More validated evidence of destructive Obamanomics

B_starinvestor

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Is it too hard to actually USE the U.S. Treasury as your source, and not another story that references it? Here... let me help you. United States - Department of The Treasury - Homepage.

Verify what was said in the opinion piece if you expect anyone to take it or you seriously.

I got this from that link in 15 seconds:

Federal borrowing from the public net of financial assets increased by $1,417 billion during FY2009, to $6,711 billion or 47.2 percent of GDP. [1]

Summary of Fiscal Year 2009 Final Data

Table 1. Total Receipts, Outlays, and Deficit (in billions of dollars)​

Receipts
Outlays
Deficit
FY2008 Actual
2,524
2,978
-455​
FY2009 Estimates
May 2009 Budget
2,157
3,998
-1,841​
August 2009 Mid-Session Review
2,074
3,653
-1,580​
FY2009 Actual
2,105
3,522
-1,417​
Overall, government receipts in FY2009 were $419 billion lower than in FY2008 -- a reduction of 16.6 percent. This was largely a result of the effects of the economic slowdown on incomes and corporate profits and the tax provisions in the Recovery Act, enacted in February 2009. Receipts fell from 17.5 percent of GDP in FY2008 to 14.8 percent of GDP in FY2009.
Primarily because of the government's economic recovery efforts, outlays for FY2009 grew by $543 billion, or 18.2 percent, from FY2008. The full implementation of these temporary measures -- notably TARP initiatives to aid financial institutions and stabilize credit markets, the Treasury's Preferred Stock Purchase Agreement with Fannie Mae and Freddie Mac, which helped to stabilize credit availability in the mortgage market, and the Recovery Act -- contributed to growth in outlays. Increased outlays through automatic stabilizers such as Medicaid and the Supplemental Nutrition Assistance Program also contributed to the change. As a percentage of GDP, outlays grew from 20.6 percent in FY2008 to 24.8 percent in FY2009.
 

HUNGHUGE11X7

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considering the source I would question the numbers also.

Indubitably !!!

Is it too hard to actually USE the U.S. Treasury as your source, and not another story that references it? Here... let me help you. United States - Department of The Treasury - Homepage.

Verify what was said in the opinion piece if you expect anyone to take it or you seriously.


Shhhhhhh FACTS can really be a pesky thing when one merely wishes to opine :biggrin1::tongue::biggrin1: Next you will insist someone adheres to the SCIENCE behind GLOBAL WARMING and how American civilization has exacerbated its effects..... Where will it end ? :cool:



HH
 

tripod

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Back to this....Allow zero capital gains taxes through 2011. This will move some of the trillions of dollars out of cash equivalents and into the financial markets to provide more heat for the economy.

In bloody theory or even more accurate, wishful thinking! lol! The rich people in this country who are affected by the capital gains tax have amassed unprecedented wealth during the last 30 years. They now have more money than God. You act like the wealthy are hurting for money and need a break so as to create those mythical jobs that the country so desperately needs...

The wealthy do not want to create jobs, is this not clear to you? The dividend earning jetset have been shipping our jobs overseas for 50 fucking years culminating in the present employment situation.

They did it to get larger dividends!!!!! Star, don't you understand this? the whole "tax cuts to stimulate the economy" routine is a complete FARCE and is designed only to put more money into the Swiss bank accounts of the uber wealthy. Not to stimulate the economy. Bush gave the tax cuts to the rich and all they did was pile it up in their vaults, they didn't create one fucking job with that money!!!
 
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B_New End

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Who the fuck cares about your stupid fucking numbers? As if all the shit Bush did to ruin America ended the day he left office. Bullshit. This is still Bush, and his wasteful stupid wars', and teh Federal Reserve policy, and freddie, Fannie, and wall street run amock's fault. Obama isn't helping, but don't give me the bullshit that Obama's one year has been as disastrous as Bush's 8!

I can;t believe the bullshit you motherfuckers spew day in, and day out!!! What's even sadder, is half the idiots in America are going to believe you!

But guess what? Your day is coming!! Your punishment will be watching the very America you are ruining, with your selfish policies and desires to kill and subjugate brown people worldwide for the sake of pride and empire, your punishment is going to be watching that very America crumble before your very eyes. Mark my words! It isn't going to hurt me to watch this evil empire fall... I'll be dancing in the streets... but you, and dumb fuckers like you... you guys will be shocked with grief. You won't even be able to comprehend what is going on for years.

You'll be pissed off at all the libruls that let all the Mexicans in who are rioting in the southwest, you'll be pissed at the poor black people in the inner cities rioting, and you'll be pissed at all the liberals rioting in the streets. You'll insist, "now more than ever, we need to unite" But still won't understand why nobody wants to unite under all your greedy bullshit! Watch fool... watch! There are only a few years left of your precious empire that kept going your way, kicking and screaming.
 
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B_ccc888

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Go back to the GOLD STANDARD

Don't let any governments to debase our currency and melt down our savings.............

Wars cost money

Why nobody say anything about wars ?
 

midlifebear

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The Washington Times is a daily broadsheet newspaper published in Washington, D.C., the capital of the United States. It was founded in 1982 by Unification Church founder Sun Myung Moon, and has been subsidized by the Unification Church community. The Times is known for its conservative stance on social and political issues....................Are you a Moonie Star?

It may be that Star is a moonie. He loves his Palin. But since his return to LPSG my money is on the probability that Star is still unemployed and living in his mother's basement. :smile:
 

B_starinvestor

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It may be that Star is a moonie. He loves his Palin. But since his return to LPSG my money is on the probability that Star is still unemployed and living in his mother's basement. :smile:

Moon was the genius behind the liberation of Massachussetts tonight.

Just sayin
 

B_New End

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Go back to the GOLD STANDARD

Don't let any governments to debase our currency and melt down our savings.............

Wars cost money

Why nobody say anything about wars ?

Because Obama is in office now, so war is good.
 

Thedrewbert

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Once again, don't read the article. JUST LOOK AT THE STATISTICS.

This one is from the Treasury Dept:

The US government collected $219 billion of tax receipts in December 2009 but paid out $311 billion in federal expenditures, resulting in a $92 billion deficit for the month. It was the 15th consecutive monthly deficit, an all-time record for our nation (source: Treasury Department).

Does that satisfy as a source?

And where do those tax receipts come from? Income taxes. If the budget is in place but employment falls.... guess what!? There is a deficit!

Until employment turns around, or we start taxing the hell out of banker bonuses and salary, there will continue to be a deficit.
 

Qua

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Dear GOD! Star has thoroughly cited sources and numbers, going so far as to call Vinyl out on falsely accusing him of blindly trusting a citation.


I REALLY think LPSG needs some 300+ level economics training. As does most of the country. But regardless of this, people STILL see fit to question his sources and facts? Look beyond your partisan blinders, for godsakes. And the fact that your opponent doesn't is the most bullshit excuse I've ever heard.

Now, there are plenty of refutations that have been brought up here which are plenty valid, but anyone who sees fit to question Bush's spending, blame this on Bush when when the problem predates Bush, blindly accept Obama's unparalleled credit card abuse etc needs to wake up and realize that Democrats are no better than what we just had. Washington is Washington. The parties are a farce to keep you divided and in support of their system.

And can we please stop with the "Faux News" idiocy? Please? It's as absurdly childish as the blindly partisan opposition to FACTS.

EDIT: That was not directed to the post above me. The post in question lacks economic understanding, but I don't want this diatribe to seem like it was meant as a response to it.
 
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B_starinvestor

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In bloody theory or even more accurate, wishful thinking! lol! The rich people in this country who are affected by the capital gains tax have amassed unprecedented wealth during the last 30 years. They now have more money than God. You act like the wealthy are hurting for money and need a break so as to create those mythical jobs that the country so desperately needs...

I'm not suggesting that they are hurting for money [although many currently are.]

But say someone has $100k in a savings account. They may be getting 1% - which is taxable. Most investors are still in shellshock from the 54% decline in the S&P from '08 - '09.

If you give them an opportunity to glean returns from stocks in which they will not have to tear off a % of gains for taxes, they will be more incented to invest. When money is invested into the stock market, stock prices move upwards, publicly-traded companies are then propped up and have more options to expand, hire, etc. Trillions sitting in CD's and money market instruments does nothing for the economy. The GD banks aren't lending anything.

The wealthy do not want to create jobs, is this not clear to you? The dividend earning jetset have been shipping our jobs overseas for 50 fucking years culminating in the present employment situation.

I would argue that this phenonenon is actually healthy for us over the long-term. When our labor cost gets so high that it is actually cheaper to build a facility 12,000 miles away - it means that the labor costs are unhealthy and outsourcing will actually keep U.S. companies competitive and maintain our economic dominance worldwide - which in the long term will ensure that U.S. companies will provide a strong pool of jobs - domestically - for years to come. I feel bad for those that lost jobs, particularly in the manufacturing sector - but the labor costs were simply becoming outrageous.

They did it to get larger dividends!!!!!

No, my friend. They did this to survive. I would rather that GE shipped 25,000 jobs overseas - and still stayed in business to employ 275,000 jobs here in the U.S. than have GE go out of business so they could keep those overseas jobs here for 2 or 3 more years and then disappear completely.

Star, don't you understand this? the whole "tax cuts to stimulate the economy" routine is a complete FARCE and is designed only to put more money into the Swiss bank accounts of the uber wealthy. Not to stimulate the economy. Bush gave the tax cuts to the rich and all they did was pile it up in their vaults, they didn't create one fucking job with that money!!!

Not enough time to go into this one!
 

B_VinylBoy

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Dear GOD! Star has thoroughly cited sources and numbers, going so far as to call Vinyl out on falsely accusing him of blindly trusting a citation.

I REALLY think LPSG needs some 300+ level economics training. As does most of the country. But regardless of this, people STILL see fit to question his sources and facts? Look beyond your partisan blinders, for godsakes. And the fact that your opponent doesn't is the most bullshit excuse I've ever heard.

Most times, Star doesn't provide ANY real sources besides opinionated blogs and editorials. I may not agree with him (and I still don't), but if you provide some real evidence, even a little bit, then I tend not to be so condemning.

BTW... star looks through the same partisan binders, if only in reverse. While it's nice that he used some real numbers to back a few of his claims, let's not get too crazed about this last exchange of words.
 

B_starinvestor

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Most times, Star doesn't provide ANY real sources besides opinionated blogs and editorials.

That is not remotely true.

BTW... star looks through the same partisan binders, if only in reverse.

Somewhat.

However, i do not blindly defend/endorse the right. At all. I have conceded countless times that the repub party is in shambles and are fucked up.

Most of my political opponents on this board blindly defend/endorse the Dem party and Prime Minister Obama - relentlessly.
 

B_VinylBoy

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That is not remotely true.

Don't make me go down your post history to prove otherwise. :rolleyes:

You tend to source stories where the author says they got their info from other reference material, when all you should have done was go to that more reliable source to begin with. I doubt you would have went to the Treasury website if I didn't provide the link. Which is why when someone else called you on it, you put it in large print as if that was supposed to be the end of it... as if anyone with an agenda couldn't use info from a verifiable source and spin the data. It happens all the time, especially in opinionated editorial pieces and blogs.

However, i do not blindly defend/endorse the right. At all. I have conceded countless times that the repub party is in shambles and are fucked up.

Most of my political opponents on this board blindly defend/endorse the Dem party and Prime Minister Obama - relentlessly.

Read between the lines. Many of them aren't, and if you want to be more respected around here you may want to stop lumping all of them together as one fanatical group. Even with my repeated announcements about how I came to the decision to vote for Obama in '08, how I have voted for people that aren't Democrat in the past, and how I have criticized the current administration (in my own way) for some of their mishaps surrounding Health Care Reform and Gay Rights Issues, I'm still labeled by people like you as a "blind lib", and it's all because my gripes with government are not the same as yours... plus I tend to be reasonably optimistic and patient (although rash & blunt when necessary), which always makes your adversaries think you're manic obsessive. :rolleyes:
 
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D_Tully Tunnelrat

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And the point of this spat is what boys? My guys are better than yours? Please, both parties have been and are for sale, if you have the cash, which is why the system will not change till this does. In the meantime the fox is still guarding the hen house, so real change cannot happen. We have become a corporatocracy.