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Oppies..
Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.
It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.
Read More CBO estimates lower deficits as health subsidies fall
The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.
And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.
Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:
"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.
Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!
There goes that "big spending" argument..
Oppies..
Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.
It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.
Read More CBO estimates lower deficits as health subsidies fall
The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.
And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.
Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:
"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.
Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!
There goes that "big spending" argument..
The Right attacked Obama for all of his spending even when Obama created no new spending. The spending Bush signed was making Obama look like a big spender.
Yet, Obama did nothing to change this spending. Big flaw. He didn't create it, but didn't stop it.
I'm educated enough to understand that Obama has the "Least spending growth of any president since the 50's" But he still had the power to stop the unnecessary spending.
But this entire debate confuses politicians with the people who really run the Government, Corporations.
I don't recall the numbers (so don't go apeshit on me) but when Bush left office, the National Debt was (something like) 10-11 Trillion dollars. It is now nearly 18 Trillion.
Call me when we see it go down even one penny.
Either the national debt goes down (whether either side likes it or not) and the unfunded mandates are cut back from the IMPOSSIBLE 271 TRILLION dollars, or we will experience the greatest depression the WORLD has ever seen, let alone America.
This horseshit is absolutely unsustainable. If an idiot like ME can put two and two together, why the HELL can't the morons that we send to DC not figure this simple logic out? Apparently they are all using common core.
At the end of FY2009 (Bush's last budget) the debt was nearly $12 trillion, but you're right, it's too high. I wish Obama had been President enough these last six years to bring it back to normal. Still, it's worth noting what he HAS done, because it's more motivation for politicians to cut the budget if they see voters rewarding those already doing it
Here's where you and I part company. That idiot Obama could not pour piss out of a boot if the directions were printed on the heel. Obama operates on the "theory" of big government - probably why, since the day he "took over" the government has been the only enterprise that has grown - to monstrous size.
Obama is a substitute teacher posing as a president. His reign will soon be over. Perhaps then we might get a president who understands WHY our standing in the world has become a laughing stock. It's extremely hard to flourish under the notion that we are a "world power" when this poseur has done everything in his power to diminish our nation.
Oppies..
Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.
It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.
Read More CBO estimates lower deficits as health subsidies fall
The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.
And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.
Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:
"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.
Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!
There goes that "big spending" argument..
The Right attacked Obama for all of his spending even when Obama created no new spending. The spending Bush signed was making Obama look like a big spender.
Yet, Obama did nothing to change this spending. Big flaw. He didn't create it, but didn't stop it.
I'm educated enough to understand that Obama has the "Least spending growth of any president since the 50's" But he still had the power to stop the unnecessary spending.
But this entire debate confuses politicians with the people who really run the Government, Corporations.
Why is no one cheering the falling deficit?
Why is no one cheering the falling deficit?
It's one thing for the Obama/nutter far left in my party to play "fake it till you make it" with "the hard numbers" on support for things like gay marriage. It's quite another thing to play make-believe hoping you'll "make it" after you print money over its value for years.
It's just like the "numbers showing Obamacare signups were a success". They weren't. Tens of millions are still uninsured and cannot afford even the weird program he set up. Meanwhile Canada pulls ahead in the solvency race and has free healthcare, lower taxes and a higher standard of living for its citizens. They're also very keen to keep people employed within their borders. Apparently someone up there has heard of the middle class and has studied how a strong one makes the upper classes more rich and the lower ones less distraught. We could use that buffer right about now.
Wait...these are predictions of future deficits, aren't they?
Oppies..
There goes that "big spending" argument..Has anyone noticed that the U.S. budget deficit has plunged by nearly $1 trillion since its peak in 2009? Probably not.
It has become a politically inconvenient truth that budget deficits will only grow and never decline, and yet, an astounding $1 trillion dollars has been hacked from the annual shortfall.
Read More CBO estimates lower deficits as health subsidies fall
The winding down of two decade-long wars, fiscal restraint, stronger than forecast economic growth, hence higher tax receipts, and higher tax rates, have all contributed to a very significant decline in government red ink.
And it certainly has defied conventional wisdom in Washington that wrongly suggested that such a turnabout was even remotely possible.
Recall the prevailing wisdom on budget deficits just five short years ago. This report from the Washington Post, July 24th, 2010, suggests that trillion-dollar deficits would become the norm after "The Great Recession," not the exception:
"The latest forecast from the White House budget office shows the deficit rising to $1.47 trillion this year, forcing the government to borrow 41 cents of every dollar it spends. Contrary to official projections, the budget gap will not begin to narrow much in 2011, because of an unexpectedly big drop in tax receipts The White House predicted Friday it will not dip below 8 percent until the end of 2012."
The Congressional Budget Office is cutting its estimates of the U.S. deficit to $492 billion due to lower-than-expected Obamacare premiums, reports CNBC's Eamon Javers.
Oops! The deficit peaked in 2009 and has been on a rapid downward trajectory ever since.
Why is no one cheering the falling deficit??economy?Commentary!
The Right attacked Obama for all of his spending even when Obama created no new spending. The spending Bush signed was making Obama look like a big spender.
Yet, Obama did nothing to change this spending. Big flaw. He didn't create it, but didn't stop it.
I'm educated enough to understand that Obama has the "Least spending growth of any president since the 50's" But he still had the power to stop the unnecessary spending.
But this entire debate confuses politicians with the people who really run the Government, Corporations.
In order for cooler heads to prevail that idiot would need to have a brain.Oppies..
There goes that "big spending" argument..
The Right attacked Obama for all of his spending even when Obama created no new spending. The spending Bush signed was making Obama look like a big spender.
Yet, Obama did nothing to change this spending. Big flaw. He didn't create it, but didn't stop it.
I'm educated enough to understand that Obama has the "Least spending growth of any president since the 50's" But he still had the power to stop the unnecessary spending.
But this entire debate confuses politicians with the people who really run the Government, Corporations.
Oh boy
I'll let cooler heads prevail here. I'll just leave you with this....
At the end of FY2009 (Bush's last budget) the debt was nearly $12 trillion, but you're right, it's too high. I wish Obama had been President enough these last six years to bring it back to normal. Still, it's worth noting what he HAS done, because it's more motivation for politicians to cut the budget if they see voters rewarding those already doing it
Here's where you and I part company. That idiot Obama could not pour piss out of a boot if the directions were printed on the heel. Obama operates on the "theory" of big government - probably why, since the day he "took over" the government has been the only enterprise that has grown - to monstrous size.
Obama is a substitute teacher posing as a president. His reign will soon be over. Perhaps then we might get a president who understands WHY our standing in the world has become a laughing stock. It's extremely hard to flourish under the notion that we are a "world power" when this poseur has done everything in his power to diminish our nation.
Completely untrue.
Government has not grown.
It's shrunk under Obama.
Oppies..
There goes that "big spending" argument..
The Right attacked Obama for all of his spending even when Obama created no new spending. The spending Bush signed was making Obama look like a big spender.
Yet, Obama did nothing to change this spending. Big flaw. He didn't create it, but didn't stop it.
I'm educated enough to understand that Obama has the "Least spending growth of any president since the 50's" But he still had the power to stop the unnecessary spending.
But this entire debate confuses politicians with the people who really run the Government, Corporations.
What exactly could he do to stop it?
Once budgets pass in congress and a President signs it..it's a done deal.
I don't think most voters understand fiscal policy.
During recessions, both sides of the political aisle have advocated higher government spending to compensate for the private sector's inability to invest or hire. Then, once the economy began growing, the government would slowly withdraw support, and the higher revenues would be used to pay down the recessionary spending. This is why none of our postwar recessions lasted very long.
Then came Reagan. He believed that the government should impose a regime of austerity during recessions. Granted, he didn't practice what he preached, but he laid the foundation for the Tea Party movement which has imposed austerity on Obama. Whereas Reagan added over 100K government jobs during his '81 recession, Obama has been forced to cut government jobs. This has put a cap on growth. What Republicans don't understand is that government workers flock into "Main Street" stores and buy things. This allows small businesses to retain employees. This is why Reagan grew government jobs more than any president in my lifetime. He understood the need to put workers-qua-consumers into the economy during economic downturns.
The Reagan growth years were accompanied by massive deficits and a massive expansion of the federal workforce - just like the unprecedented growth years of the 50s and 60s. Obama is the first time since Hoover when we've seen massive deficit reduction during a recession.
Bush's last budget was FY2008.I take your point, but if you had to negotiate with 100 other people over what costs on your VISA were going to be cut, and no one wanted their stuff cut, you have to see it would be a bigger task. And as I've noted before, no elected official gets a cookie for cutting items from the budget. All their support comes from adding things to it.
Bush added about $1.5 trillion to the deficit, and so far Obama has cut $1 trillion. In light of that, and of the spiraling economy he started with, yes, I think that's something of an achievement.
I don't recall the numbers (so don't go apeshit on me) but when Bush left office, the National Debt was (something like) 10-11 Trillion dollars. It is now nearly 18 Trillion.
Call me when we see it go down even one penny.
Either the national debt goes down (whether either side likes it or not) and the unfunded mandates are cut back from the IMPOSSIBLE 271 TRILLION dollars, or we will experience the greatest depression the WORLD has ever seen, let alone America.
This horseshit is absolutely unsustainable. If an idiot like ME can put two and two together, why the HELL can't the morons that we send to DC not figure this simple logic out? Apparently they are all using common core.
At the end of FY2009 (Bush's last budget)....
In term,s of....?Completely untrue.
Government has not grown.
It's shrunk under Obama.
Tell us of the new IRS Agents HIRED to enforce ObamaCare, shall you?At the end of FY2009 (Bush's last budget) the debt was nearly $12 trillion, but you're right, it's too high. I wish Obama had been President enough these last six years to bring it back to normal. Still, it's worth noting what he HAS done, because it's more motivation for politicians to cut the budget if they see voters rewarding those already doing it
Here's where you and I part company. That idiot Obama could not pour piss out of a boot if the directions were printed on the heel. Obama operates on the "theory" of big government - probably why, since the day he "took over" the government has been the only enterprise that has grown - to monstrous size.
Obama is a substitute teacher posing as a president. His reign will soon be over. Perhaps then we might get a president who understands WHY our standing in the world has become a laughing stock. It's extremely hard to flourish under the notion that we are a "world power" when this poseur has done everything in his power to diminish our nation.
Completely untrue.
Government has not grown.
It's shrunk under Obama.
