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“If the current laws that govern federal taxes and spending do not change, the budget deficit will shrink this year to $642 billion”
http://www.cbo.gov/sites/default/files/cbofiles/attachments/44172-Baseline2.pdf
wait! what?!? 642 billion? That is less than half of Bush's 1.4 trillion dollar budget deficit. So the pubs are threatening to destroy the economy with default not to reduce the deficit but to reduce it faster? But deficit reduction was their back up excuse to destroy the economy with default. Their first excuse to destroy the economy with default was to defund Obamacare. Well I guess Obamacare cant be that bad if they had to go to their back up excuse.
So, President Obama has reduced the deficit every year and maintained positive GDP and pubs are not happy? mmmm, that just doesn't make any sense. Lets look at Bush's last budget with President Obama's first four as a % of GDP.
Fiscal year_______2009___2010___2011___2012___ 2013(est)
Total Revenues___ 15.1____15.1___ 15.4___ 15.8___16.9
Total Outlays_____ 25.2____24.1___ 24.1___ 22.8___22.2
Can someone explain why those numbers are worth pubs threatening to destroy the economy with default? remembering of course that President Obama maintained positive GDP which greatly helped with reducing the Bush Deficits.
http://www.cbo.gov/sites/default/files/cbofiles/attachments/44172-Baseline2.pdf
wait! what?!? 642 billion? That is less than half of Bush's 1.4 trillion dollar budget deficit. So the pubs are threatening to destroy the economy with default not to reduce the deficit but to reduce it faster? But deficit reduction was their back up excuse to destroy the economy with default. Their first excuse to destroy the economy with default was to defund Obamacare. Well I guess Obamacare cant be that bad if they had to go to their back up excuse.
So, President Obama has reduced the deficit every year and maintained positive GDP and pubs are not happy? mmmm, that just doesn't make any sense. Lets look at Bush's last budget with President Obama's first four as a % of GDP.
Fiscal year_______2009___2010___2011___2012___ 2013(est)
Total Revenues___ 15.1____15.1___ 15.4___ 15.8___16.9
Total Outlays_____ 25.2____24.1___ 24.1___ 22.8___22.2
Can someone explain why those numbers are worth pubs threatening to destroy the economy with default? remembering of course that President Obama maintained positive GDP which greatly helped with reducing the Bush Deficits.