Chat Place Forum

spending habits?



Especially since BO is currently increasing the debt at least 3 times the pace?



We're already $292 billion in the red in just the first two months of the 2010 fiscal year. http://www.reuters.com/article/idUSN0418093920091204



Projected national deficit for 2010 is $1.5 TRILLION, even higher than 2009 ($1.42 trillion), which tripled the previous record deficit year (2008) of $459 billion. http://www.cbsnews.com/stories/2009/12/10/national/main5963445.shtml http://www.foxnews.com/politics/2009/12/13/senate-vote-trillion-spending/



The administration in August also projected that the 2011 deficit would be $1.12 trillion.



And what is all this spending doing for us? So far I see nothing good coming out of it. Only financial death spiral.



**For those with short-term memory problems, remember to answer the questions I ask first before you go off on a rant please, starting with "Why BO supporters selectively criticize one president doubling national debt (GW), but not BO for the same issue?" Thank you.



Also, for the disingenuous, please don't give me that "Congress is in charge of the budget" garbage. BO does have the power to veto the costly legislation. And any "it's ALL Bush's fault" responses will be ignored for it no longer holds water for anyone with a mind of their own. And please provide factual details to your responses, preferably with verifiable sources as I have done.



I asked this question just earlier but it was deleted. I will have it restored and the ones reporting me will lose influence as this question does not violate any community guidelines.

Con - So answer my other question please: And what is all this spending doing for us?

Because Obama is spending money on Americans while Bush spent it on Iraqis and ignored Americans

The idea is that you borrow and spend during recessions. This money is seen as an investment because if it succeeds in stimulating the economy it will come back many times in taxes.

This idea is credited to John Maynard Keynes, an economist that was very popular in the 1930s. Keynsian economics seem to work pretty well. It got us out of the Great Depression. Republicans were jealous.

The real problem is that Reagan and both Bushes spent like drunken sailors during GOOD times. Reagan said out loud, over and over, that his increases in spending would stimulate the economy enough to pay for themselves. Reagan doubled the entire pre-existing national debt in a single term, and well into his second term he was still insisting that his deficits and tax cuts would stimulate the economy enough to pay themselves back. Revenues did increase, but not even enough to pay the interest on the new debt. GW Bush doubled a much bigger debt, but it took him two terms. Clinton is the only budget-hawk president in recent decades.

For 30 years now Republicans have behaved as if deficits just didn't matter. Doesn't it seem hypocritical for them now to suddenly realize they matter?

Also BO is spending more now than he will a year or two from now, so those 'projected' figures are just some right-winger's fantasy.

Because OB is a left wing psycho and so is the bulk of the media so we see a great circle of stupidity and hypocrisy again.

I hate to break it to you but there are a lot of Obama supporters who are very concerned about the budget deficit and this country's fiscal situation overall.
Personally, I'm smart enough to see that there is no way for this country to get its fiscal house in order in the absence of default. Even though there are many people who will run for congress on a platform of ending irresponsible spending they will still be good representatives for their constituents and do all that they can to bring home as much pork for their district as possible.

Because one is flushed down the toilet and will never come back to us... (Bush with war)

and the other is spending on our own nation, which always comes back and then some (Obama investing in America)

Cons wouldn't understand

Because BO supporters only look at the person and not ideas. Just take a look a some of the dim wits answers and their attempts to answer your question. First, they will go to their grave supporting the "man" the "Democrat" Obummer. Next, they use Keynesian Economics as their example to support the reckless spending by Osama. Then they attack both Bush's and Reagan to top it off. Classic liberals. Contrary to belief, Keynesian Economics probably cause the Great Depression and this is where we are going. We are heading down the path of the 70's and Stagflation. History repeating itself. Here is a quote from one of the greatest minds in economics, Milton Friedman.
Friedman rejected the use of fiscal policy as a tool of demand management; and he held that the government's role in the guidance of the economy should be restricted severely. Friedman wrote extensively on the Great Depression, which he termed the Great Contraction, arguing that it had been caused by an ordinary financial shock whose duration and seriousness were greatly increased by the subsequent contraction of the money supply caused by the misguided policies of the directors of the Federal Reserve.

The Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 ... Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government.
?Milton Friedman, Two Lucky People, 233
You lib's are a one trick pony....you can only attack the person and that is your argument. You have no original ideas. In 2010 we will welcome back the Reagan Democrats and STOP the flow of tired, worn out policies of FDR. We are moving into the age of Globalism and Keynesian Economics is not our saving grace. It will be the nail in the coffin.