Debt
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Started by cliff-e - Nov. 13, 2018, 8:03 a.m.

Trump's fake economy and gov't bungling is slowly strangling the US.

http://www.zerohedge.com/news/2018-11-12/economic-consequences-debt

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Re: Debt
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By TimNew - Nov. 13, 2018, 12:57 p.m.
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I remember you saying the exact same sort of thing when Obama was running nearly twice the annual budget deficit..


Oh wait.....

Re: Debt
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By cliff-e - Nov. 13, 2018, 7:59 p.m.
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Re: Re: Debt
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By TimNew - Nov. 14, 2018, 4:50 a.m.
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From your article,  Obama's budget's exceeded 1 trillion, some by large margins, for his 1st 4 years, all, averaging about 500 billion higher than FY '18.   This is without accounting for inflation or GDP growth.  In his favor, inflation was very low during Obama's tenure as a byproduct of the stagnant growth.

That's to funny
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By frey_1999 - Nov. 14, 2018, 6:18 a.m.
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Obama comes into office to an economy that was shedding 750k jobs a month. Trump into a. Economy that was adding 200k jobs a month with 75 consecutive months increasing job growth.  Obama inherited a budget with a 1.4 trillion deficit and lowered it every year of his presidency to the point in 2015 that it was lower than the pre 2008 crisis debt.

Trump came into office with a yearly defiect of 540 billion and with  complete control of all aspect of government  has increased the debt every year since  to where it will be back above 1 trillion a year.

And somehow your trying to paint that as a good deal for America. 


WOW is all I can say

By TimNew - Nov. 14, 2018, 8:39 a.m.
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"Obama comes into office to an economy that was shedding 750k jobs a month. Trump into a. Economy that was adding 200k jobs a month with 75 consecutive months increasing job growth.  Obama inherited a budget with a 1.4 trillion deficit and lowered it every year of his presidency to the point in 2015 that it was lower than the pre 2008 crisis debt.

Trump came into office with a yearly defiect of 540 billion and with  complete control of all aspect of government  has increased the debt every year since  to where it will be back above 1 trillion a year.

And somehow your trying to paint that as a good deal for America. "


WOW is all I can say"


Wow is about right. I often wonder how many errors can be made with the fewest words, and you continue to exceed my expectations. In spite of the fact that you have been shown documented numbers that disprove your claims,  you continue to make them.  

Obama did get an economy in serious trouble,  but he showed up at a flood with a firehose spending the next 8 years blaming his predecessor.  But let's move on.

1st, you claim Obama inherited a 1.4 trillion dollar deficit.  The deficit the year before he took office was 459 billion.  He started with a budget passed by a dem senate, never signed by Bush, then added 800+ billion in stimulus that accomplished almost nothing.  And this you call an inheritance? A lowering deficit every year after a record devastating year is not a large accomplishment.

Then you say he lowered the deficit every year of his presidency until 2015 when it was lower then the pre-crisis level. 438 vs 459?

The "540 billion deficit" is off by a mere 45 billion,  but I guess that's a nit tho it is a bigger difference than when you bragged about Obama's lowest. Does it matter that the deficit then increased in each of his two remaining years? Is that what you meant when you said he lowered the deficit every year UNTIL 2015? Were you one of the ones vilifying pubs for their evil cuts while crediting Obama with reducing the deficit?

You go on to say that Trump has increased the debt "Every Year" when he has had only one complete fiscal year.  So,  I guess we could say he has raised it "EVERY YEAR",  but that seems at best a bit misleading.  Also,  we have not yet seen the full effect of his tax cut and we won't even see a good indication until next April when the personal income taxes of the millions of additional workers with the highest income growth in about a decade are collected.  The forecasts of trillion plus deficits remains an Obama phenomenon and very probably will remain so for the foreseeable future.

Finally,  I never made the point that this is somehow a good deal for America.  I  pointed out the obviously feigned concern/outrage in the IP over these "soaring" deficits which literally pale in comparison to Obama's 1st 4 years.

So yeah, I guess WOW is about right.  You are a confirmed Obama apologist who claims to have voted pub most of his life....



2008$459$1,017  3.1%Bank bailout. QE.
2009$1,413$1,632  9.8%Stimulus Act.
2010$1,294$1,905  8.6%Obama tax cuts. ACA. Simpson-Bowles.
2011$1,300$1,229  8.3%Debt crisis.
2012$1,087$1,276  6.7%Fiscal cliff
2013$679$672  4.0%Sequester. Government shutdown
2014$485$1,086  2.7%Debt ceiling.
2015$438$327  2.4%Defense = $736.4 b.
2016 $585$1,423  3.1%Defense = $767.3 b.
2017$665$672  3.4%Defense = $812.3 b.



Re: Debt
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By cliff-e - Nov. 14, 2018, 3:44 p.m.
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The real numbers...

http://www.usdebtclock.org/#

Re: Debt
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By bear - Nov. 14, 2018, 4:04 p.m.
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debt may have 2 very different effects.  

long term,  too much can be very bad.

short term,  it may not hurt us right now.   

so you cannot always draw a corelation  between whether fed debt goes up or down this year, and whether the u.s. economy grows, or not this year.  

my prognosis,... tax cuts have been good for business. 

tax cuts are ok, if you also cut spending.   

if you don't cut spending, then long term the debt can be very bad for us.  

more on this later.

Re: Re: Debt
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By TimNew - Nov. 15, 2018, 3:32 a.m.
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The real numbers?   OK.  Since you want to use snap shots... How many of those real dollars were added under Obama's admin,  and how many under Trump's?

Re: Debt
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By cliff-e - Nov. 15, 2018, 9:07 a.m.
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Once again...

http://www.newsweek.com/how-much-higher-are-trumps-budget-deficits-obamas-1069476

A 21% increase in one years time seems like a lot from someone who vowed to lower it. Promises promises....

Re: Re: Debt
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By TimNew - Nov. 15, 2018, 9:54 a.m.
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Once again, below are the RAW DOLLARS unadjusted for inflation or GDP. Trump's deficit PALES IN COMPARISON to the numbers we saw under Obama.   But,   you have demonstrated repeatedly that you want to be concerned over Trump, NO MATTER WHAT and REGARDLESS of any data that conflicts with your hard wired preconceived notions.


In your mind, TRUMP's DEFICITS are HIGHER that Obama's EVER WERE!!!  END OF DISCUSSION... PERIOD.. EXCLAMATION POINT!!!.


I knew I was beating a dead horse going into this discussion,  but I sometimes will beat a dead horse.  And I really wanted to see if there was a bottom to the depths of your preconceived hard wired notions.  Apparently, there is not.


Have a nice day  :-)


2008$459$1,017  3.1%Bank bailout. QE.
2009$1,413$1,632  9.8%Stimulus Act.
2010$1,294$1,905  8.6%Obama tax cuts. ACA. Simpson-Bowles.
2011$1,300$1,229  8.3%Debt crisis.
2012$1,087$1,276  6.7%Fiscal cliff
2013$679$672  4.0%Sequester. Government shutdown
2014$485$1,086  2.7%Debt ceiling.
2015$438$327  2.4%Defense = $736.4 b.
2016 $585$1,423  3.1%Defense = $767.3 b.
2017$665$672  3.4%Defense = $812.3 b.