The Budget Deficit Blues

Now all I hear from the right is about the deficit, (well, that's not ALL I hear, it's just the only thing that isn't contrived totally in BS) how the deficit is too large, how "tax and spend liberals" are bankrupting this country.

So, perhaps we need to take a real serious look at the budget and really who spent what.

www.ustreas.gov...

Summary of Fiscal Year 2010 Budget Results


Year-end data from the September 2010 Monthly Treasury Statement of Receipts and Outlays of the United States Government show that the deficit for FY 2010 was $1.294 trillion, $122 billion or nine percent less than in FY 2009, and $177 billion or 12 percent less than estimated in the July 2010 Mid-Session Review of the FY 2011 Budget (MSR). The deficit was also $261 billion or 17 percent less than the estimate in the President's FY 2011 Budget submitted to Congress in February 2010. As a percentage of GDP, the deficit fell to 8.9 percent, down from 10.0 percent of GDP in FY 2009.

Looks like that "tax and spend liberal" Obama actually reduced the deficit (if only by 1.1% from FY 2009) Remember, the budget for the first part of the 2009 budget was not Obama's doing, it was actually a part of the former president's budget. In fact the 2010 budget was the first budget that Obama is actually to blame for.

The United States federal budget for fiscal year 2009 was a spending request by President George W. Bush to fund government operations for October 2008-September 2009. Figures shown in this article do not reflect the actual appropriations by Congress for Fiscal Year 2009.

en.wikipedia.org...

As you can see, the 2009 budget was actually from George W. Bush and not Obama up until September.

Now here's some more revisionist history that needs to be debunked as well.

TARP, (for those of you backing TEA party republicans, dats da munee day gave to dem der banker fellers)

The Troubled Asset Relief Program, commonly referred to as TARP, is a program of the United States government to purchase assets and equity from financial institutions to strengthen its financial sector which was signed into law by U.S. President George W. Bush on October 3, 2008. It is the largest component of the government's measures in 2008 to address the subprime mortgage crisis.

en.wikipedia.org...
www.federalreserve.gov...

What? Another thing that was done by George W. Bush and not the evil Obama? (GASP!)

And the fact is, for the most part, it was not a horrible deal even if it was done by Bush, because most of that money has already been paid back.

But if you insist on blaming this president for every ill of your life, the decent thing you can do is be correct about the things you blame him for.

reply to post by whatukno


Hey, a Trillion here, a Trillion there, pretty soon we are talking about some real money.

I just want a peak inside those Federal Reserve books and see the REAL money that has been moved around.

Does not really matter anyway. With the Fannie and Freddie debacle, the coming Commercial real estate collapse, the housing mortgage collapse, the government pension fund collapse, the Social Security and Medicare collapse, there will be no more dollar.

I have a few questions though.

Got Gold, got Lead, got Truth, got Self Reliance, got TEA?

reply to post by saltheart foamfollower


Sorry you don't like reality there saltheart, but them's the breaks. That's reality for you. It's not pretty but it's the truth.

Got Gold

And what are you shilling for gold line now? Have you prayed to your massa Beck today?

10 year gold chart-

[atsimg]http://files.abovetopsecret.com/images/member/3220602e95a1.png[/atsimg]


For those that do NOT realize this. Gold priced at US dollars does NOT equate the value of the gold, it equates the value of the DOLLAR.

Got Gold, got Truth, Got Lead, Got Tea?

Thought I would throw in the picture of lead for humor. 10 year lead price. Now, if you look into lead stock levels, you would see why that price went down when it did.

[atsimg]http://files.abovetopsecret.com/images/member/332ef23dbafd.png[/atsimg]

Attempting to equate Bush with money spent by the government is like saying that Mao was a cheeky fella for killing 70 million people.

Just for YOUR info, the House of Representatives sets the budgets. Just to keep you honest.

NOW, who has had control of Congress since 2006?

Hmmmmm?

reply to post by saltheart foamfollower


The only thing you have really managed to do here is betray your breitbart.tv handle. It's not like the GOP made gold prices rise.

Also, who signs those budgets therefore setting them into law?

reply to post by whatukno


Hey, I have gotten a viral thing going with that. I have seen others use it on a couple other sites. SWEEEET.

Yes, so the president signs the budgets. Does he create them?

Tell me wuk, have you heard about THIS?

Bush tryed 17 times to do something about Fannie and Freddie and the mortgage debacle.

That is a blog so here-

www.norcalblogs.com...

Both have video so, let you hear it from their own mouths. Hmmm, cannot argue with that.

I'll give you an A for effort on that spin, but I have some bad news for you. Obama's own budgets call for massive deficits the entire decade. According to their numbers, there will be some improvement through 2014, when the deficit will be around $700 billion, but will steadly increase from there to over $1 trillion by 2020. All told, even they expect an additional $8.5 trillion to be added to the national debt from 2011-2020.

But hey, don't take my word for it, you can read it straight from the source.

reply to post by saltheart foamfollower


Ok, time for some civics lessons for you because apparently your uncle Beck doesn't teach this at his university.

The actual people that create the budget is: Office of Management and Budget, which is a cabinet level post so that is a part of the Executive branch of the government.

They submit that budget to congress, who make changes to it, and then it gets sent BACK to the POTUS for him to sign.

BTW you don't have a viral thing going, no one else but YOU would use such a ridiculous catch phrase.

reply to post by vor78


The deficit and the debt are two different beasts entirely, both of which aren't good.

But let's take that budget into consideration...

Here is the deficits.

(2009 GWB/BHO) $1,413,000,000 (2010 BHO) $1,556,000,000 (2011 BHO) $1,267,000,000 (2012 BHO) $828 (2013 BHO/???) $727,000,000

After 2013 it could be a new POTUS and so the figures after 2013 are pretty much rubbish.

Look at that steady reduction in the deficit. I know it's not good as far as not having a deficit at all which would be optimal. But, it is going down steadily. This is from your link by the way.

Of course they could half that deficit if they just put half of the military budget on the chopping block.

reply to post by whatukno


Who is RESPONSIBLE for the budget. Hmmm, could care less about your divisive trick of attempting to pivot (Howard Dean) maneuver.

I raise your whatever and give you this-

The Congress shall have Power, hmmmm, wonder where I got THAT?

No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of Receipts and Expenditures of all public Money shall be published from time to time.

To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;

No Bill of Attainder or ex post facto Law shall be passed.

Included that last component because I wonder if they are going to attempt to pass that law that is sitting on Obama's desk? You know the one, the one that is going to clear all the banks, title companies and the other cronies in the mortgage financial debacle. You know, the one where FRAUD and CORRUPTION caused by the Congress forcing banks to give loans to those that could not pay them back.

What do you think about that part on bankruptcies. Now tell me. Since the GM takeover did not follow bankruptcy law and the government STOLE from the bondholders, do you think THAT is an impeachable offense?!

Just because YOU want to attribute all the responsibility on one person or one party, does not mean I do.

There are CRIMINALS in both parties. They break the law constantly and commit treason by their actions to subvert the Constitution and the rule of law.

reply to post by whatukno


Decreasing, yes, but its decreasing from the current level of absolute absurdity. Even the low end projections for 2014 of around $700 billion would easily shatter any deficit record prior to FY2009. Its still a gigantic deficit.

reply to post by vor78


You are correct, it is a gigantic deficit and yes that isn't good. However, it's the truth instead of the right wing spin of spiraling out of control spending. The right makes it look much worse than it already is.

Don't get me wrong, I know it's bad. deficits are bad, and the government should live within it's means, however I just wanted to show that it's not as bad as the right would make you believe.

reply to post by whatukno


just out of curiousity

was the stimulus bill considered into the budget?
or the care act?
or the clean water act?

hmm lets see is any bill or "emergency bill" considered in to budget at any given time.

with the new consumer protection agency and the hundreds of new government agencies ?


sorry man just because obama says hes going to be within a certain amount it means he isnt going to be anywhere near that.

i think we are also forgetting descretionary spending.

debts matter defict matters it all matters and obama is a politician which means innately HES A LIAR!

reply to post by whatukno


You lyin sack of < SNIP>, I came to this thread expectin to listen to some awesome blues songs and you got nothin but the usual political bickering here.


If you're gonna make a blues thread, you at least gotta include some music, otherwise you're just a FRAUD!




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