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Thread: Government Set to Announce Second Year of $1 Trillion-Plus Deficit

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    Government Set to Announce Second Year of $1 Trillion-Plus Deficit

    Gee, Wally I thought Obama and Biden said they were going to spend our way out of this economic disaster.

    Yeh, Beav, I guess we have to spend more faster so we can get to a $2 Trillion deficit before everything is better.

    I don't get it Wally, it seems that's just back words. Can you explain it to me huh Wally?

    Jeez Beaver do I look like the encyclopedia Britannica? I'm almost 17 and I still don't know what Dad does for living when he goes to that office with Mr. Rutherford.

    Yeh, I know Wally, Do you think Miss Landers can tell me how all this works.

    I don't know Beav. I'm not sure anybody can explain this logic.

    What is logic Wally?

    Nobody who is in charge of spending knows Beav, now go to sleep or I'm telling Dad you're still awake.

    Good night Wally.

    Good night Beaver.
    The end

    And that's what this seems like to me these days a pointless sitcom that's not really funny worth a darn, because some of know how to fix it but the idiots keep doing the opposite every damn day it seems.


    FoxNews.com - Government Set to Announce Second Year of $1 Trillion-Plus Deficit

    WASHINGTON – The Obama administration is set to report Friday that the federal budget deficit exceeded $1 trillion for the second straight year, providing critics of government spending with fresh ammunition ahead of the midterm congressional elections.

    The Congressional Budget Office is projecting that the deficit for the 2010 budget year that ended Sept. 30 will total $1.29 trillion. That's down by $125 billion from the $1.4 trillion in 2009 -- the highest deficit on record.

    Soaring deficits have become a problem for Democrats in an election year focused on the weak economy.
    Last edited by Councilman; 10-15-10 at 09:27 AM.

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    Re: Government Set to Announce Second Year of $1 Trillion-Plus Deficit

    The liberal weenies will see only this...
    The Congressional Budget Office is projecting that the deficit for the 2010 budget year that ended Sept. 30 will total $1.29 trillion. That's down by $125 billion from the $1.4 trillion in 2009.
    ...and claim a huge victory for Obama, saying he is reducing the deficit as promised.

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    Re: Government Set to Announce Second Year of $1 Trillion-Plus Deficit

    Yep, instead we should cut taxes and that will leave us with a great economy like Obama was left with. So simple a kid could understand it...

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    Re: Government Set to Announce Second Year of $1 Trillion-Plus Deficit

    Quote Originally Posted by roughdraft274 View Post
    Yep, instead we should cut taxes and that will leave us with a great economy like Obama was left with. So simple a kid could understand it...
    No, No, No, you don't get it yet. You cut taxes and spending and it short order revenues go up, unemployment goes down and the economy comes back doing just one thing will never work by itself.

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    Re: Government Set to Announce Second Year of $1 Trillion-Plus Deficit

    Quote Originally Posted by Councilman View Post
    No, No, No, you don't get it yet. You cut taxes and spending and it short order revenues go up, unemployment goes down and the economy comes back doing just one thing will never work by itself.
    Shame on you for pointing out the blatantly obvious?

    You always hear , "yeah cutting taxes will work, blah blah" from the Lib's. They always miss that oh and also CUT spending part..


    Tim-
    “When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.” - P. J. O’Rourke
    “Socialism is great until you run out of someone elses money” Margaret Thatcher

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    Re: Government Set to Announce Second Year of $1 Trillion-Plus Deficit

    This isn't new information.



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    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Government Set to Announce Second Year of $1 Trillion-Plus Deficit

    Quote Originally Posted by roughdraft274 View Post
    Yep, instead we should cut taxes and that will leave us with a great economy like Obama was left with. So simple a kid could understand it...
    At what point, in your estimation, does Obama become the owner of the US Economy? when his term is up? It's OBAMA's economy now... he's the one who has to try and fix it, regardless of who or what broke it. OR, is it above his pay grade?

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    Re: Government Set to Announce Second Year of $1 Trillion-Plus Deficit

    Quote Originally Posted by Whovian View Post
    At what point, in your estimation, does Obama become the owner of the US Economy? when his term is up? It's OBAMA's economy now... he's the one who has to try and fix it, regardless of who or what broke it. OR, is it above his pay grade?
    When does the president control it?

    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: Government Set to Announce Second Year of $1 Trillion-Plus Deficit

    Quote Originally Posted by Boo Radley View Post
    When does the president control it?
    As we've already agreed, he doesn't 'control' it. But policy can 'affect' it to a degree, either positively or negatively.

    All I ever hear from the vast majority of liberals (present company excepted) is 'It's all Bushs fault'. But if the President has little direct 'control', how can it all be 'Bush's fault'? I am simply wondering when they expect Obama to try to 'affect' the economy in a positive way.

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    Re: Government Set to Announce Second Year of $1 Trillion-Plus Deficit

    Quote Originally Posted by Whovian View Post
    As we've already agreed, he doesn't 'control' it. But policy can 'affect' it to a degree, either positively or negatively.

    All I ever hear from the vast majority of liberals (present company excepted) is 'It's all Bushs fault'. But if the President has little direct 'control', how can it all be 'Bush's fault'? I am simply wondering when they expect Obama to try to 'affect' the economy in a positive way.
    If you believe policy effects it, you have to acknowledge Bush policy. If you're blaming Obama, you would also have to blame Bush. If you believe no president controls the economy, you have to look elsewhere. While many on both sides fail to grasp this, it is important that we start understanding a lot more factors effect the economy than the president or even government as a whole can control. Perhaps we should stop looking for government to fix it.

    Just saying . . .

    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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