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jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
27845 posts

re: What do you guys think?

quote:

You guys are not arguing with me, you're arguing with the Congressional Budget Office and the Federal Reserve of St. Louis, but don't worry you aren't alone. Only 6% of Americans (myself included) could tell you that the deficit is shrinking at the fastest past in modern American history.


can you tell me how badly the CBO missed the impact of obamacare on the deficit? probably not. CBO is never wrong, correct?

just use common sense and tell me how this works:
revenue down
expenses stagnant
unfunded mandates up

and you want to tell me hes doing a good job with the deficit? come on sheep, baaaah baaaah baaah some more.


eta: oh and tell me again how obamacare will give us better care at a better price again. i need a good laugh.

clown.
This post was edited on 2/28 at 9:02 pm


Something over there
Arkansas Fan
Fayetteville, AR
Member since Mar 2012
1096 posts

re: What do you guys think?
quote:

If we already have a deficit and each fiscal year is projected to have a deficit then, by definition, isn't he "growing the deficit"?


NO, try again... The deficit and the National Debt are different. Deficit is the difference between revenue and spending. Debt is National debt.


HailHailtoMichigan!
Michigan Fan
Coto de Caza, CA
Member since Mar 2012
20586 posts

re: What do you guys think?
quote:

Something over there
What has he cut?


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BigBoyTiger
LSU Fan
Chicago
Member since Aug 2005
8785 posts

re: What do you guys think?
quote:

The stimulus - The GOP actually said it wasn't big enough at the time


That's a flat out false hood and lie. You know it too

ETA: I can't recall any republicans that were in favor of it. Most were in favor of lowering taxes not ramping up government spending, dolt.
This post was edited on 2/28 at 9:05 pm


jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
27845 posts

re: What do you guys think?
quote:

A budget has been passed every single year that Obama has been the president. I'm not re-posting the exact dates and times, but you're welcome to Google it or go way back in my post history to find it.

This is a fact.


oh my


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BigBoyTiger
LSU Fan
Chicago
Member since Aug 2005
8785 posts

re: What do you guys think?
quote:

The deficit and the National Debt are different. Deficit is the difference between revenue and spending. Debt is National debt.


So tell me, how the frick do you continue to fund a deficit when there wasn't a surplus to start from? How does this happen? You seem to understand accounting and finance so well, so tell me, how is this gap each and every year funded?


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Walking the Earth
Member since Feb 2013
6227 posts

re: What do you guys think?
quote:

NO, try again... The deficit and the National Debt are different. Deficit is the difference between revenue and spending. Debt is National debt.



Where does the national debt come from then?

You seem to know a lot about this so I'm curious.


Something over there
Arkansas Fan
Fayetteville, AR
Member since Mar 2012
1096 posts

re: What do you guys think?
quote:

can you tell me how badly the CBO missed the impact of obamacare on the deficit? probably not. CBO is never wrong, correct?

just use common sense and tell me how this works:
revenue down
expenses stagnant
unfunded mandates up

and you want to tell me hes doing a good job with the deficit? come on sheep, baaaah baaaah baaah some more.


Hmmm, who should I trust on this? Ivy League educated economist working for the nation's federal reserves, and CBO or jcole4lsu? Answer is obvious. The deficit (not to be confused with debt ) is shrinking it grew rapidly under Bush and Shrunk under Clinton.


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21535 posts

re: What do you guys think?
Deficits by year:



2005: $553,656
2006: $574,264
2007: $500,679
2008: $1,017,071
2009: $1,885,104
2010: $1,651,794
2011: $1,228,717
2012: $1,224,790


Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
39105 posts

re: What do you guys think?
quote:

ETA: I can't recall any republicans that were in favor of it. Most were in favor of lowering taxes


Well, you are sorta right. The GOP was most definitely in favor of increasing the debt and deficit MUCH faster than Obama by large tax cuts.

Pretty funny if you think about it and a good thing they failed. Hell, we might have had a $2T deficit and be at $20T in debt right now had they been successful with the tax side.


BigBoyTiger
LSU Fan
Chicago
Member since Aug 2005
8785 posts

re: What do you guys think?
This clown doesn't understand how continual deficits get funded.


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Something over there
Arkansas Fan
Fayetteville, AR
Member since Mar 2012
1096 posts

re: What do you guys think?
quote:

Where does the national debt come from then? You seem to know a lot about this so I'm curious


Years upon years of deficit spending. We will always have national debt, the last time we didn't owe money was in the 1830's. The amount of money we owe is growing slower since Obama took over? Does that make since?


jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
27845 posts

re: What do you guys think?
quote:

Hmmm, who should I trust on this? Ivy League educated economist working for the nation's federal reserves, and CBO

you mean the ones who can and have missed projections... badly? who create reports that can be twisted and turned to reflect whatever you want (as all numbers can0?
yeah. those guys.

answer the question already:
revenue down
spending stagnant
unfunded mandates up

oh and interest on debt: rising quickly


yeah, bang up job hes doing


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Tiger n Miami AU83
Auburn Fan
Miami
Member since Oct 2007
39105 posts

re: What do you guys think?
quote:

2005: $553,656
2006: $574,264
2007: $500,679
2008: $1,017,071
2009: $1,885,104

2010: $1,651,794
2011: $1,228,717
2012: $1,224,790


Stimulus was $885B and needed due to the wondeful Bush years. Had it not been needed I guess you are pointing out the deficit would have dropped in Obama's first year?
This post was edited on 2/28 at 9:10 pm


jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
27845 posts

re: What do you guys think?
quote:

2005: $553,656
2006: $574,264
2007: $500,679
2008: $1,017,071
2009: $1,885,104
2010: $1,651,794
2011: $1,228,717
2012: $1,224,790


whoooooooooooooooooops


Replies (0)
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Something over there
Arkansas Fan
Fayetteville, AR
Member since Mar 2012
1096 posts

re: What do you guys think?
quote:

Deficits by year:



2005: $553,656
2006: $574,264
2007: $500,679
2008: $1,017,071
2009: $1,885,104
2010: $1,651,794
2011: $1,228,717
2012: $1,224,790



I'm going to need a source man. Our deficits are way hire than $1,224,790.... That post is a load of shite. So carry on.


BigBoyTiger
LSU Fan
Chicago
Member since Aug 2005
8785 posts

re: What do you guys think?
quote:

Pretty funny if you think about it and a good thing they failed.


Yeah because government spending really worked. If anything our "President" hasn't done anything to make the economy better.

The "multipliers" for government spending are vastly overstated

quote:

The GOP was most definitely in favor of increasing the debt and deficit MUCH faster than Obama by large tax cuts.


WTF? No they weren't. They just feel, as do I and most on this board, that handing money straight to the people versus handing it to the government to spend results in a much robust economy. And they are correct.


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Walking the Earth
Member since Feb 2013
6227 posts

re: What do you guys think?
quote:

Years upon years of deficit spending. We will always have national debt, the last time we didn't owe money was in the 1830's. The amount of money we owe is growing slower since Obama took over? Does that make since?



It would make a lot more if any of his projected deficits were lower than the 2008 one.



jcole4lsu
Virginia Fan
The Kwisatz Haderach
Member since Nov 2007
27845 posts

re: What do you guys think?
quote:

Our deficits are way hire than $1,224,790.... That post is a load of shite.

obviously that wasnt the exact figure, ever heard of roundi.... you know what. nevermind. its clear you have never read a financial report in your entire life


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joshnorris14
Florida Fan
Florida
Member since Jan 2009
21535 posts

re: What do you guys think?
quote:

Had it not been needed I guess you are pointing out the deficit would have dropped in Obama's first year?


That is not what I am pointing out. But if you are going that route, the TARP bailouts were hundreds of billions of dollars as well in 2008.

And neither were needed. I have an empty one mile stretch of "beautiful" highway I can show you.


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