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the reason for deficits

It's fashionable to blame both Parties for the Cheney/Bush mess, but they had 8 years to understand the pulse of the nation, the economy, the foreign policy, and get things right. They were in way over their heads. Any accrued debt in the years required to fix their mess, is on them!

It isn't fashionable it is basic civics and accurate. Congress makes the laws and Congress appropriates the money. A President cannot spend a dime without Congressional authorization which is why Bush didn't have the authority to create the deficit you claim. The debt exploded under Obama but you want to focus on a declining DEFICIT showing you have no understanding as to the difference. One of these days that lightbulb is going to go off in that head of yours and you are going truly feel foolish. Accrued debt?? What the hell is accrued debt other than interest on the debt. Want to deduct the Interest from the Bush inherited, Obama inherited, and Trump inherited debt? Want to wage on the outcome?
 
You completely ignore the two wars started by Bush that he did not finance. Congress gave him that authority. Bush recommended tax cuts in 2003. Congress passed them. Yes Obama inherited incredibly irresponsible fiscal policy from the previous administration. He changed the way the war costs were accounted for which increased the deficits during his administration. Tax revenues were down $470 billion between 2007 and 2009. Unemployment was at 10% at its peak. The stock market dropped by 40%. I'd say the recession affected quite a few people.

Good assessment! He wears blinders, and refuses to accept the fact that Bush and Cheney were incompetent blunderers.
 
You completely ignore the two wars started by Bush that he did not finance. Congress gave him that authority. Bush recommended tax cuts in 2003. Congress passed them. Yes Obama inherited incredibly irresponsible fiscal policy from the previous administration. He changed the way the war costs were accounted for which increased the deficits during his administration. Tax revenues were down $470 billion between 2007 and 2009. Unemployment was at 10% at its peak. The stock market dropped by 40%. I'd say the recession affected quite a few people.

The two wars started were included in the deficits and debt Bush created but as usual you don't understand the budget, the deficit or appropriations. for some reason tax cuts truly bother you and I can't figure out why because there is no evidence that the federal bureaucrats will ever take higher taxes and not spend it but rather use it to pay off the debt. Stunning re-write of history you and Media are doing and totally ignoring civics. There is no such thing as inherited deficits only inherited debt which was 10.6 trillion dollars when Obama took office and NO BUSH BUDGET thus no BUSH SPENDING AUTHORITY!

The recession affected home owners and investors in the stock market, mostly paper losses. TARP recapitalized the banks and it was TARP that ended the recession. The Recession ended in June 2009 so someone has to point out what Obama did to end the recession for if he spent the 842 billion in stimulus then that is part of the 2009 deficit that is being blamed on Bush. It is also a question as to what happened with the TARP LOAN repayments in 2009, 450 BILLION DOLLARS, Recovery.org?

Those pesky things call facts always get in the way of the liberal rhetoric.
 
The Gop tax cut has a small role, but mostly it's the spending. To those who think we can 'tax ' our way of this, the chart should disabuse you of that naive notion.


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Sheesh.. another one of these "revenues don't matter to deficits.. only spending".. Bullcrap threads.
 
You win the "Most Posts" award again. Trouble is, you also win the "Least Credible" award.

So someone like you who is civics challenged has the credibility to give out credibility awards? LOL, are you this bullheaded in real life? Why are you having such a problem understanding deficits, debt, and basic civics? Deficits aren't inherited as deficits are yearly and you cannot charge all the expenses and no revenue to one President or even charge a President with any of the deficit if he doesn't have Congressional authority to spend.
 
What social spending? Social Security, Medicare are fully funded by direct payroll tax revenue and premium payments. Medicaid is one tenth of the budget but states depend on it as a revenue source. Food and housing support for the poor is a minisule amount for the budget. You can't cut your way out of these deficits. Additional revenue is the only solution.

Only SS is fully funded. Medicare runs a 300bn deficit and relies on general revenue. On top of that we spend another 600bn on other healthcare programs, and 500bn on various income security programs.

https://www.cms.gov/Research-Statis...eports/ReportsTrustFunds/Downloads/TR2018.pdf
 
Sheesh.. another one of these "revenues don't matter to deficits.. only spending".. Bullcrap threads.

You dont have to reply with rhetoric in every single one. If you want to debate, post something constructive instead of snark.
 
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The two wars started were included in the deficits and debt Bush created but as usual you don't understand the budget, the deficit or appropriations. for some reason tax cuts truly bother you and I can't figure out why because there is no evidence that the federal bureaucrats will ever take higher taxes and not spend it but rather use it to pay off the debt. Stunning re-write of history you and Media are doing and totally ignoring civics. There is no such thing as inherited deficits only inherited debt which was 10.6 trillion dollars when Obama took office and NO BUSH BUDGET thus no BUSH SPENDING AUTHORITY!

The recession affected home owners and investors in the stock market, mostly paper losses. TARP recapitalized the banks and it was TARP that ended the recession. The Recession ended in June 2009 so someone has to point out what Obama did to end the recession for if he spent the 842 billion in stimulus then that is part of the 2009 deficit that is being blamed on Bush. It is also a question as to what happened with the TARP LOAN repayments in 2009, 450 BILLION DOLLARS, Recovery.org?

Those pesky things call facts always get in the way of the liberal rhetoric.

Your derogatory references to myself and liberals are totally irrelevant to your comment and do not support your position in any way. Your comments about the two wars are not on point since all you claimed is that they were accounted for. Nevertheless they were still in progress when Obama took office as were the tax cuts, so yes he inherited their cost and your claim that only debt is inherited is without merit.

The ARRA was not spent in a lump sum. About 25% went to social services to support unemployed and hungry people. The long term cost effects are complex since it is hard to predict what the economy would have done without it and there are offsets to the direct cost in terms of growth and revenue.

https://www.cbo.gov/sites/default/files/114th-congress-2015-2016/reports/49958-ARRA.pdf

You should know that TARP repayments were to the Federal Treasury and netted a profit so one could say it reduced the deficit by that amount the years the profits were realized. (2010-2011).

What Obama may have done to end the recession is a complicated proposition. The simple fact is that when he took office the economy was in a severe recession and when he left office it was growing steadily. The opposite is true for the Bush administration. And as a point of fact the economy under Trump has continued to do well in his first years. What did he do to make that happen? Projections for quarter 3 of 2018 is a slow down of the economy. We'll see if that continues since trade wars and the rise of interest rates are causing a drag on growth.
 
Your derogatory references to myself and liberals are totally irrelevant to your comment and do not support your position in any way. Your comments about the two wars are not on point since all you claimed is that they were accounted for. Nevertheless they were still in progress when Obama took office as were the tax cuts, so yes he inherited their cost and your claim that only debt is inherited is without merit.

The ARRA was not spent in a lump sum. About 25% went to social services to support unemployed and hungry people. The long term cost effects are complex since it is hard to predict what the economy would have done without it and there are offsets to the direct cost in terms of growth and revenue.

https://www.cbo.gov/sites/default/files/114th-congress-2015-2016/reports/49958-ARRA.pdf

You should know that TARP repayments were to the Federal Treasury and netted a profit so one could say it reduced the deficit by that amount the years the profits were realized. (2010-2011).

What Obama may have done to end the recession is a complicated proposition. The simple fact is that when he took office the economy was in a severe recession and when he left office it was growing steadily. The opposite is true for the Bush administration. And as a point of fact the economy under Trump has continued to do well in his first years. What did he do to make that happen? Projections for quarter 3 of 2018 is a slow down of the economy. We'll see if that continues since trade wars and the rise of interest rates are causing a drag on growth.

What costs were there for a war that ended in November 2008 with the Status of Forces Agreement?

TARP payments netted a profit where did the entirety of those payments go?

When Obama took office we were already on the way to recovery thanks to TARP so tell me what legislation he authored that brought us out of recession? The stimulus? How did the stimulus do that when the money wasn't spent? Recovery.org?

Please stop buying what you are told and do some independent research.

You always want to buy what CBO tells you why not Treasury?? Do you know what the word ESTIMATED means?
 
What costs were there for a war that ended in November 2008 with the Status of Forces Agreement?

TARP payments netted a profit where did the entirety of those payments go?

When Obama took office we were already on the way to recovery thanks to TARP so tell me what legislation he authored that brought us out of recession? The stimulus? How did the stimulus do that when the money wasn't spent? Recovery.org?

Please stop buying what you are told and do some independent research.

You always want to buy what CBO tells you why not Treasury?? Do you know what the word ESTIMATED means?

Clearly the cost of the Iraq War did not end in 2008 nor the war in Afghanistan nor the cost of the 2003 tax cuts.

I never claimed Obama did anything to end the recession, only that the economy continuously improved during his administration.

TARP repayments went where payments to Treasury go.

The purpose of the ARRA was not only to help the economy, it was to help people in distress. Nevertheless it clearly had a benficial effect.

CBO doesn't just estimate, it analyzes raw data in an expert way. Where I can find a Treasury report that does that I will use it.
 
Clearly the cost of the Iraq War did not end in 2008 nor the war in Afghanistan nor the cost of the 2003 tax cuts.

I never claimed Obama did anything to end the recession, only that the economy continuously improved during his administration.

TARP repayments went where payments to Treasury go.

The purpose of the ARRA was not only to help the economy, it was to help people in distress. Nevertheless it clearly had a benficial effect.

CBO doesn't just estimate, it analyzes raw data in an expert way. Where I can find a Treasury report that does that I will use it.

What accounting principle taught you that people keeping more of what they earn was an expense? And since major operations ended in Iraq in November the costs of the military defense budget was lower so who did that add to the Obama deficits?

TARP repayments were recycled and spent on other Obama programs, the only thing that went to the Treasury were the interest payments not the principles. Ask Geithner?

ARRA bailed out the pubic sector and did nothing for the economy as the GDP growth and job creation showed, all actual verifiable data that is being ignored. The jobs created during the Obama term were part time jobs showing how little he understood about the U.S. economy and private sector.

If you want actual data go to Treasury.org but you prefer predictions that support your point of view

This is a fruitless argument as nothing is going to change your mind including official data but the thread topic is about deficits and if you want to understand deficits you have to understand the budget. Please post for me the Treasury data showing a reduction in revenue causing the 700Plus billion dollar deficits? What you are going to find is higher interest rates caused the interest expense to balloon and the mandated cost of living adjustments to the entitlement programs

Where you find Treasury data is at Treasury.org
 
What accounting principle taught you that people keeping more of what they earn was an expense? And since major operations ended in Iraq in November the costs of the military defense budget was lower so who did that add to the Obama deficits?

TARP repayments were recycled and spent on other Obama programs, the only thing that went to the Treasury were the interest payments not the principles. Ask Geithner?

ARRA bailed out the pubic sector and did nothing for the economy as the GDP growth and job creation showed, all actual verifiable data that is being ignored. The jobs created during the Obama term were part time jobs showing how little he understood about the U.S. economy and private sector.

If you want actual data go to Treasury.org but you prefer predictions that support your point of view

This is a fruitless argument as nothing is going to change your mind including official data but the thread topic is about deficits and if you want to understand deficits you have to understand the budget. Please post for me the Treasury data showing a reduction in revenue causing the 700Plus billion dollar deficits? What you are going to find is higher interest rates caused the interest expense to balloon and the mandated cost of living adjustments to the entitlement programs

Where you find Treasury data is at Treasury.org

You win the "Most Posts" award. You must get paid by the post.
 
You win the "Most Posts" award. You must get paid by the post.

IF accuracy and facts were required to have a post submitted here you wouldn't have a single post in this forum. Keep diverting and ignoring basic civics, accounting, history, and economics.

Take your theory to any accounting teacher and ask them about tax cuts being an expense?

Take your comments to any civics teacher and ask them if a President can spend money without Congressional approval or a budget/CR?

Ask that same teacher if deficits can be inherited and who controls the purse strings and legislative process?

No go away and run like normal vs addressing any of the issue mentioned.
 
this guy is too much. He rails and rails about the deficit and the debt yet has clue what to do about either of them. Typical conservative, lots of gnashing of teeth and hand wringing that the apocalypse is just around the corner. It must disappoint them when it never seems to happen.
 
this guy is too much. He rails and rails about the deficit and the debt yet has clue what to do about either of them. Typical conservative, lots of gnashing of teeth and hand wringing that the apocalypse is just around the corner. It must disappoint them when it never seems to happen.

unlike you who has no clue and is quiet when Obama ran up 9.3 trillion in debt and now all of sudden is concerned about the debt? Spare me the tears and the ignorance. Here's the reality, support the Trump budget and actual cuts proposed!
 
You dont have to reply with rhetoric in every single one. If you want to debate, post something constructive instead of snark.

Yawn.. okay.. revenue matters..so part of the reason that we run a deficit is because we don't tax enough to pay for what we spend.
 
Obama raised taxes and was still running trillion dollar deficits. The deficit didn't go down until they went into sequestering and basically froze all spending and cut spending back.
the problem is our government continues to spend more and more money with no reduction in government costs or revamping programs to cut back on cost.

honestly we need a full audit of every department and slam these people for embezzlement really and misuse of government funds.

So conservatives have control of the government for the past 2 years. Where are the spending cuts? Obama agreed to the sequester. That cut more spending than either Bush or Trump.
 
You will notice that you never get data from the left and nothing will ever change their mind. People keeping more of what they earn truly bothers the left as it costs them power. People keeping more of what they earn means they need the radical left less. They will always run when confronted but always come back with the same arguments over and over again normally on different threads, right out of the leftwing playbook.

Not one Democrat can offer a valid reason to support a Democrat in the Midterms as Trump isn't on the ballot but his economic policies and record is. When asked to explain what in that record bothers the left you get nothing but threads like this one blaming tax cuts for deficits when there were 4 straight years of trillion dollar deficits under Obama. They have nothing but hatred, divisiveness, class envy, jealousy and stand for nothing other than creating more dependence and giving the bureaucrats in D.C. more money to spend taking it from the states and local communities

Seeing as the standard for the democratic party for a while now, has been to take what others have and give it to everyone else.

I feel that agreeing with you is definitely in order.
 
Yawn.. okay.. revenue matters..so part of the reason that we run a deficit is because we don't tax enough to pay for what we spend.

Sure thats one way of looking at it. But would you rather pay more or spend less? I mean, if the bottom 50% who are only paying 3% of income tax want to actually pay for the services they are receiving, I would be ok with that.

Personally I think 3 trillion is more than enough to fund the govt.
 
So conservatives have control of the government for the past 2 years. Where are the spending cuts? Obama agreed to the sequester. That cut more spending than either Bush or Trump.

I have stated and continue to state it is time to truly change the swamp getting rid of career politicians and enacting term limits. The issue on the debt continues to be that raises taxes will never guarantee that the Congress will cut spending and reduce the debt. Will never understand the fixation by you and the left on raising taxes knowing that the bureaucrats will always spend the money and higher taxes means less money for the states and local governments.

Not one Progressive has given any number to what percentage of income should go to federal, state, and local taxes and not one person has explained how higher federal income taxes impacts other revenue streams including state sales taxes. Do you want to be the first to answer?
 
You win the "Most Posts" award. You must get paid by the post.

It does appear that as usual you run from the tough questions and answers given totally ignoring basic civics and official federal data always buying leftwing opinions that tell you what you want to hear.

There is no such thing as an inherited deficit, there is inherited debt

The President cannot spend a dime without Congressional Approval

Federal Data from Treasury is what we pay debt service on not CBO numbers

Federal Income tax cuts have not reduced the revenue even close to enough to cause the deficit we have and by the end of fiscal year 2018 FIT revenue will exceed 2017

Deficits for 2018 are mostly due to rising interest payments due to increases in interest rates and mandatory entitlement spending increases

Trump has proposed a 2019 budget with actual spending cuts

Obama is out of office as is Bush but there was NO Bush budget for 2009 and Obama did run 4 straight years of trillion dollar deficits

Then there is this regarding Trump

https://www.wsj.com/articles/the-real-reason-they-hate-trump-1540148467
 
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