Obama warns about years of trillion-dollar deficits

Goobieman · 01-07-09, 11:13 AM

Quote:

Obama warns about years of trillion-dollar deficits

WASHINGTON: President-elect Barack Obama on Tuesday braced Americans for the unparalleled prospect of "trillion-dollar deficits for years to come," a stark assessment of the budgetary outlook that he said would force his administration to impose tighter fiscal discipline on the government.

Obama sought to distinguish between the need to run what is likely to be record-setting deficits for several years and the necessity to begin bringing them down markedly in subsequent years. Even as he prepares a stimulus plan that is expected to total nearly $800 billion in new spending and tax cuts over the next two years, he said he would make sure the money was wisely spent, and he pledged to work with Congress to enact spending controls and efficiency measures throughout the federal budget.

Obama warns about years of trillion-dollar deficits - International Herald Tribune

I see the lowering of expectations continues...

Of course, what you don't hear is that, with the Dems in complete control of the process, there's no reason whatsoever the FY2010-2015 budgets cannot have $0 in deficits.

But then, the Dems will come up with plenty of ways to excuse it, so...

Phoenix · 01-07-09, 11:18 AM

Listen to Rush Limbaugh much?

Iriemon · 01-07-09, 11:24 AM

I get a kick out of how conservatives, who generally sat mum while the Bush administration slashed taxes and ran up $5 trillion in debt, are now of a suddent deciding they are budget hawks now that a Dem is in charge.

Short term deficit spending in the midst of a contraction makes arguable sense. I disagree with Obama that it should require huge deficits for years to come.

JMak · 01-07-09, 11:32 AM

So, wait a second...

Obama warns of continuing trillion dollar deficits, but then says that this "would force his administration to impose tighter fiscal discipline on the government."

So is Obama saying that the prospect of such deficits will force the government to impose tighter fiscal discipline...but just not enough to avoid this prospect coming to fruition?

So he's basically saying nothing at all then, right?

More, "Even as he prepares a stimulus plan that is expected to total nearly $800 billion in new spending and tax cuts over the next two years, he said he would make sure" that there'd be no effort to prevent these so-called "temporary" spending programs from turning into never-ending spending programs.

Got it.

And Ireimon, exactly which conservatives are you saying were mum? Certainly not those in Congress. Not those at National Review and The Weekly Standard. Not those pundits who are published at Town Hall. Not Rush, Hannity, or Coulter.

Who the hell are you referring to?

Phoenix · 01-07-09, 11:33 AM

Even the most diehard Bush fans I have come across criticize him over his spending habits.

Reverend_Hellh0und · 01-07-09, 11:34 AM

Quote:

Originally Posted by JMak

Who the hell are you referring to?

He has no clue.

Goobieman · 01-07-09, 11:36 AM

Quote:

Originally Posted by JMak

And Ireimon, exactly which conservatives are you saying were mum? Certainly not those in Congress. Not those at National Review and The Weekly Standard. Not those pundits who are published at Town Hall. Not Rush, Hannity, or Coulter.

Who the hell are you referring to?

Ireimon willfully confuses "conservatives" with "Republicans".

Iriemon · 01-07-09, 11:36 AM

Here's one:

"You know, Paul, Reagan proved deficits don't matter" The Vice President.

American · 01-07-09, 11:38 AM

Quote:

Originally Posted by Phoenix

Listen to Rush Limbaugh much?

Your point?

Phoenix · 01-07-09, 11:42 AM

Quote:

Originally Posted by American

Your point?

None really. I just found it amusing. Mere minutes after hearing it on Rush, it gets posted here.
Rush took credit for being the only one to pick up on Obama admitting his economic recovery program wouldn't work based on these statements!

01-07-09, 11:18 AM	#2
Phoenix Advisor Join Date: Jan 2008 Last Online: 06-27-09 07:55 AM Location: South Carolina Posts: 348 Thanks: 75 Thanked 93 Times in 74 Posts Lean: Libertarian Gender:	Re: Obama warns about years of trillion-dollar deficits Listen to Rush Limbaugh much?
	__________________ Madoff for Social Security Administration commissioner

01-07-09, 11:24 AM	#3
Iriemon Banned Join Date: Aug 2005 Last Online: 01-26-09 09:03 AM Location: Miami Posts: 19,490 Thanks: 1,415 Thanked 2,206 Times in 1,511 Posts	Re: Obama warns about years of trillion-dollar deficits I get a kick out of how conservatives, who generally sat mum while the Bush administration slashed taxes and ran up $5 trillion in debt, are now of a suddent deciding they are budget hawks now that a Dem is in charge. Short term deficit spending in the midst of a contraction makes arguable sense. I disagree with Obama that it should require huge deficits for years to come.

01-07-09, 11:32 AM	#4
JMak Professor Join Date: Sep 2008 Last Online: 02-13-09 03:15 PM Posts: 1,942 Thanks: 41 Thanked 570 Times in 413 Posts Lean: Conservative	Re: Obama warns about years of trillion-dollar deficits So, wait a second... Obama warns of continuing trillion dollar deficits, but then says that this "would force his administration to impose tighter fiscal discipline on the government." So is Obama saying that the prospect of such deficits will force the government to impose tighter fiscal discipline...but just not enough to avoid this prospect coming to fruition? So he's basically saying nothing at all then, right? More, "Even as he prepares a stimulus plan that is expected to total nearly $800 billion in new spending and tax cuts over the next two years, he said he would make sure" that there'd be no effort to prevent these so-called "temporary" spending programs from turning into never-ending spending programs. Got it. And Ireimon, exactly which conservatives are you saying were mum? Certainly not those in Congress. Not those at National Review and The Weekly Standard. Not those pundits who are published at Town Hall. Not Rush, Hannity, or Coulter. Who the hell are you referring to?

01-07-09, 11:33 AM	#5
Phoenix Advisor Join Date: Jan 2008 Last Online: 06-27-09 07:55 AM Location: South Carolina Posts: 348 Thanks: 75 Thanked 93 Times in 74 Posts Lean: Libertarian Gender:	Re: Obama warns about years of trillion-dollar deficits Even the most diehard Bush fans I have come across criticize him over his spending habits.
	__________________ Madoff for Social Security Administration commissioner

01-07-09, 11:36 AM	#8
Iriemon Banned Join Date: Aug 2005 Last Online: 01-26-09 09:03 AM Location: Miami Posts: 19,490 Thanks: 1,415 Thanked 2,206 Times in 1,511 Posts	Re: Obama warns about years of trillion-dollar deficits Here's one: "You know, Paul, Reagan proved deficits don't matter" The Vice President.

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