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Thread: United States loses its AAA Credit rating from S & P

  1. #2021
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    My point was that CBO had no idea what the cost of the stimulus would be, how much of the TARP would be repaid, how much the GM/Chrysler takeover would be, or what supplementals Obama would have. You want to charge Obama with 200 billion of the 2009 deficit? How generous of you and how wrong. Why would Bush be charged for the full TARP spending when he didn't spend it all and then received no credit for the payback? Think, Boo, I know you can do it
    Again, care to link anything you care to link, and we'll look at it. But so far, the facts do not support you.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Boo Radley View Post
    Again, care to link anything you care to link, and we'll look at it. But so far, the facts do not support you.
    Bush's Budget Projects Deficits

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    Re: United States loses its AAA Credit rating from S & P

    Boo loves to use factcheck.org. But those of us on the conservative side of the isle have known for some time now the bias that lingers in that organization. As far back as 2008 when the bias was exposed....

    The ANNENBERG Public Policy Center at the University of Pennsylvania is the organization behind the FactCheck.org website that is being consulted OFTEN by voters and media personalities alike to help them form opinions on the “truthfulness” of the claims being made by the McCain and Obama political ads as well as statements made on the Campaign Trail and in Presidential and Vice Presidential debates.

    Kathleen Hall Jamieson, Ph.D. is the Director of the ANNENBERG Public Policy Center at the University of Pennsylvania which is the organization BEHIND the FactCheck.org “truthfulness” website.

    Dr. Jamieson's newest book entitled “Echo Chamber: Rush Limbaugh and the Conservative Media Establishment” is a MAJOR HIT PIECE against the Conservative voices in the media on television, radio, and in print. View the book’s Table of Contents: Echo Chamber: Rush Limbaugh and the Conservative Media Establishment
    Why we as conservatives argue points made in such a disingenuous manner as to point to this biased crap as objective is beyond me.

    j-mac
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    Your link:

    Lawmakers said they are unlikely to go along with much of the president's final-year agenda, and Bush's plan omits several costly features, including tens of billions of dollars of the cost of the wars in Iraq and Afghanistan, that could drive the deficit even higher than the president's estimates. That would effectively delay until 2009 decisions on how to cope with short- and long-term financial problems, lawmakers and others said.

    and

    "A whole bunch of things they were putting off and hiding under the rug all these years are starting to pop back up," said Austan Goolsbee, an economist at the University of Chicago and chief economic adviser to Sen. Barack Obama (D-Ill.). "It's clear they're trying to shove as much of this as possible on to the next guy."

    So this isn't even the actual budget we're discussing. This is his first proposal.

    However, You seem to rate Bush's view of his budget over the CBO's, So I wonder why?

    Dispute this:

    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.

    And

    The large difference on the 10-year projection has to do with Bush administration tax cuts. The CBO creates its estimates based on current law, which means the CBO assumes that the Bush tax cuts will end in 2010 and everyone will start paying higher taxes in 2011 and going forward. The Obama administration, on the other hand, assumed in its baseline that those tax cuts would be renewed.

    PolitiFact | Obama inherited deficits from Bush administration

    The point is, the project was different than the Bush claim.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by j-mac View Post
    Boo loves to use factcheck.org. But those of us on the conservative side of the isle have known for some time now the bias that lingers in that organization. As far back as 2008 when the bias was exposed....



    Why we as conservatives argue points made in such a disingenuous manner as to point to this biased crap as objective is beyond me.

    j-mac
    This what I mean J, you think facts have a liberal bias. they don't of course, but this is again you seeking to avoid addressing the facts. it has been a common tactic for far too many for far too long.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Boo Radley View Post
    Your link:

    Lawmakers said they are unlikely to go along with much of the president's final-year agenda, and Bush's plan omits several costly features, including tens of billions of dollars of the cost of the wars in Iraq and Afghanistan, that could drive the deficit even higher than the president's estimates. That would effectively delay until 2009 decisions on how to cope with short- and long-term financial problems, lawmakers and others said.

    and

    "A whole bunch of things they were putting off and hiding under the rug all these years are starting to pop back up," said Austan Goolsbee, an economist at the University of Chicago and chief economic adviser to Sen. Barack Obama (D-Ill.). "It's clear they're trying to shove as much of this as possible on to the next guy."

    So this isn't even the actual budget we're discussing. This is his first proposal.

    However, You seem to rate Bush's view of his budget over the CBO's, So I wonder why?

    Dispute this:

    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.

    And

    The large difference on the 10-year projection has to do with Bush administration tax cuts. The CBO creates its estimates based on current law, which means the CBO assumes that the Bush tax cuts will end in 2010 and everyone will start paying higher taxes in 2011 and going forward. The Obama administration, on the other hand, assumed in its baseline that those tax cuts would be renewed.

    PolitiFact | Obama inherited deficits from Bush administration

    The point is, the project was different than the Bush claim.
    What? You mean the Bush budget wouldn't be accepted by the Democrat controlled Congress? How can that be? What exactly did the Democrat Controlled Congress accept? You want badly to buy the CBO numbers when as pointed out CBO didn't know what the stimulus would cost, didn't know how much of the 350 billion TARP money left to Obama would be spent by Obama, or what supplementals Obama would ask for. Amazing how Bush in 3 plus months generated a 1.2 trillion dollar deficit and how hard Obama tried not to spend that money. Keep spinning and ignoring reality. When you get off 2009 please let me know how Bush created the 2010-2011 budget deficits which total about 3 trillion

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    The point isn't what Bush proposed in his budget, but rather the SPENDING that Bush actually locked in that Obama could not avoid. And THAT spending resulted in a trillion+ deficit before Obama could lift a finger to address his own policy goals.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Boo Radley View Post
    This what I mean J, you think facts have a liberal bias. they don't of course, but this is again you seeking to avoid addressing the facts. it has been a common tactic for far too many for far too long.
    Probably because it is not facts that these people are pushing as much as a narrative.

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    What? You mean the Bush budget wouldn't be accepted by the Democrat controlled Congress? How can that be? What exactly did the Democrat Controlled Congress accept? You want badly to buy the CBO numbers when as pointed out CBO didn't know what the stimulus would cost, didn't know how much of the 350 billion TARP money left to Obama would be spent by Obama, or what supplementals Obama would ask for. Amazing how Bush in 3 plus months generated a 1.2 trillion dollar deficit and how hard Obama tried not to spend that money. Keep spinning and ignoring reality. When you get off 2009 please let me know how Bush created the 2010-2011 budget deficits which total about 3 trillion
    Again:

    WASHINGTON (AP) - The federal budget deficit will hit an unparalleled $1.2 trillion for the 2009 budget year, according to a Capitol Hill aide briefed on new Congressional Budget Office figures.

    The aide says the CBO also sees a $703 billion deficit for 2010.

    The dismal figures come a day after President-elect Barack Obama warned of "trillion-dollar deficits for years to come."

    2009 budget deficit is estimated at $1.2 trillion

    Before Obama took office. Before he did anything.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by j-mac View Post
    Probably because it is not facts that these people are pushing as much as a narrative.

    j-mac
    J, it's not a narrative, it is merely the facts. You guys are the ones providing narrative.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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