Azazello1313 Posted March 20, 2009 Share Posted March 20, 2009 WASHINGTON (AP) - President Barack Obama's budget would generate deficits averaging almost $1 trillion a year over the next decade, according to the latest congressional estimates, significantly worse than predicted by the White House just last month. The Congressional Budget Office figures, obtained by The Associated Press Friday, predict Obama's budget will produce $9.3 trillion worth of red ink over 2010-2019. That's $2.3 trillion worse than the White House predicted in its budget. Worst of all, CBO says the deficit under Obama's policies would never go below 4 percent of the size of the economy, figures that economists agree are unsustainable. By the end of the decade, the deficit would exceed 5 percent of gross domestic product, a dangerously high level. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted March 20, 2009 Share Posted March 20, 2009 Read my sig-line. Quote Link to comment Share on other sites More sharing options...
bushwacked Posted March 20, 2009 Share Posted March 20, 2009 The worsening economy is responsible for the even deeper fiscal mess inherited by Obama. Yup if economy outperforms CBO's expectations, the deficits could prove significantly smaller Good thing the ones that were responsible for the current state of our economy and turning a 5.6 trillion dollar surplus into a deficit are no longer in power. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted March 20, 2009 Share Posted March 20, 2009 The truth is, no one can predict 10 years out, especially with the mess we're in. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted March 20, 2009 Share Posted March 20, 2009 Yup Good thing the ones that were responsible for the current state of our economy and turning a 5.6 trillion dollar surplus into a deficit are no longer in power. Frank is still letting Fanny and Freddie pay out bonuses isn't he? Is Obama still receiving contributions from them? Seriously you can put some of the blame on Bush, but if you fail to look at the Dems in congress and that includes Obama, then you are not looking very hard. How long are we going to go along with this "Well I inherited a mess, so I need to spend more money, and expand government" line. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted March 20, 2009 Author Share Posted March 20, 2009 Good thing the ones that were responsible for the current state of our economy and turning a 5.6 trillion dollar surplus into a deficit are no longer in power. only to be replaced with the one who will turn a $400 billion deficit into $10 trillion over 10 years. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted March 20, 2009 Share Posted March 20, 2009 only to be replaced with the one who will turn a $400 billion deficit into $10 trillion over 10 years. Uh, no. Only if you play by the "off the books" approach old Georgie was using for things like the Iraq war. Quote Link to comment Share on other sites More sharing options...
bushwacked Posted March 20, 2009 Share Posted March 20, 2009 only to be replaced with the one who will turn a $400 billion deficit into $10 trillion over 10 years. Depending on the performance of the economy, in which the article you linked accurately claims was a mess he inherited by the people you help put in power. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted March 20, 2009 Share Posted March 20, 2009 special olympics Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted March 20, 2009 Share Posted March 20, 2009 special olympics Is this code for "Romney will fix it"? Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted March 20, 2009 Share Posted March 20, 2009 Is this code for "Romney will fix it"? No, but he will probably have to, I just hope too much permanent damage isn't done before then. Quote Link to comment Share on other sites More sharing options...
TimC Posted March 20, 2009 Share Posted March 20, 2009 Remember, our Federal Government is not too big to fail. Learn Chinese today if you don't want to be enslaved. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted March 20, 2009 Share Posted March 20, 2009 (edited) Is this code for "Romney will fix it"? fix what? we will no longer be the democracy known as the USA by the time romney has a chance. our dollar is worthless. the fed printing cash. just wait til they drop the dollar as the world currency. poof. Edited March 20, 2009 by dmarc117 Quote Link to comment Share on other sites More sharing options...
Pope Flick Posted March 20, 2009 Share Posted March 20, 2009 (edited) How long are we going to go along with this "Well I inherited a mess, so I need to spend more money, and expand government" line. Given how you and others wanted a pass on 9-11 for Bush after 9 months in office and ignoring the "Bin Laden Determined to Attack US" memo, I'd respectfully submit at least that long. Edited March 20, 2009 by Pope Flick Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted March 20, 2009 Author Share Posted March 20, 2009 Uh, no. Only if you play by the "off the books" approach old Georgie was using for things like the Iraq war. yeah, right.....must be an accounting trick. has nothing to do with the massive new government spending being proposed. but yeah, definitely the responsible thing to do here is to find new creative ways to point fingers backward, rather than have a serious debate about whether it's a good idea to throw trillions more into the debt so that we can start growing baseline government spending at a rate of 8-10% per year. you guys are really keeping your eye on the ball, here. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted March 20, 2009 Share Posted March 20, 2009 yeah, right.....must be an accounting trick. has nothing to do with the massive new government spending being proposed. but yeah, definitely the responsible thing to do here is to find new creative ways to point fingers backward, rather than have a serious debate about whether it's a good idea to throw trillions more into the debt so that we can start growing baseline government spending at a rate of 8-10% per year. you guys are really keeping your eye on the ball, here. I was referring to the $400 billion number as a starting point thrown out there, which doesn't appear to be a true reflection of reality. But yes, I will concede that we need to focus on the future. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted March 20, 2009 Share Posted March 20, 2009 (edited) OMB response. Edited March 20, 2009 by CaP'N GRuNGe Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted March 20, 2009 Author Share Posted March 20, 2009 OMB response. speaking of bush accounting tricks, this is one of them. the ol' "the CBO is too pessimistic -- my numbers are the real numbers" ploy. Quote Link to comment Share on other sites More sharing options...
tonorator Posted March 20, 2009 Share Posted March 20, 2009 Given how you and others wanted a pass on 9-11 for Bush after 9 months in office and ignoring the "Bin Laden Determined to Attack US" memo, I'd respectfully submit at least that long. so there's a chance after 9 months that he really won't spend all this money? Quote Link to comment Share on other sites More sharing options...
Pope Flick Posted March 20, 2009 Share Posted March 20, 2009 so there's a chance after 9 months that he really won't spend all this money? That wasn't the question I was answering. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted March 20, 2009 Author Share Posted March 20, 2009 to put it in a slightly different perspective....take what the publicly held debt is right now, after 8 years of bush, reagan and everyone else put together. according to the CBO, obama's budget will double the publicly held debt in 5 years, and triple it in 10 years. open question to anyone who voted for him: is this what you thought you were getting? Quote Link to comment Share on other sites More sharing options...
tonorator Posted March 20, 2009 Share Posted March 20, 2009 to put it in a slightly different perspective....take what the publicly held debt is right now, after 8 years of bush, reagan and everyone else put together. according to the CBO, obama's budget will double the publicly held debt in 5 years, and triple it in 10 years. open question to anyone who voted for him: is this what you thought you were getting? but az, you don't understand. we have to act now. if we don't push our deficit and national debt to the brink of what is humanly possible, we may remain in this recession for a longer time ... Quote Link to comment Share on other sites More sharing options...
bushwacked Posted March 20, 2009 Share Posted March 20, 2009 but az, you don't understand. we have to act now. if we don't push our deficit and national debt to the brink of what is humanly possible, we may remain in this recession for a longer time ... We all know your feelings towards expert input and scientific based decision making, but the consensus economic opinion was that a stimulus package was necessary to avert economic disaster and more money should have been allotted for it. open question to anyone who voted for him: is this what you thought you were getting? The question is irreverent. We are only now figuring out how bad the people you, Perch, drveby, moneymakers, and dmarc put in power f'd things up. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted March 20, 2009 Share Posted March 20, 2009 The question is irreverent. We are only now figuring out how bad the people you, Perch, drveby, moneymakers, and dmarc put in power f'd things up. I didn't vote for Obama, Frank, Dodd, or anyone else that was getting hugh contributions to look the other way from Fannie and Freddie. Quote Link to comment Share on other sites More sharing options...
tonorator Posted March 20, 2009 Share Posted March 20, 2009 We all know your feelings towards expert input and scientific based decision making inaccurate but you don't care but the consensus economic opinion was that a stimulus package was necessary to avert economic disaster and more money should have been allotted for it. the "consensus economic opinion" for a stimulus and a stimulus that actually works are two very different things. some $$$ were allocated to save some key financial institutions yes, but i hardly see how obama's spending is going towards stronger businesses and sustainable job creation. but that's not even what is being talked here. what is being talked here is his current budget for increased spending on health care, climate change and everything else under the sun. obama will increase the national debt by more in two years than bush did his entire time in office. this is flat out of control. how much of this can you possibly continue to blame on bush? Quote Link to comment Share on other sites More sharing options...
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