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Thread: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

  1. #31
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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by Grim17 View Post
    If you are a democrat voter, a democrat supporter or Obama supporter, I wouldn't broadcast that if I were you... Because by doing so, you are saying that this is what 4 and a half years of recovery looks like to Obama and the democrats.
    The facts are what they are. The recession ended 4 and a half years ago. Recovery has been sluggish, yet proportional to the peak to trough losses experienced during the downturn.

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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by a351 View Post
    The facts are what they are. The recession ended 4 and a half years ago. Recovery has been sluggish, yet proportional to the peak to trough losses experienced during the downturn.
    Sluggish? It's been a joke.

    The national debt has jumped by over $6 trillion. The Fed balance sheet is over $4 trillion. That is $10 trillion dollars of debt being pumped directly/indirectly into the economy. That is approximately 10% of the average yearly GDP EVERY YEAR. With that much 'free' money added - the economy should be booming. Add in the record low interest rates for that ENTIRE time and the economy should be absolutely skyrocketing.

    But it's not...it's barely moving (except the stock market - which the Fed is indirectly propping up). Even the unemployment rate is ONLY where it is because people are leaving the work force. The U-3 is such a joke that the Fed recently decided to ignore it's previous 6.5% U-3 level as an indicator when it would let interest rates rise again.

    If $10 TRILLION dollars thrown at the economy PLUS record low interest rates for the entire time Obama was in office is required just to fuel a semi-stagnating economy - with the rich growing richer every day and the wage gap skyrocketing - then what on Earth will happen when these artificial crutches are removed?

    I know - the patient will collapse to the floor in a heap...and the country will still have massive debt to show for it.


    And please save the 'yes, but things would be much worse had we done nothing' nonsense.

    You have ABSOLUTELY ZERO unbiased, factual proof that America would not be FAR better off now had the economy been left to sort itself out.

    And considering almost every single recession in U.S. history (including the 1920/21 depression) ended without any appreciable government assistance, I say America would be FAR better off had Bush/Obama/Fed just butted out.


    The American economy is a joke - being propped up (like Japan and much of the EU) on cheap debt. And it will eventually collapse, imo.

    And both Obama AND Bush are responsible for this mess...Bush for racking up huge deficits and starting the nonsensical 'low income housing program' which directly led to the boom/collapse (along with the Fed's help - which Bush approved of); and Obama for doing most of the massively stupid things Bush did...only more of them.

  3. #33
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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by polgara View Post
    Greetings, tres borrachos.

    : I read that there are something like 22 new taxes connected with the ACA heading our way. Whether he said he's not "raising existing taxes," but instead he will be instituting new taxes that we haven't had to pay before, the end result is the same - we will soon be paying more in taxes than we did before! Period!
    Happy Saturday Polgara!

    Anyone who thought Obama was going to be a trendsetter as a Liberal and not raise taxes was sorely mistaken.

  4. #34
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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by a351 View Post
    Keep in mind that the CBO has also proven to
    be overly bearish in terms of deficit and revenue projections in recent years.



    The recession ended four and a half years ago.
    Did it ?

    7 Trillion in new debt and a 2 percent GDP with millions more dependent is what to you ?

    A "recovery " ??

  5. #35
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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by Fenton View Post
    Did it ?

    7 Trillion in new debt and a 2 percent GDP with millions more dependent is what to you ?

    A "recovery " ??
    2 percent growth is a recession to you? Does the definition of recede mean anything to you?

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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by Fenton View Post
    Did it ?

    7 Trillion in new debt and a 2 percent GDP with millions more dependent is what to you ?

    A "recovery " ??
    Quote Originally Posted by a351 View Post
    2 percent growth is a recession to you? Does the definition of recede mean anything to you?
    How horrible are Obama's policies if Trillions in new debt cant manage more than 2 percent "growth" ???

    Its evident that the Keynesians have no clue of how to spur real economic growth.

    Really, a UNPRECEDENTED amount of stimulus, both from the FED and from Obama has only served to perpetuate whats a essentially a stagant economy.

    Oh, and build up the new dependent class as the rich get richer.

    Not much to brag about if your Obama supporter.

  7. #37
    The Dude
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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by Fenton View Post
    How horrible are Obama's policies if Trillions in new debt cant manage more than 2 percent "growth" ???

    Its evident that the Keynesians have no clue of how to spur real economic growth.

    Really, a UNPRECEDENTED amount of stimulus, both from the FED and from Obama has only served to perpetuate whats a essentially a stagant economy.

    Oh, and build up the new dependent class as the rich get richer.

    Not much to brag about if your Obama supporter.
    While your horse-apple conservative platitudes are wonderful, they're completely irrelevant to the topic. You don't get to define what constitutes a recession. Economists do. And by the criteria established by people who actually know economics (PROTIP: that's not you), the recession ended in 2009. Which is the opposite of what you claimed. Has it been a strong recovery? No. I don't know ANYONE who has claimed it has been.

    Fenton, you're wrong. Again.
    Freedom of speech is not freedom from criticism.

  8. #38
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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by Fenton View Post
    Did it ?

    7 Trillion in new debt and a 2 percent GDP with millions more dependent is what to you ?

    A "recovery " ??
    Quote Originally Posted by Kobie View Post
    While your horse-apple conservative platitudes are wonderful, they're completely irrelevant to the topic. You don't get to define what constitutes a recession. Economists do. And by the criteria established by people who actually know economics (PROTIP: that's not you), the recession ended in 2009. Which is the opposite of what you claimed. Has it been a strong recovery? No. I don't know ANYONE who has claimed it has been.

    Fenton, you're wrong. Again.
    I'm NEVER wrong .

    And what " economist "are you refering to ?

  9. #39
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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by Fenton View Post
    I'm NEVER wrong .
    LOL.
    Freedom of speech is not freedom from criticism.

  10. #40
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    Re: CBO Report Finds Obama Budget Will Result In Larger Deficits Than Claimed

    Quote Originally Posted by Kobie View Post
    LOL.
    Dunning

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