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Thread: WHitehouse: Obama to lay out Spending Plan

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    Re: WHitehouse: Obama to lay out Spending Plan

    Quote Originally Posted by USA_1 View Post
    Bush was the most expensive president ever. He doubled the debt while driving the economy into the ground for the next president.
    bush was only the most expensive president yet. by the end of this fiscal year Obama will have added just as much to the debt in 3 years as Bush did in 8.

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    Re: WHitehouse: Obama to lay out Spending Plan

    Quote Originally Posted by washunut View Post
    Let's remember that Bernanke is only one member of this evil team. If Geithner and Obama were not producing deficits of 100 billion a month, Bernanke would not been monetarizing it.
    precisely. the Fed is the only domestic buyer of our debt at this point, and our foriegn purchasers are rapidly shifting from long term to short term securities. Bernanke is an enabler, but he's not the problem.

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    Re: WHitehouse: Obama to lay out Spending Plan

    Quote Originally Posted by cpwill View Post
    bush was only the most expensive president yet. by the end of this fiscal year Obama will have added just as much to the debt in 3 years as Bush did in 8.
    You know why? Because the economy collapsed at the end of Bush's presidency. Bush added debt while the economy was thriving during the housing boom. Obamas debt is due to loss of revenue due to Bush's recession. Obamas budget for 2010 was only 10% more than Bush's 2009 budget.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: WHitehouse: Obama to lay out Spending Plan

    so barack the slasher hussein is gonna address the nation tomorrow nite to try to convince the american electorate that he's suddenly transformed himself into paul ryan lite

    he's counting on a collective amnesia that he's just not gonna find, neither inside the beltway nor without

    americans remember how he promised to cut the deficit in half in 4 years mere weeks before jamming his near trillion dollar stimulus (a word he can no longer pronounce) thru the congress his party dominated

    unfortunately, a year and a half later he had to confess to nymag that he'd suddenly discovered that in reality there's no such thing as a shovel ready job

    and his projection that unemployment would cap at 8% proved equally empty

    his 2012 budget released in february actually raises borrowing 20%, it also lacks the courage and leadership and vision required to address the entitlements that are careening us off the cliff

    he's gonna mumble some mixed messages about medicare and medicaid, but he's already shot his wad---it's called obamacare

    his ahab-like obsession with his radical redrawing of 1/6 of our economy, passed via senate reconciliation, is responsible for his party's failure even to propose a budget for 2011

    evidently, the budget was simply not a priority

    as a senator he voted against raising the debt ceiling, insisting to continue borrowing was irresponsible and demonstrative of a lack of leadership

    tomorrow he's gonna try to put tax hikes back on the table but it was only weeks ago he signed the bush/clinton/obama/boehner/mcconnell tax cuts into law

    and, of course, as always, we can anticipate the slasher's unyielding commitment to his grail---investments---in the fabulous four now famous, education, student loans, the color green and infrastructure

    meanwhile, it is apparent that what is responsible for his impromptu reversal is the publication of ryan's program and the seriousness of the minor party to take responsible steps towards fiscal balance

    President Obama's two minds on the deficit - Glenn Thrush and Carrie Budoff Brown and David Nather - POLITICO.com

    leadership, anyone?
    Last edited by The Prof; 04-12-11 at 12:07 PM.

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    Re: WHitehouse: Obama to lay out Spending Plan

    Quote Originally Posted by Badmutha View Post
    I dont believe that.....it is a liberal belief that Presidents are all powerfull all controlling Gawds. They arent.....albeit Kenyan Presidents seem to to be hell bent on changing that.
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    That's ridiculous. Both sides too often want credit when the economy goes well. It is hardly limited to just one party.

    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: WHitehouse: Obama to lay out Spending Plan

    Quote Originally Posted by Boo Radley View Post
    That's ridiculous. Both sides too often want credit when the economy goes well. It is hardly limited to just one party.
    No, I would say about 90% of the time on this forum when liberals are reminded of the mess Obama has us in right now, they immediately attack Bush. But their argument falls apart when they are reminded that it isn't the president, but congress, with the purse strings. When they speak of the economy having collapsed at the end of the Bush term that congress was controlled by democrats for the last two years, they don't want to talk about that anymore.

    But when reminded that when we apply the same reasoning to Obama and his supermajority for the first 2 years of his presidency, we see that only one thing remains common between the Bush and Obama recessions, a democratically controlled congress.

    THATS what the left on this site wants to try to steer you away from.
    Last edited by dontworrybehappy; 04-12-11 at 02:08 PM.

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    Re: WHitehouse: Obama to lay out Spending Plan

    Quote Originally Posted by dontworrybehappy View Post
    No, I would say about 90% of the time on this forum when liberals are reminded of the mess Obama has us in right now, they immediately attack Bush. But their argument falls apart when they are reminded that it isn't the president, but congress, with the purse strings and when they speak of the economy having collapsed at the end of the Bush term that congress was controlled by democrats for the last two years, they don't want to talk about that anymore.

    . .
    The housing sector started collapsing in 2006 and the recession began Dec 2007. Pretty hard to blame the democrats when it all came crashing down before they even took power. It really amazes me how some give Bush a pass when his homeownership policies had a direct effect on the housing bubble.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: WHitehouse: Obama to lay out Spending Plan

    Quote Originally Posted by cpwill View Post
    precisely. the Fed is the only domestic buyer of our debt at this point, and our foriegn purchasers are rapidly shifting from long term to short term securities. Bernanke is an enabler, but he's not the problem.
    The one place I would disagree with the above is that if Bernanke did not enable this behviour the government would be made to change direction. This is a team effort.

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    Re: WHitehouse: Obama to lay out Spending Plan

    Quote Originally Posted by dontworrybehappy View Post
    No, I would say about 90% of the time on this forum when liberals are reminded of the mess Obama has us in right now, they immediately attack Bush. But their argument falls apart when they are reminded that it isn't the president, but congress, with the purse strings. When they speak of the economy having collapsed at the end of the Bush term that congress was controlled by democrats for the last two years, they don't want to talk about that anymore.

    But when reminded that when we apply the same reasoning to Obama and his supermajority for the first 2 years of his presidency, we see that only one thing remains common between the Bush and Obama recessions, a democratically controlled congress.

    THATS what the left on this site wants to try to steer you away from.
    Neither control the economy. If they did, it would always be good. Both sides want to blame the other. And we see this on this forum. It is silly to blame "the left," whoever they are, or "the right," whoever they are.

    Now the deficit is another issue, but once again, both parties are to blame. No one can claim it was only the other party. And neither is willing to do what should be done. But to blame just them is to ignore our role. We want our cake and to eat it too. Just like with health care where we support benefits like doing away with preexisting conditions, but don't want any method that would pay o for it, we present a voting public that suffers from a disconnect to say the least.

    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: WHitehouse: Obama to lay out Spending Plan

    Quote Originally Posted by Boo Radley View Post

    Now the deficit is another issue, but once again, both parties are to blame. No one can claim it was only the other party. And neither is willing to do what should be done. But to blame just them is to ignore our role. We want our cake and to eat it too. Just like with health care where we support benefits like doing away with preexisting conditions, but don't want any method that would pay o for it, we present a voting public that suffers from a disconnect to say the least.
    I repect your posts but have to take exception to the view that both parties are equally to vlame for deficits. I too feel that both parties becuase they are so rigid on extreme policies make it virtually impossible to get to a balanced busget. Thus it is a matter of degree.

    For the last thirty plus years we have run deficits mainly in the three percent range. Many economists will say, that while this is not great, it is not very hamful to have deficits that run pretty clse to GDP growth. We had a small respite in the late 90s as we had a great economy due to the tech eplosion and a lot of revenues due to the tech bubble.

    We are now in the third year of running a deficit around 9% of GDP. A clearly unsustainable level. Plus we got a 10 year budget from the president that does not materially lower that percent at all. Sure we can argue that we need some short term spending to get us out of recession. Which BTW economists say we have been out of since 2009. Unemployment is a problem, but how much umemployment is due to slow housing starts, which will not be fixed by repaving roads.

    Sites like these seem to prove to me that very few americans understand much about economics thus get politicians who know little about it but give great speeches. Not sure what the answer is. My first thought is that democracies like ours can not continue to be world economic powers for long, Europe being a good example.

    So perhaps a better debate would be how and where to protect your assets for you and your children.

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