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Started By
Message
re: National debt tops $22 trillion for the first time as experts warn of ripple effects
Posted on 2/13/19 at 9:52 am to wickowick
Posted on 2/13/19 at 9:52 am to wickowick
quote:
I would also like to point out that the democrats took control of Congress in 2006.
I'd like to point out that the entire world economy crumbled in 2008. The biggest chunks of debt were incurred in the years directly following the collapse. And the budgets really weren't that bloated (relatively speaking). It's just that tax revenues plummeted.
2
Posted on 2/13/19 at 9:52 am to tigersbb
quote:And yet Republican love attributing the FY 2009 budget deficit on Obama.
The media is spinning this as hard as they can while virtually ignoring it during the Obama administration. Actually only the budget defict through fiscal year 2017 which ended in 2018 can be atributed to Trump. The last Obama fiscal year budget ran through September of 2017.
BTW, pretty sure you are off in fiscal years. The FY 2017 ended in 2017.
Posted on 2/13/19 at 10:00 am to mmcgrath
quote:
And yet Republican love attributing the FY 2009 budget deficit on Obama.
BTW, pretty sure you are off in fiscal years. The FY 2017 ended in 2017.
Exactly. The oft-referenced "doubling of the debt in 8 years" includes a $1.5 trillion deficit that was the product of the prior administration and the economic apocalypse but it is conveniently assigned to obama.
LINK
This post was edited on 2/13/19 at 10:03 am
Posted on 2/13/19 at 10:03 am to Codythetiger
quote:You left out:
-Cut spending
-Increase taxes to 90%
-Become Socialist country
-Kill 150 Million Americans off due to starvation and regime control
-???
-Profit
Free college for all
Free Healthcare for the entire world with Open Borders
Guaranteed Income for those Unwilling to work
Posted on 2/13/19 at 10:03 am to cahoots
quote:
I'd like to point out that the entire world economy crumbled in 2008. The biggest chunks of debt were incurred in the years directly following the collapse. And the budgets really weren't that bloated (relatively speaking). It's just that tax revenues plummeted.
While that is true, most of that debt piled up is because of the stimulus money that was never removed from the budget. That money is still in the budget, still being added every year and compounding at 5-6% interest annually.
Posted on 2/13/19 at 10:06 am to wickowick
quote:
While that is true, most of that debt piled up is because of the stimulus money that was never removed from the budget. That money is still in the budget, still being added every year and compounding at 5-6% interest annually.
But that doesn't stop republicans from giving obama "credit" for the 2009 budget which was passed before he was even in office!
More could have been done to tamp down the spending in latter years but you are starting from a very deceptive angle.
Posted on 2/13/19 at 10:09 am to wickowick
quote:
largest reason why the debt has been growing is because of the stimulus money added to the budget in Obama's first term. Because no new budgets were passed that money has stayed in the budget every year and it is compounding at 5-6% per year due to automatic budget increases.
This gets overlooked by the left purposely but needs to be shared over and over.
Posted on 2/13/19 at 10:11 am to cahoots
Obama signed the 787 billion dollar stimulus bill. He owns that. Congress had deemed the budget passed for years without voting on a new budget, allowing that money to become entrenched in the federal gov't spending. I blame plenty of people. I am just pointing out the facts.
Posted on 2/13/19 at 10:17 am to wickowick
quote:
Obama signed the 787 billion dollar stimulus bill. He owns that. Congress had deemed the budget passed for years without voting on a new budget, allowing that money to become entrenched in the federal gov't spending. I blame plenty of people. I am just pointing out the facts.
Well, in that case, Trump signed the omnibus spending bill. And he was under far less economic pressure that Obama when he signed the stimulus.
Posted on 2/13/19 at 10:21 am to boogiewoogie1978
quote:The debt did *NOT* start rising “a little more than a year ago”.
The national debt has been rising at a faster rate following the passage of President Donald Trump’s $1.5 trillion tax-cut package a little more than a year ago
Clearly the problem is Trump’s tax cuts!!
Posted on 2/13/19 at 10:22 am to boogiewoogie1978
Crickets for 8 years of adding over a trillion per year
Posted on 2/13/19 at 10:23 am to cahoots
quote:That’s because most of the deficit spending was signed after Obama took office its completely appropriate.
But that doesn't stop republicans from giving obama "credit" for the 2009 budget which was passed before he was even in office!
Also note that Bush gets “credit” for TARP as spending under his term. Obama gets the repayment and profit from it.
This post was edited on 2/13/19 at 10:25 am
Posted on 2/13/19 at 10:24 am to boogiewoogie1978
Time to eliminate entitlements and cut back on military spending some. It’s an easy fix, but nobody in DC wants to take “free” stuff from the leeches in our society who are unwilling to work. I believe a large percentage of Republicans would be willing to cut back on some of the military spending, but they would need the Dems to show some serious cuts that benefit the majority of their voter base. Which will never happen. F It. Bring on the recession/depression and let those living on the government purge themselves or get to working.
Posted on 2/13/19 at 10:28 am to wickowick
quote:
That money is still in the budget, still being added every year and compounding at 5-6% interest annually.
Spending was actually lower in 2012-2014 compared to, say, 2011. It doesn't make sense to pinpoint that one budget item as the reason for exploding deficits.
Posted on 2/13/19 at 10:32 am to boogiewoogie1978
Well, we only have 12 years left on this earth.
How high can it go?
How high can it go?
Posted on 2/13/19 at 10:32 am to Taxing Authority
quote:
That’s because most of the deficit spending was signed after Obama took office its completely appropriate.
But they're assigning the entire $1.5 trillion deficit to obama. That includes stimulus plus a budget he had no control over. Plus a huge decline in revenue that he had no control over.
Posted on 2/13/19 at 10:32 am to cahoots
quote:Simply untrue. While tax revenue did dip, it only dipped ~$400B and recovered very quickly.
And the budgets really weren't that bloated (relatively speaking). It's just that tax revenues plummeted.
Spending however increased well over $800B and has never been lowered from those supposed “emergency” levels.
This post was edited on 2/13/19 at 10:33 am
Posted on 2/13/19 at 10:34 am to Taxing Authority
quote:
Simply untrue. While tax revenue did dip, it only dipped ~$400B and recovered very quickly.
Quickly? It tooks years.
Easily over a trillion just in "lost" revenues compared to prior levels
This post was edited on 2/13/19 at 10:35 am
Posted on 2/13/19 at 10:36 am to cahoots
quote:And that’s about right when you correctly allocate TARP and he stimulus bill.
But they're assigning the entire $1.5 trillion deficit to obama.
quote:You mean the ARRA passed on February 10, 2009? Poor Obama... Bush made him do it!!
That includes stimulus plus a budget he had no control over.
This post was edited on 2/13/19 at 10:37 am
Posted on 2/13/19 at 10:38 am to cahoots
quote:
Quickly? It tooks years.
it took 2 years. What about the other six years? quote:
Easily over a trillion just in "lost" revenues compared to prior levels
Nope. 
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