Deficit dropped since Obama's budget took effect

eeyore1954 said:
According to his belief it will not raise the deficit because spending needs to be cut and lowering taxes will increase revenue by "growing the private sector".
Click to expand...

That may qualify as cognitive dissonance as they typically can’t point to any budget items they would like to see cut. In fact when you look at the programs they want expanded they usually support more spending not less.
 
casebro said:
The headlines of this kind of bs statistics is usually missing the phrase "than expected". Or maybe should be worded "the rate of growth of the deficit is 8% less than expected".
Click to expand...

The last Bush budget ended with a final deficit of $1.6 trillion. The first Obama budget was estimated at ~$1 trillion, a reduction of much more then 8%. Most likely they mean to say that the Obama budget deficit is coming in 8% below that estimate.
 
"Still waiting for that link, Kenny. "

Giggywig said:
Digging around through the Monthly Treasury Statement (linky) shows that (all figures in millions) FY2009 the deficit was 1,415,724 , and 1,370,000 through August. So far the deficit for FY2010 is 1,259,597, which is about 8% less. So the deficit is down from the craptacular year that was last year.
Click to expand...

weeoooweeooo
 
thaiboxerken said:
By 8%. How does that fact sit with you tea baggers?
Click to expand...

So it's down 8% from... a budget passed by a Democratic congress, and signed into law by Obama, which created mind-boggling deficits where we were borrowing something like 40 cents of every dollar we spent.

How does that 8% reduction sit with me? It sits as not nearly enough.
 
Ziggurat said:
So it's down 8% from... a budget passed by a Democratic congress, and signed into law by Obama, which created mind-boggling deficits where we were borrowing something like 40 cents of every dollar we spent.
Click to expand...

Nope the 2009 budget process begins in early 2008 and was signed into law before the new president takes office. Obama’s first budget is the 2010 and had a much smaller defict then the Bush budget that preceeded it.


It’s true it was a democratic congress but that’s pretty much irrelevant since most of the spending comes from the presidents budget proposal. Congress may throw in an additional earmark here and there but it’s peanuts compared to what’s in the Presidents proposal, and earmarks come from both sides.
 
lomiller said:
Nope the 2009 budget process begins in early 2008 and was signed into law before the new president takes office. Obama’s first budget is the 2010 and had a much smaller defict then the Bush budget that preceeded it.


It’s true it was a democratic congress but that’s pretty much irrelevant since most of the spending comes from the presidents budget proposal. Congress may throw in an additional earmark here and there but it’s peanuts compared to what’s in the Presidents proposal, and earmarks come from both sides.
Click to expand...

Did the bailouts count towards the budget deficit, or were they peanuts?
 
Giggywig said:
Did the bailouts count towards the budget deficit, or were they peanuts?
Click to expand...

TARP was a was a Bush proposal, the auto industry loans were small change in comparison. IIRC, however, TARP did not show up as part of the deficit
 
Ziggurat said:
So it's down 8% from... a budget passed by a Democratic congress, and signed into law by Obama, which created mind-boggling deficits where we were borrowing something like 40 cents of every dollar we spent.

How does that 8% reduction sit with me? It sits as not nearly enough.
Click to expand...

Because it's a Democrat 8 and not a gop 8?
 
lomiller said:
Nope the 2009 budget process begins in early 2008 and was signed into law before the new president takes office.
Click to expand...

I don't think that's true.
http://www.gpo.gov/fdsys/pkg/PLAW-111publ8/content-detail.html
The 2009 Omnibus Appropriations Act (H.R. 1105) passed the house on Feb 25, the Senate on March 10, and was signed into law on March 11, 2009. All of which happened after Obama and the new Congress took office. Do you have a different bill you think is more relevant?

It’s true it was a democratic congress but that’s pretty much irrelevant since most of the spending comes from the presidents budget proposal.
Click to expand...

And Congress has the power to cut that spending as much as it desires, and the duty to do so if the spending is too high.
 
lomiller said:
The last Bush budget ended with a final deficit of $1.6 trillion. The first Obama budget was estimated at ~$1 trillion, a reduction of much more then 8%. Most likely they mean to say that the Obama budget deficit is coming in 8% below that estimate.
Click to expand...

To imply that Obama has reduced the deficit is an unmitigated dishonesty.

The CBO issued a report in March of 2009 http://74.125.155.132/search?q=cach...rent+law+assumptions&cd=1&hl=en&ct=clnk&gl=us that states on page 11 that:

The cumulative deficit from 2010 to 2019 under the President's proposals would total $9.3 trillion, compared with a cumulative deficit of $4.4 trillion projected under the current-law assumptions embodied in CBO's baseline.
Click to expand...

In short, the CBO was stating that Obama's legislation would increase the cumulative deficit (national debt) by nearly $5 trillion dollars over what it would have been under Bush's laws and spending programs.

And since that time the projected national debt in the 2010 to 2019 period has only gone up as Obama as added more and more spending.

Furthermore, to compare Bush to Obama based solely on what happened during Bush's last budget cycle (most of which Obama presided over) is dishonest on another level. Here:

http://www.humanevents.com/article.php?id=30851

02/25/2009

… snip ...

In the first seven fiscal years overseen by the high-spending President Bush, the annual federal budget deficits were truly obscene. Yet, they never exceeded $500 billion.

In fiscal 2002 through 2008, according to the historical tables published by the Office of Management and Budget last fall, the annual deficits were $157.7 billion, $377.5 billion, $412.7 billion, $318.3 billion, $248.1 billion, $162 billion and $410 billion. (The Congressional Budget Office has since calculated that the fiscal 2008 deficit actually ended up being $454.8 billion.)

President Obama said Monday that his "administration has inherited a $1.3 trillion deficit" for fiscal 2009.


… snip …

The administration says President Obama's promise to "cut the deficit we inherited in half" means he will reduce it from $1.3 trillion in fiscal 2009 to $533 billion in fiscal 2013.

This $533 billion deficit -- that President Obama vows will be the lowest annual deficit he runs in any of the next four years -- is larger than any deficit the profligate President Bush ran before this recessionary year.

In fact, President Obama's planned $533 billion deficit for fiscal 2013 is more than twice as large as the $248.1 billion deficit Bush ran in 2006 and more than three times as large as the $162 billion deficit Bush ran in 2007.
Click to expand...


lomiller, I suggest you take your song and dance to a forum that doesn't have any skeptics … where there are only gullible people … like the DNC website. :D
 
Last edited:
Oh, and don't forget the fact that Obama & pals cashed out all that stimulus money last year. That was purely Obama, and I wonder how much of the difference it makes up.
 
Well, being a deficit hawk myself, I'm going to vote for the party that has shown iteslf to be responsible by paying for all of its programs and not passing that debt down to our children.

D'oh.
 
You must log in or register to reply here.

Back
Top Bottom