Deficit Now Projected at $1.8 Trillion for 2009

3…2…1…has to be Bush’s fault.

Of Course its Bushes Fault as well as the Republicans who held Congress for 6 Years!

U.S.Government Fiscal year began October 1, 2008, so yes it is his fault.
750 billion, TARP,
150 billion, Auto industry
War spending ongoing……began in 2002,
900 Billion, the first half of the deficit is Bush’s fault.

The fiscal responsibility BS reported by the Obamedia is given lie in this deficit.
Obama has spent in manner never imagined, and has had only his political interests, not the public good in mind.
Imagine Bush confiscating the Boeing corportation and handing it over to Halliburton, and the media sleeping like the dogs they are.
Well we have corrupt chicago criminal thug Obama doing just that by handing over GM and Chrysler to the United Auto Worker unions, and the media sleep like the scum dogs they are, while the billions of tax dollars invested in these corportations to “save them” are magically turned into campaign supporter payoffs.
There are so many stories to go along with unprecedented corruption we are witnessing. The deficit will very soon become massive tax increases for all.
The media is a co-conspirator in this corruption and will eventually be judged accountable as the US is dragged into a third world disaster from which WE WILL NEVER RECOVER!

You know, I don’t blame Obama for the deficit. I blame the branch of government that controls the purse strings for the deficit. You guys would too if democrats hadn’t been in charge of the purse strings for the past 2 years.

WAR SPENDING SINCE 2002 2 WARS So YES Its Bush and Republicans who got us into Debt and Blew up the Goverment!

Obama raised the stakes, 3.59 T budget, Republicans called his bluff, Obama through down a Full House/Senate and the Repubs folded….OBAMA TOOK THE POT..He has no one to blame…it’s his hand to win or lose and that is the game of chance with Obama, throwing the dice and hoping for the best…because it certainly is not based upon an experienced player…

Yep…
Obama is like FDR in this respect.
It’s not pretty. It’s not pleasant.
But as someone who has traveled to a few Third World countries, the alternative is much worse.
You can’t just let the economy collapse totally. Maybe it’s appealing to CATO institute types and the super-rich who already pay for their own security forces, but most people wouldn’t like it.

.because it certainly is not based upon an experienced player…
Posted by: Parallex View | May 11, 2009 12:44:07 PM
———-
He may not be experienced in doing the right thing for the US, but he sure is good at using the tax dollars to help himself.
He is so openly corrupt it is breathtaking!
Imagine Bush confiscating the Boeing corportation and handing it over to Halliburton, and the media sleeping like the dogs they are.
Well we have corrupt chicago criminal thug Obama doing just that by handing over GM and Chrysler to the United Auto Worker unions, and the media sleep like the scum dogs they are, while the billions of tax dollars invested in these corportations to “save them” are magically turned into campaign supporter payoffs.

Elmendorf added that the stimulus bill and “very aggressive actions by the Federal Reserve and the Treasury” will “help end the recession in the fall of 2009.”
—-
LOL. Not a chance. If anything, the government’s “very aggressive actions” are pushing us into an inflationary depression.
If there’s a bright side, Keynesian economic theory will finally be discredited and relegated to the trash heap of history, where it belongs.
The down side, of course, we’ll all go broke proving it doesn’t work.

“Elmendorf added that the stimulus bill and ‘very aggressive actions by the Federal Reserve and the Treasury’ will ‘help end the recession in the fall of 2009.’”
In January the Congressional Budget Office said that it would end in the second half of 2009 if there were no “stimulus” at all.

“proven by these posts,
Republicans have no answers…..just criticisms.
ELECTIONS HAVE CONSEQUENCES…so stop crying, go to your room, do your homework & come back and play biptartisin or NEW policy answers. “NO” will take you no-where.”
exactly…you’re on time out for being stupid …continue following your tired leaders Rush,Cheney,Gingrich & Hannity

MNM:” ACORN billions in payoffs for campaign cash and votes and all.”
Could you please cite specifically where the “ACRORN billions” are allocated? Or is this just another hysterical exageration based on the fact that ACORN – like everyone from the 700 Club to Planned Parenthood – will be submitting proposals to fulfill some of the activities funded under the stimulus bill?

Facist Hyena:”In January the Congressional Budget Office said that it would end in the second half of 2009 if there were no “stimulus” at all.”
First, as you have a history of grossly distorting reports by selective quoting could you please cite the report?
The CBO also promised a $5.6 trillion budget surplus from 2001-2010, completely retiring the (at that time) national debt. Where did those trillions go (that’s several times the cost of the Iraq war even)?
And what did the CBO say in Jan 2008? Opening the last year of the Republican administration, the Congressional Budget Office forecast that the slowing U.S. economy is unlikely to sink into an election-year recession and an economic rebound could begin as early as next year (2009) as housing and financial market turmoil fades.

You are right jhw that it is the infrastructure part of the bill, but isn’t that the heart of the stimulus?
Unemployment checks while good and compassionate do not stimulate the economy. Tax cuts will eventually stimulate but except for specialized tax breaks to turn around industries, in which the GOP was largely ignored, this will not effect 2009 stats.
Why do avoid the implications that govt domination of new construction like their flailing in the car, mortgage, and financial arenas, only serve to warp the market and not stimulate growth and are easily manipulable by elites and powerbrokers to serve special interests and not those in need?

The AP is actually reporting that although they are “set” to spend more in areas with highest unemployment, IT AIN’T HAPPENNING!
“Although the intent of the money is to put people back to work, AP’s review of more than 5,500 planned transportation projects nationwide reveals that states are planning to spend the stimulus in communities where jobless rates are already lower.
One result among many: Elk County, Pa., isn’t receiving any road money despite its 13.8 percent unemployment rate. Yet the military and college community of Riley County, Kan., with its 3.4 percent unemployment, will benefit from about $56 million to build a highway, improve an intersection and restore a historic farmhouse.
Altogether, the government is set to spend 50 percent more per person in areas with the lowest unemployment than it will in communities with the highest.”

Could you please cite specifically where the “ACRORN billions” are allocated? Or is this just another hysterical exageration based on the fact that ACORN – like everyone from the 700 Club to Planned Parenthood – will be submitting proposals to fulfill some of the activities funded under the stimulus bill?
Posted by: jhw539 | May 11, 2009 1:44:35 PM
———–
Let us imagine that ACORN, indicted and convicted in so many states for voter fraud, in favor of dems won’t get preferential treatment in spite of the fact that republicans tried to insert language barring these criminals from obtaining public funds, but dems of course blocked it.
Let us also imagine that Bush gave confiscated Boeing from it’s rightful owners and simply handed it over to Halliburton. The slime-bag press would have been screaming impeachment and it would have been done.
Yet they sit silent as Obama does the same thing, with one twist, he first inserted 100 billion dollars in bailout funds to GM and Chrysler and THEN GAVE IT TO HIS UNION SUPPORTERS. Then used his power to threaten them so they would give up! the rightful owners so they would shut up and hand it over quietly. Just like the street thug that Obama really is.
OBAMA IS THE WORST CORRUPT SCUM EVER TO HOLD OFFICE AND YOU IDIOTS ACTUALLY DEFEND HIM AS THOUGH THIS IS NOT HAPPENING.
Lets not forget that he threatened to withhold the stimulus funds from california if they balance the budget by cuttin SEIU union worker salaries. They have no problem if Ca cuts anyone elses salary but lord obama will protect the unions EVEN IF CALIFORNIA GOES BANKRUPT.
AS CALIFORNIA GOES, SO GOES THE US!

jwh, why is Nanny Pelosi obstructing bipartisan efforts to tackle SS, Medicaid, Medicare? Kent Conrad would like to know. And Steny Hoyer would too.

“Let us imagine that ACORN, indicted and convicted in so many states for voter fraud…”
We would have to have an extra ordinary imagination since no one in ACORN has ever been convicted of voter fraud. A few people were convicted of voter registration fraud for trying to rip-off ACORN.

Wrong numbers. The deficit quadruples any record set and is fully in Obama’s lap. Union and ACORN billions in payoffs for campaign cash and votes and all.
Can you show me where ACORN or Unions are getting appropriated from the FY 09 or FY10 budget?

GOP preach ACORN but cannot provide one legit site where ACORN has received any tax payer money under the current administration.

Does the stimulus bill include a $5.2 billion payoff for ACORN?
I would appreciate having FactCheck look into whether ACORN will receive $5.23 billion from the Obama stimulus package under the guise of “stabilizing neighborhoods.”
A: The bill does include funds for which ACORN would be eligible to compete – against hundreds of other groups. But most is for a housing rehabilitation program ACORN says it never applied for in the past and won’t in the future.factcheck.
Now, the fact ACORN is only eligible to receive funds not that it has receive funds. It goes without saying that the n-cons do not read or comprehend well. Its true.

3.8 Trillion budget. 1.8 Trillion in projected deficits for a single year. Payoffs for those that got him elected. Priceless. Dont blame this on Bush-the money doesnt even kick in to be spent until 2010. Any recovery that is going on from now until then has nothing to do with anything Obama has done and everything to do with the natural ebb and flow of economies,and spending that Bush put into effect before he left office. Congratulations on your single term presidency Obama.

Posted by: MNM | May 11, 2009 3:01:06 PM
I recommend you review
, and a couple of government websites, and some media news links which all said that ACORN did not receive any stimulus money.
And,
, has stated recently the truth. Read below, I know its hard for ne-cons to understand anything
The group’s chief organizer, Bertha Lewis, writes:
Lewis: We have not received neighborhood stabilization funds, have no plans to apply for such funds, and didn’t weigh in on the pending rule changes.
You got that buddy. ACORN is not requesting or submitting proposals for stimulus money.
Also, Obama did not write the bill, it was 3 GOPs

You cannot tell the truth to consv. They grasping on straws, and throwing stuff agains the wall; hoping it sticks. LOL!

Also, Obama did not write the bill, it was 3 GOPs
Posted by: nubiangent08 | May 11, 2009 3:08:45 PM
——
This is your ludicrous argument. 3 republicans wrote the stimulus bill. You are a joke. Any implication that republicans had an iota of responsibility for this is just BS. That is like claiming that a leaky faucet caused the great flood. Utterly moronic!
Answer this, if you can!
Bush agreed to a provisional stimulus that would require the auto companies and the UNIONS TO MAKE CONCESSIONS, and come back with a viable business plan. The end date was under Obama.
Obama gave them additional billions, even though the criteria had not even been addressed.
After giving the automakers almost 100 Billion Obama seized the company from the rightful owners, threatened them into silence, and then GAVE GM AND CHRYSLER TO THE UNIONS!
THAT IS AS CORRUPT AS IT GETS AND HE NEEDS TO GO NOW, IMPEACH HIM FOR THIS RIGHT NOW.
IT IS THEFT OF TAXPAYER DOLLARS TO BENEFIT HIS POLITICAL SUPPORTERS. IN NO WAY DOES THIS HELP THE ECONOMY.
Now that he has done this the companies intend to expand jobs OVERSEAS. This is an unparalleled travesty.
This chicago thug is bolstering his political support with hundreds of billions of taxpayer dollars while the slime dog media help the slime dog president get away with it.

“You cannot tell the truth to consv. They grasping on straws, and throwing stuff agains the wall; hoping it sticks. LOL!”
===================================
nubiangent08 ,
LOL, liberals have been doing that for decades….the latest thing that actually stuck was Obama !

This guy does not care. he has no worry when he needs a gallon of milk. easy come for him and his wife. Spend spend spend and then blame it on someone else because you had too.

You got that buddy. ACORN is not requesting or submitting proposals for stimulus money.
Also, Obama did not write the bill, it was 3 GOPs
=====================================
nubiangent08,
How could you possibly have any idea who wrote it? Even the idiot Demcrats do not know who ACTUALLY wrote the great “Stimulator”. Some of them were claiming it were aides from Treasury for crying out loud—And you people want buffons like that to be in charge of a universal healthcare plan…LOL

Letting GM and Chryler fail will be devastating to this country. Think rational for once rather than post articles which lack substance.
Posted by: nubiangent08 | May 11, 2009 3:20:36 PM
——–
There was other options besides stealing GM and Chrysler from the rightful owners and giving it over to his union supporters, and they were legal!
There was actual court monitored chapter 11 but Obama threatened the owners out of that.
The consequences go beyond these 2 companies, that are now sending their jobs overseas by the way.
I have no doubt GM and Chrysler will now demand all part suppliers, sub contracters and so on be from union companies. It is a massive network of support services, we were told, and now they will all have forced unionization..meaning even higher costs, which got them in trouble in the first place.
All that if you get past the fact that OBAMA SUNK 100 BILLION PLUS TAXPAYER DOLLARS IN A RESCUE PLAN AND THEN USED IT TO PAYOFF HIS UNION BUDDIES. IT DOES NOT HELP THE COMPANY, IT DOES NOT HELP THE ECONOMY,
IT ONLY HELPS OBAMA AND HIS UNION BUDDIES.
Obama is corrupt and needs to go!!!

I guess my question, going forward, would be: Does this include programs that are still in their infancy and what level of recovery is factored in to assemble these figures.
Also, is there any wiggle room for potential massive industry failures?
I remember an old saying: ..if someone tells you it’s just about the principle, it’s about the money.

That’s the story so far but Barney is going to change that amendment and then ACORN is going to apply for the money. You think they will get any?
No, I think they will not as they said, they have no intentions of applying for any. Also, there is huge political risk should they grant them funds.
Posted by: Foghorn Leghorn | May 11, 2009 3:30:43 PM

No, I think they will not as they said, they have no intentions of applying for any. Also, there is huge political risk should they grant them funds.
Posted by: Foghorn Leghorn | May 11, 2009 3:30:43 PM
Posted by: nubiangent08 | May 11, 2009 3:33:27 PM
——–
You don’t THINK they will. Are you kidding. There has never been so much open, bold , corruption without consequence in the US history.
No one more bold than Obama and ACORN.
They are entirely confident in the Obamedia silence.
Heck, Obama threatened the investors in GM and Chrysler that he would sic his lapdog media on them.
Do you think for one second he expects a backlash over anything after he got away with his union billions of taxpayer dollars giveaway.

If I were a GOP operative, I wouldn’t waste much time on alternative planning or proposals.. it’s game over for such.. even before they could be introduced..

Mike C, I agree, the Dems are no better, they voted on a bill they did not even read. LOL
Also, they regain power in 2006 and the GOP couldnt capture the voters with that fact……..
Thats why I say the GOP is out of touch and idealess. Ron Paul at his age had more ideas than the opposition parties combined. Senator Shelby said years ago that housing program will cause a recession. The GOP had their chance.

Even the idiot Demcrats do not know who ACTUALLY wrote the great “Stimulator”.
They had to know who wrote it, they did not read it was the problem.
Some of them were claiming it were aides from Treasury for crying out loud-
Wrong, please read the U.s.Constitution and some of the Articles.
–And you people want buffons like that to be in charge of a universal healthcare plan…LOL
If you drive down cost, you will fix the economy. the govt does not want to run it….. it want to fix it. Thats the difference.
=======================================
nubiangent08 ,
WHo changed the language of the “stimulator” so that the AIG bonuses became legal ? Go back and loo around… It was supposedly Dodds language. But then when questioned about it, he didnt know who actually wrote the final bill. There was all kinds of finger pointing including the idea that some how people from the treasury dept were in there.
Your right…they “had” to know, BUT they DID NOT!!!!!
THERE WERE ZERO REPUBLICANS IN THE ROOM WHEN THAT THING WAS WRITTEN IN FINAL FORM!
Then people on BOTH sides of the aisle did not read it, because of all the stupid “sky is falling” rhetoric that Obama was using every single day until the thing was passed. Remember the “risk of turning a crisis into a catastrophe” line. It was there every day! So everyone went into Lemmings-mode, and in the end we find out “POOF” it changed. Then we had the 2 days of the worst acting on capital hill since Roger Clemens when Bumbling Barney Frank called the acting AIG CEO up there and grilled him and then he & his merry little band went off to create an completely ILLEGAL tax.

I want my free health care!!!!!!!

and I thought Bush was a big spender. — Bush spent money on crap. Obama has had to spend more than Bush spent just to keep the banks functioning. In other words, if this were a monopoly game, instead of starting the game with the usual amount of money, you would be starting the game with trillions in debt AND a complete collapse banking system and economy in the tank. Their starting positions are radically different considering Bush started with a surplus and spent into a deficit, for crap, and Obama, in the starting blocks, has to spend trillions to keep the country’s largest 6 banks from going under and plunging us into a massive Depression. Ok, NOW that we are not going to fall into a depression, NOW we start adding the usual budget costs on top of there, including two stupid wars that Bush started and screwed up. Obama is at least spending money on FIXING things and INVESTING in jobs and creations of green technologies and wind farms, and grid updating and healthcare. What did Bush spend his trillions on?????? Roads? nope. College? nope. Bush cut college. The difference between Obama and bush is substance. We’re getting something for our money with Obama – with bush, the money just evaportated WHILE we screwed up the wars, the infrastructure crumbles, the grid became more antiquated, the US banks fell into insolvency……

And I thought Bush was a big spender. Socialism here we come.
——-Be sure to wave your right to social security when you retire. you dont want any of that socialized money that Obama is working so hard tobe sure will be there, you know, the program that Bush was letting go belly up while Bush spent trillions on crap.

And I thought Bush was a big spender. Socialism here we come.——————
and if you get laid off, be sure to wave your right to unemployment.

I forgot, no details on the ideas were publicized…….. why b/c we all knew it only outlined tax cuts.

Posted by: just sayn | May 11, 2009 4:10:36 PM
Your name speaks for itself. “Just sayn”
Can you provide an actual quote besides Bush and the house. Also, can you tell me why Bush stated he did not want the auto industry to fail but the party does.

I post nothng but facts. You all post well persuasive comments.

Can you provide an actual quote besides Bush and the house. Also, can you tell me why Bush stated he did not want the auto industry to fail but the party does.
Posted by: nubiangent08 | May 11, 2009 4:16:47 PM
————-
WHAT A PILE OF BS
Bush wanted union wage and salary concessions and was going to allow them into chapter 11 if they could not come to an agreement.
Republican do not want or advocate car company failure, well know. They wanted a viable, LEGAL, business plan.
Republicans also do not advocate stealing the company from the owners and giving it to Obama’s union supporters and stealing 100 billion in taxpayer dollars to help the unions, and stealing the retirement plans of non autocompany investors, to shore up and payback his political support.

Can you provide an actual quote besides Bush and the house. Also, can you tell me why Bush stated he did not want the auto industry to fail but the party does.
Posted by: nubiangent08 | May 11, 2009 4:16:47 PM
————-
WHAT A PILE OF BS
Bush wanted union wage and salary concessions and was going to allow them into chapter 11 if they could not come to an agreement.
Republicans do not want or advocate car company failure, as you well know. They wanted a viable, LEGAL, business plan.
Republicans also do not advocate stealing the company from the owners and giving it to Obama’s union supporters and stealing 100 billion in taxpayer dollars to help the unions, and stealing the retirement plans of non auto company investors, to shore up and payback Obama’s union political support.

You cannot tell the truth to consv. They grasping on straws, and throwing stuff agains the wall; hoping it sticks.
Posted by: nubiangent08 | May 11, 2009 3:12:49 PM
____________
Don’t know about this grasping, throwing, and sticking.
But Democrats are failing the 3 Rs
Reading – they don’t know about the global economy or what the military needs. But that’s only because they don’t care.
Writing – The joke’s on you, Wanda. Pundits of the left are still writing about Bush as Darth and Cheney as the Emperor or is it the other way round? Who is the president now, what are the consequences of his policies?
‘Rithmetic – Trillions seem to bore the liberals at the wholesale level, and whether we can afford it. It’s retail, man, is where it’s at – where deals are made with unions and city bosses. But hey Obama just saved $17 billion (or not)

I have to get back to work as well, but one mor ething you should freakn know, which I bet you do NOT, did you know that F/F did NOT make those subprime mortages that went belly up???? did you know that??? those subprimes that were bet on by derivatives which exacerbated their losses a thousand times over on the financial markets were made….in the PRIVATE SECTOR!!!! F/F invested in them as well, which brought htem down, but they did not MAKE those loans!!! The standards of Fannie and Freddie were TOO HIGH and their loans were actually SOUND!!! Did ya get that article in the wallstreet journal and business week magazine??? gthe subprimes that brought us all down were made in the PRIVATE SECTOR – unregulated 100%, per bush’s dream of allowing bank sto be ‘innovative!” yes! that was a republican term used when democrats called hearings two years ago on “Predatorial LEnding Practices” when they PREDICTED this melt down!!!! do you know any of that????? face it, republicans know SQUAT about the economy and have been on the wrong side of everything the past 8 years! gottta do some work. good day!

Read David Frum’s “Quick fix today, crisis tomorrow in Obama’s White House”.
Excerpts:
“…Investors: You are warned…
“…In barely four months, Barack Obama has nudged the United States toward a future in which government will be bigger and more assertive — where taxes will be higher and government unions more powerful — where legal rights are less secure and contracts more uncertain.
“In California, he is pushing a state toward the fiscal edge in order to favour a union ally. At Chrysler, he has put at risk the security of every contract in the country to please another union.
“Meanwhile, his administration is planning changes to the regulation of finance that are likely to leave the United States less dynamic and less
innovative in the years ahead — at the same time as taxes rise and educational levels decline…”

Here are some inconvenient facts that the sheep that follow Obama appear unable to understand:
Even cheerleaders like the AP have had enough of this bogus liberal spin on their ignorant policies:
FACT CHECK: Obama disowns deficit he helped shape
By CALVIN WOODWARD, Associated Press Writer Calvin Woodward, Associated Press Writer
WASHINGTON – “That wasn’t me,” President Barack Obama said on his 100th day in office, disclaiming responsibility for the huge budget deficit waiting for him on Day One.
It actually was him — and the other Democrats controlling Congress the previous two years — who shaped a budget so out of balance.
And as a presidential candidate and president-elect, he backed the twilight Bush-era stimulus plan that made the deficit deeper, all before he took over and promoted spending plans that have made it much deeper still.
————————————-
Even Obama’s own financial team can’t cover over the disaster the democrats are in the process of making :
“the CBO
predicts that deficits under his policies would exceed 4 percent of the
overall economy over the next 10 years, a level White House budget
director Peter R. Orszag yesterday acknowledged would “not be
sustainable.”
Obama’s own budget director knows this debt is unsustainable.
How about the CBO:
“the CBO predicts that the nation’s annual operating deficit would never drop below 4 percent of the overall economy over the next decade, a level administration officials have said is unsustainable because the national debt would grow too rapidly.”
————————————-
How do the countries that are financing these ignorant policies of the Obama administration:
China has ‘canceled US credit card’: lawmaker
4 days ago
” China, wary of the troubled US economy, has already “canceled America’s credit card” by cutting down purchases of debt, a US congressman said Thursday.”
————————————-
And how about those treasuries:
“Weak Treasury auction sends stocks lower”
“The government had to pay greater interest than expected in an auction of 30-year Treasurys. That is worrisome to traders because it could signal that it will become harder for Washington to finance its ambitious economic recovery plans.”
————————————
Of course all liberals can do is blame Bush because everything that happened on his watch was his fault.
But everything that happens on Obama’s watch, well in liberal pretzel logic,is also Bush’s fault.
But liberals will keep blaming everybody else for there policies that they enact with total power in the House,Senate,and White House.
And their sheep will follow right along.

Remember,deficits were bad until Obama became President.
When Bush was running a deficit of 400 billion dollars,democrats proclaimed it “un-patriotic”,and “criminal” to leave our children having to pay this.
Somehow in liberal land,quadrupling the deficit to trillions of dollars is now “smart power”.
You would have to be a brainwashed idiot to buy what the democrats are selling:
Obama’s trillions dwarf Bush’s ‘dangerous’ spending
By Byron York
Chief political correspondent 2/24/09
Pelosi and Reid called Bush’s budgets “dangerous” and “unpatriotic,” but with Obama, they’ve changed their tune.
Back in 2006, when Democrats were hoping to win control of the House and Senate, party leaders worked themselves into a righteous outrage over the issue of out-of-control federal spending. Rep. Nancy Pelosi, D-Calif., called the Republican budget “irresponsible” and “unpatriotic” because it increased the amount of U.S. debt held by foreign countries. Sen. Harry Reid, D-Nev., accused Republicans of going on “an unprecedented and dangerous borrowing spree” and declared GOP leadership “the most fiscally irresponsible in the history of our country … no other president or Congress even comes close.”
The new spending guarantees that the problems that so disturbed Pelosi and Reid just a couple of years ago — high interest payments and an increasing number of foreign debt-holders — will get worse. Yet so far, the Democratic leaders have refrained from using words like unpatriotic, irresponsible and dangerous to describe Obama’s budget.
Now that a democrat is in the White House,deficits are “necessary”:
White House Budget Director Orszag: “Elevated Deficits Are Beneficial”
“During an economic downturn like we’re experiencing the deficit gets elevated which is not only natural, it’s beneficial because it helps bring the economy back up to the potential output level. In other words, the key problem we face right now is the gap between how much the economy could produce and how much it is producing. The whole point of the Recovery Act is to fill in that gap and part of that means a temporary elevated deficit.”
Peter Orszag
White House Budget Director
February 26, 2009
“temporary”…decades of trillion dollar deficits is not temporary for the people actually in touch with reality.
OBAMA HAS SPENT MORE MONEY THAN ALL THE PREVIOUS PRESIDENTS COMBINED.
“Meanwhile, Mitch McConnell in the after-speech spin points out that in the first month of Obama’s administration Congress has spent more money than it spent on Iraq, Afghanistan, and Katrina relief over the past seven years.”
“In just 50 days, Congress has voted to spend about $1.2 trillion between the Stimulus and the Omnibus,” McConnell says. “To put that in perspective, that’s about $24 billion a day, or about $1 billion an hour—most of it borrowed. There’s simply no question: government spending has spun out of control.”
But this is not important to liberals
because Obama speaks so well and people like him alot.
The fact that his policies and agenda are bankrupting the country seem to slip the minds of his liberal sheep.
Just like his policies of bombing villages and killing civilians,
using Rendition,
using enhanced interrogation,
detaining combatants indefinitely,
using military tribunals,
using NSA wire tapping,
hiring lobbyist,
using signing statements,
use of state secrets,
signing billions in pork spending,
keeping the troops in Iraq,
and ..so..on..and..so..on..and..so..on.
Bush was a war criminal and setting us up for economic disaster when he used these policies.
Chicken hawk Obama uses Bush’s same policies and liberals are all for it and call it “smart power”.
What a bunch of sheep.

Well said Baxter Greene

Some seem to have forgotten that Bush left a 1.3 trillion $$$$$ deficit…..
Posted by: rickyt1234
—————————————
Budgets are controlled through Congress.
The democrats have been in control of Congress since 2006.
Bush’s deficit was 400 billion dollars before Tarp,a policy that democrats not only supported,but insisted that it should be more:
FACT CHECK: Obama disowns deficit he helped shape
By CALVIN WOODWARD, Associated Press Writer Calvin Woodward, Associated Press Writer
WASHINGTON – “That wasn’t me,” President Barack Obama said on his 100th day in office, disclaiming responsibility for the huge budget deficit waiting for him on Day One.
It actually was him — and the other Democrats controlling Congress the previous two years — who shaped a budget so out of balance.
And as a presidential candidate and president-elect, he backed the twilight Bush-era stimulus plan that made the deficit deeper, all before he took over and promoted spending plans that have made it much deeper still.
Complaining about Bush’s 400 billion while Obama racks up trillions in debt is like complaining about Bush lighting a match while Obama burns the dam# house down.
Pathetic.

Those trying to pin this deficit on Bush are absolutely insane. Do you not understand how our government works? The congress controls the purse. Democrats had no problem passing these budgets for the last 2 years—including then-Senator Obama.
I don’t recall seeing Senator Obama complaining about fiscal irresponsibility. And as President, he’s certainly done everything he can to facilitate the deficits.
Responsibility and accountability? Yeah, ok.
Wait until the Chinese stop buying Treasury bonds. The debt service alone on our financing will take up half of GDP. God help us….

Baxter I’m well aware of what’s going on in Washington! I agree they all have to be responsible for their actions but Bush started the bailout. It was he that went to congress and asked for this pork filled bill and then signed it! Now you’re saying Bush was fiscally conservative? That is a joke!

You can’t make this stuff up—yeah, that’s a little like saying radiation is bad for you. yes, it is. Dont expose yourself to radiation. yes, that’s true. Ok, now you have cancer and your dying. how do you cure yourself??? guess what. Radiation. Yeah, and then you use radiation, it shrinks the tumor that formerly was going to kill you, and you must then cure yourself from the radiation damage. Yes, this how people survive where once, they were about to die. Yeah, you can’t make this stuff up. We just needed to injest radiation (debt) in order to save patient (our banking system, our economy) and when we have saved the patient, then we need to cure ourselves of the radation poisoning (pay off hte debt) but there would be no patient had we not taken the bitter medicine to survive. Yeah. Can’t make this stuff up. so true.

“This mess we needed to spend trillions to get out of was caused by bush and 8 years of republican rule.”
Um, no. That’s an extremely shallow view. There are many root causes of the economic crisis, but there’s no question that Fannie Mae was one of the early catalysts. The problems were documented as early as 1999, by the New York Times no less.
Google “Fannie Mae Eases Credit To Aid Mortgage Lending” and “New Agency Proposed to Oversee Freddie Mac and Fannie Mae”.
Democrats Barney Frank and Chris Dodd repeatedly blocked regulation of Fannie Mae and Freddie Mac while Frank Raines and Jim Johnson (both Democrats) cooked the books and ultimately ran both companies into the ground. They made millions in the process. They have never been held accountable, even though their activities were criminal.
Incidentally, the Republicans didn’t “rule” for 8 years. Democrats ran both houses the last two years of Bush’s term. Why didn’t they do anything to stop the corruption and ultimate collapse Fannie/Freddie? Simple. They were profiting from the bubble they themselves were creating.
I fault the Bush administration for a number of things, including not putting Raines, Johnson, Frank, and Dodd in prison where they belong.

While our teachers are getting pink slips Pakistan get’s a blank check.
Depression here we come.

The president is using the same tactics George Bush used after 9/11 – and its working for him. I’m not sure its going to work so well for the people.
We are in the midst of a huge financial crisis – so he throws money around like a drunken sailor. Very few people (other than the demonized Republicans) say anything other then OK … after all who wants to get in the way of a crisis?
We are treading a dangerous path with a man at the helm with limited experience. That’s not opinion, its fact. Sure, he is a nice guy with probably very good intentions. That doesn’t mean he can’t lead us right from the abyss into the deeper abyss.
I voted for him and severely regret it. All of this is totally insane – and the Democrats are rubber-stamping everything out of fear. The bottom line to all of this is the numbers keep adding up against us. Now the President wants more money for health care reform. Personally, I’d like to see one tiny bit of success before we gamble any more of our financial future. I don’t think that is too much to ask for.

bush is gone this is obamas mess—LOL! his mess to fix, maybe. Bush let Lehman Brothers fall. Did ya ever read the analysis of the damage that did to the economy, the first card in many that started the avalanche of failures. Obama saved the country’s largest 6 banks nad their insurer that were driven by greed and completely unregulated for 8 years to the point of total and complete economic collapse. We didn’t dogde a bullet, we dodged an economic Abomb, and the only reason why our currency isn’t kindling is becaues of Obama and the fix was EXTREMELY expensive. Bush burnt the house down. Dont blame Obama for the cost to rebuild. This economic freefall was Bush’s legacy. Obama stopped the freefall before we hit pavement. You shoudl be thanking him.good night.

Obama saved the country’s largest 6 banks nad their insurer that were driven by greed and completely unregulated for 8 years to the point of total and complete economic collapse.
Posted by: just sayn | May 12, 2009 1:24:02 AM
————————————–
Good progress to see liberals finally taking their responsibility for Tarp and
the 700 billion that it added to the deficit.
Only a blind man would give Fannie/Freddie a pass on the subprime crisis and not be educated enough to know that Bush INCREASED regulations.
Regulations that don’t mean anything if
politicians and executives punch holes in them like they did and are still doing.
“Congress took a well-functioning lending market and destroyed it by insisting on forcing loans to people who were at high risk of defaulting. When government couldn’t get enough distortion through threats of penalties, it instead starting buying paper from subprime lenders through Fannie Mae and Freddie Mac, and converted them into securities sold on Wall Street, which then infected the entire economy with bad debt. That created unrealistic demand for dubious loans, which created a housing bubble — and its collapse has created all of the mischief we now see.
Here is one of many articles by the Wall St. Journal that show just how much Fannie/Freddie and the democrats support of them running free with no controls caused this economic mess:
Blame Fannie Mae and Congress For the Credit Mess
Many monumental errors and misjudgments contributed to the acute financial turmoil in which we now find ourselves. Nevertheless, the vast accumulation of toxic mortgage debt that poisoned the global financial system was driven by the aggressive buying of subprime and Alt-A mortgages, and mortgage-backed securities, by Fannie Mae and Freddie Mac. The poor choices of these two government-sponsored enterprises (GSEs) — and their sponsors in Washington — are largely to blame for our current mess.
The same people who caused this mess are on the Hill now running up deficits in the Trillions of dollars while sheep like “just sayin” stay on bended knee.

But…But…But democrats didn’t have anything to do with the economic mess,it was all the EEEEEEEEEEEEvil Bush.
Only a simpleton would still be pushing this line:
Guest essay: Fannie and Freddie mess? Blame the Democrats
By JOHN H. PILLA
Capitalism worked well until the government began to limit free markets by forcing the Government Sponsored Enterprises called Fannie Mae and Freddie Mac to make loans to those not worthy of receiving home mortgages (subprime mortgages).
The markets did fine until these actions were undertaken by Democratic administrations.
Here is a list of key events:
– The Community Redevelopment Act (CRA) was passed in 1977 under the Carter Administration. This act led to the government’s involvement in the subprime mortgages. It compelled banks to make loans to low-income borrowers. Supporters argued banks were making loans based on purely economic criteria.
The original lobbyists for the CRA were the hardcore leftists who supported the Carter Administration. They were rewarded with programs like the CRA. These included various “neighborhood organizations,” such as ACORN (Association of Community Organizations for Reform Now).
– In 1992, oversight was pursued for Fannie and Freddie by Jim Leach. These GSEs were blessed with the advantages of a government agency and a private company. Fannie and Freddie used their windfall profits to co-opt our politicians, who were supposed to control them, with a stream of political cash to feed their supporters which have already distributed roughly $4 million to congressional members. Nearly half of the senators have received funds and most of the money is directed to incumbents. Fannie gave
$10,000 to Speaker Nancy
Pelosi, $10,000 to third-ranking House Democrat Rahm Emanuel, $5,000 to Barney Frank, $10,000 to Republican House whip Roy Blunt, $8,500 to Majority Leader Steny Hoyer and $7,500 to Minority Leader John Boehner and… you get the picture.
– In 1995, the Clinton Administration strengthened CRA. The implementing regulations for the CRA were strengthened by focusing the financial regulators’ attention on institutions’ performance in helping to meet low income needs. Clinton fostered the concept of the subprime loan. In other words, a bank product was created to make loans to those who were not able to repay, and to bundle these into marketable securities.
– In 1998, Fannie and Freddie officers cooked the books in order to maximize bonuses: James A. Johnson, chairman and CEO, $966,000 salary, $1,932,000 bonus; Franklin D. Raines, chairman and CEO-designate, $526,154 salary, $1,109,589 bonus; Lawrence M. Small, president and COO, $783,839 salary, $1,108,259 bonus; Jamie Gorelick, vice-chairman, $567,000 salary, $779,625 bonus; J. Timothy Howard, EVP and CFO, $395,000 salary, $493,750 bonus; Robert J. Levin, EVP, Housing and Community Development, $395,000 salary, $493,750 bonus.
– In 2001, the Bush Adminstration tried to raise a red flag about Fannie and Freddie.
– In 2003, Freddie Mac admitted it understated $5 billion of earnings and was fined $125 million.
– In 2003, Sen. Christopher Dodd, Connecticut Democrat and chairman of the Banking Committee, and Sen. Kent Conrad, North Dakota Democrat, chairman of the Budget Committee and a member of the Finance Committee, refinanced properties through Countrywide’s “V.I.P.” program in 2003 and 2004, according to company documents and emails and a former employee.
– In 2004, chief executive Richard F. Syron received a memo from Freddie Mac’s chief risk officer warning him that the firm was financing questionable loans that threatened its financial health.
– In 2004, an accounting scandal emerged at Fannie Mae, resulting $6.3 billion restated earnings.
– In 2004, both companies were ordered to raise their core capital level by 30 percent, limiting their ability to purchase mortgages.
– In 2004 at a House committee hearing, Barney Frank said “…safety and soundness is not an issue.” Maxine Waters said, “Franklin Raines has done a wonderful job.”
– In 2005, 19 Republicans sign on to radically revise Fannie and Freddie, demanding oversight.
– In 2005, a Republican reform passed the Senate Banking Committee on a party-line vote, only to be blocked by Democrats from passing the full Senate.
– In 2006, John McCain spoke on the Senate floor concerning the need to reform Fannie and Freddie.
– In 2006, top executives at Fannie Mae were accused of manipulating the company’s books to maximize their bonuses.
– In 2007, Freddie Mac Chairman and Chief Executive Richard Syron pocketed nearly $19.8 million in compensation last year, while the company’s stock lost half its value in 2007.
– In 2007, subprime mortgages triggered the current financial market crisis. Foreclosures in the subprime housing market (i.e., mortgage holders with poor credit ratings) is the direct result of 12 years of government policy that has forced banks to make bad loans to un-creditworthy borrowers.
– In March 2008, both companies were given permission to add $200 billion into the mortgage market.
n In July 2008, Congress authorized the Treasury Department to provide equity to Fannie and Freddie.
– In August 2008, shares of FNM and FRE plummeted amid rumors that the two companies may need to be rescued by the government. Stocks rebounded after the Treasury denied it planned to provide capital to the companies.
– In September 2008, both Fannie and Freddie were taken over by the government with top management dismissed.
Recipients of Fannie and Freddie Campaign Contributions, 1989 to 2008. (Note: Barack Obama is the number two recipient at $126,349, but was only been in the Senate for the last three years. The only names not on this list are Sarah Palin’s and Bill Shuster’s.)
Christopher Dodd, D, $165,400; Barack Obama, D, $126,349; Robert Bennett, R, $107,999; Spencer Bachus, R, $103,300; Roy Blunt, R, $96,950; Paul Kanjorski, D, $96,000; Christopher Bond, R, $95,400; Richard Shelby, R, $80,000; Jack Reed, D, $78,250; Harry Reid, D, $77,000; and Hillary Clinton, D, $76,050.
This list continues, listing 353 names. Total contributions to Congress was $4,844,572.
Solutions:
1. GSE executives and senior staff should be prosecuted for fraud in order to get larger bonuses?
2. GSEs should be barred from lobbying the congress?
3. GSEs should be barred from making political contributions?
Just follow the money.
In liberal land,
Barney Frank,Dodd,Obama,and the rest of the Fannie/Freddie club protecting and voting down any regulations of this institution does not matter.
democrats getting massive amounts of money for providing protection and interference of any oversight and regulation does not matter.
Tim Geithner being a leader of the New York banking industry and serving on boards like Citi bank,right smack in the middle of AIG and other banks that had massive failures (but Timmy and Dodd made sure they got their bonuses) does not matter.
The fact that there is not accountability or regulation of the money from Tarp and the stimulus money
does not matter.
It’s all about Bush.

I found this website to be very insightful from a Biblical standpoint that pertains to the world today.

After the game, we put all of the monopoly money back into the same box.
Over time the intrinsic value of paper money always reverts back to zero.

Baby boomers have been partying since the early 60′s. I guess the cheap drugs and “free love” corrupted their brains. Because, their kids, grand kids and great grand kids are left with the bill created by a complete disregard for financial responsibility.

I have found Jack Van Impe’s streaming videos to be very insightful from a Biblical standpoint pertaining to the world today. Accept Jesus Christ into your heart. His return could be very soon. He wants to take us out of this mess.