obama has cut the deficit by more than two thirds
- Thread starter UncleBuck
- Start date
nontheist
Well-Known Member
Deficit by President
You probably know that each year's deficit is added to the debt. However, did you also know that the amount added to the debt each year is more than the deficit? That's because Presidents can "borrow" from the Social Security Trust Fund, and other parts of the government that are running a surplus. Find out How Much Each President Really Contributed to the Debt.
President Barack Obama:
President Obama has the largest deficits, totaling $5.073 trillion in just his first four years. Obama's budgets included the economic stimulus package, which added $787 billion by cutting taxes, extending unemployment benefits, and funding job-creating public works projects. The Obama tax cuts added $858 billion to the debt over two years. Obama's budget included increased defense spending to around $800 billion a year. Federal income was down, a result of lower tax receipts from the 2008 financial crisis.
Both Presidents Bush and Obama had to contend with higher mandatory spending for Social Security and Medicare than their predecessors did. That's because health care costs were rising, and the American population was aging. Obama also sponsored the Patient Protection and Affordable Care Act, which was designed to reduce the debt by $143 billion over 10 years. However, these savings don't show up until later years. For more, see National Debt Under Obama.
President George W. Bush:
President Bush is next, racking up $3.294 trillion over two terms. He responded to the attacks on 9/11 by launching the War on Terror. This drove military spending to a new records, between $600-$800 billion a year. President Bush also responded to the 2001 recession by passing EGTRRA and JGTRRA, otherwise known as the Bush tax cuts.
nontheist
Well-Known Member
President Barack Obama: Total Deficits So Far = $5.073 trillion.
- FY 2013 - $901 billion.
- FY 2012 - $1.327 trillion.
- FY 2011 - $1.299 trillion.
- FY 2010 - $1.546 ($1.293 trillion plus $253 billion from the Obama Stimulus Act that was attached to the FY 2009 budget).
greenlikemoney
Well-Known Member
Oh jeez, I fully expect the next 20 comments to dissolve into a blacks vs whites argument ( led by Uncle Immigration ) while 60,000 hispanic children lay dying on the border.
nontheist
Well-Known Member
according to him they don't exist.
greenlikemoney
Well-Known Member
They don't, actually immigration has reversed itself as ANYONE who can afford to relocate is getting the fuck outta here and migrating to a 2nd World Country.
DonAlejandroVega
Well-Known Member
greenlikemoney
Well-Known Member
Even Cuba sounds good lately.....I be a "high MF roller in pais Cubano"...Viva le Cuba !!!!!!
You should look more closely.
Obama has presided over 5 of the 6 largest deficits of all time of all countries in the history of human beings in the entire universe.
http://www.cnsnews.com/news/article...presided-over-5-6-largest-deficits-us-history
Obama has another 3 years in which to deficit spend even more.
Loser.
Doer
Well-Known Member
A bad economy is what cut the deficit. He let that ride and got a big cut.
You are backwards. There has never been a surplus and the spending is not out of line thanks to Obama.
Thanks to Obama the States are pressured to gain more revenue from pot.
We can see FL and CA, maybe more with ballots on it this fall.
If there was a balls on economy in this global market, it would mean double digit inflation.
Thank Obama for some of the lowest, long term borrowing stability we have had in a long time. No inflation means slow careful growth.
I was able to buy nice little house, just recently, and get a 4% loan.
In a hot economy Elected Critters get to spend more money and even California will turn to Eradication of the killer weed.
Thanks Obama. These States can't splurge on Helicopters, Tanks, and shit.
Thanks Obama for ignoring the Dick Heads and doing the right things, as the President for these times must.
You were robbed, you should have easily been able to snag one at 2.5%. I bought another rental home in town and thats the rate I got on a 30 year. The payment will be 806 a month and rent will be 1450. Already got a 2 year rental agreement. House will be another tax write-off also since I will be doing energy improvements paid for by dumb US Citizens..
UncleBuck
Well-Known Member
no.
it is tougher to cut the deficit during a weak economy, history shows this over and over again.
Doer
Well-Known Member
No. There are 3 sides to deficit. It is compare to GDP in your own math, and to debt.
Slow the GDP and the rate of deficit spending stays the same, you lower the ratio of debt to GDP. We have already discussed this.
You certainly may not say he has lowered the dollar amount of debt. And you cannot say he has reduced spending.
The GDP rate of growth has slowed and that improves the deficit ratio math.
Thanks Obama. Smooth play, and totally necessary not to Greek Dip.
Slow the GDP and the rate of deficit spending stays the same, you lower the ratio of debt to GDP. We have already discussed this.
You certainly may not say he has lowered the dollar amount of debt. And you cannot say he has reduced spending.
The GDP rate of growth has slowed and that improves the deficit ratio math.
Thanks Obama. Smooth play, and totally necessary not to Greek Dip.
UncleBuck
Well-Known Member
i'm not sure you understand how numerators and denominators work.
Obama is the biggest spender of all time, even his 1/3 cut in the deficit puts him at the all time biggest spender ever. No one has ever spent more than Obama, Obama will clearly be the all time biggest deficit spender that ever existed. Ever. No one has ever spent as much in a single year as Obama. No one can touch the awesome bankruptcy skills that Obama has shown. Who was Carter? All but forgotten now that Obama is here.
UncleBuck
Well-Known Member
no one has ever cut the deficit as much as obama has.
