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HomeOff Topics News & Politics › Obama's Debt
10-26-2011 09:56 PM  6 years agoPost 1
Dennis (RIP)

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10-26-2011 10:01 PM  6 years agoPost 2
Adaboy

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Not that I really care but it would be nice to hear both sides.

President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt), President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.

http://blog.heritage.org/2009/03/24...it-in-pictures/

Sounds like were cooking with gas....

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10-26-2011 10:17 PM  6 years agoPost 3
spaceman spiff

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10-26-2011 10:25 PM  6 years agoPost 4
Adaboy

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Touche
That was really stupid to make that statement without knowing if it was even possible.

Yeah not gonna happen. I don't think anyone in the next 20 years could do what he said. Stupid move.

Sounds like were cooking with gas....

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10-26-2011 10:31 PM  6 years agoPost 5
Heliguychris

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wow, that was funny.

Licensed (CASA) UAV operator certificate holder 1-YFOF5-01 www.helicamaerial.com.au

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10-26-2011 10:32 PM  6 years agoPost 6
Dennis (RIP)

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Not that I really care but it would be nice to hear both sides.

President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt), President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.

http://blog.heritage.org/2009/03/24...it-in-pictures/
Actually, right towards the top of that article that you show a link to, it says:

UPDATE: This graph is now over two years old. For up to date information see this post: The Truth about Obama's Budget Deficits, in Pictures

Here is THAT article at the Heritage Foundations "The Foundry" Note the date of the new article::
The Truth about Obama’s Budget Deficits, in Pictures
Mike Brownfield and Emily Goff July 28, 2011

Through the fog of the debt limit negotiations, President Obama has attempted to shift the blame for America’s deficit crisis to politicians at large, claiming that “neither party is blameless for the decisions that led to this problem.” Though the culture of overspending is endemic in Washington, don’t let the President fool you—some are a lot more guilty than others.

The fact is that Obama’s budget would set America on a dangerous fiscal course that leads to massive deficits well into the future—hitting $1.2 trillion in 2012 and, after dipping slightly, rising back to $1.2 trillion again by 2021.

The chart above illustrates what the country’s fiscal future looks like. As analyzed by the Congressional Budget Office, even after the massive tax hikes included in Obama’s budget, federal deficits total $9.5 trillion. In other words, under his budget, the President would more than double the national debt in just 10 years. Simply put, Obama’s budget (which didn’t even win the support of his own party in the United States Senate) would push America over a fiscal cliff.

The President’s media apologists are attempting to carry water for Obama and shift the blame for the budget mess squarely at the feet of President George W. Bush. Specifically, they argue that the wars in Afghanistan and Iraq, the tax cuts of 2001 and 2003, and the recession are all to blame for today’s deficits. It’s an argument we heard before from Obama since the days of his campaign, and it’s an argument that is as flawed today as it was then. One simple number explains it well: the budget deficit figure in 2007, the last Bush year prior to the recession. The tax cuts were in full effect, both wars were raging, and the recession had not yet struck, yet the budget deficit in 2007 was $160 billion, or about a tenth of Obama’s deficit this year.

Then there’s the President’s stimulus spending binge, which made matters worse. The policy was rooted in the false premise—recited by The New York Times—that government spending can propel the economy out of a recession. Well, it hasn’t. The economy is stuck in slow, and the hundreds of billions of stimulus dollars have only added to today’s debt and deficits.

So much for the past. Looking forward, America’s fiscal woes aren’t due to wars, recessions, or tax cuts. As Brian Riedl explained, the root of America’s fiscal woes is entitlement spending:

Entitlements and other obligations are driving the deficits. Specifically, Social Security, Medicare, Medicaid and net interest costs are projected to rise by 5.4% of GDP between 2008 and 2020. The Bush tax cuts are a convenient scapegoat for past and future budget woes. But it is the dramatic upward arc of federal spending that is the root of the problem.

To be fair, President Obama did inherit these programs. So, has he proposed remedial action? No, he’s acted to make the entitlement excesses worse by pushing through his Obamacare health care reform, which created a whole new entitlement.

Without a doubt, deficits during the Bush Administration were too high, especially in the early years. More could and should have been done to restrain spending. But, without a doubt, the Bush deficits were puny compared to what Obama and his congressional allies have inflicted. For Obama’s apologists to seek cover in the Bush deficits is shameless. To use these diversions to now take attention away from the real problem to which Obama has added is outrageous.

Entitlements are the real deficit drivers of the future, and as the chart above shows, if taxes stay at their historical norms, then entitlement spending will consume all the revenues by 2052. And that’s the fact the apologists ignore, despite the fact that even in the President’s 2012 budget entitlements account for 58 percent of spending (as you can see in the chart below).

So next time Obama or his allies in the press go back to the well and recite the well-worn verse that spending is all the other guy’s fault, take a look at the facts. President Obama has steered a fiscal course that will lead to more spending and deeper deficits and ultimately to vastly higher taxes. If you want to know the real cause of our deficits today, the answer lies primarily with Obama. If you want to know the real cause of our deficits in the near future, the answer lies in entitlement spending, which Obamacare increases.

http://blog.heritage.org/2011/07/28...ts-in-pictures/

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10-26-2011 10:33 PM  6 years agoPost 7
Dennis (RIP)

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That was really stupid to make that statement without knowing if it was even possible.

Yeah not gonna happen. I don't think anyone in the next 20 years could do what he said. Stupid move.
Very stupid.

Especially when it was not what he intended in the first place.

Is there any doubt about that now?

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10-26-2011 10:43 PM  6 years agoPost 8
Adaboy

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I see your point. Thanks for the clarification.

1 question though, how the heck do you pull all of that out of your @ss at the drop of hat. You amaze me boss man.

On a serious note, we bashed Bush, and Obama is getting it to. Who can actually fix this crap? Republicans, Democrats???

I think this whole budget thing is a make believe road they take us down so we can't see what's in front of us. It can't be this difficult to balance a budget (debits/credits). Has this budget been out of whack since the creation of the US?

Dennis I'm depending on you to tell it like it is no partisan crap please.

Sounds like were cooking with gas....

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10-26-2011 10:59 PM  6 years agoPost 9
Dennis (RIP)

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I see your point. Thanks for the clarification.

1 question though, how the heck do you pull all of that out of your @ss at the drop of hat. You amaze me boss man.
Ah shucks

Actually, I am a member of the Heritage Foundation and get regular updates from them on a daily basis via e mail. Anyone can sign up there to get the same updates. It don't cost you anything other than your time.
Dennis I'm depending on you to tell it like it is no partisan crap please.
Actually, it is. If you go back in the past 10 years or so, you can see whats happened to history. But, you got to get your common sense hat on to see whats happened. Reading "Reckless Endangerment" by Gretchen Morgenson helps a lot. You can get that one at Amazon far cheaper then a book store. It will probably piss you off. Especially if you can take off your rose colored glasses.

The housing crisis started way back in the Clinton admin when he signed legislation loosening the bank regulations on requirements for home loans. Now, Clinton may have not been responsible for the home loan fiasco. But, his signed legislation was the catalyst for what was to come as a direct result. No doubt about that. Lobbyists for large mortgage companies like Countrywide Financial & Fannie/Freddie took over from there. They were not alone. But, they were the primary guilty ones. All through the Bush admin, his admin tried to warn Congress what was coming. Those warnings were ignored by the members of the Congress and the Senate for quite a long time. There is plenty of YouTube videos about that out there of Congressional hearings to prove that. No offense, but you will have to look those up yourself. I get a bit tired of posting those links here and elsewhere.

And, no, Bush was no conservative. He was a Rhino Repub that did not have the balls to stand up against the other side. To bad. We ar all going to pay a very high price for that.

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10-26-2011 11:19 PM  6 years agoPost 10
spaceman spiff

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I don't think anyone in the next 20 years could do what he said.
Trouble is someone is going to have to do that, and every day they wait makes it a more difficult task.

I don't see a solution with the current sets of ideology. Spend to be perceived as saving the economy, or reduce tax to be perceived as saving the economy have the same effect. They all are chosing to borrow from the future for minimally effective gains today to get thru the next election cycle. They talk about it, but only in context of shuting down the other guy. There is no genuine concern about the long term consequences on any of their minds.

I am very suprized our debt rating hasn't dropped more.

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10-26-2011 11:34 PM  6 years agoPost 11
Dennis (RIP)

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I don't see a solution with the current sets of ideology. Spend to be perceived as saving the economy, or reduce tax to be perceived as saving the economy have the same effect. They all are chosing to borrow from the future for minimally effective gains today to get thru the next election cycle. They talk about it, but only in context of shuting down the other guy. There is no genuine concern about the long term consequences on any of their minds.
Neither do a lot of people that would agree.

Thats why the Tea Party came about.

No compromises. Cut, cut, cut, cut government spending, government programs, and balance the frickin budget. Period.

Look where compromises in our government has gotten us.
I am very suprized our debt rating hasn't dropped more.
Thats coming soon at the rate of our spending. Its project to hit just after November this year.

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10-26-2011 11:39 PM  6 years agoPost 12
Dennis (RIP)

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10-26-2011 11:55 PM  6 years agoPost 13
Adaboy

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I don't wholeheartedly agree with the TEA party. Sure they make some good points about budget cuts and stuff. But they have some underlying issues I don't like. They seem to encourage isolationist views and harbor some unsafe anticulturalness.

Not sold on them. If the occupy people and tea party could unite and meet in the middle that's when change will happen.

I know there are good people on both sides but where the hell are the leaders??

Sounds like were cooking with gas....

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10-27-2011 12:00 AM  6 years agoPost 14
Adaboy

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Another point I agree with the tea party is they don't play when there mind is made up!!! That stubborness is what's needed. But got to get rid of the nut jobs. Palin, Bachman and the likes.

For the record the only thing I like about occupy is the fact they are standing up for something. What? Don't really know they do not have direction or good leadership.

It would be nice if the tea party joined forces in noise and pain in the @ss level at least. That's the only thing the government will listen too.

Sounds like were cooking with gas....

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10-27-2011 12:02 AM  6 years agoPost 15
Dennis (RIP)

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I don't wholeheartedly agree with the TEA party. Sure they make some good points about budget cuts and stuff. But they have some underlying issues I don't like. They seem to encourage isolationist views and harbor some unsafe anticulturalness.
Show us where you see the "Isolationist" views and the "Anticulturalness" of the Tea Party.

I was not aware there was such a word as "anticulturalness".

It don't show up on Google.

????????

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10-27-2011 12:12 AM  6 years agoPost 16
Adaboy

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The word sounded really good to me so I said it. Busted!!! Good job. I need to coin that phrase right away hell Rush may like it too. Lol

I figured you or someone would ask for examples about it but to be honest this is my opinion based on what I've read and heard on the news. At the end of the day that's what counts as people's perception is there reality.

The images of some of those rally's in the past scared the crap out of me, made me not want to go to any because of.

Sounds like were cooking with gas....

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10-27-2011 12:27 AM  6 years agoPost 17
Dennis (RIP)

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I figured you or someone would ask for examples about it but to be honest this is my opinion based on what I've read and heard on the news. At the end of the day that's what counts as people's perception is there reality.
Then please enlighten us on your perceptions.

I did not see that. The people that I know did not see that.
The images of some of those rally's in the past scared the crap out of me, made me not want to go to any because of.
Well heck.

Which scares you more:

1) The Tea Party Rallies of the past?

2) Or, the "Occupy" type of protests you see now?

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10-27-2011 12:44 AM  6 years agoPost 18
Dennis (RIP)

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10-27-2011 12:47 AM  6 years agoPost 19
spaceman spiff

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I got dragged to a rally here, some great folks, some were embarassing... a few kinda scary even. Plenty of oportunity to spin one way or another.

keep in mind these are people who are a bit pissed off. Rightly so IMHO.

Found out my old sweety was in one of those Zombie marches. She always was and still is a perfectly responsible girl. Worked her way thru college on her own, not looking for handouts, working as a teacher ever since, damn good one too.

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10-27-2011 01:00 AM  6 years agoPost 20
Adaboy

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If you don't mind I'll skip the first question as I've answered it already.

Which scares me more? Well I've walked through occupy Dallas with my fiance~ on our way to a party and didn't feel threatend. To be fair i have not walked through a TEA party rally. I guess it depends on what you are afraid of politics or personal safety.

To me I will continue to vote the opposite party of whoever has the majority. I enjoy voting both sides. To me they are all snakes.

Sounds like were cooking with gas....

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