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Old 07-24-2010, 09:21 AM
 
Location: Chicagoland
41,325 posts, read 44,846,839 times
Reputation: 7118

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washingtonpost.com

Quote:
The federal budget deficit, which hit a record $1.4 trillion last year, will exceed that figure this year and again in 2011, the White House predicted Friday, providing fresh ammunition to Republicans who are hammering President Obama for all the red ink as they campaign to regain control of Congress in November.
The government is borrowing 41 cents on every dollar it spends.

Quote:
"For more than a year and a half, the president and his Democrat allies on Capitol Hill have pushed an anti-business, anti-jobs agenda on the American people while adding trillions to the debt," Senate Minority Leader Mitch McConnell (R-Ky.) said in a statement.
Quote:
But the long-term forecast stayed about the same, with the White House predicting additional borrowing of $8.5 trillion through 2020, a sum that would drive the national debt to more than 77 percent of annual economic output.
Maybe they should think of cutting their budget, so they don't have to borrow?
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Old 07-24-2010, 09:25 AM
 
69,368 posts, read 63,935,278 times
Reputation: 9383
But Bushs deficit for 2007 was 10% of Obamas 2010 deficit, and still the left are shouting.. "Look at Bushs debt"..
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Old 07-24-2010, 09:27 AM
 
Location: Here
11,574 posts, read 13,910,356 times
Reputation: 6983
Quote:
Originally Posted by pghquest View Post
But Bushs deficit for 2007 was 10% of Obamas 2010 deficit, and still the left are shouting.. "Look at Bushs debt"..
Sit tight as you're sure to hear that Bush is the reason for Obama's deficit.
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Old 07-24-2010, 09:39 AM
 
Location: Chicagoland
41,325 posts, read 44,846,839 times
Reputation: 7118
Quote:
Originally Posted by pghquest View Post
But Bushs deficit for 2007 was 10% of Obamas 2010 deficit, and still the left are shouting.. "Look at Bushs debt"..
Amazing that $500 BILLION sends them into a frothing rage, but $9 TRILLION (2019) doesn't get the same response.
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Old 07-24-2010, 09:42 AM
 
Location: Southeast
4,301 posts, read 7,018,956 times
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Amazing considering that for FY2007, the deficit had fallen to $160 billion from a high of $412 billion in FY2004. FY2008 or FY2009 were predicted to show a budget surplus. Instead we hit recession and that $160 billion quickly multiplied to an estimated $1.6 trillion for 2010.
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Old 07-24-2010, 09:45 AM
 
69,368 posts, read 63,935,278 times
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Quote:
Originally Posted by sanrene View Post
Amazing that $500 BILLION sends them into a frothing rage, but $9 TRILLION (2019) doesn't get the same response.
2007 deficits were $162B...
$400 billion deficit to greet Bush's successor - USATODAY.com

Bushs TOTAL deficits during the 6 years of Republican controlled Congress were about the same size as Obamas ONE YEAR 2010/2011 deficit projections.

But yet liberals still keep moaning "look at Bushs debt".. Thats fine, lets look at it..
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Old 07-24-2010, 09:48 AM
 
33,387 posts, read 34,703,593 times
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so much for the liar in chiefs campaign promise of fiscal responsibility.
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Old 07-24-2010, 09:48 AM
 
69,368 posts, read 63,935,278 times
Reputation: 9383
Quote:
Originally Posted by Frankie117 View Post
Amazing considering that for FY2007, the deficit had fallen to $160 billion from a high of $412 billion in FY2004. FY2008 or FY2009 were predicted to show a budget surplus. Instead we hit recession and that $160 billion quickly multiplied to an estimated $1.6 trillion for 2010.
Yeah, and you have to look at the fact that deficits were dropping while revenue increasing at the same time Bushs tax cuts were kicking in.. How odd.
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Old 07-24-2010, 10:20 AM
 
5,036 posts, read 5,124,621 times
Reputation: 2356
Quote:
Originally Posted by sanrene View Post
washingtonpost.com



The government is borrowing 41 cents on every dollar it spends.





Maybe they should think of cutting their budget, so they don't have to borrow?

Come on now, we all know its the fault of one man, one party. Bush and the GOP. The new rules that took affect in 09 were:

1. If something negative happens at all during the Obama tenure, it is obviously Bush's fault, no matter what.

2. If something positive actually happens, it is the responsibility of the media to give Obama praise for it, and for Obama to accept the praise and take credit for whatever it may be.
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Old 07-24-2010, 10:40 AM
 
Location: Chicagoland
41,325 posts, read 44,846,839 times
Reputation: 7118
Quote:
Originally Posted by BucsLose View Post
Come on now, we all know its the fault of one man, one party. Bush and the GOP. The new rules that took affect in 09 were:

1. If something negative happens at all during the Obama tenure, it is obviously Bush's fault, no matter what.

2. If something positive actually happens, it is the responsibility of the media to give Obama praise for it, and for Obama to accept the praise and take credit for whatever it may be.
Remind me again - which party had the reins of congress (appropriation power) in 2007 and beyond?
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