Economics Obama's First Term: 2.4T in deficit reduction

Direckshun · 01-21-2013, 07:53 AM

Considering that cutting the deficit retards growth, and Obama inherited the Great Recession, this is pretty astonishing we've had this much deficit reduction without tanking growth. It does help explain, however, why growth has been steady but sluggish.

The CBPP says we need an additional 1.4T in deficit reduction, and that's it: our long term debt would be stabilized under our current economy. Which means, of course, if we could get the economy growing at a 3%+ clip again, the long term deficit is put on a downward spiral.

CoMoChief · 01-21-2013, 08:30 AM

wrong

gochiefs_va · 01-21-2013, 08:38 AM

Rofl....

Just rofl.....

You lefties will do anything eh?

something cooler · 01-21-2013, 08:51 AM

Quote:

Originally Posted by CoMoChief

wrong

how so?

Garcia Bronco · 01-21-2013, 09:05 AM

Lol..no...the deficit has not gone down. Not even a little bit. The amusing part about the graph is it's based on projections of where we'd be. It'a beyond intellectually dishonest and truly an example of someone living in the bubble.

Comrade Crapski · 01-21-2013, 09:06 AM

americanprogress.org

obamao propaganda

Brainiac · 01-21-2013, 09:23 AM

Hey, you've got admire the chutzpah of the Left. If you're going to tell a lie, make it a big one.

Quote:

From Wikipedia, the free encyclopedia
The Big Lie (German: Große Lüge) is a propaganda technique. The expression was coined by Adolf Hitler, when he dictated his 1925 book Mein Kampf, about the use of a lie so "colossal" that no one would believe that someone "could have the impudence to distort the truth so infamously."

FishingRod · 01-21-2013, 09:28 AM

I think some of you may be having trouble using government numbers and accounting practices because, they don’t exist in the real world for anyone else.

In the Federal Government's world if we spend 1 trillion dollars more than the revenue available in 2011 and then spend 500 billion dollars more than you have in 2012 you have cut the deficit in half. Also when you borrow ½ trillion or so from social security that really doesn’t count either because if and when they pay that back is kinda gray. Likewise If you take an estimated spending increase of $100 billion and only increase it by $95 billion you have cut spending by 5 billion. Have I missed anything important?

To be fair this is not anything new and is why some argued there really wasn't a surpluss under Clinton. Regardless of whichever accounting practices one would chose to use, it is palin to see our speanding is much worse now than it was then.

Munson · 01-21-2013, 09:57 AM

the steam · 01-21-2013, 10:13 AM

It's like I weigh 240 lbs. 4 years later I weigh 300. But wait, I projected myself to weigh 350 by that date so I didn't really gain 60 lbs I lost 50 lbs.

**Mr. Kotter** · 01-21-2013, 10:18 AM

Direckshun....seriously, the spin of this is laughable. Reductions in projected increases in spending may be a case of "it isn't as bad as we thought!"....however, it's sure as hell not good news.

When we start PAYING DOWN the debt, then you'd have cause to celebrate. Until then, not so much.

LiveSteam · 01-21-2013, 10:22 AM

Can I

all over this thread?

Buzz_TinBalls · 01-21-2013, 10:22 AM

Bewbies · 01-21-2013, 10:29 AM

There is no way Barackshun isn't a paid employee of Obama for America or some such outfit.

FD · 01-21-2013, 11:08 AM

Pretty bad thread title.

01-21-2013, 07:53 AM
Direckshun Black for Palestine Join Date: Oct 2006 Location: Springpatch Casino cash: $1167782	Obama's First Term: 2.4T in deficit reduction Considering that cutting the deficit retards growth, and Obama inherited the Great Recession, this is pretty astonishing we've had this much deficit reduction without tanking growth. It does help explain, however, why growth has been steady but sluggish. The CBPP says we need an additional 1.4T in deficit reduction, and that's it: our long term debt would be stabilized under our current economy. Which means, of course, if we could get the economy growing at a 3%+ clip again, the long term deficit is put on a downward spiral.
Posts: 37,650

01-21-2013, 08:30 AM	#2
CoMoChief The Revolution Has Begun Join Date: Mar 2005 Location: KCMO Casino cash: $124458	wrong __________________ 2013 Adopt-A-Chief: Eric Berry #29
Posts: 28,398

01-21-2013, 08:38 AM	#3
gochiefs_va Starter Join Date: Sep 2009 Location: Virginia Casino cash: $9014	Rofl.... Just rofl..... You lefties will do anything eh?
Posts: 357

01-21-2013, 09:05 AM	#5
Garcia Bronco No Keys, No Problem Join Date: Sep 2000 Location: Denver Casino cash: $60278	Lol..no...the deficit has not gone down. Not even a little bit. The amusing part about the graph is it's based on projections of where we'd be. It'a beyond intellectually dishonest and truly an example of someone living in the bubble.
Posts: 20,410

01-21-2013, 09:06 AM	#6
Comrade Crapski The Peoples Comrade Join Date: Mar 2012 Location: Sea of Green 23.4° Casino cash: $22598	americanprogress.org obamao propaganda __________________ I'm feeling good from my head to my shoes! Know where I'm going and I know what to do! Doo doo doo doo doo! I got a new attitude! http://www.youtube.com/watch?v=QWfZ5SZZ4xE
Posts: 3,048

01-21-2013, 09:28 AM	#8
FishingRod Veteran Join Date: Mar 2006 Casino cash: $36585	I think some of you may be having trouble using government numbers and accounting practices because, they don’t exist in the real world for anyone else. In the Federal Government's world if we spend 1 trillion dollars more than the revenue available in 2011 and then spend 500 billion dollars more than you have in 2012 you have cut the deficit in half. Also when you borrow ½ trillion or so from social security that really doesn’t count either because if and when they pay that back is kinda gray. Likewise If you take an estimated spending increase of $100 billion and only increase it by $95 billion you have cut spending by 5 billion. Have I missed anything important? To be fair this is not anything new and is why some argued there really wasn't a surpluss under Clinton. Regardless of whichever accounting practices one would chose to use, it is palin to see our speanding is much worse now than it was then.
Posts: 2,441

01-21-2013, 09:57 AM	#9
Munson Roy E. Join Date: Sep 2005 Location: Olathe, KS Casino cash: $10610	__________________ "A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed."
Posts: 3,497

01-21-2013, 10:13 AM	#10
the steam Rookie Join Date: Nov 2012 Casino cash: $729	It's like I weigh 240 lbs. 4 years later I weigh 300. But wait, I projected myself to weigh 350 by that date so I didn't really gain 60 lbs I lost 50 lbs.
Posts: 15

01-21-2013, 10:18 AM	#11
Mr. Kotter Lookin' for the answers... Join Date: Apr 2001 Location: Somewhere else Casino cash: $11200383	Direckshun....seriously, the spin of this is laughable. Reductions in projected increases in spending may be a case of "it isn't as bad as we thought!"....however, it's sure as hell not good news. When we start PAYING DOWN the debt, then you'd have cause to celebrate. Until then, not so much. __________________ Alex Smith will be better than Geno or Cassel, Alex Smith will be better than Geno or Cassel, Alex Smith will be better than Geno or Cassel, Alex Smith will be better than Geno or Cassel...
Posts: 39,467

01-21-2013, 10:22 AM	#12
LiveSteam All aboard the crazy train Join Date: Dec 2009 Location: homeof43conferencetitles Casino cash: $44245	Can I all over this thread?
Posts: 12,504

01-21-2013, 10:22 AM	#13
Buzz_TinBalls So Busted Join Date: Jan 2011 Location: kcmo Casino cash: $10999243	__________________
Posts: 6,969

01-21-2013, 10:29 AM	#14
Bewbies The "Franchise" - Seriously. Join Date: Apr 2010 Casino cash: $58386	There is no way Barackshun isn't a paid employee of Obama for America or some such outfit.
Posts: 5,780

01-21-2013, 11:08 AM	#15
FD Veteran Join Date: Dec 2006 Location: Austin, TX Casino cash: $1003953	Pretty bad thread title. __________________ Homer: [looking at watch] Two hours? Why'd they build this ghost town so far away? Lisa: Because they discovered gold over there! Homer: It's because they're stupid, that's why. That's why everybody does everything.
Posts: 3,170

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode