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10-07-2009, 06:12 PM
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Location: Chicagoland
41,321 posts, read 43,689,529 times
Reputation: 7118
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CBO: Budget Deficit Hit Record $1.4T in 2009 - ABC News
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The Congressional Budget Office estimate, while expected, is bad news for the White House and its allies in Congress as they press ahead with health care overhaul legislation that could cost $900 billion over the next decade.
The previous record deficit was $459 billion and was set just last year.
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Quote:
The Obama health plan would be "paid for" with new revenues and curbs in spending. But the overhaul effort would eat up tax increases and spending cuts that could be used to bring the deficit down.
On those terms, the 2009 deficit reached almost 10 percent of gross domestic product, a level not witnessed since World War II.
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Yeah, let's spend another trillion we don't have, putting the burden on taxpayers once again, costing jobs and income.
Smart power.
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10-07-2009, 06:52 PM
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13,183 posts, read 14,526,333 times
Reputation: 4550
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I make it a point to never take finacial advice about deficits from folks who never uttered a word about Bush's record deficits.
It's plainly political rhetoric from those on the losing side of an election.
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10-07-2009, 07:53 PM
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Location: Chicagoland
41,321 posts, read 43,689,529 times
Reputation: 7118
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And yet you wailed and gnashed teeth about Bush's $458 Billion deficit. How do you reconcile that in your mind, considering obama has a deficit almost 4 times that of Bush's?
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10-07-2009, 07:55 PM
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81 posts, read 115,669 times
Reputation: 34
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This country will never dig itself out of the hole. Doing what? Designing webpages? All our productive jobs are overseas and is our manufacturing base. This country can't clothe itself, thank God we still have some intelligent farmers.
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10-07-2009, 07:58 PM
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Location: FL/TX Coasts
1,464 posts, read 3,979,061 times
Reputation: 433
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Quote:
Originally Posted by sanrene
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...W inherited a SUPLUS, and succefully truned it into a DEFICIT...
some one has to pay for this mess....You & I. simple it is. |
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10-07-2009, 08:02 PM
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13,183 posts, read 14,526,333 times
Reputation: 4550
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Quote:
Originally Posted by Cougar31
...W inherited a SUPLUS, and succefully truned it into a DEFICIT...
some one has to pay for this mess....You & I. simple it is.
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45% of the stimulus was comprised of less effective tax cuts that the GOP insisted should be in the bill.
Now they have the nerve to complain about deficits! |
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10-07-2009, 08:03 PM
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Location: Chicago Suburbs
3,189 posts, read 4,175,656 times
Reputation: 1176
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Quote:
Originally Posted by Cougar31
...W inherited a SUPLUS, and succefully truned it into a DEFICIT...
some one has to pay for this mess....You & I. simple it is.
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Pay for debt by spending many times more?
Where did you go to school? |
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10-07-2009, 08:04 PM
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Location: southern california
61,284 posts, read 84,730,984 times
Reputation: 55499
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i am not sure we have the money for universal health.
and i am a tree hugger
we are spending way too much.
ps of course the war mongers are perfectly ok with a trillion for DOD no issues there
if jr is serving in blackwater with a 6 figure salary.
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10-07-2009, 08:11 PM
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Location: the very edge of the continent
84,191 posts, read 40,780,900 times
Reputation: 12557
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Quote:
Originally Posted by Cougar31
...W inherited a SUPLUS, and succefully truned it into a DEFICIT...
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Surplus? What surplus? Every year of Clinton's presidency, the national debt increased. In fact, the budget for the fiscal year ending September 29, 2001 resulted in a $133 billion deficit.
Check it yourself:
Debt to the Penny (Daily History Search Application) |
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10-07-2009, 08:12 PM
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19,180 posts, read 30,632,056 times
Reputation: 4012
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Quote:
Originally Posted by sanrene
CBO: Budget Deficit Hit Record $1.4T in 2009
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So, what you're really saying is what a great job Obama did in bringing the FY2009 deficit down from the projected $1.9 trillion you were whining about all Spring. |
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