Basic Economics

Discussion in 'Too Hot for Swamp Gas' started by texigator, Oct 7, 2013.

  1. 92gator
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    92gator Well-Known Member

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    Just quoting this baby before you can edit it.

    It's a priceless specimen of neo-libby ignorance. :tongue:
  2. fastsix
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    fastsix Well-Known Member

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  3. ga8orman1
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    ga8orman1 Premium Member

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  4. ga8orman1
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    ga8orman1 Premium Member

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    Let's correct a few things here. The budget Bush signed had a deficit of $200B (revenue of $2.7, expenditures of $2.9). The final revision to that budget signed by Obummer added $200B more expenditures for a total budgeted deficit of $400B. The budget was for the period 10/1/2008 - 9/30/2009. That is nine months on Obummer's watch. The ultimate deficit was due to over spending by $250B (Obummer spending by the way) and less revenue than budgeted (due to Reid and Pelosi holding Bush hostage with their far left extreme positions since 2006 resulting in the greatest econiomic crisis in decades (Yes, this was the Reid/Pelosi crisis). If you even try to argue that Reid and Pelosi are not FAR left you will just be showing your ignorance.

    It is just so convenient for you lefties to attribute the 2009 budget all to bush and none to Congress or Obummer. It scews your subseqeunt percentages greatly. You may not be smart enough to figure this out. But I am.
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  5. gatorpa
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    gatorpa Well-Known Member

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    I fought with this poster 6 months ago about the same think, he was here under another name. Beware he like to flip back and forth using deficit, but inferring Debt when it suits him. Ask about Obama's massive increase in the debt. He will tirade straight to a song and dance about "cons crying about the debt now, but the guy you voted in doubled the debt." All the while never answering up for Obama's disaster.
  6. rpmGator
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    rpmGator Well-Known Member

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    Every decision has an economic cost. But building infrastructure that will
    last for decades gives jobs as well as that new bridge. Making the cost a smart cost
  7. Row6
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    Row6 New Member

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    Maybe not.

    ""Fiscal 2009 began Oct. 1, 2008. That was before Obama was elected, and nearly four months before he took office on Jan. 20, 2009.

    President Bush signed the massive spending bill under which the government was operating when Obama took office. That was Sept. 30, 2008. As The Associated Press noted, it combined “a record Pentagon budget with aid for automakers and natural disaster victims, and increased health care funding for veterans returning from Iraq and Afghanistan.”

    Bush also signed, on Oct. 3, 2008, a bank bailout bill that authorized another $700 billion to avert a looming financial collapse (though not all of that would end up being spent in fiscal 2009, and Obama later signed a measure reducing total authorized bailout spending to $475 billion).

    On Jan. 7, 2009 — two weeks before Obama took office — the nonpartisan Congressional Budget Office issued its regular budget outlook, stating: “CBO projects that the deficit this year will total $1.2 trillion.”

    CBO attributed the rapid rise in spending to the bank bailout and the federal takeover of Fannie Mae and Freddie Mac – plus rising costs for unemployment insurance and other factors driven by the collapsing economy (which shed 818,000 jobs in January alone).

    Another factor beyond Obama’s control was an automatic 5.8 percent cost of living increase announced in October 2008 and given to Social Security beneficiaries in January 2009. It was the largest since 1982. Social Security spending alone rose $66 billion in fiscal 2009, and Medicare spending, driven by rising medical costs, rose $39 billion.

    How Much Did Obama Add?

    But it’s also true that Obama signed a number of appropriations bills, plus other legislation and executive orders, that raised spending for the remainder of fiscal 2009 even above the path set by Bush. By our calculations, Obama can be fairly assigned responsibility for a maximum of $203 billion in additional spending for that year.
    It can be argued that the total should be lower. Economist Daniel J. Mitchell of the libertarian CATO Institute — who once served on the Republican staff of the Senate Finance Committee — has put the figure at $140 billion.
    .."​

    http://www.factcheck.org/2012/06/obamas-spending-inferno-or-not/
  8. gatorpa
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    gatorpa Well-Known Member

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    Anybody know how much in NEW Obamacare taxes have been collected this year?

    Just asking because collecting money before having to pay expenses is a great way to help your budget deficit.
  9. ga8orman1
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    ga8orman1 Premium Member

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    The bank bailout was not part of Bush's signed budget. We all know this was a one-time appropriation that was done out of emergency. Are you now saying this should not have been done? You cannot put this on Bush since it was Reid and Pelosi in congress who caused the collapse in the first place. Bush was trying to save it. Also, just because an appropriation was made does not mean you are required to spent it. Obama spent it. This is the problem with government accounting. They think they need to spend 100% of appropriations so that their allotment in the next budget does not get reduced. This is also why Obama and Reid have not and will not present a budget proposal without this increased level of spending built in. That is why we keep needing to pass CR's which just keeps expenditures as is.

    I don't know how anyone can think that bank bailout was meant to be a recurring level of expenditure. Obama has kept it a recurring level. To make a true comparison, using your brain, you would remove the one-time bailout in comparing year over year expenditures and deficits. Playing with numbers to make your case look good is easy for all of us to do. To really think and go behind the numbers takes effort. Exert yourself.
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  10. gatorpa
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    gatorpa Well-Known Member

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    Repped
  11. Gatorrick22
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    Gatorrick22 Well-Known Member

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    What deficit are you talking about? The 17 trillion dollar deficit? 17 trillion dollars means that Obama has spent 7 trillion dollars all by himself and that is a real deficit he can't run away from.
  12. Gatormb
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    Gatormb Well-Known Member

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    7....8....9....10. It's over!!!! 92 in a KO in the third round (page 3)!!!!

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