White House: Budget Deficit Will be $2 Trillion Higher than Projected
ABC News' Karen Travers reports: As was reported last week, the Obama administration announced today that it has revised its 10-year cumulative budget deficit projection to around $9.051 trillion, up from its February projection of $7.1 trillion. Administration officials said Monday that these numbers put their projection in line with the Congressional Budget Office’s June projection. These out-year deficits are about 4 percent of GDP, which the administration says is "higher than desirable." The new forecast is based on new data that reflect "how severe the economic downturn was" at the end of last year and first half of this year. Read the White House fact sheet HERE. Council of Economic Advisers Chair Christina Romer said the forecast was locked in in early June, so even at this point, the data for the projection is "some two months old." Getting these deficits under control is a "top priority of the administration," said Peter Orszag, director of the Office of Management and Budget. "We are in the midst of the policy process surrounding the FY 2011 budget, and that process will include proposals to put the nation on a fiscally sustainable path." Orszag would not comment on what those proposals would be or any details of the FY11 budget process. Romer also said the administration predicts the unemployment numbers will peak in the fourth quarter of 2009 and first quarter of 2010 and will hit 10 percent “for some months or some quarters” in that time period. She said the annual average of the unemployment rate for 2009 will be 9.3 percent and 9.8 percent in 2010. Romer added that these unemployment figures reflect two things: the deterioration of the GDP forecast (“the recession was simply worse” than they thought) and the fact that this is an “unusual recession for labor market.” One semi-positive projection is that the size of this year’s deficit has fallen by almost $262 billion (about 1.7 percent of GDP) and is projected to be $1.58 trillion (11.2 percent of GDP), since less money than once anticipated has been needed to stabilize the financial system. The Obama administration pointed the finger at the Bush White House for not following PAYGO rules, and says the projected 10-year deficit would be $5 trillion smaller if they had. “In other words, more than half of the projected deficits over the next 10 years are directly attributable to the previous administration’s failure to follow the pay-as-you-go principle,” a fact sheet from the White House Office of Management and Budget stated. The White House numbers come as President Obama today nominated Federal Reserve Chairman Ben Bernanke for a second term. Bernanke has had his share of controversy but he is likely to be confirmed by the Senate as he has earned the support of both Democratic and Republican lawmakers. — Karen Travers

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What? The wisest President ever was off a mere 29% from a mere six months ago! Oh, it’s just a rounding error! LOL!
Seriously, if Bush had made this kind of error, guys like Jake might actually ask the President hard questions about it.
Posted by: BH | August 25, 2009, 9:39 am 9:39 am
This was reported by Matt Drudge a week ago
Posted by: stardate: 2732.5 | August 25, 2009, 9:44 am 9:44 am
“Getting these deficits under control is a “top priority of the administration,” said Peter Orszag, director of the Office of Management and Budget.”
Of course it is, that’s why this Administration is tossing around money for clunkers and willing to add trillions more to the deficit by “overhauling” health care and cap-and-trade.
When will the media take their jobs seriously and call the President on his brazen hypocrisy? Sailing the White House’s press releases through as “news” (like this puff piece) just isn’t news.
Posted by: BH | August 25, 2009, 9:44 am 9:44 am
yeah right…like Obama is going to abide by PAYGO rules either…there hasn’t been any money to pay as you go since that fool took office….yet he spends like a drunken sailor.
Posted by: pft | August 25, 2009, 9:44 am 9:44 am
Date August 17th from the F.T.
Mr Armey, 69, predicted that the “grassroots” backlash against what he called Mr Obama’s “hostile government takeover of a sixth of the US economy” would cause the reform to fail spectacularly. But he predicted that supporters of reform would attempt to win over the “bed-wetters caucus” – a group of wavering lawmakers who spanned both parties, he said – with a fear campaign in the autumn.
“In September or October there will be a hyped up outbreak of the swine flu which they’ll say is as bad as the bubonic plague to scare the bed-wetters to vote for healthcare reform,” said Mr Armey. “That is the only way they can push something on to the American people that the American people don’t want.”
Today Obama announced as many as 90,000 americans could die from the Pig flu Hmmmmmmmmm Obama.. Armey has your number
Posted by: stardate: 2732.5 | August 25, 2009, 9:44 am 9:44 am
Say it isn’t so. The mighty BO was wrong? GASP! The world as we know it is ending…….Too bad the blind followers just wanted to help make history. Look where their history-making screw ups got us. The US is making history alright – thanks to the mighty BO.
Posted by: NoBOforMe | August 25, 2009, 9:46 am 9:46 am
The well of blaming Bush for Obama’s failing presidency is about dry.
Posted by: Sigmonde | August 25, 2009, 9:46 am 9:46 am
Figures,,,,,,,,,,Obama passing the blame to Bush………GET OVER YOURSELF. Ob it is your administration that is responsible for whats going on today……..The unemployment is not even peaked after you put us in tremdous debt and promised it would help. You state we are in recovery (another lie) but the numbers show different. Worst president this country has ever had, will ever have. Bo will go down in the history books as such! Keeping this country repressed, trying to sell us your health care crap. I dont believe anything that comes out of his mouth, full of bull it what he is
Posted by: lononia | August 25, 2009, 9:47 am 9:47 am
The Obama administration has lost control of government spending,duh,who would ever thought it.Tax and Spend is the Democratic way.Spread the Wealth has turned into Spread the Debt,now that is change you can believe in.
Posted by: Johnny L | August 25, 2009, 9:49 am 9:49 am
“the recession was simply worse”
Was?
“more than half of the projected deficits over the next 10 years are directly attributable to the previous administration’s failure to follow the pay-as-you-go principle,”
Meet the new talking point. Same as the old talking point.
Posted by: Foghorn Leghorn | August 25, 2009, 9:49 am 9:49 am
Van Jones top advisor to obama and requiring no senate confirmation has now been exposed as a self professed
communist….well what else is new?
Posted by: stardate: 2732.5 | August 25, 2009, 9:49 am 9:49 am
Good Job Jake for exposing a Left wing socialist Liar
Posted by: stardate: 2732.5 | August 25, 2009, 9:52 am 9:52 am
Of course these numbers understate the facts as well. Real unemployment is closer to 20%. I have been listening to the likes of Ron Paul and Peter Schiff for years. Thus I already knew this.
Posted by: Huh | August 25, 2009, 9:53 am 9:53 am
There is absolutely no doubt in my mind that the timing of this report was coordinated with BO skipping town. Then the kicker is the Orzag insists in pushing through the health care reform because it is the right thing to do… This administration will go down in history as the one that will cause the financial demise of this nation. There are absolutely ways to turn this economy around, but BO will never consider it because it runs counter to his ideology. It won’t matter that this country plummets beyond recovery – it is his policy or be damned!
Posted by: Gina | August 25, 2009, 9:54 am 9:54 am
Was this info not released so the obama administration could pass the Health Care bill quickly? The article said it was 2 months old…
Posted by: Jenny | August 25, 2009, 9:56 am 9:56 am
“more than half of the projected deficits over the next 10 years are directly attributable to the previous administration’s failure to follow the pay-as-you-go principle,”
So wouldn’t that mean the other half is due to the current administration not following PAYGO? How blatantly hypocritical this is…blame the other guy for doing exactly as you are doing but ignore the fact that you are doing it. Insane.
Posted by: Say What? | August 25, 2009, 9:58 am 9:58 am
“Seriously, if Bush had made this kind of error, guys like Jake might actually ask the President hard questions about it.”
BH, your beloved, illiterate George W. Bush is directly responsible for the deaths of 1,000,000 innocent people in Iraq. No reporters seem (or ever seemed) interested in asking about that, so please spare us with your phony outrage about the “liberal media.”
Also, you don’t actually care about deficit spending, even if you think you do. Under Bush/Cheney, you didn’t mind at all. So the only thing that matters is the political affiliation (and racial heritage) of the current president.
I recommend that you 1) Stop voting and 2) Stop pretending to be outraged all the time.
Posted by: Fake | August 25, 2009, 9:59 am 9:59 am
Well, knock me over with a feather!
Posted by: Sandi | August 25, 2009, 9:59 am 9:59 am
Nice “reporting.” PAYGO is a rule set by the Democrat-controlled House of Representatives. The Democrat leadership decided not to follow it. PAYGO has nothing to do with the executive branch.
How stupid does the current White House think we are?
Posted by: no | August 25, 2009, 10:00 am 10:00 am
The President is dropping like a bad habit. Enough said.
Posted by: JOE | August 25, 2009, 10:00 am 10:00 am
“Getting these deficits under control is a ‘top priority of the administration,’ said Peter Orszag, director of the Office of Management and Budget.”
By far the most amusing and perplexing quote in this article. Who do they think they’re kidding? You can’t increase federal deficits to levels previously unseen in America and then tell us with a straight face that reducing these deficits is your top priority.
I mean, really? Do they really think we’re this stupid?
Posted by: CH | August 25, 2009, 10:01 am 10:01 am
Ha – “Fake” pulling out the race card out of desparation! Get a grip…this has nothing to do with race and everything with ideology.
Posted by: Say What? | August 25, 2009, 10:04 am 10:04 am
“So the only thing that matters is the political affiliation (and racial heritage) of the current president.”
Once again, we see the race card played to stifle opposition to Obama’s failing presidency.
Posted by: Sigmonde | August 25, 2009, 10:05 am 10:05 am
Economists were saying this 4 months ago. Let’s see, we hire Bernanke for 4 more years and then release this little tidbit of information? Now, do you really think Obama’s estimate for the Health Care Plan is on target? Obama, enough with blaming Bush, you have already piled on to our deficit. Hold off on health care and bailing out any company that needs it.
Posted by: lfrichar | August 25, 2009, 10:07 am 10:07 am
So, when is that the President ‘mans-up’ and takes responsibility for something? Even if this is a lingering effect of previous incompetent President(s), THIS admin knew they were ‘fudging’ with numbers and lying about them to further their agenda(i.e., pass a healthcare reform that the majority of Americans DON’T want)…lets go Rahm, fire the lowly intern that decided to keep this info from our President cause HE would never have done this if he’d known, right?
Posted by: T.D. | August 25, 2009, 10:07 am 10:07 am
“The Obama administration pointed the finger at the Bush White House for not following PAYGO rules”
Before it goes down the MSM’s memory hole:
PAYGO was a DEMOCRAT “spending restraint” on a DEMOCRAT Congress which DEMOCRATS consistently voted to override so the DEMOCRATS could spend more money and DEMOCRATS could inflate the deficit.
Bush was not involved.
When the Main Stream Media (MSM) wonders why we think they are liberal, it is the obviously politically motivated failure to report simple facts like these. We know the MSM will join 0bummer and blame absolutely everything on Bush, even those things (failure to follow PAYGO) that were clearly done by DEMOCRATS.
Posted by: Uncle Miltie | August 25, 2009, 10:07 am 10:07 am
The Democrates will be blameing Bush for their failuers twenty years from now, because they cannot accept their mistakes. Well we Americans that have a brain in our heads, know who is to blame OB.and the Dem. Bet you failures won’t serve another term, unless you cheat and lie like Obama won this time, but you know the American people won’t stand by the next time.
Posted by: barbara gooch | August 25, 2009, 10:08 am 10:08 am
Of course it will be much higher . . . considering the way Obama has been trashing our free market economy, who’s surprised? Please publish pictures of the shills and sheep that believe this guy . . . they must certainly be a sight to behold.
Posted by: rplat | August 25, 2009, 10:08 am 10:08 am
Before Obama spoke at the DNC convention in 2004 he and Michelle were living on credit, they were living roughly $80,000 over their means. Then, magically, sales of his book soared and Michelle, again magically, received her 260% pay raise at the University of Chicago.
To paraphrase the late Senator Everett Dirksen (R-IL), “A trillion here, a trillion there, and pretty soon you’re talking about real money.”
Real money. That’s the part that’s interesting. If the Fed just keeps printing it, what’s real money anymore?
Posted by: Blue Skies | August 25, 2009, 10:10 am 10:10 am
Once again, blaming Bush. I’m so sick of it, and I can’t be alone. The Obama idiots must be forgetting that the Democrats controlled Congress for the last two years of the Bush administration. They must be forgetting who rammed through the ill-conceived stimulus plan. And now they want to get tyhe deficit under control? By adding to it when an even worse health-care plan? Please.
Posted by: Beth | August 25, 2009, 10:10 am 10:10 am
Fake ———- Falling in on Obama’s default reasoning? Blame Bush, point the finger somewhere else! Live in the here and now and realize this guy had zero experience in any actual political matters and it is clearly showing. If he pushes his health plan through, he will surely cement his 4 year term and no more.
Posted by: lfrichar | August 25, 2009, 10:10 am 10:10 am
Our country is in a mess and this president stated when campaining and when elected it would take at least a good two years to fix this. Blame whoever you want but we are in a mess and a lot of it is our own fault. How many people have lived way beyond their means and put everything on credit cards? I know most of my friend have. Now they are all crying….they gambled in the stock market instead of investing. Only huge SUVS and the best cable stations will do. Huge homes and lots of vacations. Now I know this is not everyone, I do not live like this, but most people were. And the government was doing the same thing. Now the straw has broken the camel’s back and you blame this president? He had to spend money to correct things. And I’m tired of Congress, both parties, acting like a bunch of crybabies. Gov. Paterson of NY and all the assemblymen/women and congress there should be fired. They are a perfect example of what is going on. And I don’t care which party they are from…they both are to blame.
Posted by: Barb | August 25, 2009, 10:11 am 10:11 am
Dont you love all the Money Bush borrowed from China and spent to Fund his wars,Homeland security,Money to Halliburton, for no Contract bids in Iraq,Just think Bush spent all that money and not a dime to improve this country pathetic!
Posted by: Angie in Pa | August 25, 2009, 10:13 am 10:13 am
Fallaciously pulling out the “race card” is now called “Skip Gates’ Law”.
Like Godwin’s Law, he who plays it first, loses the argument.
Posted by: Blue Skies | August 25, 2009, 10:14 am 10:14 am
$191,841 unfunded liability for every person in the US. 39 trillion liability for Medicare. 10 trillion liability for Social Security. Govt. bailouts 12 trillion. Interest on debt, 307 trillion.
Posted by: Ferrari5858 | August 25, 2009, 10:15 am 10:15 am
Republicans held congress for 16 years
Republican President for 8 years
and you right wingers want to blame the democrats who only gained little power in 06? they spent all that money alone? LAUGHABLE!
Posted by: Angie in Pa | August 25, 2009, 10:16 am 10:16 am
Was this really unexpected?
Posted by: dolly | August 25, 2009, 10:16 am 10:16 am
Narcissism, ideology and free-fall into the pit!
The people wanted change and they got it !
Posted by: Ed Taylor | August 25, 2009, 10:16 am 10:16 am
Why doesn’t the country just decclare chapter 7 bankruptcy and start all over again? Lets just ‘wipe the slate clean’ and begin again!
Posted by: Wise One | August 25, 2009, 10:16 am 10:16 am
If you really think that Obama caused this downturn you really are clueless. Avoiding a depression was priority number one and most feel we have started to turn the corner. It will take years to completely straighten out this mess. Why blame the guy that is actually making some headway. There will be tough times and sacrifice, but there is know way around that at this point.
Posted by: dbellis | August 25, 2009, 10:17 am 10:17 am
-Dont you love all the Money Bush borrowed from China and spent to Fund his wars,Homeland security,Money to Halliburton, for no Contract bids in Iraq,Just think Bush spent all that money and not a dime to improve this country pathetic!-
And Obama has on it again. And with 4 more dead in Afghanistan.
Posted by: Barry's War | August 25, 2009, 10:17 am 10:17 am
Angie in Pa —– Another blame Bush default! Those wars were nothing compared to Obama’s stimulus and health care. Both of which have or will add to the deficit and the unemployment numbers. Remember Obama’s “on the brink” speech? No more than 8% unemployment if we pass the stimulus. His 2 major items have just collapsed. That’s OK, we the people will work out of this recession no matter how much Obama spends. We always do.
Posted by: lfrichar | August 25, 2009, 10:19 am 10:19 am
Whatever happened to that “halve the defecit” thing?
Posted by: Promises, promises | August 25, 2009, 10:19 am 10:19 am
Barb
The People on the Right will NEVER Admit Bush was a horrible President they will lie twist and spin and Blame everything on Obama
Iraq war- Obamas fault
Tarp Bailouts- Obamas fault when Bush and Paulson started the Bailouts
according to Right wingers Bush and republicans for 8 years were great! Obama made all of this mess in 8 months LAUGHABLE LAUGHABLE!
Posted by: Angie in Pa | August 25, 2009, 10:20 am 10:20 am
Posted by: dbellis | Aug 25, 2009 10:17:25 AM
You’re joking, right?
Posted by: Last Laugh | August 25, 2009, 10:21 am 10:21 am
rplat, an unregulated free market financial system got us into the economic mess we are in. Greed will always mess things up, that’s why some regulation is needed. Think of the FDA and how unsafe food was before food standards were regulated. Think of the transportation system without regulations, how great would that be? hink of all the dodgy loans given out which cause the collapse world-wide. That was the free market at its worst.
Common-sense regulation is needed everywhere, for public safety and economic safety of the individual and the whole system.
On the subject of our current budget woes, remember most countries’ budgets are suffering due to dwindling tax revenue brought on by the current economic downturn. To try to figure our budget 10 years out is next to impossible as an economic upturn will bring in more tax revenue.
Posted by: Lydia | August 25, 2009, 10:22 am 10:22 am
ifrichar
Do you realize the War In Iraq cost trillons of dollars? No bid Contracts to Haliburton Billons of dollars? Bush And his Perscripton Drug plan for Medicare 800 Million Dollars And no way of paying for it Tax cuts to the Wealthy no way of paying for it So dont sit there and pretend Bush didnt have 8 years to screw this country up like he did!
Posted by: Angie in Pa | August 25, 2009, 10:23 am 10:23 am
It doesn’t matter if the people on this board what to blame republicans or democrats, what matters is the polling masses and according to all polling, they are blaming the democrats because they are the ones in power. So you can argue your little heads off, but the latest statistics show that if this trend continues the republicans will pick up a minimum of 20 seats in the house and 2 governorships in 2010.
Posted by: sas | August 25, 2009, 10:23 am 10:23 am
Barrys war
Who started the War In Afghanistan?
Posted by: Angie in Pa | August 25, 2009, 10:24 am 10:24 am
Who’s surprised? The free fall into debt has just begun. Before the next 3 & 1/2 years are over, this 9T dollar debt will look small. Nancy Pelosi is just getting started.
Posted by: Willie12345 | August 25, 2009, 10:25 am 10:25 am
Angie in Pa —- OK, the Reps congress under Clinton, are you going to give them any accolades? Also, it is an amazing coincidence that in 2006 the Congress was taken over by the Dems and the economy crashed. Never mind the likes of Franks, Carter, Clinton, Reid or Dods having anything at all with repressing any info at all about Fannie and Freddy or blocking any attempts at investigations into the same. While I admit both parties are to blame (and I am an Indepenedent), you should admit it too. Judging from your posts, you are partisan all the way and your party can do no wrong.
Posted by: lfrichar | August 25, 2009, 10:25 am 10:25 am
I really cannot understand how you think this president can wave a magic wand and make everything wonderful after 8 years of getting this country into a mess. Do any of you really think this will happen overnight? He is trying to fix healthcare which must be done…If you have great healthcare, you are rich….try getting really sick and see what happens. You will go broke…and have a pre-existing condition. This is what is making the economy bad, part of it anyway. How can we afford this expensive healthcare with no job? And if we do have a job the employers cannot afford it. I happen to agree with Angie and Debellis…You see most of the people who are complaining didn’t like Pres. Obama to begin with. God help us all with such clueless people.
Posted by: Barb | August 25, 2009, 10:26 am 10:26 am
We like the Change thank you! At least we have an Intelligent Hard working Commonsense President not a Parinoid drunk that broke laws spent like a druken sailor and shredded the Constitution and didnt give a damn about this Country!
Posted by: Angie in Pa | August 25, 2009, 10:27 am 10:27 am
Barrys war
Who started the War In Afghanistan?
Who keeps it going? It can be ended any time by our new CINC. Instead troops amounts get increased.
Posted by: Barry's War | August 25, 2009, 10:27 am 10:27 am
Bush raised the debt from 5.5 trillion to 10 trillion in 8 years. Obama will raise it from 10 trillion to almost 20 trillion in 9 years. More then double what Bush did. I always said change is subjective, it can be good or bad. This kind of change is not good.
Posted by: sas | August 25, 2009, 10:28 am 10:28 am
-This is what is making the economy bad, part of it anyway.-
Can’t imagine what the other parts would be!
Posted by: Flat Broke | August 25, 2009, 10:30 am 10:30 am
IFRICHAR
Believe you me Democrats have their faults Im not saying their Perfect, But dont sit here and Pass the Buck on President Obama when he has only been in office for 8 Months, As for the Dems taking over in 06 you really think it only took 2 years to get us in this mess? And Bush during his final days Veto Pretty much everything the Dems wanted
Posted by: Angie in Pa | August 25, 2009, 10:30 am 10:30 am
A trillion here, a trillion here. Who cares when it’s other people’s money? Wait a minute!
Posted by: s | August 25, 2009, 10:30 am 10:30 am
The democrats and their socialist spending (since FDR) destroyed the economy and set us down this unsustainable path. Who in their right mind thinks that they could ever fix it? Really, who thinks they could ever do anything but make it worse?
Posted by: Erik | August 25, 2009, 10:30 am 10:30 am
You can argue your little heads off, but the latest statistics and polling show that if this trend continues the republicans will pick up a minimum of 20 seats in the house and 2 governorships in 2010.
Posted by: sas | August 25, 2009, 10:30 am 10:30 am
Nothing new here….Biden said previously they have no clue….Changey-Hopey what a joke….Hope all you Bama lovers out there are seeing that your man is in way over his head….. He will complete the destruction of America that Bush started.
Posted by: jimbo | August 25, 2009, 10:31 am 10:31 am
By the way, we never should have been in Iraq, we should have been in Aftganhastan all along…the generals have all said this. And we were there but only a little when Bush was in.
Posted by: Barb | August 25, 2009, 10:31 am 10:31 am
“On the subject of our current budget woes, remember most countries’ budgets are suffering due to dwindling tax revenue brought on by the current economic downturn. To try to figure our budget 10 years out is next to impossible as an economic upturn will bring in more tax revenue.”
That’s a bad excuse for government money problems. Ever heard of saving? the Fed Gov hasn’t…
Posted by: Flat Broke | August 25, 2009, 10:32 am 10:32 am
Shouldn’t the ability to do basic math be part of the qualifications of a presidential candidate? Everyone, Republicans and Democrats, is spending like crazy. Stop the madness – stop unnecessary spending. Let’s just keep the wheels on. Not another bailout dollar!
Posted by: BonnieInTexas | August 25, 2009, 10:32 am 10:32 am
You know the GUY took the job and has basically messed it up. Demonize, cabinet lobbyists, political insiders, take no responsibility, jobless recovery, huge spending, disastrous energy policy, failed foreign policy with Scotland, treating Muslims better than Christians,
allowing Pelosi and Reid to write a health care bills, in short this inexperienced president is a disaster.
Posted by: ChicagoBob | August 25, 2009, 10:32 am 10:32 am
-He will complete the destruction of America that Bush started.-
Yes. Obama had a chance to hit the brakes. Instead, he floored it. He’s Bush III. Wars, spending, gov’t expansion, and economic collapse.
Posted by: Screwed | August 25, 2009, 10:33 am 10:33 am
Ok folks,
How about these numbers. The GDP over the next 10 years will add up to about $150 TRILLION DOLLARS! Yes, that is right. Look it up. The USA’s GDP this year will be about $14 TRILLION DOLLARS if not higher. So when they talk about budget deficits of $9 Trillion over the next ten years then please put that into perspective please. The deficits, I grant you are too darn high and need to eliminated and the borrowing interest costs are staggering but look at the big picture. The deficits are projected over the next ten years will be 4% of ten years GDP. Ok enough said for now.
Posted by: Bunker | August 25, 2009, 10:34 am 10:34 am
-Not another bailout dollar!-
Too late for that Bonnie. Goldman and other assorted financiers run the gov’t. This will not be to your benefit.
Posted by: Flat Broke | August 25, 2009, 10:35 am 10:35 am
Angie in Pa, Bush spent like a drunken sailor, but Obama is spending like a schizophrenic maniac. Do you also remember when the plane crashed in PA due to the terrorists? Now your beloved BO is investigating the people that kept you safe after that. Even though the Constitution doesn’t give these people any rights! Finally, how does BO love this country? He sat in church and listened and said AMEN to the “Rev.” saying GOD D… AMERICA! I just don’t understand you people! Thank GOD!
Posted by: BK-1970 | August 25, 2009, 10:36 am 10:36 am
And we were there but only a little when Bush was in.
Well, we’re in a lot more now, aren’t we?
Posted by: Barry's War | August 25, 2009, 10:37 am 10:37 am
Posted by: Bunker | Aug 25, 2009 10:34:41 AM
Are you assuming economic growth? I’m not.
Posted by: Flat Broke | August 25, 2009, 10:38 am 10:38 am
So when is BO going to “man-up” and stop blaming thte Bush Admin for everything!? That story-line is getting oooollld!!! Everyone already knows what the past WAS, but what is BO going to do about now and the future!? Only a little less than half could be blamed on the past administration, which means OVER half is BO’s fault! Are American’s so stupid that they can not do simple addition/subtraction!? Man up mister or quit! Bush is done, now YOU do something instead of INCREASING that deficit like you have already done at a more exponential rate than both Bushes combined did!!!!
And Americ, WAKE UP!!!! Bush may have started the downward trend, but BO and the Democratic controlled Congress are increasingly taking us further down with all these “bailout programs”!
Posted by: Chuck | August 25, 2009, 10:41 am 10:41 am
“”"”"”"”"Do you realize the War In Iraq cost trillons of dollars? “”"”"”"”
Posted by: Angie in Pa
Where are you getting your numbers? There are several problems when you speak in general terms of numbers. EVERYTHING you say about Bush is negative which would prove your hatred runs deep. Give me a true war cost number so I can break it down for you. I did not vote for Bush the 2nd time as I went Independent. While I know my Ind party will not win the WH, I do know we Ind will decide who does in 2012. You give no source for your war cost and do you also realize Bush and Obama made the decision to release the second $350 TARP? Bush would not release it without Obama’s approval. And, for gee wiz, under Bush, the Dow hit it’s record high of over 14000 in 2006. The Dems have had the purse strings since then and it appears they are not going to have it very long.
Posted by: lfrichar | August 25, 2009, 10:41 am 10:41 am
Should have elected Hillary. No ifs, ands or buts.
Posted by: Pat Wynn | August 25, 2009, 10:43 am 10:43 am
If McCain and Palin had won, the deficit would be shrinking along with the size of gov’t. There’s a reason they’re called conservatives – they conserve. Obama is just feeding the gluttony. I’m convinced he’s taking repirations for blacks since whites weren’t willing to pay.
Posted by: BushWasRight | August 25, 2009, 10:43 am 10:43 am
I guess change for the worse still qualifies as change doesn’t it?
Posted by: Ed Taylor | August 25, 2009, 10:44 am 10:44 am
What does BO have in common with Bush 1 and Jimmy “the peanut” Carter? They are all one-termers!
Posted by: BK-1970 | August 25, 2009, 10:46 am 10:46 am
I guess change for the worse still qualifies as change doesn’t it?
I’d “hope” you’re wrong…
Posted by: Bastid | August 25, 2009, 10:46 am 10:46 am
He was not qualified to be president. foolish people fell for his rhetoric, I did not.
Posted by: helen | August 25, 2009, 10:51 am 10:51 am
How much destructive policy does Obama have to do before Americans wake up to the fact that he is going to destroy everything a lot of us have worked hard to achive? Is it when a complete economic collapse occurs? Is it when we are attacked again and people realize that we should of known about the cell but did not because of poor intelegence? Is it when Iran becomes nuclear with missiles ready to launch? Is it when China becomes the biggest superpower?
Posted by: billy bob | August 25, 2009, 10:54 am 10:54 am
wow, I am amazed at the level of partisanship in these comments. Some blame the Democarats and the current president. Some Blame the repubilicans and the Previous President. Im glad I am an idependent voter and not tied down to a rigid party or ideology. Here is the basics people. Stop wasteful spending even if its for your benefit. Stop with the partison bull and focus on America. Everyone has to do their part and start saving money. The government will have to limit spending and raise taxes. And we have to make some very difficult choices on Iraq and Afghanistan. but Please, Please stop the partison bickering, it is ruining our country. America is united not tied by politics
Posted by: mike | August 25, 2009, 10:58 am 10:58 am
Yeah Helen, and that last guy, that helped big time bring us to this situation, sure as heck wasn’t qualified either? I am just not understanding why one earth it’s so hard for so many of you to understand Obama did not create this problem. Here’s a hint – federal tax revenue is down 18% due to one nasty recession. There are more hints.
Posted by: Fedup | August 25, 2009, 10:59 am 10:59 am
MSNBC Quote “”"”U.S. direct spending on the war in Iraq already has surpassed the upper bound of Lindsey’s upper bound, and most economists attribute billions more in indirect costs to the war effort. Even if the U.S. exits Iraq within another three years, total direct and indirect costs to U.S. taxpayers will likely by more than $400 billion”"”" So where are you getting your “trillions” quote from? Now, remove the military pay from that and you will find it much less expensive, but the news organizations want you to believe a very high cost. If we were not in Iraq, we would still be paying for our military pay, temporary duties and housing for military here in the US. We are just on a different continent. Major expenses included the actual heavy airlift to get all of our equipment and personnel over there, infrastructure and medical trauma. BTW, even the worst estimate was smaller than Obama’s stimulus.
Posted by: lfrichar | August 25, 2009, 11:00 am 11:00 am
QUIT SPENDING YOU SOCIALISTS!!!! ITS COMMON SENSE!!!!
Posted by: sTEVE | August 25, 2009, 11:00 am 11:00 am
I notice none of the Obama bashers responded to this post. ‘Bunker’ makes a lot of sense.
‘Ok folks,
How about these numbers. The GDP over the next 10 years will add up to about $150 TRILLION DOLLARS! Yes, that is right. Look it up. The USA’s GDP this year will be about $14 TRILLION DOLLARS if not higher. So when they talk about budget deficits of $9 Trillion over the next ten years then please put that into perspective please. The deficits, I grant you are too darn high and need to eliminated and the borrowing interest costs are staggering but look at the big picture. The deficits are projected over the next ten years will be 4% of ten years GDP. Ok enough said for now.
Posted by: Bunker | Aug 25, 2009 10:34:41 AM’
Remember folks, they are trying to scare you. Because scared people don’t think straight. Don’t think scared, think smart.
Posted by: Lydia | August 25, 2009, 11:00 am 11:00 am
“Administration officials said Monday that these numbers put their projection in line with the Congressional Budget Office’s June projection.” Gee, in June the White House said that the Congressional Budget Office’s projection was wrong. Does the White House ever get anything right? I would like to think that the White House are just bumblers…but I don’t.
Posted by: NDMOMx2 | August 25, 2009, 11:01 am 11:01 am
So, in the year 2019, will Obama still be blaming this on Bush??
—The federal government faces exploding deficits and mounting debt over the next decade, White House officials predicted Tuesday in a fiscal assessment far bleaker than what the Obama administration had estimated just a few months ago.
Figures released by the White House budget office foresee a cumulative $9 trillion deficit from 2010-2019, $2 trillion more than the administration estimated in May. Moreover, the figures show the public debt doubling by 2019 and reaching three-quarters the size of the entire national economy.
Obama economic adviser Christina Romer predicted unemployment could reach 10 percent this year and begin a slow decline next year. Still, she said, the average unemployment will be 9.3 in 2009 and 9.8 percent in 2010.—
Posted by: Hope and Change Czar | August 25, 2009, 11:01 am 11:01 am
`regardless of political affiliation, everyone should be outraged at the deficit that is being forecasted. this is totally unacceptable. higher interest rates, inflation and a steeply declining dollar will result and severly weaken this country. WAKE UP and vote in a congress focused on REDUCED SPENDING!!!!
Posted by: fctex | August 25, 2009, 11:01 am 11:01 am
Its not that hard to figure out folks. when you buy a car from a government owned auto maker, with a loan from a government owned bank, pick up perscription with government owned healthcare in said government owned car on your way to your government refinanced house..we are no longer free! we are now government owned.
Posted by: 912er | August 25, 2009, 11:01 am 11:01 am
Lower than Bush. Obama’s approval rating against Bush in their first 7 months. Bush -approve 56 disapprove 33, spread 23. Obama approve – 52 disapprove 41, spread 10.
Posted by: Ferrari5858 | August 25, 2009, 11:03 am 11:03 am
If McCain and Palin had won, the deficit would be shrinking along with the size of gov’t. There’s a reason they’re called conservatives – they conserve. Obama is just feeding the gluttony. I’m convinced he’s taking repirations for blacks since whites weren’t willing to pay.
Posted by: BushWasRight | Aug 25, 2009 10:43:48 AM
****************************************
O.K. I just HAD to comment on this one because it’s that funny. No, they’re NOT conservatists. Bush cut taxes and did not cut spending. Hence a large part of our issues here. Did you snooze thru his 8 years on spending? BTW, 6 of those years were SUPPOSED to be a conservative congress. Obviously they were not. And Bush GREW the government. Did you sleep thru that too? Bottom line? Your old time conservatives are RIP pretty much, and you absolutely had no guarantee you’d get one out of McCain either because they’re all rather liberal about this area any more.
I will agree we need to cut the spending. But I also get if they cut it immediately it might cause more harm to the economy. It’s a tricky place to be.
Posted by: Fedup | August 25, 2009, 11:04 am 11:04 am
Direction of country, right track, 36.8, wrong track, 58.8.
Posted by: Ferrari5858 | August 25, 2009, 11:05 am 11:05 am
You mean we were mislead, I’m shocked, appalled, flabergasted, business as usual.
Posted by: hkdakota | August 25, 2009, 11:05 am 11:05 am
Lydia——- The reason people don’t respond to Bunker is if Obama made this huge error roght off the bat, who’s to say this is not in error? He said he would halve the deficit. So you must understand that people are not bashing him, they are just not inclined to believe him anymore. There is a difference.
Posted by: lfrichar | August 25, 2009, 11:06 am 11:06 am
Rahm Emanuel in July: “We rescued the economy!”
—U.S. unemployment will surge to 10 percent this year and the budget deficit will widen to $1.5 trillion next year, reflecting a “deeper recession” than previously expected, White House budget chief Peter Orszag said.
The Office of Management and Budget also forecasts that the U.S. economy will shrink 2.8 percent this year, worse than the 1.2 percent contraction the OMB projected in May. For next year, the budget office said the gross domestic product will grow 2.0 percent, less than the 3.2 percent expected in May. By 2011, the economy would be well on its way to recovery, growing at a 3.8 percent annual rate, according to the administration’s mid-year economic review, released this morning.
The budget shortfall for 2010 will mark the second straight year of trillion-dollar deficits. The projected deficit for the fiscal year that begins Oct. 1 is higher than the $1.26 trillion forecast in May and reflects expectations economic growth will be slower this year and next because of “the severity of the crisis in the U.S. and in our trading partners,” said Christina Romer, White House chief economist, who along with Orszag briefed reporters on the report.—
Posted by: Information Czar | August 25, 2009, 11:07 am 11:07 am
“The reason people don’t respond to Bunker is if Obama made this huge error roght off the bat.”……… What huge error? They’re trying to predict on numbers back last quarter, etc. Perhaps it’s difficult to figure out? It’s ever changing.
Posted by: Fedup | August 25, 2009, 11:09 am 11:09 am
You mean us plain ole American people who have been saying they are lieing and that nothing is working other than we are going into to severe debt so that Billion dollar plus corporations can use our tax money to make money because Obama and his pals are taking care of them instead of leistening to the Voeters who happen to be their BOSS. We need to fire them all and start over.
Posted by: Jim Rod | August 25, 2009, 11:11 am 11:11 am
Now we know why he went on vacation
Posted by: Shocktroop | August 25, 2009, 11:12 am 11:12 am
DEAR LEADER CHAIRMAN MAOBAMA’S DREAM WHEN HE CAME INTO OFFICE WAS TO MAKE EVERYONE RICH, HE QUICKLY FIGURED OUT THAT WAS IMPOSSIBLE. HE THEN DECICED THAT IF HE COULDN’T MAKE EVERYONE RICH HE WOULD MAKE EVERYONE POOR.
Posted by: Sandcrab1612 | August 25, 2009, 11:16 am 11:16 am
“I will agree we need to cut the spending. But I also get if they cut it immediately it might cause more harm to the economy. It’s a tricky place to be.”
The stimulus didn’t work. The Gov, states and federal need to cut spending AND cut taxes. Nothing tricky about it. The Fed needs to stop printing money too. Cutting spending won’t hurt anyone except Goldman Sachs. Fine by me.
Posted by: Flat Broke | August 25, 2009, 11:19 am 11:19 am
“”"”"”"”"What huge error? They’re trying to predict on numbers back last quarter, etc. Perhaps it’s difficult to figure out? It’s ever changing.”"”"”"”
Posted by: Fedup
Well then quit giving us “estimates” that aren’t even close (ie errors). Oh, you must have voted for Obama and he doesn’t make “errors”. I don’t care what numbers he uses, he predicted to halve the deficit within 10 years and is stating now he’s not anywhere close to his estimate. That didn’t take long.Kind of like unemployment, health care, Gitmo, Afghanistan, etc.
Posted by: lfrichar | August 25, 2009, 11:19 am 11:19 am
At least on vacation he can’t spend any of our money. Sorry I forgot about the souvenirs.
Posted by: hkdakota | August 25, 2009, 11:19 am 11:19 am
Solution ………inflation
Posted by: Shocktroop | August 25, 2009, 11:20 am 11:20 am
Can anyone find that reset button? Last time we used it, we booted up to the blue screen of death. Now we can’t find the darn thing.
Posted by: KR | August 25, 2009, 11:21 am 11:21 am
“”"”The Gov, states and federal need to cut spending AND cut taxes.”"”"
Posted by: Flat Broke
I am hoping we can get through this by simply cutting spending and taxes remaining the same. When Bush’s tax cuts expire, we will have higher taxes, but Obama said he would not raise taxes ($250K or less), which technically he’s not. I am even willing to give into the expiration of those cuts, but I am hoping that is where it ends. As a lower/middle class tax “contributer”, he is receiving plenty form me to handle things. Bck off the health care for now, but appoint a committee to research costs and find out where the pharmas and doctors are price gouging us for now. As we recover, have a newly revamped plan ready to vote on. Take our time getting out of this mess first so we don’t find ourselves back in it in 2 years.
Posted by: lfrichar | August 25, 2009, 11:25 am 11:25 am
“the recession was simply worse than they thought” ?????? Heh, America, WAKE UP!! There’s a lying, theiving, bankrupting, . . . . politician in OUR White House!! He thinks Americans are all stupid. Of course, now he knows for sure that the “majority” of Americans are stupid because they elected him President.
Posted by: morekare | August 25, 2009, 11:26 am 11:26 am
The loony-left d-crat socialists have nationalized the American finance industry, the American auto industry and the American banking industry, and will soon nationalize the American healthcare industry They will eventually get around to nationalizing all aspects of the oil industry as well. National socialism requires the bloated federal government have absolute control of EVERYTHING.
The “War-on-Wealth” policies of the marxist drug addict and his hopelessly hopeless loony-left socialist d-crat sycophants are poised to cause great harm to the US economy and to American society.
We all will soon experience the dreadful consequences of the irresponsible pork-a-palooza and socialist welfare boondoggle hussein, the feckless fed and and the other loony-left d-crats, are pursuing. This “generational theft” will curtail economic growth and hobble the economy for decades. Welcome to the new and improved great depression. As the economy burns, hussein and pelosi wastefully spend the earnings of future generations as they goose-step the country down their “Road to Hell”.
“We’re drowning in unprecedented levels of red ink, and there is no plan to fix the situation. Having spent over a decade worrying about budget deficits, I can quite honestly say that things have never looked as bad as they do now,” said Maya MacGuineas, president of the bipartisan Committee for a Responsible Federal Budget
Let the morally, ethically, socially, politically and economically bankrupt loony-left dominated california be the wake-up call to all real Americans to take back our country from the incompetent and irresponsible d-crat socialists before they bankrupt us all.
Posted by: ALEX H. | August 25, 2009, 11:28 am 11:28 am
angie in pa…who started the war?,,,the terrorists remember..the terrorists, not bush but the terrorists…the same people who the cia have been protecting us against. the democrats are out of touch and had their 5 minutes of fame. time to go back in there caves.
Posted by: catman | August 25, 2009, 11:28 am 11:28 am
Watch as ABC and all the other networks offer President O’bama “cover” as O’bama keeps blaming everything on Bush.
The networks are so in th tank for this guy it is unbelievable.
Posted by: Dan Ro | August 25, 2009, 11:29 am 11:29 am
“The stimulus didn’t work… Cutting spending won’t hurt anyone except Goldman Sachs. Fine by me.
Flat Broke | Aug 25, 2009 11:19:24 AM
The quality of economic analysis we’ve sadly come to expect from Republicans, who, once upon a time, used to actually be better than Democrats in this regard.
Posted by: jhw539 | August 25, 2009, 11:31 am 11:31 am
A tax increase without a tax increase………………INFLATION
Posted by: Shocktroop | August 25, 2009, 11:31 am 11:31 am
ALEX H—-Amen.
Posted by: 912er | August 25, 2009, 11:33 am 11:33 am
Posted by: lfrichar | Aug 25, 2009 11:25:44 AM
Keping taxes the same on people with no jobs is not good. Lower taxes will also spur hiring. Lower taxes also menas less $ being sucked away to gov’t when people could spend it on other things of their choosing. I don’t think you’ll see lower taxes though. We’ll get hit with a VAT and consumption taxes. Watch.
Posted by: Flat Broke | August 25, 2009, 11:33 am 11:33 am
CATMAN
Yes the Terriost and they are in Afghanistan. Iraq had nothing to do with 911 we should of never went to Iraq but Focused on Afghanistan maybe we would of captured Bin Laden today if all of our money and troops wernt Poured into Iraq!
Posted by: Angie in Pa | August 25, 2009, 11:36 am 11:36 am
“The quality of economic analysis we’ve sadly come to expect from Republicans, who, once upon a time, used to actually be better than Democrats in this regard.”
When you assume…But you know this.
Posted by: Flat Broke | August 25, 2009, 11:37 am 11:37 am
With worsening Fed deficit and jobless rate, mostly due to job outsourcing overseas, the nation’s ability to support the health care reform which requires large increase in spending and government bureaucracy, is highly doubtful. Most of the middle Americans, especially the seniors, should be worried about the current health care benefit and the stability of dollars in the future.
Posted by: austin | August 25, 2009, 11:40 am 11:40 am
I wonder why Bush got a free pass in Aug 2001 when his White House came out and slashed in half their surplus estimates – which were heavily used to sell his trillion in tax cuts. Recall that he promised the surplus fully funded his tax cuts AND paid down the national debt AND put aside trillions for Social Security. Then, in Aug 2008 (before the excuse of 9/11 suddenly cutting our nation’s economic output by $5 trillion over the next 10 years) he came out and changed his surplus projection (targeted to funding social security properly) to $158bn for the 2001 fiscal year ending September 30, down from the $281bn surplus projected in his April budget.
He was not attacked in the media, he was not personally blamed for the budget adjustment – the archives are online, look it up. Why such hatred and bad press for Obama’s White House from the corporate media?
Posted by: jhw539 | August 25, 2009, 11:41 am 11:41 am
Angie in Pa ——— So it is your contention that Al Qaeda was all over the middle east, but never in Iraq? If you believe that, I have a bridge I want to sell you in Halabje. These comments are living in the past and do nothing but incite partisanship. Both parties funded the wars we have to live with today. Both parties continue to do so. Iraq will hopefully “vote” us out and then we turn to fnish Afgh. Still, the cost for both is about the same as Obama’s stimulus. It’s already done and we can’t undo.
Posted by: lfrichar | August 25, 2009, 11:46 am 11:46 am
so you all would rather have the bush terrorist back in the white house. these are the folks who gave you Iraq- remember brownie, wmd, the recession torture etc. etc. – too bad for all you angry guys – your day is over. never to return, you can tune in to Glen Beck and foam at the mouth with him – but what you need to remember – Obama was elected by those under 40 and some of us who are older. There are more of us than of you and we do vote. Check it out. ta
Posted by: vjr | August 25, 2009, 11:48 am 11:48 am
How about lowering the retirement age to 55? Think of the number of jobs that would free up. Sure, it would require more funding for Social Security, but it would bring unemployment down drastically.
Posted by: bluedem | August 25, 2009, 11:49 am 11:49 am
I agree that the deficits do not represent catastrophe in themselves. But Americans will elect anyone who promises low taxes over anyone who says he will tax enough to balance a budget.
Already, as a result, we’re being nickeled and dimed with higher road tolls, higher sales taxes, etc. because Governors don’t dare raise taxes.
Our National Guard is so depleted the Pentagon said, as Bush left office, that it’s less able to defend America than at any time in living memory.
Maryland can have winters with virtually no snow or a couple 2-foot blizzards among a lot of snow, so it’s not cost effective to maintain a huge amount of snow emergency vehicles. As a result, the National Guard is used to move medical and other critical personnel in such times. The Maryland National Guard took 300 vehicles to Iraq. It now has 2 (TWO!) Humvees. The rest are “scheduled” to be replaced in 2012. I hope we have no heart attack victims during snow storms!
And, as the government runs out of Soc. Sec. surplus to use, it’s going to reduce programs for elderly, education, etc. while sending over $100,000,000 per DAY to China in debt interest.
So the debt itself isn’t a tremendous problem. But America’s attitude toward it is.
Posted by: The_Mick | August 25, 2009, 11:56 am 11:56 am
jhw539 ——– Bush was not attacked by the media???? BS. Obama is not being attacked (yet). Bush was slammed for his last 4 years once the war support started deteriorating. Were you awake during that?
Posted by: lfrichar | August 25, 2009, 11:57 am 11:57 am
That is simply unacceptable.
The government must bring the deficit under control, and the citizens will have to bear the pain of making that happen.
We cannot maintain a strong country, on credit.
Posted by: Rick McDaniel | August 25, 2009, 11:59 am 11:59 am
“And, as the government runs out of Soc. Sec. surplus to use, it’s going to reduce programs for elderly, education, etc. while sending over $100,000,000 per DAY to China in debt interest.”
“So the debt itself isn’t a tremendous problem. But America’s attitude toward it is.”
$100,000,000 to the PRC each day and debt isn’t a problem? That’s lots of snowplows and road repair, bridge work, education…
Posted by: Maxed Out | August 25, 2009, 11:59 am 11:59 am
“”"”How about lowering the retirement age to 55? “”"”"
Posted by: bluedem
Less people paying in and more paying out. SS would be digging an even larger hole. Most people can’t afford to retire on solely SS and need to create more retirement income.
Posted by: lfrichar | August 25, 2009, 12:00 pm 12:00 pm
I wonder why jhw539 is concerned about how George Bush was treated in Aug 2001.I hate to break this to you but that was 8 years ago.It seems that many of your comments are based on the theory that Bush is responsible for everything and Obama is responsible for nothing.
Posted by: Nephron | August 25, 2009, 12:02 pm 12:02 pm
“”"”but what you need to remember – Obama was elected by those under 40 and some of us who are older. There are more of us than of you and we do vote.”"”"”
Posted by: vjr
OK, let me decipher this. “Obama was elected by those under 40 and some of us who are older”? So this means from ages 18 and over? So how are there “more of us than of you” if you included under and over 40? What a ridiculous post!
Posted by: lfrichar | August 25, 2009, 12:05 pm 12:05 pm
-It seems that many of your comments are based on the theory that Bush is responsible for everything and Obama is responsible for nothing.-
What Bush did is set in stone. Even if it isn’t, doing the same thing Bush did is awesome. The End.
Posted by: Igneous | August 25, 2009, 12:06 pm 12:06 pm
“I wonder why jhw539 is concerned about how George Bush was treated in Aug 2001.I hate to break this to you but that was 8 years ago.”
Posted by: Nephron
Because many folks like you perpetrate an absurd lie that the press favors Obama and savaged Bush. Here is an equivalent situation where the documented fact is that the press gave Bush a pass and are attacking Obama. The myth of a liberal press that is easy on Obama is a myth, but that is just based on reality.
To make a valid comparison of the press’s treatment of Bush in his first term versus Obama in his second term, yes you have to look back 8 years.
Posted by: jhw539 | August 25, 2009, 12:06 pm 12:06 pm
-Because many folks like you perpetrate an absurd lie that the press favors Obama and savaged Bush.-
Who had a tingle up their leg for Bush? Who wrote about Bush, The Lightworker?
Posted by: C. Matthews | August 25, 2009, 12:07 pm 12:07 pm
What in hell were we supposed to do?..back up Obama’s inauguration to some date during GWB’s final year in office? I AM DAMNED TIRED OF HEARING THE COMMUNITY ORGANIZER CONSTANTLY BLAMING EVERYONE BUT HIMSELF…..REMINDS ME OF WHAT’S HIS NAME IN IRAN….KNOCK IT OFF, POTUS….YOU HAVE THE RESPONSIBILITY…AND SO FAR, YOUR ECONOMIC CZARS AND YOU ARE FALLING ON YOUR COLLECTIVE FACES. To make folks feel good, we stimulate a business that was on the ropes by giving away dough for new cars….what’s next, food stamps for the masses? My suggestion…STOP SPENDING MONEY, WHICH IS CURRENTLY YOUR ONLY GOAL FOR YOUR LEGACY……AND I AM BEGINNING TO GET VERY SUSPECT ABOUT THAT……..get rid of some or all of your “Czars”…you have a Secretary of This and a Secretary of That….kind of a mediocre slate, I admit, but put them to work…and do so, independently of the White House….ie, the Gates approach…one of the very few who tells us what HE wants to do for the good of this country……….I didn’t like Bush either, but for all of our best interests, forget him and concentrate on YOUR JOB. Your handling of it leaves much to be desired, and it is not too long before all of us start looking a term two!!!!!
Posted by: just joe | August 25, 2009, 12:15 pm 12:15 pm
This is a non-story, recognized as such by the market, which didn’t even skip a beat when it was released. Like every other “news outlet” in this country (save for PBS, which few watch because it requires a third grade education)ABC releases the headline in order to grab attention as though it has a scoop. This is just a typical “pretty face journalist” trying to drum up interest to pad her resume and her annual evaluation. Nothing more, nothing less.
Posted by: sarahj | August 25, 2009, 12:18 pm 12:18 pm
‘This is just a typical “pretty face journalist” trying to drum up interest to pad her resume and her annual evaluation. Nothing more, nothing less.’
I find Ms. Travers quite cute actually. Probably looks great in a green dress. Women are so nasty to each other.
Posted by: Playa | August 25, 2009, 12:20 pm 12:20 pm
“Who had a tingle up their leg for Bush? Who wrote about Bush, The Lightworker?”
Posted by: C. Matthews
Did you EVER watch FoxNews?
Bush received the same fawning treatment from a few talking heads, just like Obama.
Posted by: jhw539 | August 25, 2009, 12:21 pm 12:21 pm
-Did you EVER watch FoxNews?
Bush received the same fawning treatment from a few talking heads, just like Obama.-
I just responded to your comment with 2 examples. Not my fault if you don’t like it. And no, I don’t watch TV news of any network.
Posted by: C. Matthews | August 25, 2009, 12:24 pm 12:24 pm
This ain’t got nothing to do with democrats and republicans. The past is history and this guy at the helm now is heading for the iceberg in spite of dire warnings.
The good news is that ACORN will try to organize any community that is left after the crash!
Posted by: Ed Taylor | August 25, 2009, 12:27 pm 12:27 pm
I just responded to your comment with 2 examples. Not my fault if you don’t like it. And no, I don’t watch TV news of any network.
Posted by: C. Matthews
You don’t watch TV news of any network, yet you GAVE TWO EXAMPLES FROM TV NEWS. ?
Go back to whoever fed you your talking points and ask them if they were watching TV in 2001 and the kind of ‘tingles’ being tossed Bush’s way by right leaning shows.
Posted by: jhw539 | August 25, 2009, 12:27 pm 12:27 pm
It is amazing that people are so quick to blame the current president who has only been in office for 8 months. The economy took 8 years to screw over why would you think it would take less then a year to clean up. Think of a baby, takes 2 minutes to poop on everything and then takes “Daddy” an hour to clean it up, and even longer to get the smell out. I mean honestly do all you Obama haters expect the majority of America to believe that your disdain for him stems from his political choices and not the color of his skin. I am a White woman and I can see the hatred. With your talk of “OUR” White House, he is American and he won the election, it is his White House as well. Remember “Rush” hoped he would fail and so do all of you….
Sad.
Posted by: Suchhostility | August 25, 2009, 12:28 pm 12:28 pm
“The past is history ”
Ed Taylor | Aug 25, 2009 12:27:15 PM
Ever hear of trying to, you know, actually learn from history? America has had an 8 year example of how well the Republican philosophy worked. Perhaps before jumping on a tax cut to help the economy, we should look at how well the trillions Bush dumped into them did to get the economy (and job creation) humming? Just to be radical and try to set policy based on documented reality and what has been proven NOT to work in the very recent pass.
Posted by: jhw539 | August 25, 2009, 12:29 pm 12:29 pm
“Go back to whoever fed you your talking points and ask them if they were watching TV in 2001 and the kind of ‘tingles’ being tossed Bush’s way by right leaning shows.”
Listen, you asked asked a question. I gave you 2 really recent examples. Give me one for Bush. I’m having my ‘feeders’ look for one too!
Posted by: C. Matthews | August 25, 2009, 12:32 pm 12:32 pm
Did the press ever ask Obama why he didn’t release his medical records?Did the press ever ask Obama why he didn’t release his school transcripts? Did the press ever ask why he was unaware of Rev. Wright’t racism?Did the press ever look into his relationship with Bill Ayers in more than a minimal fashion? Barack Obama has gotten a free ride from the press-a blind man on a galloping horse can see that.
Posted by: Nephron | August 25, 2009, 12:33 pm 12:33 pm
jhw539 ——- Your silly comparisan to 2001 does nothing to further this debate. I am not comparing popularity, I am upset about the mistakes that are piling up. You can look and judge what happened in the past (as Dems always do), I am an Independent and I worry about what is and is going to happen. Keep your past critical thinking BS to yourself and talk like a normal person instead of trying to prove some weird theory that Dems are “intelligent and educated”. Well, the Dems “educated guess” on the deficit doesn’t seem very intelligent to me. I guess we can call it an “educated guess” that missed its’ mark.
Posted by: lfrichar | August 25, 2009, 12:34 pm 12:34 pm
“You can look and judge what happened in the past (as Dems always do), I am an Independent and I worry about what is and is going to happen. ”
Posted by: lfrichar |
Wow. So you have no interested in learning anything from recent history and actual collected data, the fundamental basis of modern science. The Founding Fathers would be disgusted (actually, you’re exactly the unthinking mob they had in mind when they fashioned a representative rather than direct Democracy).
Posted by: jhw539 | August 25, 2009, 12:36 pm 12:36 pm
Let’s examine this problem.
#1. We have outsourced so many jobs to India, China, Mexico etc. Its a wonder we have any employment at all. American business people have screwed us big time and have left us with the crumbs. The primary culprit is the right wing me me me me me party. Let’s face the facts Rush Limbaugh and his Kool Aid have infected our country worse than AIDS. We are so screwed.
Posted by: Ronald Wagner | August 25, 2009, 12:36 pm 12:36 pm
Doctors are fying in to the UK from Poland, Lithuania, Italy, Switzerland and points East to serve British subjects. Seems not enough NHS doctors are willing to work on weekends or in the evenings.
And of course there are not doctors other than NHS doctors.
Posted by: Fascist Hyena | August 25, 2009, 12:37 pm 12:37 pm
Suchhostility —- So as long as Obama clears this all up in 8 years we should just give him a free pass? The economy tanked in early 2007. Prior to that there were warning signs of a housing bubble and bad loans. But, the truth is the economy recovered from 911 with much optimism. Everything hit the middle of Bush’s 2nd term. Eventhough he ran a deficit, we were all more concerned with 911. Point, it didn’t take 8 years for this recession to happen. The housing bubble took longer and when it added to the recession woes, we got hit hard. Not everything Bush did was bad and you can’t just blame his 8 years on this problem. It is more complex than that. If it makes you feel better to blame it on Bush, that’s all you. Both parties worked hard at partisanship to screw this whole thing up.
Posted by: lfrichar | August 25, 2009, 12:43 pm 12:43 pm
Remember Wall Street and bankers telling us the sky would fall if we did not immediately give them $170B (oct.08)? They said if they did not get it immediatley there would be widespread unemployment and doom and gloom for years. So the wimps we call Congress gave them what they wanted and they spent $165B of the $170B on bonuses for themselves. What did we get? Massive unemployment, unprecedented loss of income in home and 401k’s, loss of income, and now this will contiue for 10 years as hugely higher taxes. So next time Wall Street or the bankers play the sky is falling game – don’t give them a darn cent – let them rot. If we go down, at least they will go down with us next time. Lying excessively greedy scum bags
Posted by: eyeonyou | August 25, 2009, 12:43 pm 12:43 pm
Let’s examine this problem.
#1. We have outsourced so many jobs to India, China, Mexico etc. Its a wonder we have any employment at all. American business people have screwed us big time and have left us with the crumbs. The primary culprit is the right wing me me me me me party. Let’s face the facts Rush Limbaugh and his Kool Aid have infected our country worse than AIDS. We are so screwed.
Posted by: Ronald Wagner | Aug 25, 2009 12:36:35 PM
Sounds like you need to take some economic classes. Simply put, we sell on a GLOBAL market ane have to compete globably. Bottom line, is if our prices are higher than someone elses than we do not sell our goods. Economica 101.
Posted by: billy bob | August 25, 2009, 12:45 pm 12:45 pm
I do blame the current idolized president. He can choose not to sign these enormous deficti busting bills into law. He can choose to say no to a 3.4 Trillion dollar budget. He can choose to say no to a wrong headed socialistic huge spending approach to solving issues. This Administration and Congress are out of control!
Posted by: Mike | August 25, 2009, 12:45 pm 12:45 pm
Associated Press, March 20, 2009:
“The new Congressional Budget Office figures offered a far more dire outlook for Obama’s budget than the new administration predicted just last month — a deficit $2.3 trillion worse. It’s a prospect even the president’s own budget director called unsustainable.”
Posted by: Fascist Hyena | August 25, 2009, 12:46 pm 12:46 pm
I see alot of comments here decrying the past actions of president Bush. Those who forget history are doomed to repeat it.
Well America, History has been repeated and nothing was learned.
Anyone see the new forecast from the Obama admin on BBCnews.com of 9 trillion deficit from 2010-2019?
The past isn’t just being repeated but multiplied. People will look back at Bush years debt like a gentle reprieve.
Posted by: Steve | August 25, 2009, 12:46 pm 12:46 pm
jhw539 ——– Let me point this out, this issue is about the deficit Obama was suppose to cut in half by his first term end, not some comparison you are doing about the media. We all learn from the past which for me is common sense. It appears for you that is a chore. But, if you want the truth, we do need to invest in small business to try and open up some jobs in the near term. This would be good use of stimulus funds or short term small businesses tax breaks. Do you disagree with this? You do realize how much of our economy hinges on small business?
Posted by: lfrichar | August 25, 2009, 12:47 pm 12:47 pm
The Office of Management and Budget also forecasts that the U.S. economy will shrink 2.8 percent this year, worse than the 1.2 percent contraction the OMB projected in May. For next year, the budget office said the gross domestic product will grow 2.0 percent, less than the 3.2 percent expected in May.
So–three months from now, what will be their forecast for the costs of Obamacare?
Posted by: Fascist Hyena | August 25, 2009, 12:49 pm 12:49 pm
I have a solution ………a tax increase without a tax increase………INFLATION = economics an increase in the supply of currency or credit relative to the availability of goods and services, resulting in higher prices and a decrease in the purchasing power of money
Posted by: Shocktroop | August 25, 2009, 12:50 pm 12:50 pm
Have you heard about Obamas green jobs Czar? He was a member of several radical org. and at one time considered himself a communist. He has been arrested several times and is advising the president. He is the one who came up with the cash for clunkers program. He was vetted by the white house not the senate because he is a Czar.
Posted by: billy bob | August 25, 2009, 12:51 pm 12:51 pm
“The Founding Fathers would be disgusted”
I bet they would. They didn’t want bankers running America.
Posted by: Flat Broke | August 25, 2009, 12:53 pm 12:53 pm
9 trillion for Obama and his out of control spending team and party. he is on vacation and we are at war with rising oil prices and gas. Man I wish The Shehan crowd would protest him at his vacation spot and his home. Oh, they wont. They are still in a drug trance and listening to the preacher speak that they can do it. And they sure did. Bankrupt our country for generations and turned it more socialized. Thanks can doers. Hold your heads up high for this. Oh, The economy is worse than he expected. Glad we got a stimulus.
Posted by: Jim Rod | August 25, 2009, 12:53 pm 12:53 pm
C. Matthews:”Listen, you asked asked a question. I gave you 2 really recent examples.”
You also gave an obvious lie about not watching TV news, while your examples came from… TV news. I’m a bit hesitant to debate with someone who not only lies but does so in a manner clearly insulting my intelligence.
“Give me one for Bush. I’m having my ‘feeders’ look for one too!”
In April, Bush actually taped a congratulation to FoxNews ‘journalist’ Tony Snow, complementing him on his “impressive transition to journalism.” Years later, Bush hired him outright to be his press secretary.
John Gibson during the Florida recount:”I think what’s going on is the Democratic lawyers have flooded Florida. They are afraid of George W. Bush becoming president and instituting tort reform and their gravy train will be over. This is the trial association’s full court press to make sure Bush does not win.”
Since you don’t want news, how about push polls?
“”Who would be the most likely to cheat at cards– Bill Clinton or Al Gore?”–Fox News Channel/Opinion Dynamics poll (5/00)”
Posted by: | Aug 25, 2009
Posted by: jhw539 | August 25, 2009, 12:55 pm 12:55 pm
What obama found himself with and what he has done with the situation are the real issues.
Create massive debt!
Ignore unemployment, to concentrate on a
massive health care bill, that was clearly another massive subterfuge for social engineering and – Yes more massive debt.
Now, without the health care bill scam,
we find out that we will be 2 Trillion off.
The economy cannot recover with out reversing unemployment. Health Care at this point is a second priority.
We are a consumer nation. No jobs – No
growth.
The blind obcession with healty care RIGHT NOW is suspect at best.
Posted by: DK | August 25, 2009, 12:56 pm 12:56 pm
Van Jones is Obamas green jobs czar, just google him if you want to know what kind of radicals are advising the president. This guy is really scary.
Posted by: billy bob | August 25, 2009, 12:57 pm 12:57 pm
wine, wine, wine…Bush, Bush, Bush. When will this anti-American socialistic communist empty suit sweet talker and nothing else stand up and be a man? Never. You guys elected a loser, the sooner you admit it the sooner we can get him out and move this country forward.
Posted by: pops | August 25, 2009, 12:59 pm 12:59 pm
We all learn from the past which for me is common sense.
Posted by: lfrichar
You can look and judge what happened in the past (as Dems always do), I am an Independent and I worry about what is and is going to happen. Keep your past critical thinking BS to yourself
Posted by: lfrichar
Did someone steal your name or something? These posts can’t have come from the same person.
“Let me point this out, this issue is about the deficit Obama was suppose to cut in half by his first term end” – lfrichar
You never did give me the actual citation for that pledge either. What were his actual words, or does what he really promised not matter to you? Here’s a hint – it was not about the 10 year cumulative deficit.
Posted by: jhw539 | August 25, 2009, 1:03 pm 1:03 pm
DK:”Create massive debt!
Ignore unemployment,”
So he created massive debt (stimulus bill that creates jobs – that money isn’t being burnt, it is going into paychecks and a third of it is taxes left in your pocket) AND ignores unemployment…
?
I’m taking a break to talk to the dining room table. At least it lies less and is consistent in its views.
Posted by: jhw539 | August 25, 2009, 1:05 pm 1:05 pm
I’m taking a break to talk to the dining room table. At least it lies less and is consistent in its views.
Quitter.
Posted by: C. Matthews | August 25, 2009, 1:09 pm 1:09 pm
Van Jones is Obamas green jobs czar, just google him if you want to know what kind of radicals are advising the president. This guy is really scary.
All of obamas czars do not have to be vetted by the senate, only by the white house. This guy has a criminal record and has been a self proclaimed communist.
Posted by: billy bob | August 25, 2009, 1:14 pm 1:14 pm
This is yet another cog in the overthrow of freedom by a person that is not an American. I will never forgive you people that voted for this want-a-be dictator. Everything he has done so far is aimed at making America beholding to him and his (not our) government. If we the people let him continue with the socialising programs then we have signed our death certificate.
Posted by: pops | August 25, 2009, 1:21 pm 1:21 pm
-This guy has a criminal record and has been a self proclaimed communist.-
Least he admits it.
Posted by: C. Matthews | August 25, 2009, 1:24 pm 1:24 pm
Zandi predicted Congress will pass a second “mini” stimulus bill next year of about $250 billion to aid jobless workers, state governments and tax credits to help home buyers. “The economy will be growing at an uncomfortably slow rate, not enough to bring down unemployment, and of course it’s an election year” for Congress, he said.
—————————————–
Just TRY passing that crap. I DARE YOU.
Posted by: sigh | August 25, 2009, 1:26 pm 1:26 pm
-This guy has a criminal record and has been a self proclaimed communist.-
Least he admits it.
Posted by: C. Matthews
And you are ok with that???? Do some research on him and then say that.
Posted by: billy bob | August 25, 2009, 1:28 pm 1:28 pm
Posted by: C. Matthews
And you are ok with that???? Do some research on him and then say that.
Nothing to like about it. I just appreciate the honesty.
Posted by: C. Matthews | August 25, 2009, 1:31 pm 1:31 pm
Obama lies and just keeps lying…He’s the Energizer Liar.
Posted by: PotatoeGater22 | August 25, 2009, 1:36 pm 1:36 pm
Obama lies and just keeps lying…He’s the Energizer Liar.
Posted by: PotatoeGater22 | August 25, 2009, 1:36 pm 1:36 pm
WHEN BARRY LIES HIS NOSE DOESN’T GET BIGGER……….THE DEFICIT DOES!!
Back to guessing I see!!
Posted by: American Infidel | August 25, 2009, 1:40 pm 1:40 pm
I guess the majority will not bother to look at the following lie from Obama
White House and see it for the lie it is. “The Obama administration pointed the finger at the Bush White House for not following PAYGO rules, and says the projected 10-year deficit would be $5 trillion smaller if they had.” I ask who was in charge of the House of Representatives after 2006 elections? It was the democrats. All money bills start in the House and not a dime can be appropriated without the approval of the House. Therefore, how do you Blame Bush for the money spent after the 2006 congress took office? I would say that would put the Democratic House at least on a par with bush for excessive spending. In addition Bush and several Republican members of the House and Senate tried to get Congress to provide some oversight to the Freddie Mac & Fannie Mae debacle that was about to shake the very foundation of the free world, but to no avail Barney Franks and Senator Dodd would not allow it. IF everyone would remember that the economy went south the first time right after 9/11, but that bad old Bush managed to get us down to around 4.5% unemployment and it held there until after the 2006 election. Those who do not learn from history are doomed to repeat it! No one has ever, “EVER” spent theuir way outf debt!!!
Posted by: WILD BILL | August 25, 2009, 1:54 pm 1:54 pm
The military gave up the F-22 and the new Presidential helo. Congress was just “forced” to give up $$$ millions because they decided not to buy brand new top of the line private jets. How about our Congress fly 1st class or coach? There are plenty of places to tighten. We shold start with cutting the many Czars our prez has annointed.
Posted by: lfrichar | August 25, 2009, 1:58 pm 1:58 pm
I see Warren Buffet’s economic forecast is gloom and doom. It appears he is jumping off the Obama bus. Probably only to be thrown under it soon enough.
Posted by: Boxcar | August 25, 2009, 2:02 pm 2:02 pm
Hey, he’s just a man, not a messiah. He guessed wrong – so what, cut him some slack. Yeesh, what happened to that hopey changey, calm the seas, heal the planet guy?
Posted by: ConservativeWoman | August 25, 2009, 2:12 pm 2:12 pm
some body please take the credit card away from this administration.they want to run health care.after cash for clunkers. when will this madness end.when we are broke beyond return.
Posted by: jim bradford | August 25, 2009, 2:13 pm 2:13 pm
This is yet another cog in the overthrow of freedom by a person that is not an American. I will never forgive you people that voted for this want-a-be dictator. Everything he has done so far is aimed at making America beholding to him and his (not our) government. If we the people let him continue with the socialising programs then we have signed our death certificate.
Posted by: pops | Aug 25, 2009 1:21:27 PM
And I’ll never forgive you for voting for Bush twice and peddling accusations and lies? So what? I don’t give two hoots about your forgiveness. I care about the next few generations, science, liberty and equal opportunity in lockstep, universal health care, recovering from the brink of depression.
Posted by: Alyson | August 25, 2009, 2:33 pm 2:33 pm
Alyson | Aug 25, 2009 2:33:37 PM I care about the next few generations+++++Doesnt sound like to me if you approve of his unabated spending.
Posted by: Boxcar | August 25, 2009, 2:47 pm 2:47 pm
Only ~ 8-12% of of the stimulus bill has been spend after being ramrodded through in 2 days. And there’s still interest in a 2nd? If theses guys went to Ivy league schools, what does that say about those schools (or their grads)?
Posted by: deanbob | August 25, 2009, 2:58 pm 2:58 pm
(Getting these deficits under control is a “top priority of the administration,” said Peter Orszag). If that is the top priority, you could have fooled me.
Posted by: deanbob | August 25, 2009, 3:02 pm 3:02 pm
-I care about the next few generations, science, liberty and equal opportunity in lockstep, universal health care, recovering from the brink of depression.-
You’re going to be disappointed.
Posted by: Flat Broke | August 25, 2009, 3:12 pm 3:12 pm
This insanity must be stopped! If this administration is going to prosecute the Bush administration for protecting our citizens, just think what the republicans will do to the Obama administration for changing our entire form of government without a majority vote (see the Federal Registry)
Posted by: Robert Weathers | August 25, 2009, 3:12 pm 3:12 pm
“If this administration is going to prosecute the Bush administration for protecting our citizens”
The Bush administration failed terribly in protecting its citizens on 9/11, then overreacted by attacking the wrong country (Iraq) plunging the country into further conflict and debt, and then beginning systematic torture, secret prisons, lies to the American public and so on.
If they have broken the law, let them pay.
Posted by: steve | August 25, 2009, 3:57 pm 3:57 pm
Obama is NOT running this country…he is only the PR person running around this country espousing about healthcare and the guy has no idea what is in the plan and does not plan to read it!! I don’t think he even knows how many zeros in a trillion means! He is in way over his head and he is a PUPPET for the gang of theives who really run the whitehouse!!
Posted by: ross | August 25, 2009, 4:20 pm 4:20 pm
“Obama is NOT running this country…he is only the PR person running around this country espousing about healthcare and the guy has no idea what is in the plan and does not plan to read it!!”
Double exclamation points are not going to make this lie true. It started when Obama was asked to comment on a false claim that appeared in Investor’s Business Daily. IBD had claimed there was a provision which would make individual private medical insurance illegal. Obama responded, “You know, I have to say that I am not familiar with the provision you’re talking about.” Simply, he could not possibly be familiar with a provision that doesn’t exist.
From there, Rush Limbaugh, Fox Folks, and other right wing sources began spreading the mistruth that the President hasn’t read the bill. And like a cancer, the lie has mutated and spread all over the place.
And speaking of puppets…
Posted by: WWW | August 25, 2009, 4:41 pm 4:41 pm
The fundamental problem with the stimulus bill is that it actually provides very little stimulus. It should be called for what it is – “the political payoff” bill. As Rahm Emanuel said, “You never let a serious crisis go to waste. And what I mean by that it’s an opportunity to do things you think you could not do before.” The only money that has been spent to date is funding for the public employee unions to avoid layoffs at the state government level.
The stimulus idea that was suggested by U of Chicago economists instead of politicians was a 3 month federal tax holiday that could be administered by simply ending federal tax withholding. This would pump $300 Billion into the economy over 90 days and should stimulate consumer spending. As people start spending again, retailers and restaurants begin hiring, inventories get depleted and manufacturing activity picks up. This would also end the need for TARP since the money would eventually end up in the banks and solve the impaired capital issue and restart lending. Of course, Americans would then have restored faith in the capitalist system, which has led us to the highest living standards in the world, and that spells trouble for those who are trying to move the country to socialism.
Posted by: Rob | August 25, 2009, 5:32 pm 5:32 pm
Rob
A huge portion of the Recovery and Reinvestment Act was in tax cuts! You would do better to study the actual bill rather than pie in the sky theories.
Posted by: steve | August 25, 2009, 5:42 pm 5:42 pm
“A huge portion of the Recovery and Reinvestment Act was in tax cuts! You would do better to study the actual bill rather than pie in the sky theories.”
My God, you mean people got to keep more of what they earned!? Blasphemy!
PS
“No Republicans in the House and only three Republican Senators voted for the bill.[1][2][3] The bill was signed into law on February 17 by President Obama at an economic forum he was hosting in Denver, Colorado.[4]”
I will admit, Democrats voting for tax cuts is very odd…
Posted by: Aghast | August 25, 2009, 6:19 pm 6:19 pm
WHEN OBAMA QUITS SMOKING I COULD BELIEVE THAT HE IS SERIOUS ABOUT HEALTH CARE.
Posted by: Manitu | August 25, 2009, 6:25 pm 6:25 pm
The “welfare” state appears to be having problems paying its bills around the world. It seems to despoil the underlying economy no matter where it is.
Posted by: Michael R. Brown | August 25, 2009, 6:37 pm 6:37 pm
“In other words, more than half of the projected deficits over the next 10 years are directly attributable to the previous administration’s failure to follow the pay-as-you-go principle,” a fact sheet from the White House Office of Management and Budget stated.”
===================================
Didn’t then-Senator Obama support the budgets that led to the deficits his administration now blames on his predecessor? Wasn’t Congress (who submits budgets for Presidential approval) led by Democrats the past two years?
Another day, more hypocrisy, more lies.
Posted by: tjp612 | August 25, 2009, 6:38 pm 6:38 pm
Good thing the “stimulus” will keep unemployment from topping 8% this year…oh, wait a second…
Posted by: tjp612 | August 25, 2009, 6:42 pm 6:42 pm
I STILL THINK THAT SOME OF MY FELLOW CONSERVATIVES WERE WRONG TO SIT OUT THE PRESIDENTIAL ELECTION, HOPING FOR A DISASTER, WITH ANOTHER RONALD REAGAN TO COME FORWARD AND SAVE US. PROBLEM IS THAT WITH THE OBAMA VICTORY, TOO MUCH DAMAGE CAN AND IS BEING DONE TO THIS COUNTRY IN VERY SHORT PERIOD OF TIME HOWEVER, THEIR PREDICTION FOR AN OBAMA DISASTER WAS SPOT ON. THIS DISASTER!!
MITT ROMNEY WAS NOT MY FIRST CHOICE, BUT LOOKING BACK, HE SHOULD HAVE BEEN AND HE IS NOW.
ANYONE SEEN THE RASMUSSEN PRESIDENTIAL POLL TODAY? PRETTY MUCH TELLS IT ALL.
Posted by: Manitu | August 25, 2009, 6:44 pm 6:44 pm
Yeah, like Obama says that illegals will NOT be covered under HR3200..reality is that obama is planning on giving all these illegals AMNESTY before any health plan is active…ergo…they won’t be illegal anymore and will be able to hop on to Obama’s medicaid plan!! Like abortion won’t be covered either…but that is not what “Women’s Reproductive Services” in HR3200 says! And I am a democrat changing to Consevative in next election along with millions of Americans who see exactly where this country is headed and we will stop it!
Posted by: ross | August 25, 2009, 7:19 pm 7:19 pm
Mr. President you can’t be honest with the American people because you’re not honest with yourself. Your ideology for America is to move towards a more soci@list society your past has proven that. Mr. President you need to come out and said it. I’m for a more soci@list society, I’m for the redistribution of wealth, and I’m for big government control and I don’t believe or trust capitalism. Maybe America is ready to transcend from a Republic country to Soci@list state. Don’t try to sugar coat or disguise your agenda just come out and say it
Posted by: Shocktroop | August 25, 2009, 7:20 pm 7:20 pm
“ANYONE SEEN THE RASMUSSEN PRESIDENTIAL POLL TODAY? PRETTY MUCH TELLS IT ALL.”
If you’re referring to the daily job approval rating, yes, I saw it. It’s at 49%, which remains unchanged since yesterday but up one percent since Saturday.
Posted by: Numeros | August 25, 2009, 7:22 pm 7:22 pm
Not to worry!
According to Peter Orszag, Getting these deficits under control is a “top priority of the administration.”
We may have to pass a third term law for Obama since the projection show no progress in the next decade.
Plus, note that only deficits are being discussed. They seemingly ignore that the ever looming national debt is doubling as a result of only deficits and no plan to mitigate.
And I mean no plan by democrat or republican!
Posted by: Ed Taylor | August 25, 2009, 8:11 pm 8:11 pm
The USA is becoming a continent of debt. In due course this will lead to death and destruction on a huge scale across the USA. This money is not free it is paying debt with debt and then that debt with more debt. Get the message your leaders are selling the country and your children’s future will be misery piled on misery! You already have tent cities, wake up for God’s sake you have become a lazy, indolent, obese nation who is living on borrowed time!
Posted by: Robert Browne | August 25, 2009, 9:10 pm 9:10 pm
Obamanomics banks too big to fail! Red hot printing presses! people living in tent cities and cars! The country being swamped with unemployment and still the immigrants arrive in droves. The American Dream, it seems, even this nightmare is better than living in Guatemala or Mexico but what consolation is that if you are an American out of work!
Wall Street changing accounting rules to hide insolvencies. Banks still paying immoral bonuses! The government can think of only one response, “print more money” which means, squander peoples futures so that they can pretend that we are alright for another day. In short, live for today and let tomorrow take care of itself! Political bankruptcy and financial bankruptcy. The Constitution of America has been trodden underfoot! Greenspan should join Madoff in jail!
Posted by: Robert Browne | August 25, 2009, 9:29 pm 9:29 pm
“The USA is becoming a continent of debt.”
Gosh, they told me Africa was a continent and not a country. Now the USA is a continent and not a country? Gee whiz, this geography stuff is so hard to remember!
Posted by: S Palin | August 25, 2009, 10:00 pm 10:00 pm
Obama was off by only $2T! Give that man a big bonus.
Posted by: jim | August 25, 2009, 10:23 pm 10:23 pm
Rasmussen shows 29% Strongly Approve, 40% Strongly Disapprove.
Devastating numbers for this president. Glad to see that the left-wing goofballs are following those polls–they pretty much tell the story.
Posted by: Fascist Hyena | August 25, 2009, 10:27 pm 10:27 pm
How do our brave men and women in Afghanistan feel about this president who has never worn a uniform? Do you suppose that he hardly ever mentions them because is ashamed to? What does he have in mind for them? Will they continue to die at an ever-increasing rate while he virtually ignores them?
Posted by: Fascist Hyena | August 25, 2009, 10:49 pm 10:49 pm
Cancel the 9/12 march on Washington and let’s go to Martha’s Vineyard this weekend ..see your deficit at work.
Posted by: Anvil | August 25, 2009, 11:48 pm 11:48 pm
“The USA is becoming a continent of debt.”
Gosh, they told me Africa was a continent and not a country. Now the USA is a continent and not a country? Gee whiz, this geography stuff is so hard to remember!
Posted by: S Palin | Aug 25, 2009 10:00:53 PM
****
Thanks for the laugh to start my day.
Posted by: Alyson | August 26, 2009, 7:51 am 7:51 am
It is interesting – 6 months ago this blog was filled with all the mania about the new President. There were active debates from both sides of the political spectrum.
Now – a few short months into this Presidency this blog is filled with outrage at the amount of money this administration is spending – and, interestingly, it is from both sides of the political spectrum as well.
Posted by: Lone Star Rules | August 31, 2009, 7:37 am 7:37 am
One semi-positive projection is that the size of this year’s deficit has fallen by almost $262 billion (about 1.7 percent of GDP) and is projected to be $1.58 trillion… whats positive about this? that is up 300 percent from last year. Shouldnt we be trying to reduce spending?
Posted by: DAVID | October 8, 2009, 8:52 am 8:52 am
HOPE AND CHANGE…. I THINK THE CHANGE WAS MEANT TO REPRESENT THE GOVERNMENT COMING TO EACH OF OUR HOMES AND CHECKING THE CUSHIONS OF OUR COUCH FOR SOME EXTRA CHANGE TO ENSURE THEY DID NOT MISS ANYTHING.
Posted by: DAVID | October 8, 2009, 9:00 am 9:00 am