Deficit Nosedives Under Obama

[fletchisrhsm]

When times get tough for a single family they cut back on spending and try to save every penny they can, but when we expand to the macro scale of an entire nation the correct procedure is to run up massive debt to spend your way out of the recession?

Its only bad when a Democrat does it, per the attitude around here with some of the more "enlightened" posters.





I love this laughing rubber dog.

 

[Coaster]

Spend your way out of debt?

Do you want to tell your kids that is what the President is doing?
Teens with their first credit card maxed, and cell phone credits done.
I think NOT!

A little deflation and then hyperinflation ahead.
Fiat time.

 

[quantumleap]

But hey! Obama will be cutting the deficit in half remember? So instead of a $1 trillion deficit for 2009 he will only have a $500 billion deficit for 2010!

 

[SmallDaddy]

What a run it was...25 years of prosperity like the world has never seen.

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:toast:

If a nation is willing to rack up over 10 trillion in debt, its quite easy to achieve that feat.

Then saddle Obama with the check and the blame when the house of cards that Reagan designed comes crashing down

 

[roadreeler57]

a lot of glum faces in this thread

gentlemen, where does America go from here? the path of Japan?

Obama has 3 more years---if America's future is so screwed, what are its citizens going do to about it before the end of his term? a revolution? nothing?

I dont think the Citizens can do anything about it....If the fatards I see in McDonalds are an accurate cross section of the Country then we're screwed.

 

[Mistermj]

If a nation is willing to rack up over 10 trillion in debt, its quite easy to achieve that feat.

Then saddle Obama with the check and the blame when the house of cards that Reagan designed comes crashing down

The waves of bubble crashes started with the Clinton dot com bust.

Let's be honest about who lit this match.

 

[Willie99]

The budget belongs to the Prez not the Speaker of the House. It has been quite some time now

the budget is the responsibility of the House of Representatives, that's part of our constitution. As for sometime, who wrote Obama's stimulus budget? Nancy and the House.

As for the 1997 budget, there is little dispute who wrote that budget, who fought for that budget, who spilled political blood for that budget, what party supported that budget and what party opposed that budget. Actually, there is no debate.

Clinton gets credit for signing Newt's budget, but only after a long and very much public dispute. In December of 1995, Clinton closed down the federal government to protect America from that budget. they never arrived at a budget agreement throughout 1996 as Clinton was hoping the regain the House. When Newt remained in Control, Clinton finally signed the bill after he was given a few insignificant face saving changes. Many Democrats opposed that budget until the very end.

What's funny is how democratic leaders who actually voted against that bill in 1997 try to take credit for the fiscal responsibility and surpluses it generated. Of course their enablers allow them to do so.

 

[Willie99]

House Vote On Passage: H.R. 2015 [105th]: Balanced Budget Act of 1997
Overview

<table><tbody><tr><td>Vote Number:</td><td>House Vote #241 in 1997 [primary source]</td></tr><tr><td>Date:</td><td>Jun 25, 1997 6:09PM</td></tr><tr><td>Result: </td><td>Passed</td></tr><tr><td>Related Bill:</td><td>H.R. 2015 [105th]: Balanced Budget Act of 1997</td></tr></tbody></table><table style="margin: 1em 0em; font-size: 95%;"><tbody><tr><th>
</th><th colspan="3">Totals</th><th style="padding: 3px; font-size: 90%;">Democrats</th><th style="padding: 3px; font-size: 90%;">Republicans</th><th style="padding: 3px; font-size: 90%;">Independents</th><td rowspan="5" style="padding-left: 25px;"><center style="font-size: 80%;">All Votes</center>

</td></tr><tr><td>
</td><td>
</td><td>
</td><td> Needed To Win
</td></tr><tr><td style="text-align: right; padding-right: 1em;"><nobr>Aye:</nobr></td><td>270</td><td>(62%)</td><td style="padding-right: 2em;"><table border="0" cellpadding="0" cellspacing="0"><tbody><tr><td>
</td><td>
</td></tr></tbody></table></td><td style="text-align: center; font-size: 90%;">50</td><td style="text-align: center; font-size: 90%;">218</td><td style="text-align: center; font-size: 90%;">0</td></tr><tr><td style="text-align: right; padding-right: 1em;"><nobr>No:</nobr></td><td>162</td><td>(37%)</td><td style="padding-right: 2em;">
</td><td style="text-align: center; font-size: 90%;">152</td><td style="text-align: center; font-size: 90%;">8</td><td style="text-align: center; font-size: 90%;">1</td></tr><tr><td style="text-align: right; padding-right: 1em;"><nobr>Present:</nobr></td><td>0</td><td>(0%)</td><td style="padding-right: 2em;">
</td><td style="text-align: center; font-size: 90%;">0</td><td style="text-align: center; font-size: 90%;">0</td><td style="text-align: center; font-size: 90%;">0</td></tr><tr><td style="text-align: right; padding-right: 1em;"><nobr>Not Voting:</nobr></td><td>3</td><td>(1%)</td><td style="padding-right: 2em;">
</td><td style="text-align: center; font-size: 90%;">1</td><td style="text-align: center; font-size: 90%;">2</td><td style="text-align: center; font-size: 90%;">0</td></tr><tr><td colspan="1" style="text-align: right; padding-right: 1em;" valign="top">Required: </td><td colspan="3" valign="top">Simple Majority of 432 votes (=217 votes)(Vacancies in Congress may affect vote totals.)
</td><td><center>

</center></td><td><center>

</center></td><td><center>

</center></td></tr></tbody></table>

 

[fletchisrhsm]

the budget is the responsibility of the House of Representatives, that's part of our constitution. As for sometime, who wrote Obama's stimulus budget? Nancy and the House.

As for the 1997 budget, there is little dispute who wrote that budget, who fought for that budget, who spilled political blood for that budget, what party supported that budget and what party opposed that budget. Actually, there is no debate.

Clinton gets credit for signing Newt's budget, but only after a long and very much public dispute. In December of 1995, Clinton closed down the federal government to protect America from that budget. they never arrived at a budget agreement throughout 1996 as Clinton was hoping the regain the House. When Newt remained in Control, Clinton finally signed the bill after he was given a few insignificant face saving changes. Many Democrats opposed that budget until the very end.

What's funny is how democratic leaders who actually voted against that bill in 1997 try to take credit for the fiscal responsibility and surpluses it generated. Of course their enablers allow them to do so.

Right, and who was responsible for signing W's first 6 budgets? W of course, but who gave him the budget? A Republican controlled Congress, so i ask you what is the difference? What is the difference between these liberal cocksucker's and the ones they proceeded??? Hey i got an idea, why dont you tell me how much growth we had, and that it was ok to keep passing deficit after deficit.

 

[roadreeler57]

Actually, when times get tough on a single family, many respond by creatively figuring out ways to increase bottom line revenue. And those legitimate and creative ideas often include spending money to facilitate a new enterprise and/or to expand opportunity in the present job(s).

So you mean put in more hours for less money to pay for non producers sitting on their asses doing nothing,now thats a GREAT idea!

 

[barman]

RR, perhaps you're a stranger to the notion of expanding your bottom line revenue by working more profitable and smarter jobs or ideas.

In that case, my analysis would understandably be baffling

 

[fletchisrhsm]

RR, perhaps you're a stranger to the notion of expanding your bottom line revenue by working more profitable and smarter jobs or ideas.

In that case, my analysis would understandably be baffling

Does running a coyote business with also some minor work in cuckolding in the back of a tractor trailer count?

 

[roadreeler57]

Does running a coyote business with also some minor work in cuckolding in the back of a tractor trailer count?

Youre the one with the gay ass avatar dude...

 

[fletchisrhsm]

Youre the one with the gay ass avatar dude...

As far as my "avitar", its Maynard James Keenan from Tool. He uses makeup, costumes, wigs basically anything to his his identity. He doesn't appear in his own music videos because afterall he has a son and wants a private life. You know going to the grocery store for say Steven Tyler is alot different from you and i going to the store, its an event, not just a trip down the street. Did i also mention he makes killer fucking music, probably the best act i have ever witnessed, but im just 30.

And its also something of a caveat for my Republican friends. Here i am just a guy who share alot of their ideals and yet when i question something that they dont like, they immediately seek out my avatar. Like clockwork. MJ just did it yesterday and he has done it many times not to mention many others before him (Mark L). Why thou? Because when your having a constructive and articulate debate or conversation with someone on a topic you cannot handle or control, just go for what you can use to your advantage. It must be something easy and of face value, hence my avatar.

This is a microcosm of the Republican party out in the real world. While Republicans ran around acting like Liberals and the Republican supporters were in damage control defending them now that the liberals are in their place of power its back in vogue to be against the same things they were defending not so long ago. So in this case my Avatar of a man wearing a bra is no different then a Republican spending my grand kids money and then turning around and chastising the Democrats for doing the same. The duality is what really keeps me entertained to be honest. Now Roadreeler, go back and Google all these big words, you fucking hillbilly.

 

[SmallDaddy]

the budget is the responsibility of the House of Representatives, that's part of our constitution. As for sometime, who wrote Obama's stimulus budget? Nancy and the House.

As for the 1997 budget, there is little dispute who wrote that budget, who fought for that budget, who spilled political blood for that budget, what party supported that budget and what party opposed that budget. Actually, there is no debate.

Clinton gets credit for signing Newt's budget, but only after a long and very much public dispute. In December of 1995, Clinton closed down the federal government to protect America from that budget. they never arrived at a budget agreement throughout 1996 as Clinton was hoping the regain the House. When Newt remained in Control, Clinton finally signed the bill after he was given a few insignificant face saving changes. Many Democrats opposed that budget until the very end.

What's funny is how democratic leaders who actually voted against that bill in 1997 try to take credit for the fiscal responsibility and surpluses it generated. Of course their enablers allow them to do so.

http://online.wsj.com/article/SB124170283087195963.html

WASHINGTON -- President Barack Obama released details of his $3.6 trillion fiscal-2010 budget Thursday, showing how he would expand the government's reach with programs ranging from a low-cost housing trust fund to adding 50,000 cops on the beat to spreading automatic 401(k) enrollments.
What remains unclear in the nearly 1,500 pages is how the president would try to narrow the gaping federal deficit.
The added cost of new programs detailed in Mr. Obama's budget appendix will swamp the $17 billion of potential savings anticipated from eliminating or cutting back 121 programs, enumerated in a separate document. At a time when state and local governments are slashing services, the Obama budget for 2010 shows little real sign of belt-tightening.

• http://online.wsj.com/public/page/obama-budget.html

Some of Mr. Obama's proposals to trim spending may not make it past powerful members of Congress. The president, for example, calls for phasing out payments to farmers with sales exceeding $500,000 a year -- a proposal Congress already signaled it wouldn't support.
"That won't go anywhere, it will not fly," said Montana Sen. Max Baucus, chairman of the Senate Finance Committee. "I'm surprised it's still in there."
Republicans scoffed at Mr. Obama's stab at budget-cutting. Sen. John Cornyn (R., Texas) dismissed the blueprint as "one big shell game....I don't see any tough choices being made."
The president's budget request begins a lengthy annual process in which 12 House and 12 Senate appropriations subcommittees draft detailed government-spending plans. While lawmakers tend to make changes at the margins, the bulk of a president's budget usually passes largely intact, and Mr. Obama has already gotten a jump start with approval last month of the budget blueprint into which the latest details must fit.
The Obama budget details drastic changes in areas as diverse as sex education and arms control after eight years of former President George W. Bush's conservative priorities. Mr. Bush's program to promote only sexual abstinence to teens, for instance, would be replaced with a teen-pregnancy prevention program that would discuss contraception. The decades-long effort to build a nuclear-waste dump at Yucca Mountain, Nev., would be terminated -- a conclusion favored by home-state Sen. Harry Reid, the chamber's majority leader.
As Mr. Obama tries to revive nuclear-arms control after a decade of dormancy, he would end efforts to build a new nuclear warhead for the aging U.S. atomic arsenal. And he would spend $1 billion to create an agency to oversee a national direct-deposit retirement-savings system.


Obama Budget Cuts Point To Fights Ahead

<SMALL>2:10</SMALL> Budget cuts detailed by the Obama administration Thursday set the President up for some fights down the road, WSJ's Jonathan Weisman reports. Despite cutbacks in 121 programs, the country's forecast deficit is still over a trillion dollars.





The White House's attempt to eliminate the Justice Department's State Criminal Alien Assistance Program is another lightning rod. The administration says the $400 million could be better used elsewhere and points out that it plans to hire more border-patrol agents and more quickly deport illegal immigrants who commit crimes.
But when the Bush administration tried to axe the program, critics included then-Arizona Gov. Janet Napolitano, who is now homeland-security secretary. At a briefing Thursday, a Justice Department official acknowledged the effort to scrap the "criminal alien" program would likely be ignored by lawmakers.
"What we're trying to do is reorient government activity toward things that work," said White House Budget Director Peter Orszag, playing down the idea that the administration's trims could achieve major deficit cuts.
The White House on Monday will release a revised deficit projection to take into account technical and economic changes that will almost certainly widen its February forecasts of a record deficit of $1.8 trillion for fiscal 2009, and $1.2 trillion in the fiscal year that begins in October.
Even if the president could eliminate the entire defense budget, along with domestic discretionary programs in 2009, the $1.3 trillion of savings would still leave a $445 billion budget deficit.
<CITE>Reuters</CITE> President Obama's budget details drastic changes in areas as diverse as sex education and arms control. It remains unclear how the deficit might be cut.



Entitlement programs such as Medicare, Medicaid and Social Security, along with this year's Wall Street bailout costs and $148 billion for interest payments on the federal debt, will total $2.3 trillion in the current fiscal year -- 60% of the budget. The president acknowledged the problem Thursday when he cited "challenges that will require us to make health care more affordable and to work on a bipartisan basis to address programs like Social Security."
The administration's policy goals are highlighted in programs it proposed to double over the next few years: foreign aid; cancer research; the number of children served by Early Head Start; community-development lending in poor areas; and federally funded science research.
Mr. Obama also proposes initiatives to benefit poor people: a plan to end childhood hunger by 2015; a $1 billion trust fund to develop and rehabilitate housing for very low-income residents; and $250 million to help transform extremely impoverished neighborhoods into mixed-income areas. He also wants a $2.5 billion fund to help low-income students complete college.
More cops would be put on the beat -- and not only the kind who patrol in cities and towns. Mr. Obama aims to add regulators at the Occupational Safety and Health Administration and agents at the Internal Revenue Service, among others.
The president will try to take advantage of the retirements and defeats of some powerful lawmakers, such as former Sen. Ted Stevens of Alaska, to eliminate programs they guarded zealously. Road-building under Mr. Stevens's Denali Access System and the Alaska-specific Denali job-training effort would be closed down to save $9 million.

 

[barman]

Being as my earlier Reply to RReeler was a bit flippant (I apologize), allow me to try and put the intended thought into a bit more friendly framework.


If an individual family finds themselves in a financial downturn, or faced with unexpected financial challenge, it would seem their response would fall into one of the following three parameters.

1) Cut back on spending, save every nickel and wait for their employer(s) to pay them more.

2) Cut back on spending, save every nickel and wait for the government to give them some more grease in one or more forms

3) Cut back on undue spending and launch an immediate campaign to create new revenues via a change in employment or a new business strategy - the latter of which might call for new spending to finance the fresh strategy.