Debt under Obama: money well spent (mostly)

[The Rabbi]

Are you ever going to explain how tax cuts hurt the economy?

Or is that one piece of stupidity you no longer subscribe to........

He can't. He is incapable of such thought. Just like he can't wrap his mind around the idea the federal gov't is taking in more money now than ever before, and still running record deficits.
Or that Obama spent far more and achieved far less than Bush.

Man, you people are just unbelievable. For Christ sakes the other main contributing factor is low tax revenue.

Christ just read this article. It will explain it. If you still don't buy it, god help you.

Obama: Deficits falling at fastest rate since WWII. Is that true? - CSMonitor.com

Really?
Tax revenue is higher now than it's ever been. We established that way back. Haven't you learned anything?

 

[RKMBrown]

Lol you know your stupidity is more funny than it is annoying. I will give you that.

Are you ever going to explain how tax cuts hurt the economy?

Or is that one piece of stupidity you no longer subscribe to........

He can't. He is incapable of such thought. Just like he can't wrap his mind around the idea the federal gov't is taking in more money now than ever before, and still running record deficits.
Or that Obama spent far more and achieved far less than Bush.

In short, he's a typical low IQ, low effort, low morals, bottom feeding liberal.

 

[Sallow]

I'll wait for your answer.

Sorry..I'm kind of shocked.

But I guess you are about 16 or so and your parents never gave you the bad news about Reagan.

Savings & loan crisis[edit]
Savings and loan crisis in which 747 institutions failed and had to be rescued with $160 billion in taxpayer dollars.[28] Reagan's "elimination of loopholes" in the tax code included the elimination of the "passive loss" provisions that subsidized rental housing. Because this was removed retroactively, it bankrupted many real estate developments which used this tax break as a premise, which in turn bankrupted 747 Savings and Loans, many of whom were operating more or less as banks, thus requiring the Federal Deposit Insurance Corporation to cover their debts and losses with tax payer money. This with some other "deregulation" policies, ultimately led to the largest political and financial scandal in U.S. history to that date, the savings and loan crisis. The ultimate cost of the crisis is estimated to have totaled around USD $150 billion, about $125 billion of which was directly subsidized by the U.S. government, which further increased the large budget deficits of the early 1990s. See Keating Five.

As an indication of this scandal's size, Martin Mayer wrote at the time, "The theft from the taxpayer by the community that fattened on the growth of the savings and loan (S&L) industry in the 1980s is the worst public scandal in American history. Teapot Dome in the Harding administration and the Credit Mobilier in the times of Ulysses S. Grant have been taken as the ultimate horror stories of capitalist democracy gone to seed. Measuring by money, [or] by the misallocation of national resources... the S&L outrage makes Teapot Dome and Credit Mobilier seem minor episodes." [29]

Economist John Kenneth Galbraith called it "the largest and costliest venture in public misfeasance, malfeasance and larceny of all time."[30]
Reagan administration scandals - Wikipedia, the free encyclopedia

Sorry to screw up the myth, kid.

[ame=http://www.youtube.com/watch?v=bMAGARePPZ8]Freddy vs Comic Book geek and D&D Nerd - YouTube[/ame]

Reagan gave us massive tax cuts, reduced inflation from double digits down to 4%.
Revenues went from $599 billion in FY 1981 all the way down to $991 billion in FY 1989.
But that doesn't count, because the S&L bailout cost $125 billion?

Sorry to laugh at your myth.

Um..

Reagan left us with massive debt and deficit.

So much so that Bush sr. had to break his promise and raise taxes.

You guys really don't have a clue.

 

[Billy000]

Are you ever going to explain how tax cuts hurt the economy?

Or is that one piece of stupidity you no longer subscribe to........

He can't. He is incapable of such thought. Just like he can't wrap his mind around the idea the federal gov't is taking in more money now than ever before, and still running record deficits.
Or that Obama spent far more and achieved far less than Bush.

In short, he's a typical low IQ, low effort, low morals, bottom feeding liberal.

Doesn't it bother you to have such poor critical thinking skills? I mean I dont understand how you can generalize an entire group of people. How would you react if i said conservatives are nothing but a bunch of dumb, racist, and homophobic bigots?

 

[Billy000]

He can't. He is incapable of such thought. Just like he can't wrap his mind around the idea the federal gov't is taking in more money now than ever before, and still running record deficits.
Or that Obama spent far more and achieved far less than Bush.

Man, you people are just unbelievable. For Christ sakes the other main contributing factor is low tax revenue.

Christ just read this article. It will explain it. If you still don't buy it, god help you.

Obama: Deficits falling at fastest rate since WWII. Is that true? - CSMonitor.com

Really?
Tax revenue is higher now than it's ever been. We established that way back. Haven't you learned anything?

No, you dumbass. It was at its highest in 2000 at 20.7%. Why am i not surprised you aren't addressing the information in the article?

 

[RKMBrown]

Man, you people are just unbelievable. For Christ sakes the other main contributing factor is low tax revenue.

Christ just read this article. It will explain it. If you still don't buy it, god help you.

Obama: Deficits falling at fastest rate since WWII. Is that true? - CSMonitor.com

Really?
Tax revenue is higher now than it's ever been. We established that way back. Haven't you learned anything?

No, you dumbass. It was at its highest in 2000 at 20.7%. Why am i not surprised you aren't addressing the information in the article?

Lol.. retard does not even know what higher means.

 

[Billy000]

Really?
Tax revenue is higher now than it's ever been. We established that way back. Haven't you learned anything?

No, you dumbass. It was at its highest in 2000 at 20.7%. Why am i not surprised you aren't addressing the information in the article?

Lol.. retard does not even know what higher means.

You know Brown I think you are just pissed that the facts in the OP have shown how empty your political knowledge of the Obama administration is. You want desperately to cling to the bullshit republican dogma. In truth, most of it is bullshit. Obama has been a good president. Not great I'll admit, but good. In terms of the economy specifically, he has been an awesome president.

 

[Erand7899]

Sorry..I'm kind of shocked.

But I guess you are about 16 or so and your parents never gave you the bad news about Reagan.



Sorry to screw up the myth, kid.

Freddy vs Comic Book geek and D&D Nerd - YouTube

Reagan gave us massive tax cuts, reduced inflation from double digits down to 4%.
Revenues went from $599 billion in FY 1981 all the way down to $991 billion in FY 1989.
But that doesn't count, because the S&L bailout cost $125 billion?

Sorry to laugh at your myth.

Um..

Reagan left us with massive debt and deficit.

So much so that Bush sr. had to break his promise and raise taxes.

You guys really don't have a clue.

Wouldn't it be wonderful to be back to that "massive debt and deficit" that Reagan left?

In fact, it would be delightful to be back to the debt and deficit that Bush left.

Seven trillion and counting, an economy struggling, and foreign relations in tatters. But, you lefties keep the faith, your savior will make it all well in a few more years of idiocy.

 

[The Rabbi]

No, you dumbass. It was at its highest in 2000 at 20.7%. Why am i not surprised you aren't addressing the information in the article?

Lol.. retard does not even know what higher means.

You know Brown I think you are just pissed that the facts in the OP have shown how empty your political knowledge of the Obama administration is. You want desperately to cling to the bullshit republican dogma. In truth, most of it is bullshit. Obama has been a good president. Not great I'll admit, but good. In terms of the economy specifically, he has been an awesome president.

Billy, you have been utterly humiliated with every post. Literally everything you post is wrong. And I've bitch slapped you all over this site. And you come back and repeat the same garbage over and over like saying it makes it true.
So don't go calling other people's posts empty.

 

[Billy000]

Lol.. retard does not even know what higher means.

You know Brown I think you are just pissed that the facts in the OP have shown how empty your political knowledge of the Obama administration is. You want desperately to cling to the bullshit republican dogma. In truth, most of it is bullshit. Obama has been a good president. Not great I'll admit, but good. In terms of the economy specifically, he has been an awesome president.

Billy, you have been utterly humiliated with every post. Literally everything you post is wrong. And I've bitch slapped you all over this site. And you come back and repeat the same garbage over and over like saying it makes it true.
So don't go calling other people's posts empty.

Dude you are so transparent. Why do you kid yourself? It's unhealthy. You have lost this argument and you know it. Accept.

 

[Toddsterpatriot]

They weren't. Obama shouldn't have extended them.

Far left idealism at it's best.

Bush's tax cuts only created 4.6 jobs per million dollar cut. Every dollar lost in revenue only created .59 cents growth. They have greatly contributed to our debt.

Every dollar lost in revenue only created .59 cents growth.

People keep more of their own money, and economic growth is higher.

WIN-WIN!!!

 

[Toddsterpatriot]

Sorry..I'm kind of shocked.

But I guess you are about 16 or so and your parents never gave you the bad news about Reagan.



Sorry to screw up the myth, kid.

Freddy vs Comic Book geek and D&D Nerd - YouTube

Reagan gave us massive tax cuts, reduced inflation from double digits down to 4%.
Revenues went from $599 billion in FY 1981 all the way down to $991 billion in FY 1989.
But that doesn't count, because the S&L bailout cost $125 billion?

Sorry to laugh at your myth.

Um..

Reagan left us with massive debt and deficit.

So much so that Bush sr. had to break his promise and raise taxes.

You guys really don't have a clue.

Reagan left us with massive debt and deficit.

How much?

 

[Kosh]

They weren't. Obama shouldn't have extended them.

Far left idealism at it's best.

Bush's tax cuts only created 4.6 jobs per million dollar cut. Every dollar lost in revenue only created .59 cents growth. They have greatly contributed to our debt.

Far left propaganda at it's best.

 

[Kosh]

Sorry..I'm kind of shocked.

But I guess you are about 16 or so and your parents never gave you the bad news about Reagan.



Sorry to screw up the myth, kid.

Freddy vs Comic Book geek and D&D Nerd - YouTube

Reagan gave us massive tax cuts, reduced inflation from double digits down to 4%.
Revenues went from $599 billion in FY 1981 all the way down to $991 billion in FY 1989.
But that doesn't count, because the S&L bailout cost $125 billion?

Sorry to laugh at your myth.

Um..

Reagan left us with massive debt and deficit.

So much so that Bush sr. had to break his promise and raise taxes.

You guys really don't have a clue.

Speaking of those that don't have a clue.

I guess the far left will not be happy unless everyone is dependent government handouts.

 

[The T]

You know Brown I think you are just pissed that the facts in the OP have shown how empty your political knowledge of the Obama administration is. You want desperately to cling to the bullshit republican dogma. In truth, most of it is bullshit. Obama has been a good president. Not great I'll admit, but good. In terms of the economy specifically, he has been an awesome president.

Billy, you have been utterly humiliated with every post. Literally everything you post is wrong. And I've bitch slapped you all over this site. And you come back and repeat the same garbage over and over like saying it makes it true.
So don't go calling other people's posts empty.

Dude you are so transparent. Why do you kid yourself? It's unhealthy. You have lost this argument and you know it. Accept.

Just because you say so? Son? YOU lost this as well. Why not trod on and make another thread we can debunk just as easily as this one and that other pile of garbage you foisted?

YOU are out of your league.

 

[The Rabbi]

You know Brown I think you are just pissed that the facts in the OP have shown how empty your political knowledge of the Obama administration is. You want desperately to cling to the bullshit republican dogma. In truth, most of it is bullshit. Obama has been a good president. Not great I'll admit, but good. In terms of the economy specifically, he has been an awesome president.

Billy, you have been utterly humiliated with every post. Literally everything you post is wrong. And I've bitch slapped you all over this site. And you come back and repeat the same garbage over and over like saying it makes it true.
So don't go calling other people's posts empty.

Dude you are so transparent. Why do you kid yourself? It's unhealthy. You have lost this argument and you know it. Accept.

I've lost because you cannot acknowledge gov't revenue is higher now, both in absolute terms and in terms of per gdp, than any time in the last 4 years and yet we still are running enormous deficits?
Ive lost because the current deficit is still bigger than Bush's pre-recession deficits?
I've lost because unemployment is higher now, years into a so called recovery, than almost any point in Bush's 8 years?
Please, dude. Go read a book. Quit wasting everyone's time here with your idiotic statements that you cannot back up.

 

[Billy000]

Billy, you have been utterly humiliated with every post. Literally everything you post is wrong. And I've bitch slapped you all over this site. And you come back and repeat the same garbage over and over like saying it makes it true.
So don't go calling other people's posts empty.

Dude you are so transparent. Why do you kid yourself? It's unhealthy. You have lost this argument and you know it. Accept.

I've lost because you cannot acknowledge gov't revenue is higher now, both in absolute terms and in terms of per gdp, than any time in the last 4 years and yet we still are running enormous deficits?
Ive lost because the current deficit is still bigger than Bush's pre-recession deficits?
I've lost because unemployment is higher now, years into a so called recovery, than almost any point in Bush's 8 years?
Please, dude. Go read a book. Quit wasting everyone's time here with your idiotic statements that you cannot back up.

Higher by 1 percentage point doesn't mean high and you know it.

Obama's biggest spender is defense spending. That is something you conservatives should like. His second biggest spender was the Bush tax cuts. Also something you cons should like. However, overall I agree, lets cut spending.

Nothing will change the fact that financial crisis happened under his watch and were losing the most jobs per month during his presidency and very early on into Obama's. Obama's stimulus package turned that all around.

 

[Listening]

Nothing will change the fact that financial crisis happened under his watch and were losing the most jobs per month during his presidency and very early on into Obama's. Obama's stimulus package turned that all around.

Nobody will ever know if that is true or not.

We can't run a parallel experiment where we get to do it another way.

Making such a claim has to be a qualified claim at best.

To make an absolute claim is foolish and wrong.

 

[Gadawg73]

One only has to look at the dumb asses in this administration and how they can not even get a web site running after spending 700 million dollars on it.
Obama is a lame duck hack now and 10 years from now the deficit will be over 30 trillion because of his incompetence.
We have become a nation of village idiots. Having the IRS doing the books on the ACA.

 

[The Rabbi]

Dude you are so transparent. Why do you kid yourself? It's unhealthy. You have lost this argument and you know it. Accept.

I've lost because you cannot acknowledge gov't revenue is higher now, both in absolute terms and in terms of per gdp, than any time in the last 4 years and yet we still are running enormous deficits?
Ive lost because the current deficit is still bigger than Bush's pre-recession deficits?
I've lost because unemployment is higher now, years into a so called recovery, than almost any point in Bush's 8 years?
Please, dude. Go read a book. Quit wasting everyone's time here with your idiotic statements that you cannot back up.

Higher by 1 percentage point doesn't mean high and you know it.

Obama's biggest spender is defense spending. That is something you conservatives should like. His second biggest spender was the Bush tax cuts. Also something you cons should like. However, overall I agree, lets cut spending.

Nothing will change the fact that financial crisis happened under his watch and were losing the most jobs per month during his presidency and very early on into Obama's. Obama's stimulus package turned that all around.

It means higher. Do you have a reading comp issue?
Defense is 20% of the budget. Entitlement programs are 54%. So wrong again.
The Bush Tax cuts expired. You dont spend money on tax cuts, numbskull.
Obama's stimulus package was a failure, even by the standards the administration itself set.