US Budget Deficit Goes Up to 1.8 TRILLION Dollars

[IllTestYourGirls]

http://news.yahoo.com/s/ap/20090511/...s_obama_budget

What is this 4x the record deficit?

[Serge Litehead]

they're spending and printing green like there is no tomorrow

[who]

[cykoe6]

Hope and change!!!

[DaddyHalbucks]

It will cause more panic and allow the socialists to steal yet more money.

[DaddyHalbucks]

Note how GWB is blamed by the current administration.

[kane]

Doesn't the Obama budget include the cost of the wars in Iraq and Afghanistan which Bush reported differently?

I'm not saying Bush was worse, nor defensing Obama and his big spending, I'm just saying that the actual budget deficit has probably been this big for a few years now, they just didn't report it as such.

[Pleasurepays]

You can't have a Reagan without a Carter. Welcome to the normal cycle of politics.

[Sly]

Originally Posted by DaddyHalbucks

Note how GWB is blamed by the current administration.

LOL. It isn't like he helped any.

I wouldn't mind the billions and billions of dollars from the Iraq and Afghanistan wars back... or perhaps the money back from the retarded bailouts last fall.

[nation-x]

Originally Posted by IllTestYourGirls

http://news.yahoo.com/s/ap/20090511/...s_obama_budget

What is this 4x the record deficit?

an increase of $500B from the Bush deficit.

[nation-x]

Originally Posted by kane

Doesn't the Obama budget include the cost of the wars in Iraq and Afghanistan which Bush reported differently?

I'm not saying Bush was worse, nor defensing Obama and his big spending, I'm just saying that the actual budget deficit has probably been this big for a few years now, they just didn't report it as such.

bingo... they never included any of that in their budget numbers.

[Sausage]

Originally Posted by DaddyHalbucks

Note how GWB is blamed by the current administration.

While Bush was quite good for the economy, I don't think he can get away with no blame. Though Obama obviously didn't take history at school because he is repeating the same major mistakes that led to almost every major depression and deep recession .. especially the 1930's one and that long recession Japan endured from doing the exact same thing.

You really do have a bunch of useless wankers in charge over there.

[SomeCreep]

Andrew Jackson is probably rolling in his grave. Under his presidency was the only time in U.S. history that the U.S. deficit was at $0.

[MediaGuy]

Good luck with that. If we can get rid of Stephen Harper, maybe we won't meet at the bottom of the same pork barrel.

:D

[mmcfadden]

I don't even know what the numbers mean...

All I know is all my money in the market is backed by puts cuz me thinks the market is gonna crash harder then 1929

[lazycash]

[mmcfadden]

Originally Posted by lazycash

good fuckin video...

It's like why wouldn't things seem kinda normal right now since billions, and billions of dollars has been put into circulation. Sure... I have a couple jobs going forward but that video hit it on the head...

WOW!

[IllTestYourGirls]

Originally Posted by mmcfadden

good fuckin video...

It's like why wouldn't things seem kinda normal right now since billions, and billions of dollars has been put into circulation. Sure... I have a couple jobs going forward but that video hit it on the head...

WOW!

Its no longer billions and billions it is now TRILLIONS AND TRILLIONS

[IllTestYourGirls]

Originally Posted by nation-x

bingo... they never included any of that in their budget numbers.

Well I guess with Obamas prediction of MASSIVE deficits running for the next 10+ years he is expecting to stay in Iraq and Afghanistan that long

[pornguy]

Stop bailing out companies that should have gone out of business.

[seeandsee]

http://topdocumentaryfilms.com/zeitgeist-addendum/

[octane]

Originally Posted by pornguy

Stop bailing out companies that should have gone out of business.

unfortunately, that's not an option.

[Snake Doctor]

IF republicans had toed the line on spending when they were in power, they'd have the credibility to oppose the Democrat's spending.

Since they didn't, criticizing it now makes them hypocrites. They're not opposed to deficit spending, they're opposed to what the money is being spent for. (democratic priorities instead of republican ones)

BTW, this year's record deficit includes the one time spending from the stimulus package. A package that the vast majority of economists said was necessary.
Another big reason for the deficit being so large is the decrease in tax revenues that comes with a recession. No sane person could possibly blame the current administration for this recession.

FWIW, this year's deficit number is meaningless in the long term. The biggest long term threat to our fiscal health is the cost of health care specifically, and entitlements in general. We could balance the budget every year for the next 10 years but if we don't reform health care and other entitlement programs, they will bankrupt us not long after that.

I, for one, think we should wait and see what gets done in terms of health care and entitlement reform before passing judgment on the fiscal sanity or insanity of the Obama administration.

With some neat accounting tricks and a bubble economy that was booming on paper, it looked like the Bush administration wasn't so bad vis a vis deficits. Looking back now, we're much worse off financially than we were when he took office.
Let's not miss the forest for the trees is all I'm saying.

[GetSCORECash]

That's it. 1.8 TRILLION Dollars? You didn't add the 2.5 Trillion owed to Social Security?

[tony286]

Originally Posted by Sausage

While Bush was quite good for the economy, I don't think he can get away with no blame. Though Obama obviously didn't take history at school because he is repeating the same major mistakes that led to almost every major depression and deep recession .. especially the 1930's one and that long recession Japan endured from doing the exact same thing.

You really do have a bunch of useless wankers in charge over there.

World war 2 ended the depression why was that? Large government spending. if they let all those businesses fail and Im no fan of carrying the scumbags. But if they didnt we wouldnt be online bullshtting about this.We would be wondering where our next meal was coming from because the banking industry would of collapsed. Also if they let the automotive industry collapse if would of had a huge ripple effect. The right can bitch about it now but if it was mccain it they would be doing the same thing. dont kid yourself. Senator Burr(republican) was so scared last fall after a briefing with paulson.he immediately called his wife and said start going to the atm twice a day and take out as much money as possible because they maybe no money to get in a week. So now its safe to throw arrows.

[MovieMaster]

Originally Posted by Sausage

While Bush was quite good for the economy, I don't think he can get away with no blame. Though Obama obviously didn't take history at school because he is repeating the same major mistakes that led to almost every major depression and deep recession .. especially the 1930's one and that long recession Japan endured from doing the exact same thing.

You really do have a bunch of useless wankers in charge over there.

Yall werent bitching about the economy till the last year and a half... gotta remember who had control of congresses and they sure as hell had worse approval ratings..

[MovieMaster]

Still havent accounted in this years budget either.

[Pleasurepays]

Originally Posted by MovieMaster

Yall werent bitching about the economy till the last year and a half... gotta remember who had control of congresses and they sure as hell had worse approval ratings..

that's not true at all. bush had dismal approval ratings on BOTH SIDES and this was a huge part of it.

and this is the point... people did nothing but freak out about spending, deficits etc etc.. and here we are. Obama is making Bush look like the miserly grandma and the same people who were bitching all these years are suddenly quiet and suddenly, retarded spending is totally defensible.

[Snake Doctor]

Originally Posted by Pleasurepays

that's not true at all. bush had dismal approval ratings on BOTH SIDES and this was a huge part of it.

and this is the point... people did nothing but freak out about spending, deficits etc etc.. and here we are. Obama is making Bush look like the miserly grandma and the same people who were bitching all these years are suddenly quiet and suddenly, retarded spending is totally defensible.

Hey, it's not "retarded spending", it's "special spending" ok?

[bbm]

Good money

[SuzzyQ]

This deficit will never be paided off in our life times.

[voa]

That is so much

[Matt 26z]

Originally Posted by SuzzyQ

This deficit will never be paided off in our life times.

Sure it will, after WW3 and forgiveness of debt is part of cease fires.

[USUALENT]

its only gonna go higher

[Snake Doctor]

Originally Posted by SuzzyQ

This deficit will never be paided off in our life times.

I guess not because we obviously need to spend ALOT more money on public education. Specifically English.

[Hawkeye]

Originally Posted by tony404

World war 2 ended the depression why was that? Large government spending.

No, dumbass. WW2 did not end the Depression. That's as dumb as saying that we should pay people to break windows and fix them again.

The reason the USA was in relatively good shape in 1946 is because most of Europe and Asia were in ruins. The USA was the only country that didn't have to rebuild itself, so the dollar was strong.

[kane]

Originally Posted by Hawkeye

No, dumbass. WW2 did not end the Depression. That's as dumb as saying that we should pay people to break windows and fix them again.

The reason the USA was in relatively good shape in 1946 is because most of Europe and Asia were in ruins. The USA was the only country that didn't have to rebuild itself, so the dollar was strong.

So isn't that basically saying the same thing? WW2 caused these countries to be in ruins and with the US not having to rebuild itself left us with an economic advantage - an advantage we may very well not have had if those countries weren't in ruin.

WW2 leaving these countries in ruins and having to rebuild themsleves = US in a good position because of it = WW2 helped end the depression.

[JFK]

Originally Posted by holograph

they're spending and printing green like there is no tomorrow

the green ink is running low

[IllTestYourGirls]

Originally Posted by Snake Doctor

I guess not because we obviously need to spend A LOT more money on public education. Specifically English.

This is exactly the thinking that is fucking over America.

Snake admits the school system is failing so his solution is to throw more money at it. Money fixes everything right? Why is it that Bush spent many more times Clinton did on education and it is still failing?

How about we stop funding failing schools and make it so they are REWARDED when they do well? Or allow vouchers so schools compete for parents and students? I bet you see a turn around in education system within two years with a lot LESS money needed to fund them.

[tony286]

Originally Posted by IllTestYourGirls

This is exactly the thinking that is fucking over America.

Snake admits the school system is failing so his solution is to throw more money at it. Money fixes everything right? Why is it that Bush spent many more times Clinton did on education and it is still failing?

How about we stop funding failing schools and make it so they are REWARDED when they do well? Or allow vouchers so schools compete for parents and students? I bet you see a turn around in education system within two years with a lot LESS money needed to fund them.

See I think it isnt the schools failing. Now since both parents have to work to make ends meet or single mothers working all the time. There is no one who has time to have interest in their child's education. My mother was to rule with a iron fist to make sure homework and studying was done.

[tony286]

Originally Posted by kane

So isn't that basically saying the same thing? WW2 caused these countries to be in ruins and with the US not having to rebuild itself left us with an economic advantage - an advantage we may very well not have had if those countries weren't in ruin.

WW2 leaving these countries in ruins and having to rebuild themsleves = US in a good position because of it = WW2 helped end the depression.

Yep building all those tanks, planes, uniforms etc etc. Had no effect. I guess Dr Paul Krugman must be a dumbass also.

[Snake Doctor]

Originally Posted by Hawkeye

No, dumbass. WW2 did not end the Depression. That's as dumb as saying that we should pay people to break windows and fix them again.

The reason the USA was in relatively good shape in 1946 is because most of Europe and Asia were in ruins. The USA was the only country that didn't have to rebuild itself, so the dollar was strong.

Yes dumbass, WW2 did end the depression.

Paying people to break windows and fix them again is EXACTLY what John Maynard Keynes advocated, except he used the analogy that the government should pay one group of people to dig holes and another group of people to fill them back up.

Of course, you with your MASH name and Star Trek avatar are obviously far more competent in the field of economics than John Maynard Keynes, AND all of the conservative economists who say WWII ended the depression (which is their way of trying to say the New Deal didn't work)

The depression was over way before 1946. We had full employment in this country pretty much as soon as we started building tanks and planes to send to the European and Pacific theaters.

Idiot.

[Snake Doctor]

Jesus, there's no mistaking why I put this idiot on ignore.

I just saw this because it was quoted by tony404
Originally Posted by IllTestYourGirls
This is exactly the thinking that is fucking over America.

Snake admits the school system is failing so his solution is to throw more money at it.

OMG are you that fucking dense?
I was making fun of someone's piss poor grammar, and made a joke about it, and you try to turn that into an argument about school vouchers?

Yeah, my jokes about people's grammar are the kind of thinking that's fucking over America.

Oy vey.

Please people, don't quote this douche bag anymore. There's a reason I have him on ignore.

[Pleasurepays]

Originally Posted by Snake Doctor

IF republicans had toed the line on spending when they were in power, they'd have the credibility to oppose the Democrat's spending.

Since they didn't, criticizing it now makes them hypocrites. They're not opposed to deficit spending, they're opposed to what the money is being spent for. (democratic priorities instead of republican ones)

this goes both ways right?

dems did nothing but complain about budget deficits and didn't waste any time at all pushing through funding for every socialist project that couldn't get through in years past.

as a first course of action, they passed the single largest spending bill ever without even reading it or debating it.

you can't pretend that it doesn't matter what money gets spent on and where or that it shouldn't be discussed. they could have just bought up 700 billion dollars worth of gold for example... that wouldn't have created sustainable jobs. the issue of trying to spend 5% or so of GDP to jolt the economy is quite a bit more complex than just throwing money into the economy in any way possible.

[kane]

Originally Posted by IllTestYourGirls

This is exactly the thinking that is fucking over America.

Snake admits the school system is failing so his solution is to throw more money at it. Money fixes everything right? Why is it that Bush spent many more times Clinton did on education and it is still failing?

How about we stop funding failing schools and make it so they are REWARDED when they do well? Or allow vouchers so schools compete for parents and students? I bet you see a turn around in education system within two years with a lot LESS money needed to fund them.

Agreed. If you hired a guy to run your company and he was bankrupting it you wouldn't then go buy him a private jet so he could bankrupt it in first class.

Education is the key to the success of any country. Our system is in a downward spiral and throwing money at it won't solve the problem. They need to take a long hard look at it and determine the best ways to spend money.

I think some of it is that government employees get a sense of entitlement to their budgets. I know a bunch of people that work for various city and country government agencies and at the end of each fiscal year if they have money left over they are scrambling to find ways to spend it. When I ask them why the do that they say, "If I don't spend it, they will give me less next year." When asked if they can get the job done on less, why not take less and help the overall budget by letting a department that needs more money have your excess they look at me like I'm growing an arm out the middle of of my chest. It seems like once they get that money and have spent it they don't ever consider spending it differently. If you want them to spend money differently they want more money so they don't have to shift spending from one thing to another.

Also since it is government money they seem to act like it is not really money. I have seen guys pick up a catalog and order something that cost $200 and when they are told that they could go buy that same thing from a store for about $90 they say, "yeah, but these guys will ship it to me, I don't want to have to go to the store." I can't count how many times I have heard government employees say, "It's not my money, so I don't really care." It drives me crazy.

Until they can fix that thought process it will probably be a while before they can really get a handle on some of this rampant spending.

[IllTestYourGirls]

Originally Posted by tony404

See I think it isnt the schools failing. Now since both parents have to work to make ends meet or single mothers working all the time. There is no one who has time to have interest in their child's education. My mother was to rule with a iron fist to make sure homework and studying was done.

I agree that is a problem. But if you throw more money at the schools that means the parents need to work more to pay the taxes that is the money that is thrown at it. Just like all the spending Bush did and Obama is doing means that parents need to work more to pay taxes (not just income but the 1000s of other taxes that are always going up).

[IllTestYourGirls]

Originally Posted by Snake Doctor

Jesus, there's no mistaking why I put this idiot on ignore.

I just saw this because it was quoted by tony404
Originally Posted by IllTestYourGirls
This is exactly the thinking that is fucking over America.

Snake admits the school system is failing so his solution is to throw more money at it.

OMG are you that fucking dense?
I was making fun of someone's piss poor grammar, and made a joke about it, and you try to turn that into an argument about school vouchers?

Yeah, my jokes about people's grammar are the kind of thinking that's fucking over America.

Oy vey.

Please people, don't quote this douche bag anymore. There's a reason I have him on ignore.

Then dont post in my threads? You dont think someone is not going to quote me on a thread I started? Now that is fucking dense.

[Snake Doctor]

PP

yes it goes both ways, and if there wasn't a recession and financial crisis/panic to rival the great depression then this discussion would be different and I might be alot closer to agreeing with you than you think.

You can't pretend that the circumstances don't factor into the equation though. They couldn't allow the perfect to be the enemy of the good. You're going to be able to find fault with just about any piece of legislation or spending bill if you look hard enough.
Acting fast was as much a matter of restoring confidence as much as it was about trying to get the stimulus money into the economy as quickly as possible.

Taking time to "discuss and debate" in this instance, was just code for "give us some time to pick this apart on cable news so we can block it altogether".....which is really the same tack the republicans are trying to take on health care right now.
The whole "this isn't the right time to be passing a massive government health overhaul"...as if the republicans would ever think there was a good time for such a thing.
They just want to stall for time so they can try to find a way to shift the momentum of the debate.

Obama didn't let that happen with the stimulus and he's not going to let it happen with health care reform.

[Hawkeye]

Originally Posted by Snake Doctor

Yes dumbass, WW2 did end the depression.

Paying people to break windows and fix them again is EXACTLY what John Maynard Keynes advocated, except he used the analogy that the government should pay one group of people to dig holes and another group of people to fill them back up.

Of course, you with your MASH name and Star Trek avatar are obviously far more competent in the field of economics than John Maynard Keynes, AND all of the conservative economists who say WWII ended the depression (which is their way of trying to say the New Deal didn't work)

The depression was over way before 1946. We had full employment in this country pretty much as soon as we started building tanks and planes to send to the European and Pacific theaters.

Idiot.

Cool, so let's just draft about 1,000,000 young Americans and have another Surge in the Middle East. We'll steer production away from useful things like cars and computers and medicine and instead buy a bunch of bombs and drop them on Iranians.

Surely that will solve all of our economic problems, right?

Dumbass.

Oh, and when Keynes said the government should should pay people to dig holes and refill them, he was being fucking retarded. Nobel Prizes have been won by economists who pointed out that he was full of shit.

You seriously think we can bomb our way to prosperity? LOL Are you really this stupid? Is anybody?

[AdultSoftwareSolutions]

Originally Posted by mmcfadden

I don't even know what the numbers mean...

All I know is all my money in the market is backed by puts cuz me thinks the market is gonna crash harder then 1929

You sure you are going to be able to collect them if there is a major crash? Credit default swaps fall into the same category as puts and they didn't do much good to the people who owned them.