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re: The Deficit Has Never Been This High When the Economy Was This Strong
Posted on 8/17/19 at 9:07 am to PygmalionEffect
Posted on 8/17/19 at 9:07 am to PygmalionEffect
quote:
He did that with a republican congress that would not let him move tax revenue back up on the top 2% of the wealthiest people who don't need the money.
Had Obama had a democratic congress in any of his last six years, he could have possibly gotten us back to surplus as did the democratic president before him.
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Posted on 8/17/19 at 9:14 am to Friedbrie
quote:
This is really a black and white issue. And until we stop idolizing the politicians on both sides of the aisle (cult of personality), and limit the power and scope of government, nothing else really matters.
As a bonafide minarchist libertarian, I support this statement 100%.
Posted on 8/17/19 at 9:17 am to PygmalionEffect
quote:
The 2009 budget was prepared in 2008 by Bush. It ran the worst deficit in history, over 1.3 trillion.
I clearly remember GW, at the very end of his term when Obama was a sho-in for POTUS...that Bush was 'FORCED' to sign off on the 'bailout'. Did the Bailout factor into the '09 Budget? Did it go on Bush's tab...or Obama's? What Policy was the cause of the Collapse? Bad Paper sold to international buyers backed by Government-approved Insurance, as solid...but in truth (houses sold to Welfare recipients)worthless?
Can't fool Mother Nature, God, or the truth of Numbers. One may lie to one's self, or the Group, for any reason...but the truth always manifest in unavoidable consequence.
The bottom line here, is to what degree our 'System' can or should support vast populations (people) whose contributions or burdens on societal prosperity may be minimal, or even negative. The Collective Subsidization of immoral, irresponsible and/or numerically impractical/unsustainable populations...is societally-suicidal. Don't mesh with the Laws of Nature, God, or Numbers. But it does with the Laws of higher Morality (Jesus' Mercy-based version). So...go figure.
Posted on 8/17/19 at 9:19 am to Nguyener
yeah he is mentally ill. dodges all the facts I laid out. too willfully lazy to look them up. I am not re linking everything for him again. he won't address any of it because he knows they are true and were true now or at some point in time during obamas 8 years. hell a quick check shows public debt doubled under obama. i mean was obama not POTUS? that is the argument and he is denying it! LOL
he even thought obama was not POTUS in 2009
all he can do is cry, spin and dodge about congress.
we could say thanks to GOP we had a surplus under clinton?? that is not the argument. clinton had a boost from prior policies possibly and the tech boom. we would have done even better without his overtax and overregulate policies. altho obama was worse in that regard. obama's tenure proved what clinton's may have been had he not inherited the tech boom. shite clinton went into a recession anyway.
LINK
he even thought obama was not POTUS in 2009
all he can do is cry, spin and dodge about congress.
we could say thanks to GOP we had a surplus under clinton?? that is not the argument. clinton had a boost from prior policies possibly and the tech boom. we would have done even better without his overtax and overregulate policies. altho obama was worse in that regard. obama's tenure proved what clinton's may have been had he not inherited the tech boom. shite clinton went into a recession anyway.
quote:
So Bill Clinton came into office and raised taxes on an accelerating economy, and produced a lethargic economy. Republicans pushed through a tax cut in 1997 and thereby launched the famous Clinton boom. Then Clinton left his successor with a nasty recession. And from this is fashioned a legend of economic performance. Damage done on both ends and a prosperity at least shared by Republicans—and yet the legend lives on. As long as the legend endures, President Obama sensibly would want to set aside past differences and wrap himself in the Clinton flag. Obama’s alternative is to defend his own record, which he simply cannot do, even giving himself a grade of “incomplete” while his wife pleads for “more time.” Incomplete after four years? More time to press the case for higher spending, higher taxes, and more regulation, all of which have served only to restrain the most prosperity-oriented economy in the world?
LINK
This post was edited on 8/17/19 at 9:35 am
Posted on 8/17/19 at 9:20 am to Friedbrie
I’ve concluded that no one cares. Both parties will continue to point the finger at each other and ultimately it will be the fault of which ever Party is in the White House when it collapses.
Posted on 8/17/19 at 9:23 am to AlbinoGator
quote:
Hopefully when MAGA gets the trade deal done with the CHI-COMS we will see this start to see this dive down
Bless your heart.
Posted on 8/17/19 at 9:23 am to Fat Bastard
quote:
1.8% GDP average his 8 years in office. DOGSHIT
Obama was gifted a -2.8% recession caused in large part by the deregulatory actions of his predecessors.
Being able to average 1.8% over his 8 years, without another single contraction is far from dogshit. It’s an accomplishment.
Yes, it was fueled by low interest rates, but you can’t hold that against Obama. I don’t recall Obama publicly threatening Bernanke if he didn’t lower rates. In fact, I can’t recall Obama ever publicly injecting himself into fed decisions.
You can post all the :rofl: emojis you want, but it doesn’t make your argument any stronger.
Posted on 8/17/19 at 9:25 am to victoire sécurisé
quote:
Being able to average 1.8% over his 8 years, without another single contraction is far from dog shite. It’s an accomplishment.
Lol so many excuses for the guy
quote:
Obama was gifted a -2.8% recession caused in large part by the deregulatory actions of his predecessors.
You mean Clinton/Cuomo
Posted on 8/17/19 at 9:26 am to Friedbrie
What those thieves do with our hard earned tax money should be enough to cause us to riot and burn Washington down. It's frickin unreal what we get for what we pay
Posted on 8/17/19 at 9:26 am to Friedbrie
quote:Basically true. Even when one looks at the more apropos Deficit-to-GDP, though it may not be the highest, it is very high.
The Deficit Has Never Been This High When the Economy Was This Strong
Posted on 8/17/19 at 9:31 am to Aubie Spr96
quote:
I’ve concluded that no one cares. Both parties will continue to point the finger at each other and ultimately it will be the fault of which ever Party is in the White House when it collapses.
Agreed. Collapse or not, some amount of pain is needed for correction. The problem is a genuine person who runs for office and starts telling the truth doesn't make it very far. Telling the truth is political suicide. So essentially we are left with a bunch of liars who will say anything to get elected.
This post was edited on 8/17/19 at 9:33 am
Posted on 8/17/19 at 9:35 am to victoire sécurisé
quote:
recession caused in large part by the deregulatory actions
Posted on 8/17/19 at 9:36 am to Friedbrie
Not a problem. FedGov will greatly de-value the dollar in order to pay off the new debt with less valuable dollars.
Of course, this means that what cost $100 dollars today will cost $200 in ten years.
Go research what a brand new Cadillac cost back in 1969. That's 50 years ago. Go see what happened to the value of your dollar in just 50 years.
Of course, this means that what cost $100 dollars today will cost $200 in ten years.
Go research what a brand new Cadillac cost back in 1969. That's 50 years ago. Go see what happened to the value of your dollar in just 50 years.
Posted on 8/17/19 at 9:36 am to PygmalionEffect
quote:Who are you to say they don't need the money
He did that with a republican congress that would not let him move tax revenue back up on the top 2% of the wealthiest people who don't need the money.
Posted on 8/17/19 at 9:39 am to Y.A. Tittle
He is kinda right. Lending mandated by Barney caused a hell of a mess.
This post was edited on 8/17/19 at 9:40 am
Posted on 8/17/19 at 9:39 am to roadGator
quote:
Politicians suck. No doubt.
They do suck and both have a spending problem.
How can you hold their feet to the fire, when the media and extreme sky screamers, say people will die if anything is cut?
It’s always about the next election and not the long Game
Posted on 8/17/19 at 9:40 am to Janky
Which is not AT ALL a “deregulatory action,”
Posted on 8/17/19 at 9:43 am to PygmalionEffect
quote:
The 2009 budget was prepared in 2008 by Bush. It ran the worst deficit in history, over 1.3 trillion.
Because we were recovering from the Bush recession with a massive tax bail out for the wealthy that put us in there to being with.
Are you forgetting the input that both the McCain and Obama were granted for TARP?
Posted on 8/17/19 at 9:47 am to AlbinoGator
quote:
If Barack Hussein O would not have doubled the debt ( went from 9 to 18 trillion) in his 8 piss poor years.
Hopefully when MAGA gets the trade deal done with the CHI-COMS we will see this start to see this dive down
Richard Nixon: Added $121 billion, a 34 percent increase from the $354 billion debt at the end of President Johnson's last budget, FY 1969.
Gerald Ford: Added $224 billion, a 47 percent increase from the $475 billion debt at the end of Nixon's last budget, FY 1974.
Jimmy Carter: Added $299 billion, a 43 percent increase from the $699 billion debt at the end of Ford's last budget, FY 1977.
Ronald Reagan: Added $1.86 trillion, a 186 percent increase from the $998 billion debt at the end of Carter's last budget, FY 1981.
George H.W. Bush: Added $1.554 trillion, a 54 percent increase from the $2.857 trillion debt at the end of Reagan's last budget, FY 1989.
Bill Clinton: Added $1.396 trillion, a 32 percent increase from the $4.4 trillion debt at the end of George H.W. Bush's last budget, FY 1993.
George W. Bush: Added $5.849 trillion, a 101 percent increase from the $5.8 trillion debt at the end of Clinton's last budget, FY 2001.
Barack Obama: Added $8.588 trillion, a 74 percent increase from the $11.657 trillion debt at the end of Bush’s last budget, FY 2009.
Posted on 8/17/19 at 9:48 am to Friedbrie
quote:
This is really a black and white issue. And until we stop idolizing the politicians on both sides of the aisle (cult of personality), and limit the power and scope of government, nothing else really matters.
Do you remember when some of us Trump supporters were lit AF when he signed the Omnibus? This one does.
Congress isn't worth a damn and has been fricking us over for far too long. I don't understand how people get pissed about tax cuts when our government can't pass a damn budget.
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