The U.S. Govenment is Conducting a Ponzi Scheme

[emapples]

Who was responsible for the $1.4 trillion deficit in 2009?

"In addition to being theoretically misguided, critics sometimes blame Obama for things that are not his fault. Listening to a talk radio program yesterday, the host asserted that Obama tripled the budget deficit in his first year. This assertion is understandable, since the deficit jumped from about $450 billion in 2008 to $1.4 trillion in 2009...But there is one rather important detail that makes a big difference...(That) is based on the assumption that the current administration should be blamed for the 2009 fiscal year. While this makes sense to a casual observer, it is largely untrue. The 2009 fiscal year began October 1, 2008, nearly four months before Obama took office. The budget for the entire fiscal year was largely set in place while Bush was in the White House. "
http://www.cato.org/blog/dont-blame-obama-bushs-2009-deficit

Obama is the worst president of all time? Not Nixon, Bush or even Andrew Johnson? You're entitled to your opinion, but it's an opinion that could only be made while wearing blinders.

I think you missed the point of that chart I posted, first of the deficit was over 450 it was 498 billion in bush's last year. I think its important to note that I am not focusing on 2009 alone, although 700 billion of the deficit can certainly be attributed to the bipartisan bail out of the auto makers, big banks, and insurers. My point is pretty simple if you take Bush administration numbers from 2002 through 2008, you have an aggregate deficit spend of 1,852 trillion. Compared to the Obama administrations numbers You have a aggregate deficit spend of 5.992 trillion. As you are eagerly point out 2009 may not be all Obamas fault, I agree half of that number was a bipartisan bailout. So in fairness I will split 2009 between the administrations and what you end up with after that is a Bush deficit of 2.609 trillion and an Obama Deficit at 5.234 trillion, and this number only goes through 2013 (this administration has 2 more years that are not include in this Talley) So I would imagine even with splitting 2009 between the current and the previous administration. It is entirely possible for Obama to triple the level of deficit spending before he leaves office. Deficit spending is stupid regardless of which party is in charge at the time. I can understand the spending on bushes part he was at least fighting two expensive wars. What has Obama done that is so costly, I haven't seen any of it maybe because I don't utilize any of his social programs or welfare? I don't know but I didn't make the numbers up

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[JD8]

Very interesting comment, especially considering that I was the original poster in this thread, so who is doing the chasing here?

He likes to get all hypocritical on ya doesn't he? Gonna have to agree on the need for a basic economy background too.

Sent from the naughty list.

 

[TerryMiller]

He likes to get all hypocritical on ya doesn't he? Gonna have to agree on the need for a basic economy background too.

Sent from the naughty list.

Yeppers. He also wrote of me insulting him, but at least 2 or 3 times in this thread he has basically accused us (and our sources) of being liars.

 

[Defnestor]

Can we all agree that dems and reps have both added to the debt? Can we agree that, no matter who is at the helm, this ship is headed for the falls? I swear, it's like watching people root for the Globetrotters, except both sides think their team is the Globetrotters, and no one knows it's a show.

 

[emapples]

Can we all agree that dems and reps have both added to the debt? Can we agree that, no matter who is at the helm, this ship is headed for the falls? I swear, it's like watching people root for the Globetrotters, except both sides think their team is the Globetrotters, and no one knows it's a show.

I can agree with that with the exception of Mr. Bill Clinton, I am very much conservative but I still have to take my hat off to Bill Clinton and his administration when it comes to fiscal responsibility as he ended his term with a surprise, but nobody gas added to it like the current administration.

 

[JD8]

Can we all agree that dems and reps have both added to the debt? Can we agree that, no matter who is at the helm, this ship is headed for the falls? I swear, it's like watching people root for the Globetrotters, except both sides think their team is the Globetrotters, and no one knows it's a show.

 

[TerryMiller]

Can we all agree that dems and reps have both added to the debt? Can we agree that, no matter who is at the helm, this ship is headed for the falls? I swear, it's like watching people root for the Globetrotters, except both sides think their team is the Globetrotters, and no one knows it's a show.

I can agree with that with the exception of Mr. Bill Clinton, I am very much conservative but I still have to take my hat off to Bill Clinton and his administration when it comes to fiscal responsibility as he ended his term with a surprise, but nobody gas added to it like the current administration.

Yep. I can easily agree that members of both parties are a part of the problems our nation has. In spite of the bad rap they got, the Tea Party movement was pretty united in that it wasn't really a Republican/Democrat thing as it was poor leadership that needed to be woken up.

Now, we have Republican leadership that want to cave in on so many things because they think that is what the people want, even though the majority of the polls say otherwise. I'll give credit to Bill Clinton in the sense that he didn't get in the way when the Congress went Republican because of his tax hikes and Hillary's health care plan. I want to credit the Republican Congress for more credit that what Clinton did. Clinton only signed the welfare reform bill after he was advised that to continue to veto it would mean he couldn't win reelection.

As for the 1994 Congressional elections, the Republicans mostly won because they went into their campaigns with the Contract with America, which they followed through with and voted on all they said they would. Sadly, the Republicans today mostly campaigned on "I'm not Obama."

 

[securitysix]

"It also means that total US debt has increased by 70% under Obama, from $10.625 trillion on January 21, 2009 to $18.005 trillion most recently."

Interesting. They want to add every penny spent in 2009 to Obama's tally.

Since you like to question sources, and not the facts, this is from the most right-wing think tank there is, the CATO Institute.

...critics sometimes blame Obama for things that are not his fault. Listening to a talk radio program yesterday, the host asserted that Obama tripled the budget deficit in his first year. This assertion is understandable, since the deficit jumped from about $450 billion in 2008 to $1.4 trillion in 2009. ... it appears as if Obama’s policies have led to an explosion of debt...But there is one rather important detail that makes a big difference. The chart is based on the assumption that the current administration should be blamed for the 2009 fiscal year. While this makes sense to a casual observer, it is largely untrue. The 2009 fiscal year began October 1, 2008, nearly four months before Obama took office. The budget for the entire fiscal year was largely set in place while Bush was in the White House.

Anyone that claims that Obama has added 70% to the nation debt is lying. Not fudging the numbers, not bending the truth, they are lying. At the end of the 2009 fiscal year, the last one that the Bush administration wrote the budget, the national debt was $11.9 trillion.

Bush, who started with a nearly balanced budget, more than doubled the debt and left a $1.4 trillion deficit. Reagan, the innovator of deficit spending, raised the debt 300%. If Obama added to the debt at the rate Reagan did, it would be $36 trillion when he leaves office. It will be less than $20 trillion.

What was it Obama did before he was President? Oh, that's right. He was a United States Senator. So how did he vote as a Senator on all the bills that were involved in raising the deficit during the 2009 fiscal year? Did he vote against all of them? Did he vote against any of them?

While he may not be solely responsible for them, if he voted in favor of them, he certainly contributed to them, and if he abstained or failed to vote because he wasn't present when the votes were being held, he certainly didn't contribute to stopping them. Unless he voted against all of the spending bills, he can't exactly wash his hands of all responsibility for any increase in the deficit for the 2009 fiscal year, either.

 

[emapples]

What was it Obama did before he was President? Oh, that's right. He was a United States Senator. So how did he vote as a Senator on all the bills that were involved in raising the deficit during the 2009 fiscal year? Did he vote against all of them? Did he vote against any of them?

While he may not be solely responsible for them, if he voted in favor of them, he certainly contributed to them, and if he abstained or failed to vote because he wasn't present when the votes were being held, he certainly didn't contribute to stopping them. Unless he voted against all of the spending bills, he can't exactly wash his hands of all responsibility for any increase in the deficit for the 2009 fiscal year, either.

Six,

Even if we split the 2009'deficit between the administrations, Obama has doubled Bush's defecit through 2013, and he has 2014 / 2015 left to add to his total. I have provided the numbers in previous posts to this thread, it's no irrefutable regardless of how we involve 2009.

 

[emapples]

Nixon resigned. He was not impeached.

My apologies, you are correct I thought he resigned after articles of impeachment were drawn up. forgive me imam