It’s Official: 2012 Deficit Was $1.087T; $1T+ All 4 Yrs of Obama’s 1st Term

Someone is clearly trolling for whatever reason:

President Obama's Legacy: $20 Trillion in Debt for 2016 Victor

That is double from when he took over.

Shrinking ?

The deficit is shrinking ?

Originally posted by aoxomoxoa
So you will ignore the fact that the deficit and unemployment are decreasing under Obama?

DEAD WRONG. (and go read what I posted about debt vs deficit)
Unemployment table by year
CBS - national debt has increased more under Obama than Bush
Factcheck.org - Obama's Deficit Dodge

President Obama is falsely claiming that his administration’s policies are responsible for “about 10 percent” of the deficits “over the last four years.” The cumulative deficit during that time is nearly $5.2 trillion. Obama signed two bills — the 2009 stimulus and the 2010 tax cut — that alone cost $1.6 trillion during that time, or nearly a third of the cumulative four-year deficit. ...

Obama’s response leaves the false impression that President George W. Bush and the 2008 recession are responsible for a whopping 90 percent of the deficits in the last four years. It’s true that Obama “inherited the biggest deficit in our history,” as he said on CBS. By the time Obama took office in January 2009, the nonpartisan Congressional Budget Office had already estimated that increased spending and decreased revenues would result in a $1.2 trillion deficit for fiscal year 2009, which began Oct. 1, 2008. In a detailed analysis of fiscal year 2009, we found that Obama was responsible for adding at most $203 billion to the deficit, which in the end topped $1.4 trillion that year.

But that was just the first of four years of trillion-plus deficits. The last three budgets fall squarely under Obama. And, during that time, the federal government ran up deficits of $1.3 trillion in 2010, $1.3 trillion in 2011, and about $1.2 trillion in the fiscal year that ends Sept. 30 — for a total of nearly $5.2 trillion in deficit spending.

That federal spending growth under Obama is the lowest in decades?

DEAD WRONG AGAIN
Forbes

n fact, you have to go back to 1946 to find a year when federal outlays were as large as they have been every year of the Obama presidency.

Each of Mr. Obama’s annual deficits has been larger than any since the 1940s. Deficits aggregate into debt, ...

Originally posted by aoxomoxoa
Flyers fan- you really need to understand that there is a difference vetween debt and deficit.

Again .... it's tied together ....

Treasury Direct - Difference between Debt and Deficit

One way to think about the debt is as accumulated deficits.

AARP What's the Difference Between Debt and Deficit

You can think of the total debt as accumulated deficits plus accumulated off-budget surpluses

Originally posted by neo96
Someone is clearly trolling for whatever reason:

President Obama's Legacy: $20 Trillion in Debt for 2016 Victor

That is double from when he took over.

Shrinking ?

The deficit is shrinking ?

Yes the deficit is shrinking. You are talking about debt, which is different. Not sure why that is so hard to understand

Originally posted by aoxomoxoa
So you will ignore the fact that the deficit and unemployment are decreasing under Obama?

Unemployment table by year

Let's take the unemployment statement first.
Look at the unemployment table. Unemployment is not decreasing under Obama.
It hovered way up around 9.0% for a very long time. It's still higher than under Bush43.

And now for the REAL numbers by years ....
Labor force participation - nosedived during Obama years.
Civilian employment to population ratio .. yikes!

Originally posted by aoxomoxoa
Yes the deficit is shrinking. You are talking about debt, which is different. Not sure why that is so hard to understand

The debt is as accumulated deficits. Not sure why that is so hard to understand.
It's tied together. Did you read the links I provided ... TWICE?

Originally posted by FlyersFan

Originally posted by aoxomoxoa
So you will ignore the fact that the deficit and unemployment are decreasing under Obama?

DEAD WRONG. (and go read what I posted about debt vs deficit)
Unemployment table by year
CBS - national debt has increased more under Obama than Bush
Factcheck.org - Obama's Deficit Dodge

President Obama is falsely claiming that his administration’s policies are responsible for “about 10 percent” of the deficits “over the last four years.” The cumulative deficit during that time is nearly $5.2 trillion. Obama signed two bills — the 2009 stimulus and the 2010 tax cut — that alone cost $1.6 trillion during that time, or nearly a third of the cumulative four-year deficit. ...

Obama’s response leaves the false impression that President George W. Bush and the 2008 recession are responsible for a whopping 90 percent of the deficits in the last four years. It’s true that Obama “inherited the biggest deficit in our history,” as he said on CBS. By the time Obama took office in January 2009, the nonpartisan Congressional Budget Office had already estimated that increased spending and decreased revenues would result in a $1.2 trillion deficit for fiscal year 2009, which began Oct. 1, 2008. In a detailed analysis of fiscal year 2009, we found that Obama was responsible for adding at most $203 billion to the deficit, which in the end topped $1.4 trillion that year.

But that was just the first of four years of trillion-plus deficits. The last three budgets fall squarely under Obama. And, during that time, the federal government ran up deficits of $1.3 trillion in 2010, $1.3 trillion in 2011, and about $1.2 trillion in the fiscal year that ends Sept. 30 — for a total of nearly $5.2 trillion in deficit spending.

That federal spending growth under Obama is the lowest in decades?

DEAD WRONG AGAIN
Forbes

n fact, you have to go back to 1946 to find a year when federal outlays were as large as they have been every year of the Obama presidency.

Each of Mr. Obama’s annual deficits has been larger than any since the 1940s. Deficits aggregate into debt, ...

Your sources are talking about debt. The only mention of deficit is in the factcheck link. And they even got the number wrong for 2012. Yes, Obama's deficits have been over 1 trillion dollars every year. But the number is shrinking. His first year (after the Bush economic crash) it was 1.6 tr. It has decreased steadily each year, and will be under 1 tr. for fiscal year 2013. It will be under 300 billion by the time Obama leaves office, according to all projections. Again- that is a decrease.

Originally posted by FlyersFan

Originally posted by aoxomoxoa
Yes the deficit is shrinking. You are talking about debt, which is different. Not sure why that is so hard to understand

The debt is as accumulated deficits. Not sure why that is so hard to understand.
It's tied together. Did you read the links I provided ... TWICE?

yes I addressed your links. The OP was referring to deficits, not debt. That is why I am duscussing the shrinking deficit

Originally posted by poet1b

This clearly shows how bad the GW admin was.

Why are you deflecting?




Isnt this what we are talking about?

It’s Official: 2012 Deficit Was $1.087T; $1T+ All 4 Yrs of Obama’s 1st Term

reply to post by FlyersFan


You do know there was an economic crisis at the end of 2008, right? Millions of people lost their jobs and continued to lose their jobs through no fault of Obama's. So to say, "unemployment is higher under 44 than 43!" Is a little unfair.

Why do people so opposed to the president always seem to forget the collapse of the worldwide economy mere months before he showed up? As if massive unemployment, massive loss of tax revenue resulting in huge deficits and exploding debt are all the fault of the American voters on November 1, 2008. If only we'd voted for the other guy none of this would have happened!

Originally posted by neo96
reply to post by poet1b

 

Considering there are 50 million on welfare there were 60 million Americans on medicaid until the guy WHO IS THE TOPIC created the Care Act that added 30 million new people on to a program that already can't be paid for, who spent $800 billion dollars from stimulus(Bush didn't do that OBAMA DID) and since the government take over of student loans that now is at $1 trillion dollars.

Keep up with the deflections not a damn grain a truth to them.

Obama has increased the deficit massively, after claiming to cut it.

edit on 18-8-2013 by neo96 because: (no reason given)

I want to make a point here..

You are bitching that millions of Americans are on welfare right? they get billions for food stamps and this and that bla bla..

Let me ask you something, you think its cool that places like Halliburton and such get no bid contracts to go and repair places we helped destroy and then loose 1.5 tonnes of money? yes tonnes not millions..

This i think is illogical thinking to me, why not instead of whining about welfare and such start whining on how there are not alot of jobs around and the jobs that are around are either part time, underpaid, or temp positions...

Everything you people complain about with where all the money is going and you do not want to talk about all the crap we are starting or have started over seas, all the Muslim countries we are screwing with for no reason what so ever.. oh wait, oil.. lithium, water, whatever... So tf what... Bring the troops home stop spending on stupid crap, bring jobs back to America and that will be that.. I am sure if there were enough jobs in this country we wouldn't all be bitching about how screwed up things are...

Just got the record i didn't like bush and i don't like Obama, you people sit here and fight about stupid things all the time.. Meanwhile we borrow money from china who are taking jobs, yet we are willing to hand china all of our money because we goto walmart and buy crap that works for 2 minutes and have to go rebuy it.. There is you war, without them ever firing a single shot..

reply to post by links234

You do know there was an economic crisis at the end of 2008, right? Millions of people lost their jobs and continued to lose their jobs through no fault of Obama's. So to say, "unemployment is higher under 44 than 43!" Is a little unfair.

Nope that is called holding the current potus to the same standards that were set for the last one.

Why do people so opposed to the president always seem to forget the collapse of the worldwide economy mere months before he showed up?

Well it's 5 YEARS LATER the blame Bush excuse doesn't work of course it has never worked.

He wanted the job, and He got the job. and made big,big promises, and deleivered nothing.

As if massive unemployment, massive loss of tax revenue resulting in huge deficits and exploding debt are all the fault of the American voters on November 1, 2008.

Funny I thought people were holding that on Obama's head.

If only we'd voted for the other guy none of this would have happened!

Well that guy actually knew something about business unlike the current guy we have.

The money siphon that the Bush administration created will never be plugged by anything that Obama could possibly do in this administration. It may take a few more presidential terms, if they indeed occur before this engine starts to run lean. The facts are on paper, clear as day. 2 unpaid-for wars where unlike WW2, the majority of resources and raw materials (other than bodies) were drawn outside the U.S., which did not help much to stimulate our own economy. This fact will take us in to the next decade. Nothing else needs to be added until this is cleared.

reply to post by ThichHeaded

You are bitching that millions of Americans are on welfare right? they get billions for food stamps and this and that bla bla.

Actually that was not my argument at all nice twisting of a post though.

The argument that has been repeatedly made is that the debt/deficits have massively grown under the current regime.

Nice misrepresentation.

Let me ask you something, you think its cool that places like Halliburton and such get no bid contracts to go and repair places we helped destroy and then loose 1.5 tonnes of money? yes tonnes not millions..

Has exactly nothing to do with Obama running massive deficits.

This i think is illogical thinking to me, why not instead of whining about welfare and such start whining on how there are not alot of jobs around and the jobs that are around are either part time, underpaid, or temp positions...

Again has nothing to do with my comments in this thread.

Everything you people complain about with where all the money is going and you do not want to talk about all the crap we are starting or have started over seas, all the Muslim countries we are screwing with for no reason what so ever.. oh wait, oil.. lithium, water, whatever... So tf what... Bring the troops home stop spending on stupid crap, bring jobs back to America and that will be that.. I am sure if there were enough jobs in this country we wouldn't all be bitching about how screwed up things are...

Still has nothing to do with Obama running massive deficits after claiming to cut them.

Just got the record i didn't like bush and i don't like Obama, you people sit here and fight about stupid things all the time.. Meanwhile we borrow money from china who are taking jobs, yet we are willing to hand china all of our money because we goto walmart and buy crap that works for 2 minutes and have to go rebuy it.. There is you war, without them ever firing a single shot..

For the record Obama is running massive deficits which is the topic.

reply to post by neo96


No i picked your post to target because you are defending bush because well he isn't spending all as much as Obama..

Let me ask you something, of all this money that is being spent on whatever reason where is it actually helping anyone in this damn country? Notice also I don't agree with Obama care either..

Everything that is being spent on crap we don't need, Obama care, NSA spying on citizens, illegal wars, no bif contracts, the list goes on and one and one and on......

Nothing is even remotely spent on the reasons that need to be spent on.. come to think of it, we really don't need to be spending trillions of dollars on things Americans don't need..

You see, if we had real jobs in this country, and our money supply wasn't being watered down by the federal reverser we wouldn't be spending 100 dollars to eat for 5 days... see my point, unless you are completely missing it.

reply to post by ThichHeaded


in the OP video......

Obama talks about how he will cut the deficit in half during his first term - and why it's so important. Really? The 2008 budget deficit was 458 billion. Obama's proposed new budget for this year has a deficit of 1.1 TRILLION. For God's sake - WTF???

Sooooo....

IF Obama is going to cut it down to $223 Billion, who gets shafted?

Where does the money come from to support the wild insane spending ?

My point is we shouldn't be spending money on any of this crap.. we should have enough for a national defense, after that it should be up to the states and locals to decide what things that need to be done to get done... government is to big and all they are doing is ripping us for for garbage we don't need...

Kinda like a crap infomercial the only difference is you getting shafted whether you want to or not..

Arguing about the budget deficit really accomplishes nothing. As long as there is a deficit, the debt increases. The debt needs to be paid down, and we can't do that unless there is a budget surplus.

Now all I have to do is wait for a member to post that debt is good and that we can never payoff the debt anyway. I won't respond to that, because it is idiotic IMO and I have had that argument before.

reply to post by ThichHeaded

No i picked your post to target because you are defending bush because well he isn't spending all as much as Obama..

Well first off BUSH isn't the topic here that was stating the fact people are comparing a sitting Potus who has yet to complete his second term to a two term Potus that has been out of office for 5 years.

That is straight up intellectual dishonesty.

reply to post by butcherguy


I agree with butcherguy.

reply to post by neo96


Divide and Conquer awesome topic, just research it sometime.. It seems to work wonders... You really think how much money that is being spent has anything to do with what idiot is president?