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Old 01-21-2013, 07:53 AM  
Direckshun Direckshun is offline
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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.
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Old 01-21-2013, 07:05 PM   #46
mlyonsd mlyonsd is offline
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Originally Posted by Direckshun View Post
How much would you have preferred Obama to reduce the deficit the past four years?

All trillion dollars? Would you have had him accomplish that in his first year?

His first two years?

I want to see exactly how far down the rabbit hole you've gone.
Giving Obama 4 years, I'd at least say by now the federal government should be running by at least even, probably an annual surplus.
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Old 01-21-2013, 07:08 PM   #47
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Old 01-21-2013, 07:14 PM   #48
Direckshun Direckshun is offline
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Originally Posted by mlyonsd View Post
Giving Obama 4 years, I'd at least say by now the federal government should be running by at least even, probably an annual surplus.
Hah.

So that's what you'd prefer. Eliminating a trillion dollar federal deficit during the worst recession since the Great Depression.

That is pretty damn deep in the rabbit hole.

You understand that deficit reduction retards growth, right? Do you recognize this?
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Old 01-21-2013, 07:30 PM   #49
mlyonsd mlyonsd is offline
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Originally Posted by Direckshun View Post
Hah.

So that's what you'd prefer. Eliminating a trillion dollar federal deficit during the worst recession since the Great Depression.

That is pretty damn deep in the rabbit hole.

You understand that deficit reduction retards growth, right? Do you recognize this?
I don't know, I'm just quoting this guy.....

Quote:
"When George Bush came into office, our debt -- national debt was around $5 trillion. It's now over $10 trillion. We've almost doubled it. ... But actually I'm cutting more than I'm spending so that it will be a net spending cut." -- Obama, during an Oct. 7, 2008, debate in Nashville
Obama headed up the worst recovery after a recession in US history all while running up the largest debt as president.

He's either a liar or a failure. You pick.
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Old 01-21-2013, 07:31 PM   #50
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Originally Posted by Direckshun View Post
Obama inherited a trillion dollar deficit.

Inherited.
No he inherited a 459B deficit. Also what makes you think he can bind future presidents and congress' to spending plans? He's got a plan to reduce deficits by 2022 when he's long gone? Hell why not just make a bs plan to reduce the debt til the year 2300?
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Old 01-21-2013, 07:40 PM   #51
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Quote:
Originally Posted by 300 Bowler View Post
It's not spin. It's an outrageous lie.

Is the deficit 2.4 trillion dollars less than when Obama took office? Yes or no?
Quote:
Originally Posted by Direckshun View Post
You misunderstand.

The projections are based on the next ten years of policy. Which is the same way budgetary calculations have been made on everything from the debt ceiling standoff of 2011 to the fiscal cliff deal of 2013.
The problem is that you chose to start a thread and give it the title "Obama's First Term: 2.4T in deficit reduction". That is a lie. Obama has increased the deficit. He hasn't reduced it. And to claim that he reduced it by $2.4 Trillion is a lie so big that Joseph Goebbels would be proud.

It doesn't matter how much you try to obfuscate, and it doesn't matter how you try to spin it and claim that a projection is just as good as an actual result. It's still a shocking and blatant lie that only a simpleton would believe.
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Old 01-21-2013, 07:56 PM   #52
Direckshun Direckshun is offline
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Quote:
Originally Posted by mlyonsd View Post
I don't know, I'm just quoting this guy.....
Obama has been a net cutter of the deficit.

Is that even in doubt?

He's cut the deficit faster and more aggressively than any President since we were fighting Hitler.

And yet conservatives want to do what? Cripple the economy by eliminating a trillion dollar deficit in four years during the Great Recession?

Seriously, that's crazy talk.
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Old 01-21-2013, 08:06 PM   #53
Direckshun Direckshun is offline
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Quote:
Originally Posted by the steam View Post
No he inherited a 459B deficit.
That is completely, factually wrong.



FactCheck.org:

Quote:
It’s true that Obama “inherited the biggest deficit in our history,” as he said on CBS. By the time Obama took office in January 2009, the nonpartisan Congressional Budget Office had already estimated that increased spending and decreased revenues would result in a $1.2 trillion deficit for fiscal year 2009, which began Oct. 1, 2008. In a detailed analysis of fiscal year 2009, we found that Obama was responsible for adding at most $203 billion to the deficit, which in the end topped $1.4 trillion that year.
PolitiFact:

Quote:
On Jan. 7, 2009, two weeks before Obama took office, the Congressional Budget Office reported that the deficit for fiscal year 2009 was projected to be $1.2 trillion.
NYT's Economix blog...

Quote:
Because of the large deficits Mr. Bush bequeathed Mr. Obama – on Jan. 8, 2009, the C.B.O. projected a deficit for the year of $1.3 trillion that didn’t include any Obama policies – Congress was deeply reluctant to enact a stimulus larger than $787 billion...
Reuters:

Quote:
The result: a $1.3 trillion deficit when he first took over the Oval Office.
New York Times:

Quote:
Nonpartisan analysts agree that Mr. Obama inherited a bad hand: the 2009 deficit was a projected $1.2 trillion when he took office because of Bush-era policies and an economic crisis that slashed tax collections and increased spending for jobless aid and other safety-net programs. He has added $1.4 trillion in stimulus spending and tax cuts, and he has continued the Bush policies that Democrats blame for the swing from surpluses to deficits: income tax cuts, a Medicare drug benefit and war operations.
Fox News:

Quote:
Obama inherited an economy in recession and a deficit in excess of $1 trillion.
Associated Press:

Quote:
Obama: His pledge to cut the deficit "we inherited" in half by end of first term is a mark likely to be missed by a wide margin. The deficit when he took office was $1.2 trillion, and the $800 billion stimulus bill Obama signed soon afterward increased the shortfall to more than $1.4 trillion.
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Old 01-21-2013, 08:07 PM   #54
Direckshun Direckshun is offline
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Originally Posted by 300 Bowler View Post
The problem is that you chose to start a thread and give it the title "Obama's First Term: 2.4T in deficit reduction". That is a lie. Obama has increased the deficit. He hasn't reduced it.
You're wrong. The deficit has shrunk during the Obama administration.

Faster than any administration since WWII, actually.
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Old 01-21-2013, 08:09 PM   #55
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Old 01-21-2013, 08:11 PM   #56
Comrade Crapski Comrade Crapski is offline
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Originally Posted by Direckshun View Post
Obama has been a net cutter of the deficit.

Is that even in doubt?

He's cut the deficit faster and more aggressively than any President since we were fighting Hitler.

And yet conservatives want to do what? Cripple the economy by eliminating a trillion dollar deficit in four years during the Great Recession?

Seriously, that's crazy talk.

There is something seriously wrong with you.
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Old 01-21-2013, 08:12 PM   #57
Direckshun Direckshun is offline
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Originally Posted by petegz28 View Post
JFC, Mrs. Direckshun is really the Black Knight!
You gotta swing your sword first, muchacho.
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Old 01-21-2013, 08:13 PM   #58
petegz28 petegz28 is offline
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You gotta swing your sword first, muchacho.
Dude, not 1 person in here agrees with the BS you posted. Not 1. Not even those who tend to be on your side of things more times than not.
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Old 01-21-2013, 08:17 PM   #59
Direckshun Direckshun is offline
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Dude, not 1 person in here agrees with the BS you posted. Not 1. Not even those who tend to be on your side of things more times than not.
Not a shit was given.

Nobody's actually rebutted me. I've had folks like Kotter say 2.4T in deficit reduction is nothing to scream about (fair enough, I suppose) but that means they agree. I've had people like Brainiac claim that the OP is dead wrong, but he didn't actually back it up with any numbers, and made a couple counterclaims which were dead wrong.
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Old 01-21-2013, 08:20 PM   #60
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Originally Posted by Direckshun View Post
Not a shit was given.

Nobody's actually rebutted me. I've had folks like Kotter say 2.4T in deficit reduction is nothing to scream about (fair enough, I suppose) but that means they agree. I've had people like Brainiac claim that the OP is dead wrong, but he didn't actually back it up with any numbers, and made a couple counterclaims which were dead wrong.
When someone tries to pass of the political/fiscal equivalent of, "The sun is made of Jell-O®," no serious rebuttal is necessary. Scorn is wholly appropriate.
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