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For U.S, a sea of red ink, years in the making
Business cycle, Bush policies linked to most of federal government's deficits:

Mr. Obama’s main contribution to the deficit is his extension of several Bush policies, like the Iraq war and tax cuts for households making less than $250,000. Such policies — together with the Wall Street bailout, which was signed by Mr. Bush and supported by Mr. Obama — account for 20 percent of the swing.

About 7 percent comes from the stimulus bill that Mr. Obama signed in February. And only 3 percent comes from Mr. Obama’s agenda on health care, education, energy and other areas.

If the analysis is extended further into the future, well beyond 2012, the Obama agenda accounts for only a slightly higher share of the projected deficits.

How can that be? Some of his proposals, like a plan to put a price on carbon emissions, don’t cost the government any money. Others would be partly offset by proposed tax increases on the affluent and spending cuts. Congressional and White House aides agree that no large new programs, like an expansion of health insurance, are likely to pass unless they are paid for.

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The lions share of the Federal Deficit is the Iraq and Afghanistan Wars. The Afghanistan invasion was a necessary evil. The Iraq War? Maybe not "necessary", but whats done is done.
This is one of the best explanations of Obama Economics I have read lately, see if it makes sense to you......

It is the month of August, on the shores of the Black Sea . It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit.



Suddenly, a rich tourist comes to town.



He enters the only hotel, lays a 100 Euro note on the reception counter, and goes to inspect the rooms upstairs in order to pick one.



The hotel proprietor takes the 100 Euro note and runs to pay his debt to the butcher.

The Butcher takes the 100 Euro note, and runs to pay his debt to the pig grower.

The pig grower takes the 100 Euro note, and runs to pay his debt to the supplier of his feed and fuel.

The supplier of feed and fuel takes the 100 Euro note and runs to pay his debt to the town's prostitute that in these hard times, gave her "services" on credit.

The hooker runs to the hotel, and pays off her debt with the 100 Euro note to the hotel proprietor to pay for the rooms that she rented when she brought her clients there.

The hotel proprietor then lays the 100 Euro note back on the counter so that the rich tourist will not suspect anything.

At that moment, the rich tourist comes down after inspecting the rooms, and takes his 100 Euro note, after saying that he did not like any of the rooms, and leaves town.

No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism..

And that, ladies and gentlemen, is how the United States Government is doing business today.
quote:
Originally posted by Sassy Kims:
National debt hits record $11 trillion

He could just say no, and stop the blood letting. Instead, more arteries and veins are opened every day.

BTW, I though old BHO was gonna put an end to that troublesome Iraqi war as soon as he got in office? How's that working out?


I think its a sign of responsible management that President Obama is dealing with both Iraq and Afghanistan the way he is. I never said I wanted an immediate pullout from either place and Obama did not pledge that troops would be brought home in 4 months.

The lion's share of the deficits come from wars. How do you execute TWO wars without paying for them?
quote:
Originally posted by meanasasnake:
quote:
Originally posted by Sassy Kims:
National debt hits record $11 trillion

He could just say no, and stop the blood letting. Instead, more arteries and veins are opened every day.

BTW, I though old BHO was gonna put an end to that troublesome Iraqi war as soon as he got in office? How's that working out?


I think its a sign of responsible management that President Obama is dealing with both Iraq and Afghanistan the way he is. I never said I wanted an immediate pullout from either place and Obama did not pledge that troops would be brought home in 4 months.

The lion's share of the deficits come from wars. How do you execute TWO wars without paying for them?


Lion's share indicates the largest portion. Health & Human services spends more that Defense. Treasury spends almost as much, primarily on interest on debt.

Just say no, and stop the spending. Period. If you don't have it in the bank, don't spend it.
I love these numbers from the Bureau of Labor Statistics:

Predicted unemployment without the stimulus: 13,492,000
Predicted unemployment with the stimulus: 12,251,000
Actual unemployment with the stimulus: 14,511,000

It seems to me like the increase in debt brought on by the stimulus has made things worse. Maybe that's just me. This could simply be a case of Obama helping the working man.
If he wanted to say "pay as you go" then Day 1 in office, he should have said, if we don't have the cash money to do it -- we have to find it or we can't do it. That is how you pay as you go. You don't push policies and continue policies that put you further in debt. You can't put healthcare in place that you can't pay for. You can't put housing plans in place that you can't pay for...at some point, the government needs to do like GM and the rest of them and say "Hey, we screwed up and we can't pay for it so we will have to stop it all including our salaries until we get back to positive numbers." But no politician is going to do that -- they demanded the banks and others that benefited from the bailout do it but they would never hold themselves to that standard.

Obama has failed with his push for an economic plan that was never going to work to start with -- so now that he sees his numbers falling he's trying to BS his way out of his own mess.
quote:
Originally posted by DixieChik:
You still have debt to pay back as well...you can't charge up on the credit card and then decide from today forward I'm going to pay as I go -- you can, but you still have to pay back that debt you owe...I'm beginning to think he really is just a puppet and has no clue...


If you look very very close the next time Obama gives a speech, you may even catch a glimpse of the puppeteer's arm going up his backside to make his lips move. Of Course it takes several hours for the hand to reach his head because after entering the backside opening it has to move all the Obomanites that has their heads stuck so far up.....

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