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Old 08-12-2012, 11:22 AM
 
18,250 posts, read 16,917,013 times
Reputation: 7553

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Quote:
Originally Posted by Malloric View Post
Actually, the deficit decreased under Obama. Not doubled, not tripled. Decreased. And it had nothing to do with Republicans as they didn't gain control of House until 2010... they the allowed an increase in the deficit, although not to the levels achieved under Bush. Bushy has the dubious honor of nearly increasing the deficit by 10-fold. Good job, Bush!
Which is but one of the numerous reasons he is persona non grata at the Repub convention.

Mr. "I'm a war president! I'm a war president! I'm a war president!"
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Old 08-12-2012, 11:53 AM
 
Location: The Woodlands
805 posts, read 1,872,304 times
Reputation: 1077
Quote:
Originally Posted by Malloric View Post
Actually, the deficit decreased under Obama.
show us the numbers you are referring to....

wikipedia has

Year - $ increase in debt.
2006 575
2007 500
2008 1,018
2009 1,887
2010 1,653
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Old 08-12-2012, 11:55 AM
 
Location: The Woodlands
805 posts, read 1,872,304 times
Reputation: 1077
Quote:
Originally Posted by thrillobyte View Post
Which obligations are the most likely in your opinion?
My wild guess is that non-voters will be hit first....ie foreign holders of bonds
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Old 08-13-2012, 03:26 AM
 
3,786 posts, read 5,327,781 times
Reputation: 6269
Quote:
Originally Posted by Cranston View Post
show us the numbers you are referring to....

wikipedia has

Year - $ increase in debt.
2006 575
2007 500
2008 1,018
2009 1,887
2010 1,653
Malloric probably slept through his math classes, and now he *trusts* the b.s. pooped out by Obama and the Obamites. In my school, I was taught that numbers like 1,653 and 1,887 were larger than (>>) numbers like 575 and 500.



The "hockey stick" shape of Obama's doing is quite evident. http://upload.wikimedia.org/wikipedi..._1790-2009.png

And then there was that news report put out by that far far right news network -CBS- that stated that Obama increased the deficit more in his first 3 years (and 2 months) than Bush did in all of his 8 years. National Debt has increased more under Obama than under Bush - Political Hotsheet - CBS News

Last edited by Teak; 08-13-2012 at 03:39 AM..
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Old 08-13-2012, 07:48 AM
 
Location: Vallejo
21,874 posts, read 25,139,139 times
Reputation: 19072
Or I'm just not ignorant. Who do you think passed the 2009 budget? Hint: It wasn't Obama. It'll be like blaming Romney for the 2013 budget if (and I think he will) win the election. Not his budget, 2013 is Obama's budget.
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Old 08-13-2012, 07:44 PM
 
577 posts, read 1,001,183 times
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Don't worry everyone, whoever you root for from one of the two major parties, he/she will definitely solve this problem based on the history of the two major parties.
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Old 08-13-2012, 09:31 PM
 
Location: NJ
136 posts, read 224,738 times
Reputation: 133
I apologize in advance for my long post and rant but I couldn't pass this up.

The deficit did not double under Obama as you state. The vast majority of the 2009 budget was attributed to Bush. Second even if you ignore this previous point, Bush came into office with a 200+ billion dollar surplus and left his last year with a 500+ billion dollar deficit (but really 1+ trillion dollar deficit). So going on the 2008 number bush increased the annual deficit by 700-800 billion dollars (1.2 trillion 2009 numbers). Obama from 2010-2012 has actually maintained if not slightly decreased the annual deficit in the midst of a recession and recovery when spending surges and tax receipts fall. (The reason that the deficit spiked was because welfare programs (yes we are a socialist country) expanded rapidly to catch all the recent unemployed (ie food stamps, housing assistance, unemployment). At the same time the millions of unemployed stopped paying income taxes. Finally the government passed a series of small business tax cuts as well as income tax cuts to provide some relief from the recession.-In a nutshell).

Speaking of tax receipts, Bush's tax cuts led to an estimated 2 Trillion in lost revenue over 10 years. so not only is the deficit directly larger by 2+ trillion but the US has also paid intrest on the borrowed money amounting to billions every year. (Great move by bush)

You mention the Wars. The problem is winding down a war like that and supporting the newly formed government is not cheap at all. The Withdrawal only happened 8 months ago so the savings will only truly be seen going forward. Also much of the cost savings in Iraq were shifted into Afganistan with a troop surge. (not to mention the billions spent in Libya offset some of the cost savings as well). Iraq over its lifetime will cost the US about $3 trillion (up from an original estimate of $50-60 billion). (Another great move by bush).

I'm going to end my Bush-Bash early and not touch a few things I was going to (namely expansion of medicare).
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Old 08-13-2012, 10:03 PM
 
Location: home state of Myrtle Beach!
6,896 posts, read 22,526,677 times
Reputation: 4566
Quote:
Originally Posted by msdmoney View Post
Don't worry everyone, whoever you root for from one of the two major parties, he/she will definitely solve this problem based on the history of the two major parties.
And when they don't/can't solve the problem both parties will be bashed repeatedly and mis-information will be spread so wildly that you can't tell which is truth or lies. Oh wait, that's now!
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Old 08-13-2012, 10:10 PM
 
24,488 posts, read 41,138,516 times
Reputation: 12920
It's partially attributed to Bush's actions and partially attributed to Obama not understanding economics.
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Old 08-13-2012, 10:56 PM
 
3,786 posts, read 5,327,781 times
Reputation: 6269
Quote:
Originally Posted by bhsx1187 View Post
I apologize in advance for my long post and rant but I couldn't pass this up.
I see. So, how many years does Obama have to be president before any of it becomes his responsibility? Forever?



I guess I haven't gotten around to reading Obama's epic tome: Sun Tzu and the Art of Community Organization. What our country really needs now is a leader. Obama doesn't fit that position. Whiner, complainer, yes; but not leader. Finger-wagger...he's the BEST! But not leader.
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