Debt under Obama: money well spent (mostly)

[Billy000]

Obama's biggest contribution to the debt (in terms of policy) was his stimulus package of 787 billion which was achieved by cutting taxes, extending unemployment benefits, and job creating public works projects. For the next two years, 858 billion was added because of he extended Bush's tax cuts. He increased defense spending by 800 billion a year. What also contributed to the debt under Obama was the low federal income because of low income tax receipts from 2008 financial crisis.

Both Obama and Bush had to contend with higher mandatory spending for social security and Medicare. The Patient Control and ACA was designed to reduce the debt by 143 billion over 10 years but these savings didn't show up til late.


US Debt by President


Here is what Obama did wrong: Extending the Bush tax cuts. The CBO estimates that the Bush tax cuts created 4.6 jobs for every million dollar cut. That is pathetic job growth. Bush was stupid to introduce them and Obama was stupid to extend them. Reductions in the tax rate actually hurt the economy. Every dollar lost in tax revenue only creates 59 cents in growth.

Do Tax Cuts Create Jobs?

What Obama did right: extending unemployment benefits. Not only did this provide relief to the Americans out of work, but it also helped the economy. 19 jobs were created per 1 million in benefits. Every 1 billion, creates 19,000 jobs. Not only that, but every dollar spent on these benefits created $ 1.73 in economic demand. This is because the unemployed spend every dollar they receive on basic essentials, such as food, clothing, and housing. It is estimated that every month these benefits were extended cost tax payers $10 billion. However, it also generated 17.3 billion in economic growth.. Without benefits during this time, demand drops.

Why Extended Federal Unemployment Benefits Boost the Economy

Obama so-so spending was his increase in defense spending which did both good and bad, depending on how you look at it.

Lets not forget that there was no spending growth under Obama from Bush's years.

I was right: Under Obama, spending has been flat - Rex Nutting - MarketWatch

Also, 2.5x more jobs were created under Obama's 5 years than all of Bush's 8.

Obama?s Numbers, October Update

What's the bottom line? Republican economic policies only help the wealthy and government can and does create jobs

 

[HelenaHandbag]

Well, we don't honestly expect that Dear Leader's water is going to carry itself, do we?

 

[Stephanie]

Lets all say three Hail Obama's and bow

He could of given that 800 Billions dollars he stole and called a stimulus to the Taxpayers and they could "stimulated" things better than what ever the hell he did with it..

we won't ever know because there is NO frikken accounting to us and what he spent it on

We did get a few pretty signs out it

 

[Listening]

Oh great...another thread that somehow is supposed to "prove" something".

Deficits are caused when revenues don't keep up with expeditures.

And not every president has it equally as bad.

Reagan got Carter's sh&tstorm and Obama got Bush's.

The fact remains that while Obama may not have spent (not saying he didn't) up a ton....his revenues fell and he kept on spending. That isn't what you do at home and that isn't what Obama should have done.

Sorry...don't have the bucks.....put away the card.

And the stimulus....5 years later has turned out to be a huge failure.

 

[tyroneweaver]

another thread just to bash bush. Maybe bush deserved some it, maybe some not so much
but to think obama is somehow not rewarding his cronies is ridiculous.
solyndra, his wifes friend on the aca software.

and the 85 billion going into the stock market, which is adding to the national debt but was left out of the figures above

 

[Nyvin]

And the stimulus....5 years later has turned out to be a huge failure.

Ummm...what? Are you suggesting we should've just let the economy tank? Do you have conclusive proof of this claim? Do you know for certain what would've happened had the companies not been bailed out? would the recession have turned into a depression? Do we really know? Do we want to know?

 

[Billy000]

Oh great...another thread that somehow is supposed to "prove" something".

Deficits are caused when revenues don't keep up with expeditures.

And not every president has it equally as bad.

Reagan got Carter's sh&tstorm and Obama got Bush's.

The fact remains that while Obama may not have spent (not saying he didn't) up a ton....his revenues fell and he kept on spending. That isn't what you do at home and that isn't what Obama should have done.

Sorry...don't have the bucks.....put away the card.

And the stimulus....5 years later has turned out to be a huge failure.

Yeah you're right. Obama has spent a lot.

No, the stimulus was very much not a failure.

 

[Vox]

you mean flushing the money down the toilet a.k.a. solyndra and failed web for healthcare?

yeah, I can see how that money is "well spent" - into the pockets of obama supporters.

It's called corruption, dear, and is a criminal offense.

 

[HelenaHandbag]

Oh great...another thread that somehow is supposed to "prove" something".

Deficits are caused when revenues don't keep up with expeditures.

And not every president has it equally as bad.

Reagan got Carter's sh&tstorm and Obama got Bush's.

The fact remains that while Obama may not have spent (not saying he didn't) up a ton....his revenues fell and he kept on spending. That isn't what you do at home and that isn't what Obama should have done.

Sorry...don't have the bucks.....put away the card.

And the stimulus....5 years later has turned out to be a huge failure.

Yeah you're right. Obama has spent a lot.

No, the stimulus was very much not a failure.

Five years later, over $1 trillion in fake stimulus spending, $85 billion being pumped into the market by the Fed each month, and economic growth still can't break the 3% barrier?

If that's success, I'd like to know what failure looks like.

 

[Vox]

Oh great...another thread that somehow is supposed to "prove" something".

Deficits are caused when revenues don't keep up with expeditures.

And not every president has it equally as bad.

Reagan got Carter's sh&tstorm and Obama got Bush's.

The fact remains that while Obama may not have spent (not saying he didn't) up a ton....his revenues fell and he kept on spending. That isn't what you do at home and that isn't what Obama should have done.

Sorry...don't have the bucks.....put away the card.

And the stimulus....5 years later has turned out to be a huge failure.

^^^this is the ultimate truth.

unless, of course, one views taxpayers money landing up in the pockets of obama supporters for the overpriced FAILED projects as a "success" as out obama worshipers do.

 

[Stephanie]

Oh great...another thread that somehow is supposed to "prove" something".

Deficits are caused when revenues don't keep up with expeditures.

And not every president has it equally as bad.

Reagan got Carter's sh&tstorm and Obama got Bush's.

The fact remains that while Obama may not have spent (not saying he didn't) up a ton....his revenues fell and he kept on spending. That isn't what you do at home and that isn't what Obama should have done.

Sorry...don't have the bucks.....put away the card.

And the stimulus....5 years later has turned out to be a huge failure.

Yeah you're right. Obama has spent a lot.

No, the stimulus was very much not a failure.

really, where are all those "shovel ready jobs" NOW? Almost a Trillion dollars he stole from us... and he said it would bring down unemployment, STILL 7.4% SIX painful years later and a 800 Billion dollar stimulus.

Obama lies a lot..you just still fall for it...60% disapprove of him so I'd say it's you who is wrong, not them

 

[Billy000]

Oh great...another thread that somehow is supposed to "prove" something".

Deficits are caused when revenues don't keep up with expeditures.

And not every president has it equally as bad.

Reagan got Carter's sh&tstorm and Obama got Bush's.

The fact remains that while Obama may not have spent (not saying he didn't) up a ton....his revenues fell and he kept on spending. That isn't what you do at home and that isn't what Obama should have done.

Sorry...don't have the bucks.....put away the card.

And the stimulus....5 years later has turned out to be a huge failure.

Yeah you're right. Obama has spent a lot.

No, the stimulus was very much not a failure.

really, where are all those "shovel ready jobs" NOW? Almost a Trillion dollars he stole from us... and he said it would bring down unemployment, STILL 7.4% SIX painful years later and a 800 Billion dollar stimulus.

Obama lies a lot..you just still fall for it...60% disapprove of him so I'd say it's you who is wrong, not them

You people aren't reading my OP. Read what was said about extending unemployment benefits and Obama's record on job growth verses Bush.

Oh and the GOP approval ratings are much worse

 

[Stephanie]

You have to love how they crow unemployment benefits boost the economy.

why the hell wouldn't money stolen from Taxpayers to give out to someone living off them for Two frikken years boost the economy...the heck with it if you couldn't feed your families though because of "extended" benefits

dear gawd save us we are in deep doo doo

 

[Billy000]

you mean flushing the money down the toilet a.k.a. solyndra and failed web for healthcare?

yeah, I can see how that money is "well spent" - into the pockets of obama supporters.

It's called corruption, dear, and is a criminal offense.

Solyndra was a half a billion dollar failure.

 

[Billy000]

You have to love how they crow unemployment benefits boost the economy.

why the hell wouldn't money stolen from Taxpayers to give out to someone living off them for Two frikken years boost the economy...

dear gawd save us we are in deep doo doo

Again, you aren't reading the OP.

Christ almighty.

 

[Stephanie]

You have to love how they crow unemployment benefits boost the economy.

why the hell wouldn't money stolen from Taxpayers to give out to someone living off them for Two frikken years boost the economy...

dear gawd save us we are in deep doo doo

Again, you aren't reading the OP.

Christ almighty.

I've read enough of the BS...
We are all Living it we don't need to read anything

 

[Remodeling Maidiac]

So first you make a thread stating Obama's spending wasn't high. And failed miserably with it I might add. Then now you've been resolved to saying the spending he's done was good.

YOU are a top notch FOOL.

 

[Billy000]

You have to love how they crow unemployment benefits boost the economy.

why the hell wouldn't money stolen from Taxpayers to give out to someone living off them for Two frikken years boost the economy...

dear gawd save us we are in deep doo doo

Again, you aren't reading the OP.

Christ almighty.

I've read enough of the BS...
We are all Living it we don't need to read anything

Very mature, Steph. I am glad you are making a concerted effort to be an informed US citizen.

 

[Gadawg73]

Liberals consider all money they plunder from producers to give to the moocher class "well spent".
Legal theft is always easier than having to earn it.

 

[Stephanie]

Again, you aren't reading the OP.

Christ almighty.

I've read enough of the BS...
We are all Living it we don't need to read anything

Very mature, Steph. I am glad you are making a concerted effort to be an informed US citizen.

sorry Obama/Democrat sheep aren't "informing" anyone just by cherry picking a bunch of links nobody follows...it's making excuse after excuse after excuse for the man...