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You can whine about it all you want, the underlying data is from the CBO.
You fail to address any questions when it comes to obama's massive spending and what that will do to the debt and deficit. Do you deny the CBO figures?
You can whine about it all you want, the underlying data is from the CBO.
You fail to address any questions when it comes to obama's massive spending and what that will do to the debt and deficit. Do you deny the CBO figures?
That is exactly what I've been talking about - that CBO chart you like so much compares two different things.
First, it has Bush at 450 billion deficit.
- No wars, AMT trick, other budget tricks
- started TARP, not on budget
- Recession not listed on budget
Second, it has Obama at 1.85 trillion deficit.
- Added Wars, Transparency ($400 billion this year, $2.7 trillion over 10 years)
- TARP ($500 billion)
- Recession accounts for $303 billion
The Obama deficit consists of roughly $1.6 trillion signed into law and occurring (recession) before he was in office. That is as simple as I can make it.
The Obama deficit consists of roughly $1.6 trillion signed into law and occurring (recession) before he was in office. That is as simple as I can make it.
That's pretty good spin, as usual, but misleading and inaccurate.
Click on the first "Data" link. Take special note of CBO's Baseline estimates, CBO's Estimate of Presidents Budget, Difference between the two and really take a look at Total Deficit as a % of GDP (a whopper), and Debt help by public as a % of GDP.
Debt Held by the Public
as a Percentage of GDP
CBO's baseline 40.8 54.8 60.1 62.0 61.6 60.7 60.2 59.5 59.0 58.5 56.1 56.1 n.a. n.a.
CBO's estimate of the
President's budget 40.8 56.7 64.9 68.6 70.2 71.3 73.0 74.9 77.1 79.3 78.7 81.7 n.a. n.a.
Obama--as well as virtually every other economist who's weighed in on the American economy--said, months ago, that things would get worse before they got better.
Nobody in their right mind expects Obama or Congress to reverse the economy in a mere few months. It took us years to get here. It will take years to recover.
Except maybe his own economic team which said we have to have a $700 billion stimulus or unemployment may hit a whopping 8%.
Obama confronts doubts on stimulus, vows faster spending - Los Angeles Times (http://www.latimes.com/news/nationworld/washingtondc/la-na-obama-stimulus9-2009jun09,0,5788007.story - broken link)
For some reason, people with no training in economics whatsoever feel perfectly justified in their "opinions" on the economy. Especially if it offers yet another chance to trash Obama.
Yes, I know you can copy and paste.
And you see the totals.
You've proven that you can tell one number is bigger than another number.
But that is all you've proven.
The majority of those totals again, were in place before Obama got in office.
This is what you refuse to understand.
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