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Thread: White House to paint grim fiscal picture: source

  1. #11
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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by hazlnut View Post
    Seriously, Harshaw?
    Come on, man, you've taken some economics courses, right?
    Your own article answers that for you:
    Really?
    The recession, which began in December 2007, also worsened the fiscal picture by depressing government revenues while forcing up spending on unemployment benefits and other safety-net programs
    Which of these things were Bush administration policies that The Obama was forced to continue to spend money on?

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by hazlnut View Post
    Seriously, Harshaw?

    Come on, man, you've taken some economics courses, right?

    Your own article answers that for you:



    How would you strike a balance between long-term deficit reduction and dealing with unemployment?

    **tax credits to encourage business hiring (supply-side)
    **tax breaks for middle class families (Keynesian)
    **eliminate capital gains tax on small business investments (supply-side)

    Obama seems to be taking a somewhat mixed approached, moving toward center, taking some Republican tax incentive ideas while encouraging middle class consumption of goods and services.
    No recession -- or depression -- has ever required deficits of this magnitude. And look at the projections -- no lower than $700 billion and back up to a trillion by the end of the decade.

    Is unemployment going to stretch out for that long? Does Obama think it is?

    Is the recession going to last the entirety of Obama's term? Does Obama think it will?

    So, we've got you blaming unemployment spending; we've got Kandahar blaming health care costs.

    But the truth is, while we've had recessions as bad as, and worse, than this one, with unemployment as high, or higher, but we've never had deficits like this before.

    Look, I'm not blind to TARP, to the "stimulus," and so forth; I didn't agree with them, but I understand how they contributed to FY 2009's $1.3T deficit.

    But that's not an issue anymore. This is just "the budget." And it's going to stay obscene throughout the entire projected period.

    (See, too, my post in the polls where the Democrats shot down an amendment requiring the use of unused and repaid TARP funds to service the deficit.)
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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Kandahar View Post
    Oh, so you're saying everything is Obama's fault if the spending was established in previous years and Obama doesn't ELIMINATE it?
    They never required deficits of that size before now. Are you saying the total budget itself hasn't grown?


    The major reason for the explosive LONG-TERM deficits (as opposed to short-term measures like TARP/stimulus) over the next 10 years are the rising costs of entitlement spending. Social security is on a relatively manageable track; the two big culprits are Medicare and Medicaid. If we don't get the spending for those under control, any other token spending reductions will matter very little.
    Well, apparently, there is no plan to get them under control, looking at the budgetary projection over the next decade.


    Over FY 2008? Huh? Obama wasn't president in 2008, and besides, you were talking about the NEXT ten years.
    Yeah, over FY 2008, the last year with no TARP, no real "stimulus," a "regular" budget. It doesn't matter who was President when we're talking about a baseline.

    You say the massive increase is because of health care. In order for that to be true, it will have had to explode $1.2T in two years.


    When you figure out if you want to address the topic of your own thread, let me know.
    How juvenile. Being the one who created the topic, I'm pretty sure I know if I'm discussing it or not.
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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Kandahar View Post
    Evidence?
    Easy.

    They're the deficits for least year (hint: The Messiah pushed TARP and the Stimulus Porkulus, not Bush), and the deficit for this year (Hint: The Messiah is president, sort of).

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by hazlnut View Post
    How would you strike a balance between long-term deficit reduction and dealing with unemployment?
    Start by obeying the Constitution, end by cutting taxes to stimulate economic growth and shrinking government back to where it belongs.

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    Re: White House to paint grim fiscal picture: source

    At this point I'm pretty much convinced that Obama will be a one-term president. This only strengthens my conviction.

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by hazlnut View Post

    **tax credits to encourage business hiring (supply-side)
    **tax breaks for middle class families (Keynesian)
    **eliminate capital gains tax on small business investments (supply-side)

    Obama seems to be taking a somewhat mixed approached, moving toward center, taking some Republican tax incentive ideas while encouraging middle class consumption of goods and services.
    He's taken on some token supply-side ideas, but overall his approach has been overwhelmingly Keynesian.

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Dav View Post
    He's taken on some token supply-side ideas, but overall his approach has been overwhelmingly Keynesian.
    He's a "progressive", which means he's not above lying his skinny ass off to promote his agenda of elitist control of a formerly free nation.

    Smoke, and don't forget the mirrors, naturally of the circus type, are Obama's game, especially since he got his ass whupped in three elections in a row.

    The Messiah doesn't believe He can fool all the people all the time, but He does believe he can fool them until November.

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Dav View Post
    At this point I'm pretty much convinced that Obama will be a one-term president. This only strengthens my conviction.
    Well, you know, he said, not four days ago, that he'd rather be a "really good" one-term President than a mediocre two-term President.

    Balancing the budget would probably hurt him politically, particularly with his base, and he might lose them all in 2012 because of it. But it would be consistent with what he said.
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Harshaw View Post

    Balancing the budget would probably hurt him politically, particularly with his base, and he might lose them all in 2012 because of it. But it would be consistent with what he said.
    What makes you think Obama's base wouldn't want to balance the budget? Many Clinton supporters were thrilled when he and the GOP balanced the budget.

    How would it hurt Obama "politically" to balance the budget? Almost all moderates, independents, Libertarians, Blue Dog Dems and certainly conservatives want a balanced budget. How would balancing the budget be bad for Obama?
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