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Obama States He Cut The Deficit By Half -This One Is For Obama Lovers

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posted on Oct, 17 2013 @ 06:17 AM
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reply to post by Kali74
 


Here, Robin Leech has a message for you. Frankly this video scares me because it reaffirms what I have been saying all along. Wakeup call! And yes he does mention the debt.




it's horrifying what this man has led America into.


edit on 17-10-2013 by elouina because: (no reason given)




posted on Oct, 17 2013 @ 07:06 AM
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reply to post by elouina
 





And please also explain how the debt and deficit are not related. Each years deficit is tacked onto the debt balance. The deficit just doesn't fall off the face of the earth at the end of the year.


Yes whatever the deficit is each year gets tacked onto the national debt however that doesn't make them the same thing. A lot of people confuse the two and think they are the same thing. Obama stating that he cut the deficit in half is not Obama saying he cut the national debt in half.

In 2009 the Federal Deficit was 1.4 Trillion, in 2012 the deficit fell to 1.1 Trillion the projected 2013 deficit is 900 Billion... so not quite half, you may begin impeachment hearings now.



posted on Oct, 17 2013 @ 03:13 PM
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Kali74
reply to post by elouina
 





And please also explain how the debt and deficit are not related. Each years deficit is tacked onto the debt balance. The deficit just doesn't fall off the face of the earth at the end of the year.


Yes whatever the deficit is each year gets tacked onto the national debt however that doesn't make them the same thing. A lot of people confuse the two and think they are the same thing. Obama stating that he cut the deficit in half is not Obama saying he cut the national debt in half.

In 2009 the Federal Deficit was 1.4 Trillion, in 2012 the deficit fell to 1.1 Trillion the projected 2013 deficit is 900 Billion... so not quite half, you may begin impeachment hearings now.


So let me see if I got this right... Since Obama went on a manic spending spree with our tax dollars and spent more in one year than most spend in their entire terms, this is now the top figure that you are basing this "cut in half" rationale on?

Do you realize that this supposed "cut in half" deficit is still larger than any president has ever had in the HISTORY OF THE US? Plus this was mostly a forced diet by the sequester cuts.

By the end of this year, the US Debt will have gone up by about 7 trillion during his presidency. It was at around 10 trillion when he came into office.

---Combined US debt for EVERY president before Obama = 10 trillion

---US debt for Obama's last 5 years = 7 trillion (5 years worth of deficits add up don't they?)

---2013 US debt 17 trillion dollars!


For some truth in advertising, here is how Obama should have worded this.

"Although it is still totally out of control, I cut my reckless spending by half!"


edit on 17-10-2013 by elouina because: (no reason given)



posted on Oct, 17 2013 @ 03:18 PM
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Meh, just wait until the costs for Obamacare are added to the deficit. I'm sure he won't be singing the same tune.

Also keep in mind that Obama is already talking about ending the Sequester. Apparently, ten years is too long to save money, we've saved enough as it is and need to ramp up the spending again.

One more point, the deficit being brought down has much to do with the Republicans, but Obama is taking credit for it. We all know if he had his way that the deficit would be right where it was last year, if not higher.



posted on Oct, 17 2013 @ 07:08 PM
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reply to post by elouina
 


You know... I really hate defending that man. I hate myth worse though.



Since Obama went on a manic spending spree with our tax dollars and spent more in one year than most spend in their entire terms


This is a ridiculous statement that a quick search can help clear up for you.



He's also spending at a much slower rate than any other President in decades.





By the end of this year, the US Debt will have gone up by about 7 trillion during his presidency. It was at around 10 trillion when he came into office.


Yes it was around 10 Trillion at the end of Bush's 2nd term. Do you know what the national debt was when Bush took office? 5.7 Trillion. So GW raised it almost 5 Trillion and don't forget much of his economic policies are still in place. Maybe Obama shouldn't have counted on retaining both houses and focused on the budget instead of healthcare. But please stop peeing on peoples legs and telling them it's raining, we are likely not ever going to recover from Bush's presidency.



posted on Oct, 17 2013 @ 07:14 PM
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reply to post by elouina
 


Sadly this days politicians make a mockery from those that do not understand how the political game is played, with promises and good wishes.

See predictions and expectations are not real, this is the way that the government can paint a brighter future when is none, as people tend to have short time memories and forget about the promises.

I wonder where are today those same words that Bush spoke about predictions and expectations about the deficit when he was in power, to this day the deficit has gotten bigger and the debt keep growing everyday.

People remember is all a lie, he is lying now and will lie until the day he is off the office.



posted on Oct, 17 2013 @ 07:20 PM
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reply to post by Kali74
 


Sorry to say this but this numbers do not add up with the reality of the national debt in America right now, since Obama took office.

As in March of 2012


(CBS News) The National Debt has now increased more during President Obama's three years and two months in office than it did during 8 years of the George W. Bush presidency.


The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.


The latest posting from the Bureau of Public Debt at the Treasury Department shows the National Debt now stands at $15.566 trillion. It was $10.626 trillion on President Bush's last day in office, which coincided with President Obama's first day.


The National Debt also now exceeds 100% of the nation's Gross Domestic Product, the total value of goods and services.


Mr. Obama has been quick to blame his predecessor for the soaring Debt, saying Mr. Bush paid for two wars and a Medicare prescription drug program with borrowed funds.


The federal budget sent to Congress last month by Mr. Obama, projects the National Debt will continue to rise as far as the eye can see. The budget shows the Debt hitting $16.3 trillion in 2012, $17.5 trillion in 2013 and $25.9 trillion in 2022.


Federal budget records show the National Debt once topped 121% of GDP at the end of World War II. The Debt that year, 1946, was, by today's standards, a mere $270 billion dollars.


www.cbsnews.com...


edit on 17-10-2013 by marg6043 because: (no reason given)



posted on Oct, 17 2013 @ 07:23 PM
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Cabin
reply to post by elouina
 


Technically he is right...

Despite the deficit being still high, it is half what is was 4 years ago. In 2009 the deficit was over 1.3 trillion, this year it expected to end at around 650 billion.

1.3 trillion / 2 =650 billion


No, it is going to be more like 850 billion.

The 1.3 trillion was his first year, bushes last year was about 800 billion. So you could easily say he hasn't reduced the deficit at all.



posted on Oct, 17 2013 @ 07:26 PM
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reply to post by marg6043
 


We're not talking debt, we're talking deficit. There's a difference between the two.


Definition of 'Debt'
An amount of money borrowed by one party from another. Many corporations/individuals use debt as a method for making large purchases that they could not afford under normal circumstances. A debt arrangement gives the borrowing party permission to borrow money under the condition that it is to be paid back at a later date, usually with interest.

www.investopedia.com...


Definition of 'Deficit'
The amount by which expenses exceed income or costs outstrip revenues. Deficit essentially refers to the difference between cash inflows and outflows. It is generally prefixed by another term to refer to a specific situation - trade deficit or budget deficit, for example. Deficit is the opposite of "surplus" and is synonymous with shortfall or loss.

www.investopedia.com...

The deficit is what is being talked about. The debt has grown outrageously, but the deficit has dropped.
edit on 10/17/2013 by Zaphod58 because: (no reason given)



posted on Oct, 17 2013 @ 07:49 PM
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reply to post by Zaphod58
 


Got you,You are right I also found more information on the deficit, from Marketwatch

www.marketwatch.com...



posted on Oct, 17 2013 @ 08:20 PM
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reply to post by marg6043
 


Don't give in too soon here. The national debt is the accumulation of yearly deficits and interest. You know everyone in the Obama camp is too quick to point out the difference. As if to sway the topic, make folks bow down in disgrace, and then back off. Why are they not explaining the difference and relationship in non technical terms like I am?

Yes they are 2 different things, but each years deficit is a part of the debt. The deficit just doesn't disappear into a black hole every year. Although more complicated, they are taking Obamas's year end deficit, and heaping it on to the debt at the end of the year. And then starting his deficit over with a clean slate at the start of the year.

The national debt that we have accumulated in all of history, will have increased 58% (7 trillion dollars) in only the 5 years of Obama's presidency. And you can thank Obama's yearly deficits for this.



posted on Oct, 17 2013 @ 08:26 PM
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reply to post by elouina
 


They're related to each other, but that doesn't mean that the deficit hasn't been cut. You can cut the deficit without cutting the debt, and vice versa. I can have a huge deficit, and very little debt. Or a tiny deficit and huge debt.

While they're connected they're also separate.

Were you this passionate when Bush was spending ridiculous amounts of money and driving the debt up? The debt went from $5.6T to $10T, and publicly held debt almost doubled from $3.5T to $6T under Bush. But somehow our financial problems are Obama's fault?



posted on Oct, 17 2013 @ 08:31 PM
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reply to post by elouina
 
T

Trust me, you don't have to be genius to figure where we are on spending that never is going to be pay back, because even Obama love spending, and this time he cannot blame it on wars and neither on Bush anymore.



posted on Oct, 17 2013 @ 08:32 PM
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reply to post by Zaphod58
 


During the first two years of Obama he could blame the deficit and debt on Bush wars, sadly no anymore, now the debt and the deficit is all Obama.



posted on Oct, 17 2013 @ 08:35 PM
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reply to post by marg6043
 


I'm not saying that it isn't his fault. But people act so outraged over Obama's spending, when Bush pushed the debt up over $4T in his term. But you never hear about that.



posted on Oct, 17 2013 @ 08:41 PM
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Zaphod58
reply to post by elouina
 


They're related to each other, but that doesn't mean that the deficit hasn't been cut. You can cut the deficit without cutting the debt, and vice versa. I can have a huge deficit, and very little debt. Or a tiny deficit and huge debt.

While they're connected they're also separate.

Were you this passionate when Bush was spending ridiculous amounts of money and driving the debt up? The debt went from $5.6T to $10T, and publicly held debt almost doubled from $3.5T to $6T under Bush. But somehow our financial problems are Obama's fault?


Was I as passionate about Bush's spending? You bet your sweet bottom I was.

As for cutting the deficit, perhaps Obama should say what it has been cut from vs. a deceiving general statement. You have to admit, the omission of information is just as good as lying. This way we and others can have this very same argument as to whether he was lying or not.

Was it half of any other presidents deficit? No in fact it will be nearly double of the highest deficit ever held by a previous president.

What is happening here is that Obama is comparing his spending to his own, which was outrageously high in the first 4 years.



posted on Oct, 17 2013 @ 08:45 PM
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reply to post by elouina
 


But a cut is a cut. If you spent $3000 on credit cards the first four years you had them, but then dropped it to $1300, didn't you cut your spending, and cut your deficit? What's the difference? It doesn't matter if he's comparing it to his own spending, it's still a cut.


(post by Hydrawolf removed for a serious terms and conditions violation)

posted on Oct, 17 2013 @ 08:54 PM
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The Obama crowd just can not come out and say that Obama is wrong- EVER.
They will say "Im not saying he is right"...but never "Obama is wrong".
Funny in a way isnt it.

The deficit gets added to the debt. End of story. If he really wanted to impress me- he wouldnt have a deficit, or a very low deficit number, that way- the debt wouldnt rise.

Its simple really.

But his crew likes to play word games and not point out the obvious that this president is not very
good at managing the countries money or priorities. He spends peoples money like a 25 year old woman would married to a 85 year old billionaire on the verge of death.

Im not the greatest at math-Im decent- but this is simple addition and subtration here people.

You cant just ignore the problems and not place blame where blame is due.

and please- stop with the Bush sidestepping- its getting really pathetic. If only you could be so vocal about Obama as you were Bush- then maybe people might take you more seriously. People are not as stupid as you hope that they are.



posted on Oct, 17 2013 @ 08:57 PM
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reply to post by Common Good
 


Obama is wrong.

There, I said it. I'm not an Obama supporter by any stretch of the imagination. But debt and deficit are two different things. And no matter how you slice it, under Bush the debt went from just under $6T to $10T, and there wasn't nearly as much outrage.




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