAX REVENUE IMPACTING THE DEFICIT, AS A RESULT OF THE ECONOMY
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Old 06-06-2009, 03:29 PM
 
4,410 posts, read 6,122,087 times
Reputation: 2908
So, to sum things up between you two, Obama's deficit is only slightly worse than Bush's. How would anyone have thought it would be different? Or how would anyone have expected it to be zero? It's very hard to turn this racing train of an economy around, it needs a lot of track.

Even the unemployment figures from the Bush years were calculated differently. Every administration seems to tweak the numbers to their advantage. Why are we wasting out time, as in sanrene's case, placing blame on only one head of this two-headed monster? The situation sucks. People are out of work. We are broke as a nation and were broke before Bush left office. Anyone got any ideas or do you just want to stroke your ego and say "I told you so" and "I hate Obama"?
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Old 06-06-2009, 03:29 PM
 
2,661 posts, read 2,895,296 times
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Quote:
Originally Posted by cleanhouse View Post
The drop after that is based on the administration warped forecasting figures.
And the faulty $450 billion deficit figure you guys love to trot out.
It isn't accurate.
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