Obama Vs. Bush On Debt

Stallion

Stallion

Stud
Obama Vs. Bush On Debt

How do Bush and Obama compare on closer inspection? Just about like they do on an initial glance. According to the White House's Office of Management and Budget, during his eight fiscal years, Bush ran up a total of $3.283 trillion in deficit spending (p. 22). In his first two fiscal years, Obama will run up a total of $2.826 trillion in deficit spending ($1.294 trillion in 2010, an estimated $1.267 trillion in 2011 (p. 23), and the $265 billion in "stimulus" money that was spent in 2009). Thus, Bush ran up an average of $410 billion in deficit spending per year, while Obama is running up an average of $1.413 trillion in deficit spending per year — or $1.003 trillion a year more than Bush.

Obama, of course, has said the economy made him do it. But the average inflation-adjusted deficits through Obama's first two fiscal years will be more than ten times higher than the average inflation-adjusted deficit during the Great Depression. Even as a percentage of the gross domestic product, the average deficits in Obama's first two fiscal years will more than three times higher the average deficit during the Great Depression. The fact that Obama's deficits have, by any standard, more than tripled those of the Great Depression, cannot convincingly be blamed on the current recession.

http://www.npr.org/2011/01/25/133211508/the-weekly-standard-obama-vs-bush-on-debt

Another poster brought up this issue in another thread and I wanted to stay focused on the topic in that thread, so I answered his question in this thread. The link shows that we cannot blame Bush for everything. It is time the left takes responsibility for the actions of President Obama.
 
Stallion said:
Obama Vs. Bush On Debt
http://www.npr.org/2011/01/25/133211508/the-weekly-standard-obama-vs-bush-on-debt
The fact that Obama's deficits have, by any standard, more than tripled those of the Great Depression, cannot convincingly be blamed on the current recession.

The link shows that we cannot blame Bush for everything. It is time the left takes responsibility for the actions of President Obama.
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Dream on Sucka.....pinheads will continue to blame Bush and with collaboration from msm....convince the ignorant populous its true....
 
cawacko said:
The American people.
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Let's think a little more pragmatically and not so cynically... mmk?

I mean... what do YOU want us to do, cawako? Bash and trash Republicans, the only party who stands any chance of defeating the Marxist Socialists who've taken over the country? I fail to see what that will accomplish... yeah, I can bow up and just say that all politicians are bad, they all need to be thrown out of office.... but what the fuck do you suggest we replace them with, if not, more politicians?
 
Dixie said:
Let's think a little more pragmatically and not so cynically... mmk?

I mean... what do YOU want us to do, cawako? Bash and trash Republicans, the only party who stands any chance of defeating the Marxist Socialists who've taken over the country? I fail to see what that will accomplish... yeah, I can bow up and just say that all politicians are bad, they all need to be thrown out of office.... but what the fuck do you suggest we replace them with, if not, more politicians?
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It is called being honest Dixie, something Cawacko certainly deserves credit for, not to be talked down to by you.
 
Dixie said:
Let's think a little more pragmatically and not so cynically... mmk?

I mean... what do YOU want us to do, cawako? Bash and trash Republicans, the only party who stands any chance of defeating the Marxist Socialists who've taken over the country? I fail to see what that will accomplish... yeah, I can bow up and just say that all politicians are bad, they all need to be thrown out of office.... but what the fuck do you suggest we replace them with, if not, more politicians?
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I simply commented on the question of Bush vs. Obama. Please feel free to prove me wrong that they both don't suck when it comes to the national debt. I made no comment about what I think we should do going forward. I voted for Bush twice but that doesn't mean I can't call him out on parts of his job I believe he did poorly. If you think he is above reproach and should not be criticized then that's your opinion and one I do not share.
 
Damocles said:
People blame Bush, but they understand that without a BBA there will be no fiscal responsibility.

http://www.usnews.com/opinion/blogs/peter-roff/2011/07/21/poll-americans-support-cut-cap-and-balance

Basically, while they may think Bush is "more responsible" they don't think that this President or Congress are going to do anything at all to stop it.
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That's just simply not true Damo. For the vast majority of our history the public fiscus has been sound and the danger of a BBA is that it would tie the hands of government during a crises.
 
Mott the Hoople said:
That's just simply not true Damo. For the vast majority of our history the public fiscus has been sound and the danger of a BBA is that it would tie the hands of government during a crises.
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Total rubbish. First, not everybody agrees with you, clearly. Second, there are provisions in every BBA presented for crises.

There is only one way to reassure the S&P and Moody's that we will pay back the debt, and that is to force the government to be fiscally responsible during the "good times"...

1. Neither bill cuts enough for S&P or Moody's they've already said so. Only one might be passed in one house of Congress.
2. Only one plan ensures that there will be cuts enough in the future for Moody's and S&P to stave off a credit degradation...

That the Democrats staunchly refuse any limitation on overspending is astounding and it only underlines the fact that neither the republicans or the democrats can be trusted with our money. It's a shame that the debt crisis comes in the middle of a downturn, but it is inevitable, we either show we are going to pay or we will be downgraded.
 
It's a fucking loaded question and a strawman. How much of the spending during Obama's administration were due to the fucking total mess he inherited from Bush? How much did TARP cost us? How much did Bush's two fucked up foreign wars cost us? Were over extended in both Iraq and Afghanistan and it aint like you can just say "Fuck it" and pull out.

Bushonomics have devastated this nation. He fucking drove us into the ditch and ya'll fucking enabled him and didn't fucking say jack squat about the debt during the whole 8 disastrous years and now ya'll have the religion of deficit reduction?

Can you say "No Credibility"?
 
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BBAs have been proposed before. None have made it out of the gate.


A BBA would need to be ratified by the requisite number of states.


How many years would that take?


The American people need jobs, not pledges, posturing and symbolic House votes.


Stop holding the debt limit hostage and get on with the business of the people.
 
Damocles said:
Total rubbish. First, not everybody agrees with you, clearly. Second, there are provisions in every BBA presented for crises.

There is only one way to reassure the S&P and Moody's that we will pay back the debt, and that is to force the government to be fiscally responsible during the "good times"...

1. Neither bill cuts enough for S&P or Moody's they've already said so. Only one might be passed in one house of Congress.
2. Only one plan ensures that there will be cuts enough in the future for Moody's and S&P to stave off a credit degradation...

That the Democrats staunchly refuse any limitation on overspending is astounding and it only underlines the fact that neither the republicans or the democrats can be trusted with our money. It's a shame that the debt crisis comes in the middle of a downturn, but it is inevitable, we either show we are going to pay or we will be downgraded.
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You show me a BBA that isn't loaded up with gimmicks to kick money upstairs and tie our nations government during times of crises and I"ll vote for it. I've been a deficit hawk since 1990. Where were you guys 5 years ago when, to quote Dick Cheney "Deficits didnt' matter."?
 
\(\(\/)/)/ said:
BBAs have been proposed before. None have made it out of the gate.


A BBA would need to be ratified by the requisite number of states.


How many years would that take?


The American people need jobs, not pledges, posturing and symbolic House votes.


Stop holding the debt limit hostage and get on with the business of the people.
Click to expand...

I think the average time it takes an ammendment to pass through the states after it's been approved by congress is something like 15 years.
 
Mott the Hoople said:
You show me a BBA that isn't loaded up with gimmicks to kick money upstairs and tie our nations government during times of crises and I"ll vote for it. I've been a deficit hawk since 1990. Where were you guys 5 years ago when, to quote Dick Cheney "Deficits didnt' matter."?
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I was here, complaining about the deficit. Promoting a BBA.

Ever since you've seen me I've promoted a BBA. I've known that this government will never do the right thing fiscally without a Constitutional limitation and have supported a BBA since I could vote.
 
Mott the Hoople said:
I think the average time it takes an ammendment to pass through the states after it's been approved by congress is something like 15 years.
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That average is very high, mostly because of the last Amendment ratified that sat for about 200 years before it was ratified. It was one of 12 proposed, only 10 passed and were called the "bill of rights"...
 
\(\(\/)/)/ said:
BBAs have been proposed before. None have made it out of the gate.


A BBA would need to be ratified by the requisite number of states.


How many years would that take?


The American people need jobs, not pledges, posturing and symbolic House votes.


Stop holding the debt limit hostage and get on with the business of the people.
Click to expand...

In 1995 it lost by only one vote, only one.
 
cawacko said:
I simply commented on the question of Bush vs. Obama. Please feel free to prove me wrong that they both don't suck when it comes to the national debt. I made no comment about what I think we should do going forward. I voted for Bush twice but that doesn't mean I can't call him out on parts of his job I believe he did poorly. If you think he is above reproach and should not be criticized then that's your opinion and one I do not share.
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Yeah, I know... you just commented on the question... I see a lot of that kind of commentary lately... Oh well, they all suck, the American people are the losers... All politicians are crooked... All political parties blow chunks... Dems and Repubs are both stupid.... Well, what the fuck do you people want to do, declare martial law? Because the last time I checked, we have a two party system in America, and either the Democrats or Republicans control power in Washington. You can bitch and moan about it, you can lambaste both parties and all politicians, but what do you propose as a solution to rectify the problem, anarchy?

I just get sick of the fence-sitting moderates, acting like they are 'above it all' with their equal bashing of the D's and R's... as if that is some sort of intelligent answer to our problems! It's nothing but mindless drivel from people who can't think for themselves, and haven't thought about this past their own emotions. You gotta choice here... support the Marxist Socialist Democrat Party... or support whoever runs against them from the GOP. There is no other alternative, unless you want to NOT vote...or vote for some Libertarian no one has heard of... (same as giving a vote to the Marxist Socialists).
 
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