Gotta love it when everything is properly compiled and passed on for those with short memories!

The  Washington Post babbled again today about Obama inheriting a huge deficit from Bush. Amazingly enough, a lot of people swallow this nonsense. So once more, a short civics lesson:


Budgets do not come from the White House. They come from Congress and the party that controlled Congress since January 2007 is the Democratic Party.

Furthermore, the Democrats controlled the budget process for FY 2008 and FY 2009 as well as FY 2010 and FY 2011.


In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.


For FY 2009 though, Nancy Pelosi and Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the FY 2009 budgets.




And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete FY 2009. Let's remember what the deficits looked like during that period: 




If the Democrats inherited any deficit, it was the FY 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets.


  If Obama inherited anything, he inherited it from himself.


In a nutshell,  what Obama is saying is I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th.

Stay Focused, Connected, Informed & Inspired... 

Bush's deficits, and has more that one can count, his budget deficits did not include the costs of two, count 'em, two wars, both paid for on the credit card, and don't forget the Clinton budget surplus

Sorry but those are most definitely the GOP & Bush deficits... Bush could have veto'd them and the Dems lacked the ability in 2006 to override a veto.  Not to mention most of that deficit appeared long before 2006 while the GOP controlled both the House and the Senate.

always interesting to see the rationalization that the GOP tries to come up with next for it's followers to believe.

and as Don Carlos pointed out, thanks to creative accounting, the true cost of the 2 wars Bush launched (and didn't finish) weren't factored into the deficit, something the GOP fails to make clear when they use the new numbers that we only know thanks to changes in the law that Obama passed when he got into office.

Why were they allowed to leave the wars off the books?  It's mindblowing!  It's like saying you're gonna make your household budget and leave the mortgage and the car payments out!  Boy, if you did that you could sure change your finances!
:D

Why were they allowed to leave the wars off the books?  It's mindblowing!  It's like saying you're gonna make your household budget and leave the mortgage and the car payments out!  Boy, if you did that you could sure change your finances!
:D



It's called "Fuzzy Math."


Cat

It's called "Fuzzy Math."


Cat


Or "special funding programs."
::)

Why were they allowed to leave the wars off the books?


For the same reason that supporters of Social Security are allowed to pretend that (up until this year) it was running a surplus, and that there was actually a trust fund, and that its unfunded liabilities were backed by the "full faith and credit" of the US government.

For the same reason that supporters of Social Security are allowed to pretend that (up until this year) it was running a surplus, and that there was actually a trust fund, and that its unfunded liabilities were backed by the "full faith and credit" of the US government.


No, its not the same.  No, money isn't sitting in a "trust fund" any more than my savings account is a little box filled with bills at the bank.

No, its not the same.  No, money isn't sitting in a "trust fund" any more than my savings account is a little box filled with bills at the bank.


The first $100K ($250K?  Been a while since I checked FDIC regs) of your savings account is backed, not by the full faith and credit of the US government, but by a fund, paid to the feds, by the banks, on their deposits.  It really is insurance.  (Got a brokerage account?  First $500K is protected by SIPC, along the same basic lines.)  Even since the Crash of 2008, for every bank that failed, not a single depositor has lost a cent.  Not because of the FDIC, but because the failing bank was bought out (whether freely or via coercion is a pretty murky issue) a few moments before the point-of-no-return by a bank that was sufficiently capitalized such that no claim had to be made against FDIC funds.  (I'll concede that even if done coercively, what happened was arguably the right thing to do under the circumstances.  It kept the contagion of bank runs in check, and anyone with more than $100K in a failing bank had plenty of time to move the excess to a semi-solvent bank - effectively capitalizing the surviving banks sufficiently to permit them to take over the failed ones.)

Social Security, not so much.  That money's long since been spent - if those bonds are ever to be turned into checks payable to beneficiaries, someone's going to have to pay - either the taxpayer to redeem the bond itself, or the taxpayer paying an ever-spiraling-upward interest on the foreign-owned portion of the national debt as our creditworthiness declines.  Or, it can pay by cutting funds intended for the social security recipient, when/if Congress finally decides that it can no longer afford to cut only "discretionary" spending, but realizes that with the same stroke of a pen, it can simply change the law that determines the benefit formula.  Or, perhaps, by simply noting that SS benefits are indexed to the CPI ex-food-and-fuel, and food-and-fuel are the only components of the CPI that are actually undergoing inflation.  Heh.

Fuzzy math indeed.

Bush's deficits, and has more that one can count, his budget deficits did not include the costs of two, count 'em, two wars, both paid for on the credit card, and don't forget the Clinton budget surplus
The surplus was under a Republican Congress. The Budget was balanced for 4 straight years when Gingrich was the Speaker Of The House(1995-1998.)

The mistake Bush(W.) made was having 2 wars at the same time he cut taxes across the board and didn't pay for none of those 2-3 things.

What liberals or Dems on this board don't ever say is Obama never paid for the stimulus. He just added it to the deficit.

He folded like a cheap tent to the GOP when the tax cuts came up in the lame duck. Why should billlionares get a tax cut when the deficit goes that high? I'm sure you guys on the left would agree with this. Now he's trying to reinstitute the tax cuts in this budget resolution. Its like what are you doing?

What liberals or Dems on this board don't ever say is Obama never paid for the stimulus. He just added it to the deficit.



...and bush never paid for Iraq.  bush spent money he didn't have for a vendetta, Obama spent money that helped American workers weather the worst economic depression in since the great depression. 

...and bush never paid for Iraq.  bush spent money he didn't have for a vendetta, Obama spent money that helped American workers weather the worst economic depression in since the great depression. 
It doesn't matter he still added to the deficit. You guys on the left make like its ok to add to the deficit if its for a good cause. I don't get it. I think common sense  and not an idelogy.

It doesn't matter he still added to the deficit. You guys on the left make like its ok to add to the deficit if its for a good cause. I don't get it. I think common sense  and not an idelogy.





The stimulus wasn't BIG ENOUGH! If it was bigger, the economy would be doing much better than it is now. It would have meant more jobs, and more jobs means that more people are buying stuff and paying taxes, which means businesses can hire more people, which means more jobs...

But, Obama didn't listen to the economists who told him the stimulus needed to be bigger. Instead, he made it just enough to prevent a depression but prolong the recession.

If you (or anybody) study history, you will see that the way the U.S. got out of the Great Depression was by the government spending. It was when FDR listened to the Republicans and cut back on spending that prolonged it. And what finally got the U.S. out of it was WWII. Why? Because during WWII, the country spent $$$$$$. It had to build aircraft, ships, etc. It hired women since the men were going overseas. So, not only was the government paying the men who were in the military, it also was paying the women who were working on the planes. More people were working, which meant they could buy more stuff and pay taxes, which meant that businesses could hire more people, which meant more people were working...


Cat

And what finally got the U.S. out of it was WWII. Why? Because during WWII, the country spent $$$$$$. It had to build aircraft, ships, etc. It hired women since the men were going overseas. So, not only was the government paying the men who were in the military, it also was paying the women who were working on the planes. More people were working, which meant they could buy more stuff and pay taxes, which meant that businesses could hire more people, which meant more people were working...


You're forgetting the important part.  After WW2, every other center of production from London to Berlin to Tokyo to Stalingrad was nothing more than a pile of smoldering rubble.  For the next 20-30 years, there was only one country from which any other nation could buy the things needed to rebuild itself.

If you're down for a rematch, OK, but I'd remind you that with the widespread availability of more modern toys - it probably wouldn't work out that well for the States.  I'm not sure whether I'm sad or grateful, so I'm going to choose to be grateful.

You're forgetting the important part.  After WW2, every other center of production from London to Berlin to Tokyo to Stalingrad was nothing more than a pile of smoldering rubble.  For the next 20-30 years, there was only one country from which any other nation could buy the things needed to rebuild itself.

If you're down for a rematch, OK, but I'd remind you that with the widespread availability of more modern toys - it probably wouldn't work out that well for the States.  I'm not sure whether I'm sad or grateful, so I'm going to choose to be grateful.


Yeah, I'm not interested in duking it out with China, Russia, Israeli, India, Pakistan, France, Britain, and whoever else wants build a dirty nuke out of popsicle sticks and chewing gum!
http://www.inthe00s.com/smile/12/hiding.gif

Yeah, I'm not interested in duking it out with China, Russia, Israeli, India, Pakistan, France, Britain, and whoever else wants build a dirty nuke out of popsicle sticks and chewing gum!
http://www.inthe00s.com/smile/12/hiding.gif


Me neither.  I'm kinda sad that we're not the only kid on the block with toys, but the flip side of that coin is that if they're ever used by anyone, they'll get used one or two at a time, as opposed to thousands at a time.  

Netted out, I end up on the grateful side of the ledger: that there's no need for anyone to hide unless they're unlucky enough to be downwind of one of the places unlucky enough to get hit.  The old 60s propaganda poster finally came true - a nuclear bomb can ruin your whole day.  But when the alternative was the end of human civilization, the prospect of having one's whole day ruined really isn't that bad.

http://talkleft.com/iran-saber-rattle.jpg
I always wanted to have a neighbor just like YOU...
:D

The surplus was under a Republican Congress. The Budget was balanced for 4 straight years when Gingrich was the Speaker Of The House(1995-1998.)

The mistake Bush(W.) made was having 2 wars at the same time he cut taxes across the board and didn't pay for none of those 2-3 things.


That WAS a Bad Call. I believe that Iraq should've ended in 6-9 months from March of 2003 to the capturing of Saddam. Then, we have Freedom Fighters who are willing to help-out in Iraq.

And Bush came in once the Surplus was about to bottom-out. (Don't get me wrong, Bush is STILL a Dumb-Ass). Enron was in trouble in 2001, 9/11 happened which made many people be scared, but when the deficit hit low in 2004...it picked back up until 2008 when The Great Recession came. 2007 and 2008 was more different than 2000-2006 because The Neo-Con Republicans were getting replaced by Democrats.

The president that probably has the biggest deficit ever was FDR, but he did it right...Bush and Obama didn't!

That WAS a Bad Call. I believe that Iraq should've ended in 6-9 months from March of 2003 to the capturing of Saddam. Then, we have Freedom Fighters who are willing to help-out in Iraq.

And Bush came in once the Surplus was about to bottom-out. (Don't get me wrong, Bush is STILL a Dumb-Ass). Enron was in trouble in 2001, 9/11 happened which made many people be scared, but when the deficit hit low in 2004...it picked back up until 2008 when The Great Recession came. 2007 and 2008 was more different than 2000-2006 because The Neo-Con Republicans were getting replaced by Democrats.

The president that probably has the biggest deficit ever was FDR, but he did it right...Bush and Obama didn't!
Yeah I should add Bill Clinton did it right too by raising taxes on the top rate  from 35% to 39% I think and paying off the federal deficit and 4 straight years of balanced budgets that created the surplus. Obama should have the top rate at the same rate that Clinton had it at 39%.

Yeah I should add Bill Clinton did it right too by raising taxes on the top rate  from 35% to 39% I think and paying off the federal deficit and 4 straight years of balanced budgets that created the surplus. Obama should have the top rate at the same rate that Clinton had it at 39%.


Tell that to the Republicans!!!!!!!!!!!!!!!!!

That WAS a Bad Call. I believe that Iraq should've ended in 6-9 months from March of 2003 to the capturing of Saddam. Then, we have Freedom Fighters who are willing to help-out in Iraq.

And Bush came in once the Surplus was about to bottom-out. (Don't get me wrong, Bush is STILL a Dumb-Ass). Enron was in trouble in 2001, 9/11 happened which made many people be scared, but when the deficit hit low in 2004...it picked back up until 2008 when The Great Recession came. 2007 and 2008 was more different than 2000-2006 because The Neo-Con Republicans were getting replaced by Democrats.

The president that probably has the biggest deficit ever was FDR, but he did it right...Bush and Obama didn't!


Jeez Louise....Obama has been in office for under 3 years.  Go back to your history books and find out how long it took FDR to get out of the depression and what it took to get out.

Jeez Louise....Obama has been in office for under 3 years.  Go back to your history books and find out how long it took FDR to get out of the depression and what it took to get out.


Well...for FDR...it was building things such as The Golden Gate Bridge, National Parks, and even houses (Depression Houses look similar to houses in the 50's). And we had people work to make airplanes and tanks during WWII.

Okay...you're right! But if Obama wants to salvage his presidency...he should get jobs to build stuff and find resources in America!

PS-Also during the 30's there were VERY bad Dust Bowls in the Great Plains which made a huge migration to California.

Well...for FDR...it was building things such as The Golden Gate Bridge, National Parks, and even houses (Depression Houses look similar to houses in the 50's). And we had people work to make airplanes and tanks during WWII.

Okay...you're right! But if Obama wants to salvage his presidency...he should get jobs to build stuff and find resources in America!

PS-Also during the 30's there were VERY bad Dust Bowls in the Great Plains which made a huge migration to California.


The Dust Bowls were also a man made creation, it was a plague brought on the people by themselves by disregarding warnings from the educated liberal elite.  The more the situation changes, the more the rhetoric stays the same.

Tell that to the Republicans!!!!!!!!!!!!!!!!!
Yeah your US Senator Bernie Sanders introduced a bill to have a 4.5 percent surtax on people earning over a million a dollars a year. I couldn't agree more with this bill!

Well...for FDR...it was building things such as The Golden Gate Bridge, National Parks, and even houses (Depression Houses look similar to houses in the 50's). And we had people work to make airplanes and tanks during WWII.

Okay...you're right! But if Obama wants to salvage his presidency...he should get jobs to build stuff and find resources in America!

PS-Also during the 30's there were VERY bad Dust Bowls in the Great Plains which made a huge migration to California.


As I sasid above, tell that to the Republicans

Yeah your US Senator Bernie Sanders introduced a bill to have a 4.5 percent surtax on people earning over a million a dollars a year. I couldn't agree more with this bill!


Bernie is one of only a few honest men in the senate

Bernie is one of only a few honest men in the senate


I'd vote for him if I could!
:)

I'd vote for him if I could!
:)



Just move a few miles north & you can.  ;)



Cat