Federal Debt Up $7 Trillion Under Obama

[kaz]

Deficits didn't matter under Reagan, didn't matter under Bush....surely dont matter under Obama

Why should anyone care?

LOL, what do those all have in common? Democratic congresses...

Who cares about debt?

It doesn't matter when Republicans are President, who cares if Obama does it?

Actually, as is typical you are full of crap. Fiscal conservatives cared under Reagan and W and they care under Obama. It is you who cared then and don't now. Grow up and be honest.

 

[EriktheRed]

Don't worry. It's Bush's fault.

There problem solved.

Doesn't the House allocate spending?

Sort of.
Who controlled the House from 2006 to 2010? What happened when the GOP House didnt want to increase spending any more? Didnt Obama and the Democrats engineer the "Tea Party Government Shutdown" and didnt Obama issue orders to close open air parks? Yes, that did happen.
Your ignorance adn stupidity are cloying.

1) Republicans still controlled both Houses and the WH in 2006.

2) If Obama and the Democrats "engineered" last year's gov't shutdown, they had a lot of help from teabagging wingnuts - most notably form a certain prick Senator from Texas - egging them on.

3) You're still a not-very-bright wingnut who highlights his not-very-brightness when you say stupid shit like "Your ignorance adn stupidity are cloying" after being wrong on facts yourself.

But please proceed anyway....

 

[rightwinger]

Debt doesn't matter

 

[EriktheRed]

Debt doesn't matter

But wait, wasn't OIL supposed to pay for the Iraq part????

 

[Siete]

He had to spend to dig us out of the hole that Bush Junior dug for the country. W should have been named Hoover Jr, instead of Bush Jr.

Republicans are racists! No wait, strike that, we're going with it's W's fault this time...

there you go again with the r word .... get a grip.

 

[EriktheRed]

...we're going with it's W's fault this time...

Good idea.

 

[Siete]

Deficits didn't matter under Reagan, didn't matter under Bush....surely dont matter under Obama

Why should anyone care?

LOL, what do those all have in common? Democratic congresses...

democratic congress ... aren't too smart are you?


Policymakers enacted the Bush tax cuts in 2001 and 2003 and extended them in 2010; they are set to expire at the end of 2012. As the first chart shows, the tax cuts have been a key driver of the federal deficit and will account for $4.5 trillion in deficits over the 2009-2019 period if extended.


http://www.cbpp.org/cms/?fa=view&id=3873


several charts worthy of mention .... unless you're a RW'r

 

[blackhawk]

I think it's only fair to say debt didn't exist before Obama was elected.

I'm pretty sure no one said that though it seems to matter a lot less to some since he was elected.

 

[kaz]

He had to spend to dig us out of the hole that Bush Junior dug for the country. W should have been named Hoover Jr, instead of Bush Jr.

Republicans are racists! No wait, strike that, we're going with it's W's fault this time...

there you go again with the r word .... get a grip.

LOL, I never see you say that to liberals doing that over and over, it's just objecting to liberals endlessly going to racism you object to...

 

[kaz]

Deficits didn't matter under Reagan, didn't matter under Bush....surely dont matter under Obama

Why should anyone care?

LOL, what do those all have in common? Democratic congresses...

democratic congress ... aren't too smart are you?


Policymakers enacted the Bush tax cuts in 2001 and 2003 and extended them in 2010; they are set to expire at the end of 2012. As the first chart shows, the tax cuts have been a key driver of the federal deficit and will account for $4.5 trillion in deficits over the 2009-2019 period if extended.


Chart Book: The Bush Tax Cuts ? Center on Budget and Policy Priorities


several charts worthy of mention .... unless you're a RW'r

Or a libertarian. I'll let you argue with Republicans since that's all you're interested in. But you know nothing about economics.

 

[auditor0007]

To pay off the National Debt, we'd have to cut government spending to zero fro about 4 years. Proposals of saving a billion here and a hundred million there isn't gonna touch the debt and is simply politics, not actual methodology to pay it off.

If we cut spending by 25%, say a trillion in any given year, and used that to pay down the debt it'd still take about 20 years. But we'd be crippled in that time. In which case the debt would not be our biggest problem any more.

The debt is so large that there's no real way to ever pay it off that doesn't result in taking our own knees out economically. All the debate about the debt is over political maneuvering, not actual solutions to do anything about it. Plus to actually try and do anything about it, the house of cards of very money system is built upon would come crashing down. It wouldn't be a depression, it'd be an apocalypse. And that's not hypoerbole, that's factual reality. The country'd end. Fast and loudly.

The point is not to wipe out the debt but to reduce it as a percentage of GDP so we are not paying huge amounts of interest on it. In order to do this, spending must be kept within reason, and that can include a small yearly deficit, so long as growth in GDP outpaces the deficit.

 

[The Rabbi]

It's what happens when you cut taxes and use the credit card to spend like a drunken sailor on a war of choice.

Make that TWO wars of choice and add the mortgage banks sucking trillions out though the housing crisis and crashing the economy in the first place.

Why do these idiots think that the shit hit the fan in 2009? Are they that stupid?

So why didnt Democrats end the wars when they came to power in 2006?
The banks have paid back all the loans, with interest. Only Fannie/Freddie are still costing money.

You are a typically low information asshole.

 

[Interpol]

Not this stupid topic again. The yearly deficit has fallen each year President Obama has been in office. The only real bit of spending you can blame him for is his stimulus.

Everything else is Bush's crap. Bush and the Republicans left this country with two unpaid wars, Medicare Part D, and the new massive expansion of government in the Dept. of Homeland Security, and then an extension of 2 years of the Bush Tax Cuts.

More than 75% of the $7 trillion added to the debt is for Bush and Republican shit. They left the rest of us to pay the bill and now blame us for paying it. Well, fuck them.

 

[Interpol]

It's what happens when you cut taxes and use the credit card to spend like a drunken sailor on a war of choice.

Make that TWO wars of choice and add the mortgage banks sucking trillions out though the housing crisis and crashing the economy in the first place.

Why do these idiots think that the shit hit the fan in 2009? Are they that stupid?

So why didnt Democrats end the wars when they came to power in 2006?
The banks have paid back all the loans, with interest. Only Fannie/Freddie are still costing money.

You are a typically low information asshole.

Democrats didn't have control of the White House in 2006, retard.

Besides, unlike Republicans, Democrats were supporting their President and wanted the wars to work out.

Republicans never support Democratic Presidents and never want anything to work out when they're in the White House.

 

[blackhawk]

Make that TWO wars of choice and add the mortgage banks sucking trillions out though the housing crisis and crashing the economy in the first place.

Why do these idiots think that the shit hit the fan in 2009? Are they that stupid?

So why didnt Democrats end the wars when they came to power in 2006?
The banks have paid back all the loans, with interest. Only Fannie/Freddie are still costing money.

You are a typically low information asshole.

Democrats didn't have control of the White House in 2006, retard.

Besides, unlike Republicans, Democrats were supporting their President and wanted the wars to work out.

Republicans never support Democratic Presidents and never want anything to work out when they're in the White House.

No that is when they took control of Congress both House and Senate which is where spending comes from.

 

[Interpol]

So why didnt Democrats end the wars when they came to power in 2006?
The banks have paid back all the loans, with interest. Only Fannie/Freddie are still costing money.

You are a typically low information asshole.

Democrats didn't have control of the White House in 2006, retard.

Besides, unlike Republicans, Democrats were supporting their President and wanted the wars to work out.

Republicans never support Democratic Presidents and never want anything to work out when they're in the White House.

No that is when they took control of Congress both House and Senate which is where spending comes from.

But they didn't have the White House, stupid!

And the White House asked for the Congress' help and the Democrats helped them. Helped them along the way. Helped them fund the surge. Helped Bush because we wanted success overseas.

Pretty noble of the liberals to support a Republican President even if they weren't sure he was doing that great of a job, but the people in 2004 voted for him and they supported their President.

It's something Republicans don't know how to do. They're unpatriotic that way.

 

[ScienceRocks]

The real debate should be about what is causing the debt? What isn't causing the debt is.
-Infrastructure. After a spike in 2008-2009 we're at the lowest levels since the early 1990's.
-Science and science institutions...Same. Are you really going to blame nasa, nws and cdc that does good for our country for the tiny amount they receive.
-Education...Can you point out how this has increased since 2009?
-Research and development. Can you point out where this has been increased?

Two area's make up most of the debt...Welfare and the constant wars. The reason you anti-government fuckers keep slamming on this issue is because you want to kill programs that work well and don't cause debt.

 

[ScienceRocks]

To pay off the National Debt, we'd have to cut government spending to zero fro about 4 years. Proposals of saving a billion here and a hundred million there isn't gonna touch the debt and is simply politics, not actual methodology to pay it off.

If we cut spending by 25%, say a trillion in any given year, and used that to pay down the debt it'd still take about 20 years. But we'd be crippled in that time. In which case the debt would not be our biggest problem any more.

The debt is so large that there's no real way to ever pay it off that doesn't result in taking our own knees out economically. All the debate about the debt is over political maneuvering, not actual solutions to do anything about it. Plus to actually try and do anything about it, the house of cards of very money system is built upon would come crashing down. It wouldn't be a depression, it'd be an apocalypse. And that's not hypoerbole, that's factual reality. The country'd end. Fast and loudly.

The point is not to wipe out the debt but to reduce it as a percentage of GDP so we are not paying huge amounts of interest on it. In order to do this, spending must be kept within reason, and that can include a small yearly deficit, so long as growth in GDP outpaces the deficit.

Reduce military to 2003 levels
Reduce welfare to 2008 levels
= reducing the debt

Don't attack things that have been cut little by little for the past 30 years.

 

[The Rabbi]

Democrats didn't have control of the White House in 2006, retard.

Besides, unlike Republicans, Democrats were supporting their President and wanted the wars to work out.

Republicans never support Democratic Presidents and never want anything to work out when they're in the White House.

No that is when they took control of Congress both House and Senate which is where spending comes from.

But they didn't have the White House, stupid!

And the White House asked for the Congress' help and the Democrats helped them. Helped them along the way. Helped them fund the surge. Helped Bush because we wanted success overseas.

Pretty noble of the liberals to support a Republican President even if they weren't sure he was doing that great of a job, but the people in 2004 voted for him and they supported their President.

It's something Republicans don't know how to do. They're unpatriotic that way.

Bullshit. They continued to appropriate money for both wars, all the time passing resolutions to condemn them. Gutless cowards. But they voted for the spending.

 

[The Rabbi]

Not this stupid topic again. The yearly deficit has fallen each year President Obama has been in office. The only real bit of spending you can blame him for is his stimulus.

]

No, idiot. Spending has risen every year Obama has been office. There have been no, zero, cuts to spending. The difference is the economy couldn't stay in recession forever so as it recovered revenue recovered as well. It is in record territory. And yet deficits are higher than during Bush's time, except his last year.