CBO: Under Obama's Budget Debt Level Will Rise to 90% of GDP in Nine Years

Discussion in 'Politics' started by Trinity, Mar 30, 2010.

  1. Trinity

    Trinity New Member

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    Does anyone believe that Obama's agenda is sustainable? It is utter madness to allow this to happen to our country.

    Obama has been off in his projections all along and as of Thursday the CBO says his budget will create a deficit 90% of GDP in 9 years and his budget was 1.2 Trillion off in it's projections.:rolleyes:

    CBO: Debt level will rise to 90% of GDP in nine years
    on March 27, 2010

    Washington Times

    Washington Times

    Then they know it is madness and just proceed. :rolleyes: Democrats are out in November for being stupid.
     
  2. mikeyh9in

    mikeyh9in Active Member

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    Oh... thank goodness Trinity... it's the CBO estimate. You already said that the CBO can't be trusted -- you know with them estimating that the healthcare reform law will *reduce* the deficit by 1.2 Trillion.

    They must now be influenced by the right, instead of the left.
     
  3. B_talltpaguy

    B_talltpaguy New Member

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    Here Trinity, maybe this will help you with whatever mental disorder it is that you're afflicted with...

    www.healthyplace.com
     
  4. Trinity

    Trinity New Member

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    No. The CBO is bound by accounting rules and they are bound by what is submitted to them. Even by what Obama submitted...he's off by 1.2 Trillion and will have this country at a debt level of 90% of GDP in 9 years.
     
  5. D_Fortumus Wigglesack

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    Your first problem is citing a source I've seen you say is unreliable before. Your second is assuming that everything in the budget is supposed to be long-term spending anyway. And your worst mistake is comparing it to Bush's deficit as though all deficits are the same. Bush was like going to the bank to get a loan for buying a ton of shiny balloons; Obama is more like using that loan to weatherize his house for lower electric bills.
     
  6. B_RedDude

    B_RedDude New Member

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    No matter how one looks at it, none of this would be as bad if good ol' George W hadn't run up the deficit as high as he did in his 8 years in office with his tax cuts and immoral war in Iraq (after coming into office with a budget surplus, that is). Obama is trying to move the country forward, but is terribly hampered by the legacy of George W. Bush.
     
  7. D_Fortumus Wigglesack

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    Oh, and the public debt was over 80% of our GDP before Obama even took office. Responsible investments (gasp) reap in positive rewards. Just look at FDR; it's the new "in" thing now for rpublicans to revise history and attack him, but not only did he establish things that resulted in us leading the world by 1950, but because he proposed sensible bills, even the big scary price tags on them and the debt-to-GDP ratio had dropped back down to normal within 20 years after his policies were implemented.

    Now really, just why do you even come here to troll people trinity? Were the Ron Paul-worshiping kids at 4chan too tough to fool?
     
  8. Pitbull

    Gold Member

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  9. Trinity

    Trinity New Member

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    Do you have a citation for that?
     
  10. B_talltpaguy

    B_talltpaguy New Member

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  11. D_Fortumus Wigglesack

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    United States public debt

    several links to CBO and various other reports out there. Now grow up and find something better to do than turn a simple politics subsection of a sex-based forum into a provocative, distorted, one-man freakshow please.
     
  12. mikeyh9in

    mikeyh9in Active Member

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    Trinity,

    You forget that Bush *never* paid for his wars through the normal budget process.

    Also, you have the unfunded Medicare Prescription program, *and* the Trillion dollar tax break to the rich.

    Bush just hid all of his spending and claimed that everything was peachy!

    Please remember that Bush came in office with the biggest problem being that we may pay off the national debt too early because of the surpluses that Clinton gave him.

    He drove this country into the ground, and now when a democrat needs to fix it again, you are pissed.

    Daily Kos: State of the Nation!

    -Mike
     
  13. Pitbull

    Gold Member

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    Looking at the above chart you cited,
    my thought is that the debt was very high from 1940-1945 because of World War II.
    And that it came down in the years following because the war ended.

    Such an explanation does not provide justification for the Obama spending spree. Is that why you overlooked the obvious?

    America's post war economic dominance had a lot to do with the industrial infrastructure put in place to fight the war and that Europe and much of Asia was in shambles.

    I would not give FDR's New Deal policies credit for America's post war economic boom.
    In fact most historians feel that without World War II, the great depression would have continued in spite of the New Deal.
     
  14. Pitbull

    Gold Member

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    The Democrats and most Republicans failed to complain about the out of control spending of George Bush.

    But many were aware and complained.

    The Obama answer to too much spending by Bush is even more spending.
    Doesn't take a genius to realize that is not going to "fix" it.

    Let's spend our way out of debt.
    Let's drink our way to sobriety.
     
  15. justasimpleguy

    justasimpleguy Active Member

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    The Dems failed to complain about out of control spending? LOLOLOL. You mean when the medicare expansion and tax cuts passed through reconciliation with no Dem support right? Just because you didn't hear about doesn't mean people weren't flipping out.
     
  16. TomCat84

    Gold Member

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    Indeed, so what did the country do to pay off the war debt? Taxes were raised. Do you see that now? No.
     
  17. TomCat84

    Gold Member

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    Not to mention that Medicare expansion was ahcieved because the Republican leadership in the House held voting open for far beyond the normal 2 hour limit. If I recall correctly, it passed with somewhere around a 2vote margin.
     
  18. mikeyh9in

    mikeyh9in Active Member

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    This really shows your youth and inexperience in understanding Government spending.

    Please educate yourself -- I recommend studying the issues Japan went through during their recent extended recession and how its mistakes on spending made the problem even worse. I'm sure their are multiple MBA case studies around for you to review.

    Also, it was the Republicans yelling and screaming back in 1993 that "You are going to drive us into a deeper recession by raising taxes"... yet, the democrats:

    - Did raise taxes, and
    - turned a budget deficit into a budget surplus, and
    - the country enjoyed many years of economic growth.

    Now the Republicans are yelling and screaming again.

    I just want to say to those folks... "shut up and sit down -- we know what we are doing, we have to do it *every* time a Republican gets out of office."
     
  19. D_Fortumus Wigglesack

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    The graph wasn't what I was referring to. I was referring to. I was referring to the graph further down. And the only "infrastructure" WWII created was the military-industrial complex that still exists today; it didn't create all the roads, the schools, social security, and everything else responsible for putting us at the head of the world afterwards. The war is definitely what ended the depression, but it's not what made the US a world power.

    oh, and know what a war is, in terms of economics? A spending spree.
     
  20. justasimpleguy

    justasimpleguy Active Member

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    This thread is just silly.

    So, we have 2 to 4 wars (depending on who is counting) being fought off the books with a halfway privatized military. Crumbling public schools and other infrastructure. Rising energy costs and increased property damage from climate change. And the largest financial meltdown and depression since the 1930s.

    Who is surprised that the debt is going to be a huge portion of GDP for awhile? Only idiots.
     
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