Obama Spending Lowest In 60 Years [W:166/819]

[Aberration]

Re: Obama Spending Lowest In 60 Years

"Did people really think that the effects of the biggest economic collapse since the Great Depression would stop on a dime on January 20th 2009 when Obama was sworn in?"

Read more: Don't forget mess that Obama inherited

It appears to be the same expectation that Liberal make of austerity.

 

[Eighty Deuce]

Re: Obama Spending Lowest In 60 Years

"Did people really think that the effects of the biggest economic collapse since the Great Depression would stop on a dime on January 20th 2009 when Obama was sworn in?"

Read more: Don't forget mess that Obama inherited

It wasn't a "dime". It was 10 trillion of them.

We have more people not working now than when we blew those 10 trillion dimes.

 

[Catawba]

Re: Obama Spending Lowest In 60 Years

It appears to be the same expectation that Liberal make of austerity.

Because its working out so swimmingly in Greece!!!

 

[Aberration]

Re: Obama Spending Lowest In 60 Years

Because its working out so swimmingly in Greece!!!

Has anyone suggested that austerity, in the short term would work out swimmingly?

I mean I know 10 years ago when I worked up my credit card max, and I decided to use my extra cash to pay it down, things were not swimmingly during that time. Naturally, I had less disposable cash. Once I got done paying it off though, and my disposable income was freed up, I was better off...

 

[Catawba]

Re: Obama Spending Lowest In 60 Years

It wasn't a "dime". It was 10 trillion of them.

We have more people not working now than when we blew those 10 trillion dimes.

See the Great Depression. It was much worse for a lot longer.

 

[Catawba]

Re: Obama Spending Lowest In 60 Years

Has anyone suggested that austerity, in the short term would work out swimmingly?

I mean I know 10 years ago when I worked up my credit card max, and I decided to use my extra cash to pay it down, things were not swimmingly during that time. Naturally, I had less disposable cash. Once I got done paying it off though, and my disposable income was freed up, I was better off...

We won't be talking austerity measures in this country until we stop spending as much as the rest of the world combined on the military, optional wars and tax cuts for the rich.

 

[Eighty Deuce]

Re: Obama Spending Lowest In 60 Years

See the Great Depression. It was much worse for a lot longer.

No **** Sherlock !! With FDR at the helm then, and Obama now, there's no reason to think that Obama won't **** this one up as much as FDR did then. Both were economic dunderheads.

 

[Aberration]

Re: Obama Spending Lowest In 60 Years

We won't be talking austerity measures in this country until we stop spending as much as the rest of the world combined on the military, optional wars and tax cuts for the rich.

You could have just stopped there.

 

[Catawba]

Re: Obama Spending Lowest In 60 Years

No **** Sherlock !! With FDR at the helm then, and Obama now, there's no reason to think that Obama won't **** this one up as much as FDR did then. Both were economic dunderheads.

That is your opinion, and one not shared by the majority of scholars who consider FDR our greatest president, nor was your opinion shared by the majority of voters that were living then, as they reelected FDR two more times.

 

[Aberration]

Re: Obama Spending Lowest In 60 Years

See the Great Depression. It was much worse for a lot longer.

Seems like a non-sequiter.

 

[Catawba]

Re: Obama Spending Lowest In 60 Years

You could have just stopped there.

Not possible, or necessary. It will take both spending cuts and revenue increases to reduce our debt. There has not been a single administration in the last century that has been able to reduce debt without both cutting spending and increasing revenue.

 

[Phoenix]

Re: Obama Spending Lowest In 60 Years

That is your opinion, and one not shared by the majority of scholars who consider FDR our greatest president, nor was your opinion shared by the majority of voters that were living then, as they reelected FDR two more times.

Many renowned economists claim that the Great Depression was prolonged by FDRs programs. As far as voters go, lots of people, that had lost everything they had, voted for someone that was giving away a bunch of ****.

 

[Catawba]

Re: Obama Spending Lowest In 60 Years

Seems like a non-sequiter.

Perhaps to those unaware of how close we came to another Great Depression.

Economist say we narrowly avoided another Great Depression

 

[Catawba]

Re: Obama Spending Lowest In 60 Years

Many renowned economists claim that the Great Depression was prolonged by FDRs programs. As far as voters go, lots of people that had loast everything they had voted for someone that was giving away a bunch of ****.

The majority of economists and scholars think he was the greatest president. The majority of people voted for who was helping them? Imagine that! You think they would have voted for a big old tax cut for the rich, because that will fix anything, right?

 

[Eighty Deuce]

Re: Obama Spending Lowest In 60 Years

Seeing as we have the current jackass in the White House, and he is a complete failure, it is clear that the "will of the people" is not always a good barometer of intelligent choice making.

FDR also gave us this massive debt anchor around our necks known as Social Security.

In any case, FDR, and the Great Depression, have nothing to otherwise do with Obama being collossally inept !

 

[Catawba]

Re: Obama Spending Lowest In 60 Years

Seeing as we have the current jackass in the White House, and he is a complete failure, it is clear that the "will of the people" is not always a good barometer of intelligent choice making.

FDR also gave us this massive debt anchor around our necks known as Social Security.

In any case, FDR, and the Great Depression, have nothing to otherwise do with Obama being collossally inept !

You really are misinformed, but that helps explain why your opinions are so skewed.

SS has not added one dime to our National Debt.

"The Facts

Social Security was created in response to the pervasive poverty during the Great Depression. It is designed to provide workers with a basic level of income in retirement, as well as disability and life insurance while they work. Just over 60 percent of the 54 million beneficiaries are retired workers; the rest are disabled workers, dependents or survivors.

The benefits are progressive, meaning lower-income workers get a relatively better deal than higher-income workers; however, workers making above a certain salary ($106,800 this year) don’t have to pay as much of their income into the system. The benefits are inflation-adjusted, a feature that is almost impossible to find in the U.S. annuity market.

About 96 percent of workers must pay a certain amount of their paycheck to the system, an amount that is matched by their employers. (Some state and local workers don’t participate in Social Security; normally the employee rate is 6.2 percent of salary, but it was reduced to 4.2 percent this year as part of a “payroll tax holiday”.)

Social Security is a pay-as-you-go system, which means that payments collected today are immediately used to pay benefits. Until recently, more payments were collected than were needed for benefits. So Social Security loaned the money to the U.S. government, which used it for other things. In exchange, Social Security received interest-bearing Treasury securities. The value of those bonds is now about $2.6 trillion."

Social Security and its role in the nation’s debt - The Washington Post

 

[Eighty Deuce]

Re: Obama Spending Lowest In 60 Years

From your link:

The Pinocchio Test

Becerra is sincere in his convictions and his statement is true, so far as it goes. Yes, Social Security in the past has not contributed to the nation’s debt. But it’s basically a meaningless fact and actually distracts from the long-term fiscal problem posed by the retirement of the baby boom generation and the shrinking of the nation’s labor pool.

For your reading comprehension, and there is a whole lot of room for improvement there ... I did not say that it had added debt .... yet ... but your link clearly indicates that it is underfunded, and that just this past year, required $45 billion from the general fund in order to pay its obligations. That number is expected to grow with every subsequent year moving forward .... a "debt anchor"

Thanks FDR.

 

[Catawba]

Re: Obama Spending Lowest In 60 Years

From your link:

The Pinocchio Test



For your reading comprehension, and there is a whole lot of room for improvement there ... I did not say that it had added debt .... yet ... but your link clearly indicates that it is underfunded, and that just this past year, required $45 billion from the general fund in order to pay its obligations. That number is expected to grow with every subsequent year moving forward .... a "debt anchor"

Thanks FDR.

You didn't comprehend the article or what you just wrote.

It is the general fund that has a debt problem. SS has enough surplus ($2.6 trillion) to fully fund the program until 2036.

A simple increase to the cap to $180,000 from the current $106,000 makes fully funded for the long term.

I guess some would love for the government to default on its debt to seniors so we could give even bigger tax cuts to the wealthy but that won't happen because the GOP can't get elected without the senior vote.

 

[Aberration]

Re: Obama Spending Lowest In 60 Years

Not possible, or necessary. It will take both spending cuts and revenue increases to reduce our debt. There has not been a single administration in the last century that has been able to reduce debt without both cutting spending and increasing revenue.

Thats because the most serious spending cut we have had, was recently, and that was what? 900B over 10 years? For 900B now. And that was considered a good deal.

 

[Phoenix]

Re: Obama Spending Lowest In 60 Years

Not possible, or necessary. It will take both spending cuts and revenue increases to reduce our debt. There has not been a single administration in the last century that has been able to reduce debt without both cutting spending and increasing revenue.

NO administration in the last century has left office with less debt than when they came in. Period.

 

[AdamT]

Re: Obama Spending Lowest In 60 Years

NO administration in the last century has left office with less debt than when they came in. Period.

You are mistaken. In fact EVERY president after WWII left office with less debt than when they came in ... until Ronald Reagan....

 

[washunut]

Re: Obama Spending Lowest In 60 Years

You are mistaken. In fact EVERY president after WWII left office with less debt than when they came in ... until Ronald Reagan....

Does Carter count as a President?

 

[johnny_rebson]

Re: Obama Spending Lowest In 60 Years

"Did people really think that the effects of the biggest economic collapse since the Great Depression would stop on a dime on January 20th 2009 when Obama was sworn in?"

Read more: Don't forget mess that Obama inherited

America is sick of the excuses coming from Democrats.

 

[AdamT]

Re: Obama Spending Lowest In 60 Years

Does Carter count as a President?

Generally no.

 

[AdamT]

Re: Obama Spending Lowest In 60 Years

America is sick of the excuses coming from Democrats.

Most Americans know where the blame lies.

Fifty-four percent of respondents said that Bush was more to blame while 29 percent put the blame on Obama; 9 percent said both men deserved blame while 6 percent said neither did. Among registered voters, the numbers are almost identical; 54 percent blame Bush, while 30 percent blame Obama.

The economy? It’s still Bush’s fault - The Washington Post