President Obama HAS reduced the budget.

  1. 6
    President Obama did not "double" the deficit.

    The thing people do not understand, is, the annual budget was inherited. If the annual budget was $4 trillion per year when Obama walked in, it is $4 trillion per year, each and every year. It is an ongoing thing, in place, adding up. Kinda like your mortgage, if that comparison helps you visualize it.

    Your mortgage is $800, per month, each and every month. Lets say your name is W. Lets say you inherited an economy in almost record breaking great condition, but, then started 2 unpaid for wars, and lack of regulation on wall street in the banking world contributed to both housing bubbles and banks crashing, and for a number of reasons, let's say you did not pay the mortgage for about 7 years, W now has $900,000 in debt. W's annual "bills due to be paid" are now much higher, and adding up and up and up.

    If someone else assumed exact same loan from W, let's call him O, this person named O will now owe $15,000 per month, and is starting out $900,00 in debt already.(NOT the $800 per month list of bills due)

    If O can't pay the new size of the mortgage, of $15000, each and every month, adds onto the existing $900000 he inherited. In no time, O now owes $180,000 per year, due to the new size of the mortgage he inherited, in addition to the $900,000, and it will continue to add on and on, as those debts are ongoing, in-place debts & bills he inherited.

    Even just adding the cost of the wars, into the actual defense budget, on O's first budget, just doing that alone hugely and dramatically increased the budget, but, it's more rational than paying for the wars by congressional appropriations bills, which are not counted in the annual budget reports of "bills due to be paid".

    A fact no rightwinger seems aware of, is the budget was been dramatically reduced, the monthly mortgage has been reduced, and that $4 trillion, owed EACH AND EVERY YEAR, HAS BEEN reduced, in record levels, but, it is still overblown, and still adding up. Each and every year.

    //"The Obama administration spent $3.538 trillion in the 2012 fiscal year, 1.7 percent less than last year due to the expiration of stimulus provisions, a stronger economy, the end of military operations in Iraq and the continued drawdown in Afghanistan, the Treasury said."//

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ID:	12298<---instead of adding up all columns together, if looked at, year by year, it shows an entirely different picture. But no denying, when added up together, it is a massive number.

    Under President Obama, the yearly budget has been reduced $200 billion per year!! This is record setting reduction in the annual budget!! Yet, the budget remains more than we can pay, and it continues to add up.

    The budget explained, in plain speak, although, definitely written by a liberal, so some may rebuke this post here:

    But, if you distrust a PhD in political science, then here is the CBO, saying Obama reduced the budget by $1.9 trillion:

    Also, many people do not grasp kenseyian economics that well. turning around an economy as vast as the USA's is like turning a giant ship. At least we were saved from actually sinking! A crashing economy does need money circulating to keep multiple businesses alive.

    Imo, blaming Obama for the economy, is sort of like blaming the fireman called to put out the fire.

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    Yes, it IS still smoldering, so let's blame the fireman next to it! Must be HIS fault, cuz surely the fire he ran to put out, should be extinguished by now.

    No doubt, i will get flamed for this post, but, interesting to learn some facts anyway. (hits "submit" and then ducks!!)
    Last edit by Joe V on Feb 15, '13 : Reason: fixed spacing issues

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  3. 130 Comments...

  4. 4
    Thanks for starting this thread.
  5. 0
    Show me the last 4 years budgets required by law that were passed by the Senate? Obama hasn't reduced a budget because we have no budget. Since spending originates in the House then I guess Republicans will get the credit for ny reductions. I can blame the fireman when his incompetence leads to trying to put out the fire with a gas can.
  6. 3
    Do you have your asbestos suit out? What about protective eye covering?
    I am quite certain that factoids and fragments of truth may start flying hot and heavy here and we wouldn't want you to get hurt, Jean Marie.

    Thanks for the post, it was factual and understandable.
  7. 0
    Let me know when some actual facts show up maybe from SNL or Stephen Colbert.

    Quote from tewdles
    Do you have your asbestos suit out? What about protective eye covering?
    I am quite certain that factoids and fragments of truth may start flying hot and heavy here and we wouldn't want you to get hurt, Jean Marie.

    Thanks for the post, it was factual and understandable.
  8. 0
  9. 1
    It's interesting that a 2009 CBO report is used to back up a claim of decreased spending in 2012. Those guys must have a great crystal ball. I am fond of actual numbers instead of estimates and since we are in 2013 we do have numbers for the first term of office.

    Now, 2009 was a huge year for spending and deficit. There was a huge bailout of Wall Street and the big banks along with stimulus spending. I don't recall more bailouts after that. Maybe there was another crash or two that didn't get reported by the lamestream media.

    I do agree the Bush tax cuts helped push us into deficit territory. It is funny though how President Obama loves nearly all of the Bush tax cuts which account for the majority of the $$.

    I also agree that many people do not understand economics and the reasons for the economic crash which had it's roots in a banking industry eager to make home loans to people who could not afford them. The banks apparently correctly surmised that even if the housing bubble broke the government would come to their rescue instead of letting them sleep in the bed they made.
    herring_RN likes this.
  10. 1
    Great article. I love this from it...
    In fiscal 2010, HHS paid out either $854 billion, according to the OMB, or $944 billion, according to the Census. The $90 billion difference is almost half the value of Johnson & Johnson, the world’s biggest supplier of health-care products by market capitalization.Analyzing Spending Accounts

    “To Washington, these are rounding errors,” said Pete Sepp, executive director of the Alexandria, Virginia-based National Taxpayers Union, in a telephone interview. “To the rest of America, this is real money that could help real people with real problems.”
    tewdles likes this.
  11. 1
    I found that bit that you copied very interesting (in a disturbing way) also...
    azhiker96 likes this.
  12. 1
    I find this whole thread laughable as Obama has no budget. Last time Obama submitted a budget it was defeated 99-0 in the Senate. Not even Democrats would vote for it. Let's talk something actually measurable like this food stamp President increasing the food stamp roles from about 17 milion to 47 million.

    Senate rejects Obama budget in 99-0 vote - The Hill's Floor Action
    tntrn likes this.

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