Did the Deficit double under Obama?

[republicanchick]

i guess you think the mormon romney would have done better ?

than Pres O?

why, I think Justin Beiber could have done better

OK... Clint Eastwood...

is that better?

we had another actor president... so maybe this is not saying much

 

[zoo22]

I read somewhere that the Deficit has gone from something like 8 or 9 trillion under Bush43 to 18 trillion, which obviously is double or almost double.

OK, so I will get a citation:

http://www.forbes.com/sites/rickung...deral-budget-deficits-are-actually-shrinking/

I haven't read this whole article (don't have time right now) but I trust the source

In any case, I am sure in that somewhere in that article it will say EXACTLY how much the Debt has increased under... "the savior"

Have you read the article yet? The article you used as a "citation" without reading and said you trusted?

The Best Kept Secret In American Politics-Federal Budget Deficits Are Actually Shrinking!

Here it is if you're too busy to click the link.

Spoiler

Bloomberg News is out with a new poll that reveals an amazing piece of data.

Here is the question that was asked in the survey-

"Let’s turn to the federal budget deficit. This is the amount the government spends that is more than the amount it takes in from taxes and other revenue. Is it your sense that this year the deficit is getting bigger or getting smaller, or is it staying about the same as last year?"

The results?

(a) Sixty-two percent of Americans believe the deficit is getting bigger this year,
(b) Twenty-eight percent believe the deficit will remain about the same; and
(c) Six percent believe the deficit will shrink

What is the right answer?

If you guessed (c) in the belief that the deficit has shrunk this year, you are one of the six percent who got the answer correct.

The facts?

Over the first four years of the Obama presidency, the deficit shrunk by a total of $300 billion dollars. That is not the national debt- it is the amount of money we spend each year relative to the amount we take in. And while this improving deficit picture is not what those who believe in a balanced budget would be looking for, it is a shrinking deficit just the same.

Find this difficult to believe?

According to the latest CBO report,

"Compared to the size of the economy, the deficit in 2013 is much lower than in 2009, when Obama took office. The deficit will be 5.3 percent of gross domestic product this year, nearly half the 10.1 percent of GDP in 2009."

The improvement in the deficit as measured against GDP is the direct result of the deficit falling to $845 billion for fiscal year 2013—a $300 billion improvement over the previous year. And the positive trend is projected to continue though the next fiscal year where the the annual budgetary deficit will fall again to $430 billion.

While these deficit numbers are, without question, a legitimate improvement, they are deficits none the less— which means the nation’s debt continues to grow. What’s more, the CBO projects that the good news will—if we remain on our current trajectory—turn negative in fiscal year 2015 and begin climbing once again unless we do something to cut spending, increase revenues or find some combination of the two.

What is important in the poll is the revelation that so many Americans are completely in the dark when it comes to the real numbers.

While there is much to discuss in the debate over deficits and the ongoing debt, that discussion can only take place in an intelligent and meaningful way if Americans actually understand the numbers and engage in the debate based on actual facts rather than emotional conjecture.

This struck me as pertinent:

"While there is much to discuss in the debate over deficits and the ongoing debt, that discussion can only take place in an intelligent and meaningful way if Americans actually understand the numbers and engage in the debate based on actual facts rather than emotional conjecture."

What do you think?

 

[Stripe]

When you borrow a million dollars you will have a lot of money to spend. Your debt to economy ratio might be better, but you're delusional if you think the overall situation is an improvement.

 

[patrick jane]

than Pres O?

why, I think Justin Beiber could have done better

OK... Clint Eastwood...

is that better?

we had another actor president... so maybe this is not saying much

i'm sure the deficit would have cut in half under reublicans. you act like busch wasn't there for 8 years prior. it's ok though, new wars and more fear in america will be created to justify more debt and more "protection" in america, IF A REPUBLICAN IS PRESIDENT. except Rand Paul maybe

 

[THall]

That's what I get for multitasking.

So who was multi tasking when
I got cited for pointing out that only a
retard would claim America is a democracy, when in
fact it is actually a republic?

 

[Bright Raven]

Would not surprise me in the least.

 

[Stripe]

So who was multi tasking when
I got cited for pointing out that only a
retard would claim America is a democracy, when in
fact it is actually a republic?

:mock: thall

 

[THall]

:mock: thall

:mock:Stripe

 

[patrick jane]

:mock:Stripe

what part of the Lou you at - atrol:

 

[Stripe]

:mock:Stripe

That's the spirit. :thumb:

 

[jgarden]

Remember, when President George Bush’s National Economic Council Director, Lawrence Lindsey, had told the country’s largest newspaper “The Wall Street Journal” that the war would cost between $100 billion and $200 billion, he had found himself under intense fire from his colleagues in the administration who claimed that this was a gross overestimation.

Consequently, Lawrence Lindsey was forced to resign. It is also imperative to recall that the Bush administration had claimed at the very outset that the Iraq war would finance itself out of Iraqi oil revenues, but Washington DC had instead ended up borrowing some $2 trillion to finance the two wars, the bulk of it from foreign lenders.

According to the Harvard University’s Kennedy School of Government 2013 report, this accounted for roughly 20 per cent of the total amount added to the US national debt between 2001 and 2012.

http://www.globalresearch.ca/us-wars-in-afghanistan-iraq-to-cost-6-trillion/5350789

George Bush’s National Economic Council Director Lawrence Lindsey was forced to resign for trying to warn us by telling the truth and the Iraq/Afghanistan Wars account for 20% of the national debt.

 

[Mocking You]

I read somewhere that the Deficit has gone from something like 8 or 9 trillion under Bush43 to 18 trillion, which obviously is double or almost double.

That would be the national debt, not the deficit.

OK, so I will get a citation:

http://www.forbes.com/sites/rickung...deral-budget-deficits-are-actually-shrinking/

I haven't read this whole article (don't have time right now) but I trust the source

In any case, I am sure in that somewhere in that article it will say EXACTLY how much the Debt has increased under... "the savior"

Well, it doesn't discuss the debt, it talks about the deficit. But yes, the budget deficit has more than doubled under Obama. Now it is decreasing. It's basically back where it was under George W's last term, around $500B. This means the government will spend $500B more than they take in.

 

[republicanchick]

This means the government will spend $500B more than they take in.

gee, could that work for ME too?

wouldn't it be cool to just be able to spend, spend, spend, and never have to actually PAY for anything?

How come we ordinary folks can't do that?

hmmm.... wahhh... It's not fair... the government gets to have all the fun...




_____

 

[OCTOBER23]

OBAMA WANTS TO MAKE THE USA A TOTALLY MOSLEM COUNTRY

BY TRIPLING THE DEBT LOAD IT WANTS TO BRING THE USA TO ITS KNEES.

 

[CabinetMaker]

I read somewhere that the Deficit has gone from something like 8 or 9 trillion under Bush43 to 18 trillion, which obviously is double or almost double.

OK, so I will get a citation:

http://www.forbes.com/sites/rickung...deral-budget-deficits-are-actually-shrinking/

I haven't read this whole article (don't have time right now) but I trust the source

In any case, I am sure in that somewhere in that article it will say EXACTLY how much the Debt has increased under... "the savior"



:yoshi:

Are you asking about the debt or the deficit? These are two VERY different things.

 

[Mocking You]

gee, could that work for ME too?

wouldn't it be cool to just be able to spend, spend, spend, and never have to actually PAY for anything?

How come we ordinary folks can't do that?

Because ordinary folks have a limited lifespan, perhaps 70-80 years. If the United States continues to exist it can continue to take on debt.