But, yes, I believe that Obama and the liberals care because now, thanks to the affordable care act, I can stay on my parents health plan until 26, which gives my parents that little extra bit of money they need, not only to send me to the school of my dreams, but send my little brother to college as well!
Last edited by Old English; 10-07-13 at 04:05 PM.
Fiscal Year 2009 Was More Than One-Fourth Over Before Obama Even Took Office. The federal government's fiscal year begins on October 1, ends on September 30, and is designated by the year in which it ends. Therefore, the 2009 fiscal year began on October 1, 2008, more than three months before Obama's inauguration on January 20, 2009. [U.S. Senate, accessed 5/25/12]
Bush Signed A Fiscal Year 2009 Appropriations Bill That Included More Than $600 Billion In Spending. In September 2008, Bush signed H.R. 2638, a bill that consolidated three of the 12 annual appropriations bills and provided more than $600 billion in spending, including $487.7 billion for the Defense Department, $40 billion for the Department of Homeland Security, and $72.9 billion for military construction and Veterans Affairs. [H.R. 2638, 9/30/08]
Bush Signed Appropriations For The Rest Of The Government That Covered Almost Half Of The 2009 Fiscal Year. H.R. 2638 included appropriations for the rest of the federal government from October 1, 2008, through March 6, 2009, more than five months of the 2009 fiscal year. [H.R. 2638, 9/30/08]
Without Counting TARP, Other Bailouts, And Other Emergency Spending, Bush Had Proposed To Spend $3.1 Trillion In 2009. From the Ludwig von Mises Institute:
The federal fiscal year lasts from October 1 to September 30 (It ended on June 30 prior to 1976). So, the 2009 fiscal year ended in September of 2009, eight months after Bush left office. When Obama was sworn into office, Bush had already submitted his 3.1 trillion dollar 2009 budget almost a year earlier. He then signed the stack of resulting appropriations bills submitted to him by Congress throughout 2008 which authorized the federal spending that would take place once the 2009 FY actually began in October. Then, in the fall of 2008, Bush supported and signed additional spending bills providing for various bailouts and stimulus programs that marked the end of his presidency, and which would show up as spending in 2009. Needless to say, the already-enormous 2009 budget that Bush had submitted in early 2008 was not totally reflective of the full impact of the huge spending increases that would eventually be authorized by Bush. Bush's original budget was $3.1 trillion, but once one adds in all the bailouts and stimulus spending also supported by Bush, the number is actually much larger, and this is the number that shows up in the spending figures now being attributed to Obama for FY2009. [Ludwig von Mises Institute, 3/21/11]
Bush's FY 2009 Budget Also Did Not Include Funding For the Afghanistan And Iraq Wars. Bush's budget requested only $70 billion for "activities related to the Global War on Terror." Rather than include a number for Afghanistan and Iraq, the budget stated: "The Administration will request additional funding once the specific needs of our troops are better known." [White House FY 2009 Department of Defense budget, 2/4/08]
Based On Policies Enacted Before Obama Came Into Office, CBO Had Already Projected A $1.2 Trillion Deficit For 2009. In a budget report released on January 7, 2009, the Congressional Budget Office (CBO) stated, "The ongoing turmoil in the housing and financial markets has taken a major toll on the federal budget. CBO currently projects that the deficit this year will total $1.2 trillion, or 8.3 percent of GDP." CBO further stated, "A drop in tax revenues and increased federal spending (much of it related to the government's actions to address the crisis in the housing and financial markets) both contribute to the robust growth in this year's deficit. Compared with receipts last year, collections from corporate income taxes are anticipated to decline by 27 percent and individual income taxes by 8 percent; in normal economic conditions, they would both grow by several percentage points. In addition, the estimated deficit includes outlays of more than $180 billion to reflect the cost of transactions of the TARP." [Congressional Budget Office, 1/7/09]
MarketWatch Column On Obama's Spending Restraint Stands Up To Attacks | Research | Media Matters for America
What default? Why do you buy what Obama tells you? What is preventing the Federal Govt. from paying debt service on the debt with the income coming in monthly from the taxpayers? We a 17 trillion dollar debt or didn't you know that? I think you are naïve, gullible, and poorly informed so we are at an impasse. Both of us have different opinions.
Do you realize that actual proposals and actual spending are two different things?
Had we spent the 3.1 trillion dollars, had we credited TARP Repayment, we wouldn't have had a 1.4 trillion dollar deficitWithout Counting TARP, Other Bailouts, And Other Emergency Spending, Bush Had Proposed To Spend $3.1 Trillion In 2009. From the Ludwig von Mises Institute: