Obama’s Broken Deficit Promise

His entire presidency has been a sham and a failure.

Fair share, i am guessing that does not mean a flat tax across the board… the only real fair tax

Ummm…Lexington, you may want to note that JUNE 2009 was the end of the recession. IN June 2009, Obama hadn’t spent trillions in stimulus which was nothing more than REdistribution of my taxmoney into Obama’s buddies pockets like the Solyndria SCAM and many of his other green scams and road sign scams and hiring of his socialist crooks scams etc etc. Of course we are still hemorraging money———Obama is continuing to redistribute it.

we don’t lie ABC, you know that, now get in line with the offical white house talking points

There are many reasons why this country’s budget deficit will not be cured for years to come. We are still involved in a war in Afghanistan that cannot be won by the US. It is costing trillions of dollars to continue, not to mention the loss of American lives. This country continues to subsidize the oil industry, while it is turning profits of historic levels. The wealthy flat refuse to pay their fair share of taxes, with those “paying capital gains taxes of 15%” not contributing one thin dime towards social security or medicare at unprecedented proportions. Manufacturing jobs will not come back to the US unless Americans make a concerted effort to purchase American made goods, only, which will not happen because we want the cheapest of cheap prices for designer goods, making it impossible for these items to be made domestically. Current jobs being created are not at salary levels at the peak of the last decade, as the residential market collapse wiped out a large portion of high incomes in multiple related industries. All this being said, is this the sole fault of the President? I don’t think so. The public’s opinon of Congress is at an all time low; that’s where the problem with this country’s budget lies. You are plain ignorant if you think this situation is President Obama’s fault.

Oh no! A politician did not fulfill a campaign promise? What on earth is this country coming to, when a politician promises the moon and doesn’t deliver it? It’s really sad, too, that Obama is the very first politician in history to do this. Up until he came along, every other elected official fulfilled every one of their campaign promises. Oh, the humanity………………………………………..

I knew he wasn’t going to pull this off when it came out of mouth… just like every idiot that has run for office before him, they make promises to get them elected…. sadly, he was “Best” of the two choices in the last election. At this point and time, I still stand by my choice, but I truly hope that someone “BETTER” (and I truly don’t think it would take much) would run, and I don’t care if they Dem or Repub. We CAN do better.

Sean | February 13, 2012, 2:17 pm post:

Well, mathematically, it could be balanced that way. Meaning, the richest 1% own a lot more than $1.4 trillion in treasure. Hell, we have over 400 billionaires alone in this country. Their collective net worth alone approaches a trillion. So yes, in fact, if the government were to confiscate everything from the top 1%, they could eliminate the deficit and pay something down on the Debt. Obviously this is all pure mental masturbation, since it will never happen. But mathematically, you are incorrect.

This one of the most irresponsible pieces of editorial journalism I have read. For a member of press to ignore the fact that Congressional Republicans obstructionist agenda as the major obstacle to deficit reduction is shameful and unethical.

“Tax relief is central to my plan to encourage economic growth, and we can proceed with tax relief without fear of budget deficits, even if the economy softens,” Bush promised. [Bush Remarks at Western Michigan University, 3/27/01

“And after we fund important priorities in the ongoing operations of our Government, I believe we ought to pay down national debt. And so my budget pays down a record $2 trillion in debt over the next 10 years.” [Bush Remarks to the American College of Cardiology, 3/21/01

The results? Increased deficits. A doubled national debt.

But what would the deficit be if Republicans hadn’t stymied so many bills that would have decreased it? The right wingers pretend the President has powers that he simply doesn’t have, unless a Republicans is president and then they blame Democrats for blocking him.
The Republicans politicians didn’t want a full economic recovery or a more balanced budget and their votes show that.

Posted by: Jesse | February 13, 2012, 3:12 pm 3:12 pm

Now you’re quoting Bush’s 11 year old speeches? LOL! Bush hasn’t been President for three years, loon.

Posted by: Jesse | February 13, 2012, 3:12 pm 3:12 pm

We can save a lot of debt by eliminating your welfare assistance. Then you’ll have to stop leeching and will have to find a job and actually pay taxes to help pay for hope and change. That’s change I can really believe in.

“But what would the deficit be if Republicans hadn’t stymied so many bills that would have decreased it?”
Posted by: Librarian53
Seriously, do you ever stop spinning and BSing? The Republicans thankfully “stymied” bills for moreand more misguided spending. And the Senate (democratically controlled) rejected Obama’s last budget immediately and out of hand, the same Dem Senate that hasn’t even passed ANY budget in several years now. Please get honest.

Hope and Change. Translation: We can all only Hope (probably in vain) that we have some small Change left to jingle in our pockets when Obama’s term is mercifully ended.

To snewsome2997: Yes, let’s go ahead and cut all entitlements, such as those where the average American taxpayer PAID IN, like, say, Medicare and Social Security. Let’s see how popular any politician would be supporting that ridiculous notion. I sure hope YOU are not on Social Security or relying on Medicare; you’d be the first one who should be cut. When all US citizens can act like Mr. Romney and pay taxes at 15% on a $1 million salary disguised as “capital gains” and hide hundreds of millions of dollars in ‘trusts’ and ‘investments’ offshore and pay no taxes on those investments, there might be more sympathy towards your opinion. For all of the blowhards out there complaining about taxes, what you really mean is it is okay for everyone else to pay their fair share, but not you. This country has been running on fumes for decades, and it is now time to pay the piper; including those privileged few, who think they are “entitled” to not pay at all!

“Yes, let’s go ahead and cut all entitlements, such as those where the average American taxpayer PAID IN, like, say, Medicare and Social Security. Let’s see how popular any politician would be supporting that ridiculous notion.”

Posted by: rohnertpark1 | February 13, 2012, 3:55 pm 3:55 pm

“Everybody has got to make some sacrifices, everybody’s gotta take a haircut.” – President Barack Obama (4/5/11)

It’s time to “eat our peas.” – President Barack Obama (7/11/11)

Except for President Obama. He’ll be just fine. You, not so much.

Candidate Obama 2008: “The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.”. More spending, more deficits – I guess by using his own words, Obama is being irresponsible and unpatriotic. It appears that he owes his predecessor an apology.

about the only thing i’ve learned from the obama presidency is as follows: 1) if bush did it and obama didn’t continue doing it it was evil for bush to do it in the first place and 2) if bush did it and obama continues to do it it is good because obama is doing it (but it wasn’t necessarily good when bush did it because bush was doing it) or something like that.

We don’t need to raise my taxes to help close deficits…we can just cut government benefits, protections, and services for working class Americans instead. I’m expecting them to eventually see the wisdom in those policies.

The economic collapse under Bush was the largest economic collapse since the Great Depression. During the Great Depression, the national deficit rose to over 25% of GDP. During this recession, the deficit peaked about about 10%.

Research your history.

Some people here will defend this president no matter what he does or does not do. Do politicians make promises they can’t keep. Sure they do. But this president said he was going to be different. He said things were going to change. He broke his promise, and he’s not even trying to reduce the spending that might make the goal of reducing the debt possible. He’s just another politician making promises to get elected. What a shame.

Posted by: Ramgad | February 13, 2012, 5:36 pm 5:36 pm

It was the largest economic collapse in American history, second only to the Great Depression. You might want to do some research.

I am voting for Romney. As a non-religious person, I like his moderate stance. I trust his integrity and economic ability. He knows how to help encourage business growth and prosperity. I hear attacks on his integrity, with no fact to back it up. He has lived a pretty clean life and I have been watching for many years. He understands the economy and how to fix the mess we are in. I notice that a lot of people who blog would never hire a rich person…it is an automatic disqualification; they prefer an inexperienced person who has never even run a lemonade stand to fix this huge economy. According to the stats, we are now over 15 trillion in dept and borrowing over 10 million a day. Don’t they understand that when the well runs dry there will be no one to bail us out? Greece is just a small microcosm of what is in store for us. I checked the government’s own web site and found that Bush increased spending 3,478 trillion in 8 years. In Obama’s 4 years, spending increased a whopping 5.993 trillion and he did not have to contend with 911 or Katrina. The graph on the page shows it even more blatantly. We are still over 8 percent unemployed and that is probably inaccurate because so many people have quit looking and are not part of the record.

Businesses have done it repeatedly. It’s called making an investment in your future.

Posted by: dagmar | February 13, 2012, 5:51 pm 5:51 pm

Solyndra did it. So did Ener1. They both went bankrupt.

You can’t spend your way out of debt.

Posted by: Orion | February 13, 2012, 5:03 pm 5:03 pm

Businesses have done it repeatedly. It’s called making an investment in your future.

Posted by: dagmar | February 13, 2012, 5:51 pm 5:51 pm

It’s true, many businesses have found themselves in difficult economic straights, borrowed money and invested in their future and survived to great success.

I wonder what Jake Tapper would make of this? He’d probably be totally non committal so as not to anger the White House and lose his cushy job being their stenographer.

Dagmar 4:54 PM Since the 1933 Depression the economy has contracted over 10% twice (in the late 40′s and 50′s) Both of the contractions (double dip recession) in the 70′s were more severe than the economic contraction we experienced in 2008-09. Reference – File:GDP growth 1923-2009.jpg I did not ignore the effects of the recession on the economy… I just stated facts. Check your own history.

Posted by: try again—-I was being sarcastic I don’t expect the government to run like a business at all. Eventually that interest payment will eclipse tax revenues and it will be game over, and the people who pay income taxes are paying as much as they are willing to pay. Spending more money is just going to make that happen faster. Now by all means lets get it done, we are beyond fixing the problem, the only question now is when not if. All the people who have been promised stuff by the government will be getting nothing. Those who are not dependent on the government will be fine, those who are dependent on the government will not

Both of the contractions (double dip recession) in the 70′s were more severe than the economic contraction we experienced in 2008-09.

Posted by: ionagoal | February 13, 2012, 6:36 pm 6:36 pm

During the recession from November 1973 to March 1975 recession, the Gross Domestic Product of the United States never fell more than 5 percent. 1973-1975 Recession saw three consecutive quarters of negative GDP growth: 1974 Q3 -3.9% (-3.8%), Q4 -1.6% (-1.6%), 1975 Q1 -4.8%(-4.7%).

The 2008-2009 Recession was the worst recession since the Depression. The economy shrank in five quarters, including four quarters in a row. Two quarters shrank more than 5%, and Q2 2008 shrank a whopping 8.9%, more than any other recession since the Great Depression. The recession ended in Q3 2009, when GDP turned positive, due to President Obama’s economic stimulus spending.

The pro-Obama media claims Obama is powerless to change Bush policies such as Iraq/ Afghanistan wars and tax cuts. So, magically, they transfer all of the federal debt accumulated under Obama to Bush. Even the off-budget Afghanistan $33 billion surge is transferred to Bush!! You”ll see this even on whitehouse.gov website. Jon Corzine and accounting experts at MF Global are clearly advising Obama administration.

Posted by: ionagoal | February 13, 2012, 7:13 pm 7:13 pm

Never mind your reference numbers, just post the percentage decline in the GDP alongside each quarter as I did. It’s simple.

Now we have No Guts candidates and the broken promise President and finally the Republicans in Congress–Won’t any one standup and help us on the budget. No one will even try do something about the deficit and National Debt.

We are like the Roadrunner going off the cliff and suddenly there is nothing but air underneath before he falls into oblivion.

So you can’t provide a reference for your numbers. Are they made up, are they from the DNC? Surely you must have read them somewhere. If you can quote them so precisely where did you find them.

Posted by: ionagoal | February 13, 2012, 8:10 pm 8:10 pm

You haven’t produced ANY figures yet! Where do you get off? If you doubt my figures, prove them wrong. Start by posting some figures of your own.

10 to 1 in cuts. What fantasyland were you in when you heard that? The White House says $2.50 in cuts for every $1.50 in new revenues, but they count cuts already agreed too in previous agreements and most of that comes from the military.

Why is it so difficult to acknowledge the massive problem Obama inherited? Sure, his budget should be more balanced. I was expecting somewhere around $650B in deficits, not $900B. But this is how it is. And, frankly, to get any tax increase passed you need a willing Congress. Why should Obama go out on a limb and propose raising taxes for everyone or most of us if he knows the Congress will not go along? Come on. The GOP is not going to agree to any of this.

We need responsible Democrats in 2013 to run the Congress and the presidency. And they need to arrive with a mandate to balance the freaking budget in four years. It will be painful. But it is necessary.

You can’t blame Obama for any of that.

Posted by: ino moorethanu | February 13, 2012, 8:50 pm 8:50 pm

Obama was a US Senator before he was President. He voted for lots and lots of deficit spending. He voted for deficit spending has a State Senator too.

May I expand a bit my previous thoughts elsewhere that contained all that is within our current and recently past purview regarding these roundabout and raucously riling issues? Thanks. Let me expand on that a bit: the concentric metrics of Obama spasms in maledictory attempts at reconciling with wacky weirdsters from the left has resulted in the degenerate deconstruction of the maladies of misty mists afflicting his naughty attempts at radical reelection. He made a mistake, it can be ceremoniously cretinized and rectified by November, with luck and more jock-strap like support from sycophants everywhere. Surely and sanctimoniously, craven charts and gluttoneous graphs surreptitious stats can aid in the visual and experiential experiences of pontificatory propaganda on and surrounding our egregious attempts at marauding and marranging the moronical masses who no not knowingly know which dire direction to praise, plead, or stumblingly stumble, or even truculently trot. Heed my advice and info contained solidly and slippery within, or just be a clear dummy or a prancing poltroon.

This is great! I stop by after 6 or 7 months and here you all are. Still bashing each other over the head! You all are awesome! Keep it up, I’ll see you all again in 6 months!

Obama and his minions sure do lie a lot.

Not only did he lie when he “promised” to cut the defict by half by the end of his term, he lied when he said, “[a]nd we’ll do it in a new way: honestly and candidly.”

Absolutely incredible that his minion, Jack “I’m So Much Smarter Than You” Lew, went on Sunday talk shows this past weekend and said over and over that Republicans in the Senate have blocked passage of a budget. Lew must think that the voters out in the hinterlands are stupid or something.

The demwits control the Senate. They have a majority of the votes there. A budget can be passed without having to have 60 votes — just more than 50 — so that the demwits could have passed a budget anytime they want. The demwits have had full control of the Senate throughout Obama’s term as president — and the Senate hasn’t passed a budget in four years!!!

Yet Lew tells his whopper that a budget cannot be passed in the Senate because of so-called Republican “obstructionism” — and he pretends that demwits don’t control the Senate.

And he pretends further that the budget Obama sent to Congress last year was rejected in the Senate by a vote of 97 to nothing!!!! Not a single democrat cast a vote for Obama’s bogus budget.

Really, now, it’s obvious that Lew is trying to sell the lie that the Republicans are blocking a budget in Congress. Come on, now, Lew. Tell the truth for a change. Or keep living Obama’s lie.

Lew should go enter a competition for Biggest Whopper, although he’d lose because his whoppers are so outlandish.

But, but, but, BUSH!
But, but, but, those Republicans in the Senate will not pass a budget!
But, but, but, those ATMs are taking our jobs!
But, but, but, that tsunami in Japan!
But, but, but, I need to bribe my cronies!
But, but, but, I am the ONE!
But, but, but, the economy is improving!
But, but, but, the economy is worse than I was told by Krugman!
But, but, but, we need another stimulus to bribe more cronies and voters!
But, but, but, that is all I have!

“Cynic” and all liberals…There is a big difference between debt (currently almost $16 tril) and defecit (proposed ($1.4 tril). Yes, in this budget year, if you confiscated the “wealth” of the rich you could balance the budget THIS YEAR. If you take away the incentives to earn or produce guess what? No more production. You must have all failed Econ 101, laws of supply and demand etc. The govt can intervene in the market all it wants (ie mortgage fiasco), when it does you see the result. Blame Bush? Please…Frankly, I get tired of the arguing and I really don’t know why I bother. We have Greece staring us in the face and yet this county’s entitlement, everybody owes me mentality, has put us on the direct path to that scenario. Simple fact, there are not enough rich people paying taxes on their income (we don’t tax wealth lib idiots) to balance the budget or pay down the debt. You want to start confiscating wealth? Go ahead and good luck.

ROCKYCHANCE | FEBRUARY 14, 2012, 8:38 AM………Please don’t confront me with truth! And Greece’s entitlements are a smaller % of GDP than the US!

“[The economy] definitely shows some signs of revival,” Soros said. “Very important is the revival of shale gas and shale oil as a cheap source of energy which has made manufacturing more competitive [and] also the fact that you now had several years of no wage growth, so wage disparities have been reduced, and so all of this is bringing a very welcome relief.” So, why not make manufacturing even more competitive and create jobs by building the Keystone Pipeline?

I LOVE how it is the repubs fault because they control 1/3rd of Govt. Look, there are good Dems and good Repubs….. the bad news is, there are BAD ones too. So when a repub and Dem come together to produce a bill The democratic leader in the senate, harry whatever his name is, won’t let any of these bills come to a vote. Because if he does, The argument of obstructionist will be taken away for the 2012 election. The good news is Repubs will take over the senate I pray to GOD that when a Dem and a Repub produce a bill the new leadership will allow it to come up for a vote

If you know so much about finance and economics why are the people you argue with so much more successful and wealthier than you are?
———-
Not what you know, but who you know…

What? We’ll have another TRILLION dollar deficit in 2013? Well, let’s end the Bush Tax cuts for the evil rich people, they don’t pay their “fair share”. That will fix the problem!
What? ending the Bush Tax custs for the evil rich people will only reduce the TRILLION dollar 2013 deficit by $70 billion? Well, let’s double the Bush Tax cuts for the evil rich people! That will take care of the 2013 budget deficit!
What? Doubling the Bush Tax cut rate will only lower the 2013 deficit by $140 billion? That’s not even close to what we need to cover things. Well, let’s just take everything the evil rich people have, extract every last dollar they have for the common collective good. That will take care of the deficit!
What, that won’t cover the bill either? Wow, how are we going to pay for all this spending, then?
Hmmmm, what to do…….uh, hmmmmm……
It looks like we only have two choices. Either we borrow more money from the Chinese that our children’s children will have to pay back so we don’t have to make any tough choices, or maybe we should take a close look at HOW MUCH OUR GOVERNMENT IS SPENDING AND WHAT THEY ARE SPENDING IT ON AND CUT IT BACK!!!!!
That’s right America! It’s time to cut back before we become Greece. You can’t blame this on just the Democrats, or just the Republicans. The blame rests with both parties and our over-reaching and over-promising Federal Government. It’s time to get serious about cutting the over-all budget and start paying down the debt. The choices will be hard, but they will be harder and harder each year we wait. It only gets more painful the longer we put off actions.
Wake up America!

I have a lot of respect for Jake Tapper. He tells the truth, rather than try to slant reporting to please ABC’s mostly liberal audience.

“why not make manufacturing even more competitive and create jobs by building the Keystone Pipeline?”

Why? Because, it is in George Soros’ interest that we expand oil imports from Basil. He owns a large share in Petrobas Brasil. And then Good old Grandfatherly Warren Buffet tried to sell Obama on transporting Canadian oil to our gas refineries with his Railroad, rather than the Keystone Pipeline. Good Old Warren owes $1.2B in back taxes to the US Treasury. But, he and Obama have a deal that if Warren touts the “Buffet” rule of raising taxes in the rich, Obama will sweep Warren’s tax bill under the rug. Of course taxing the rich does not mean raising the capital gains tax which is how Warren only pay 15% on his personal income. He no longer earns income subject to personal income tax like us peons.

Get it people? Obama is selling the United States of America and our children out to his crony billionaire friends!!! Treason, People!! Get it? You dummmys!!!

Of course you too can join the crony freind of Obama club by donating a few $million to his campagne. Spare change for the crony billionaires. Or if you don’t have the money, just donate your children for slave labor by voting for him.

There is absolutely no excuse for this. The man has failed the country. He has failed this generation and generations to come. He can make excuses all day long…I know the progressives in my part of the world with being staying home in November. This nasty man thought he could play us. No sir. You will being going back to Chicago on a private plane come November for lying to the American people and selling us out to the banks and Wall Street.

Obama is selling the United States of America and our children out to his crony billionaire friends!!!
——————————–

Actually we’re counting on our buddy Mitt to really help us out.

Can all of Obama supporters, who blame the “obstructionist republican congress” , tell me what Obama passed in his first two years in office with a democratic house and senate that lowered the deficit…….oh that’s right there is NOTHING! All Dems can do is whine about Bush, how about accomplishing something, you had your chance and are making it worse. Dems have too many interest groups that they don’t want to offend……

The growing Deficit is a Big deal, it affects ALL Americans., in many different ways.

One thing that is so clear about this president is he’s “a tweaker”, Not a problem solver.

Our deficit is not only a threat to our national security, but its a Huge Burden on our children, who will have to deal with it in the future.

Obama’s made us look like Deadbeat Parents…

Journalists w/ integrity, I beg you to expose this bald-faced lying fraud Occupying WH for what he is. Do it for the good of your country. Do it for your professional honor and integrity. This man Occupying the highest office of this remarkable land is doing bigger damage, more damage, perhaps irreversible ruinous damage to the core essence and foundation of this country. This article is only the tip of the iceberg. We implore you to expose the rest of his perfidious designs and awaken Americans who have been so systematically divided and turned into partisan mad mobs focused on each other’s destruction instead of vigilance about what this charlatan is doing to their country. Wake your country up; do it before it is too late.

Obama will go down in the history as the president who ditched responsibility. The guy has no conscience. He’s consistently made promises that he knows are pie-in-the-sky, consistently blames others, and consistently pits Americans against one another. If he weren’t destroying the nation, he would be laughable.

“The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents –number 43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.”

Candidate Barack Obama, April, 2008