It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
The President's budget for 2009 totals $3.1 trillion.
Wiki
The final spending bills for the budget were not signed into law until March 11, 2009 by President Barack Obama, nearly five and a half months after the fiscal year began.The United States federal budget for fiscal year 2009 began as a spending request by President George W. Bush to fund government operations for October 2008 – September 2009.
Originally posted by OutKast Searcher
reply to post by Golf66
Who is saying it is a "win"???
The OP is just exposing a Republican lie...and it seems like you bought it.
Originally posted by camaro68ss
•The last time the Senate passed a budget was on April 29, 2009.
•Since that date, the federal government has spent $9.4 trillion, adding $4.1 trillion in debt.
•As of January 20, the outstanding public debt stands at $15,240,174,635,409.
•Interest payments on the debt are now more than $200 billion per year.
•President Obama proposed a FY2012 budget last year, and the Senate voted it down 97–0. (And that budget was no prize—according to the Congressional Budget Office, that proposal never had an annual deficit of less than $748 billion, would double the national debt in 10 years and would see annual interest payments approach $1 trillion per year.)
•The Senate rejected House Budget Committee Chairman Paul Ryan’s (R–WI) budget by 57–40 in May 2011, with no Democrats voting for it.
•In FY2011, Washington spent $3.6 trillion. Compare that to the last time the budget was balanced in 2001, when Washington spent $1.8 trillion ($2.1 trillion when you adjust for inflation).
•Entitlement spending will more than double by 2050. That includes spending on Medicare, Medicaid and the Obamacare subsidy program, and Social Security. Total spending on federal health care programs will triple.
•By 2050, the national debt is set to hit 344 percent of Gross Domestic Product.
•Taxes paid per household have risen dramatically, hitting $18,400 in 2010 (compared with $11,295 in 1965). If the 2001 and 2003 tax cuts expire and more middle-class Americans are required to pay the alternative minimum tax (AMT), taxes will reach unprecedented levels.
•Federal spending per household is skyrocketing. Since 1965, spending per household has grown by nearly 162 percent, from $11,431 in 1965 to $29,401 in 2010. From 2010 to 2021, it is projected to rise to $35,773, a 22 percent increase.
.
Originally posted by OutKast Searcher
reply to post by Golf66
I see you aren't familiar with this new cool mathematic concept...it's call percentages.
You are either that horrible at math...or you are being intentionally dense to try to trick others who you know are dumb enough to buy it.
Ah yes, a blog.
blog.heritage.org...
Clearly blogs are always factually correct and never misleading.
I'll stick with my more reputable sources.
New data released today shows that the U.S. economy grew by 1.5 percent last quarter, following a revised increase of 2 percent in the first quarter. Republicans, of course, leaped on the middling number, with Speaker of the House John Boehner (R-OH) calling it “a troubling sign for the future of our economy.”
But GOP’ers neglect to mention that they repeatedly filibustered President Obama’s American Jobs Act in the Senate, after several independent economic analysts estimated that the bill would boost GDP by one to three percent.
- Goldman Sachs economists estimated that the AJA would increase GDP by 1.5 percent, before any multiplier effects.
- – Thomas Lam, of the economic advisory firm OSK-DMG, estimated that the bill would boost GDP by 1.8 percent.
- Macroeconomic Advisers estimated that the boost would be 1.3 percent.
- Mark Zandi, chief economist of Moody’s Economy, put the boost at 2 percent of GDP.
- The Economic Policy Institute estimated that the new initiatives in the AJA would increase GDP by 1.9 percent, while policy extensions it included would increase GDP by another 1.4 percent.
The Bring Jobs Home Act blocked after Republican filibuster.
Yesterday a bill was blocked in Congress that would have ended the tax credit for outsourcing jobs (where companies are REWARDED for outsourcing jobs to China and Mexico) and instead would have given a 20% tax credit to companies for bringing jobs BACK to America.
But ask yourself: Which of Obama’s policies added $4.7 trillion to the debt? The stimulus? That was just a bit more than $800 billion. TARP? That passed under George W. Bush, and most of it has been repaid.
There is a way to tally the effects Obama has had on the deficit. Look at every piece of legislation he has signed into law. Every time Congress passes a bill, either the Congressional Budget Office or the Joint Committee on Taxation estimates the effect it will have on the budget over the next 10 years. And then they continue to estimate changes to those bills. If you know how to read their numbers, you can come up with an estimate that zeros in on the laws Obama has had a hand in.
The Center on Budget and Policy Priorities was kind enough to help me come up with a comprehensive estimate of Obama’s effect on the deficit. As it explained to me, it’s harder than it sounds
Originally posted by ConspiracyBuff
Obama took office debt was 10.6 trillion.
Latest estimate debt is 14.6 trillion.
That’s 1 trillion a year.
He is on par with the Bush admin.
Nice try OP …