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Thread: Deficit

  1. #1
    Super Moderator UGLY's Avatar
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    Default Deficit

    Looking at these numbers what are Obama's chances of reducing the deficit by the end of his first term? I believe he meant he would cut the Bush deficit in half and he has added a trillion to that. So what do you think?

    http://blog.heritage.org/2009/03/24/...t-in-pictures/

  2. #2
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    Default Re: Deficit

    Heritage and you both make the claim that Obama has said he would cut the Bush deficit in half. Source?

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    Super Moderator UGLY's Avatar
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    Default Re: Deficit

    http://www.politifact.com/truth-o-me...lf-four-years/

    Obama made the claim during the campaign that he would cut the deficit in half by the end of his first term.

  4. #4

    Default Re: Deficit

    I also believe many of the assumptions in Obama's budget (ie. savings from this, savings from that, GDP estimates, etc.) are terribly optimistic.

    If everything falls into place with respect to global economic recovery (the US will not lead this), many of the assumptions in Obama's budget may come true. However, he needs everything to fall into place for his budget (and projected deficits) to materialize as he hopes.

  5. #5

    Default Re: Deficit

    I hope Obama does decrease the deficit. I'm no accounting but I don't see how you can go on spending more than you earn forever (a problem that a lot of US presidents have had, not just Obama).

  6. #6

    Default Re: Deficit

    Quote Originally Posted by arm-spin View Post
    I hope Obama does decrease the deficit. I'm no accounting but I don't see how you can go on spending more than you earn forever (a problem that a lot of US presidents have had, not just Obama).
    Agree. Obama did not create this nation's huge debt. However, he is making it much worse.

  7. #7

    Default Re: Deficit

    He doesn't have a choice.

    The same nopublicans who let the fox in the hen house the last 8 years all of a sudden care about the poor hens.

    Even if Obama did halve the thing, the nopubs would say why didn't he cut it by 75%.

  8. #8

    Default Re: Deficit

    BTW, didn't catch too much of the news that the Banks are paying back 68 bil of TARP. This is the TARP that was gifted to them by GWB.

    Of course, at that time the nopublican presidential nominee said that the fundamentals of the economy were strong.

  9. #9
    Super Moderator UGLY's Avatar
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    Default Re: Deficit

    Quote Originally Posted by washed up wrestler View Post
    BTW, didn't catch too much of the news that the Banks are paying back 68 bil of TARP. This is the TARP that was gifted to them by GWB.

    Of course, at that time the nopublican presidential nominee said that the fundamentals of the economy were strong.
    Gifted or forced? I only know on bank that is paying back 10billion I have not seen the rest that are.

    Obama did have a choice in the matter. How about dont increase the deficit by 1trillion in your first 100 days. If he gets his health care reform he has no shot. He is a spender and a taxer. Bush was a spender, with an open check book. Obama did not create the initial mess but he has done nothing to make it better.

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