Deficit likely to hit $1.8 trillion in 2009.
By on Mar 20th, 2009 at 1:20 pm
Deficit likely to hit $1.8 trillion in 2009.
Later today, the Congressional Budget Office (CBO) will be releasing a report projecting the federal deficit. According to aides on Capitol Hill, it will likely reach $1.8 trillion this year, and fall to $1.4 trillion in 2010. The CBO’s previous estimate had the deficit hitting $1.2 trillion. Watch an MSNBC report on the numbers:
As Washington Post columnist Steven Pearlstein pointed out, the numbers confirm that “the recession is worse than they thought when they did these things last time,” and thus it is “more urgent…for us to spend more money to stimulate the economy.”
Update Yglesias has a download from Orszag's conference call today.
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Great. Now we’ll hear more calls for cutting taxes and stopping govt spending to make conservatives in the GOP, blue dogs & the press happy so that we can extend this cycle across the bottom.
March 20th, 2009 at 1:29 pmThis figure is an estimate of the “total budget” deficit. The “on budget” deficit, excluding the Social Security surplus, which is called, “off budget,” is even bigger.
March 20th, 2009 at 1:30 pmPerhaps. But not likely.
Were you upset when President Bush ran it up this high?
March 20th, 2009 at 1:30 pmBecky: Obama INHERITED this recession/depression FROM CHIMPY.
Chimpy- the gift that keeps on giving.
March 20th, 2009 at 1:31 pmLook like when Rebecca said “Later” and abandoned the first Obama- Iran video thread, she was merely marshaling her forces to launch assaults on other hills.
March 20th, 2009 at 1:33 pmWe are now living THE GREAT BUSH DEPRESSION .
March 20th, 2009 at 1:34 pmWatch for those “Bushville Tent Cities” to start sprouting around the country.
Want to hear a funny joke?
Reaganomics was supposed to pay off the deficit.
March 20th, 2009 at 1:35 pmUncle Ho Says:
Becky: Obama INHERITED this recession/depression FROM CHIMPY.
Chimpy- the gift that keeps on giving.
Obama inherited NOTHING. He paid hundreds of millions to get the job. One can’t help but wonder what would happen if President Obama would be referred to as “chimpy”
March 20th, 2009 at 1:46 pmCaptain Brodad Unkabuddy Says:
Obama inherited NOTHING.
So did the Bush Depression magically disappear after Obama became President of the USA? No, it didn’t. Ergo, he inherited it from Bush. QED.
March 20th, 2009 at 1:48 pmAs Washington Post columnist Steven Pearlstein pointed out, the numbers confirm that “the recession is worse than they thought when they did these things last time,” and thus it is “more urgent…for us to spend more money to stimulate the economy.”
You’ve got to be kidding me !!!!
March 20th, 2009 at 1:48 pmSeems like you’re probably a pretty easy mark when it comes to “kidding”.
March 20th, 2009 at 1:50 pmLuis M Says:
So did the Bush Depression magically disappear after Obama became President of the USA? No, it didn’t. Ergo, he inherited it from Bush. QED.
Did you hear Bush whine when he inherited the Clinton recession and dot.com bust? Nope. He fixed it – with tax cuts. Ergo, 6 years of economic GROWTH.
March 20th, 2009 at 1:52 pmTime to pump up the lithium levels in the water supply…
March 20th, 2009 at 1:52 pmBut… but… Darth Cheney famously said, “Deficits don’t matter.” So are our critics repudiating their fearless leader now?
March 20th, 2009 at 1:53 pmHazamat crew aisle 9, troll cleanup needed.
March 20th, 2009 at 1:53 pmCrappy, take your head out of your ass.
Chimpy inherited a budget SURPLUS, then quickly proceeded to destroy that with his tax cuts aimed at his filthy rich benefactors.
March 20th, 2009 at 1:55 pmBy the quality of your posts, it looks like you’ve been kidding yourself.
March 20th, 2009 at 1:56 pm.
Q U E S T I O N:
If had to spend my last $10.00 to put gas into my tank so that I could commute the 30 miles to work, who would advocate me saving the $10.00 so that I could buy lunch instead?
How about spending the $10.00, fill the tank, get to work and earn the needed money to buy lunch for next week?
.
March 20th, 2009 at 1:56 pmhttp://money.cnn.com/2002/08/07/news/economy/bush_cheney/
March 20th, 2009 at 1:56 pmBecky & Crappy; New names for Beavis & Butthead
March 20th, 2009 at 1:57 pmDid you hear Bush whine when he inherited the Clinton recession and dot.com bust?
Yeah- I did.
He fixed it???
Like, are you an economist? Doesn’s sound like it… Bush cut taxes for the rich, cut rates for borrowing, increased deficit spending… basically he put his foot on the gas and blew up the economy! See credit crisis, housing crisis, job crisis, etc… YEAH!
March 20th, 2009 at 1:57 pmYeah. He ‘fixed’ it allright.
March 20th, 2009 at 1:57 pmCaptain Brodad Unkabuddy,
March 20th, 2009 at 1:57 pmObama also inherited TWO wars AND a White House!
My, my, Rebecca! You certainly have an unorthodox way of interpreting others’ comments so they fall in line with your own preferred narrative.
That must come in handy when so much of Reality pushes against it.
March 20th, 2009 at 1:57 pmMaybe it is time for Obama to stop our illegal criminal hostile military occupations of Afghanistan and Iraq. That action would save us some money.
March 20th, 2009 at 1:58 pmkrystalviews Says:
We are now living THE GREAT BUSH DEPRESSION .
Watch for those “Bushville Tent Cities” to start sprouting around the country.
Some good names for those cities would be DODDville and FRANKtown. CARTERburg and CLINTONton. Whose idea was the subprime mortgage industry in the first place?
March 20th, 2009 at 1:58 pmRebecca Lobo Says:
Giving up so soon? Backed in a corner?
March 20th, 2009 at 1:56 pm
Boo hoo, now I’ll be crying for days.
March 20th, 2009 at 1:58 pmUnkabuddy,
That’s some of the stupidist shi* I’ve read in a long time. Maybe you need to find another site to post on.
March 20th, 2009 at 1:59 pmCaptain Brodad Unkabuddy Says:
Did you hear Bush whine when he inherited the Clinton recession and dot.com bust? Nope. He fixed it – with tax cuts. Ergo, 6 years of economic GROWTH.
So you admit Obama also inherited a recession / depression, just like Bush did? Hopefully Obama will also fix Bush’s Depression.
March 20th, 2009 at 2:00 pmRebecca Lobo Says:Giving up so soon? Backed in a corner?
Rebecca Lobo Said earlier:
I’ve seen no rebuttal. That must be how it works. Later!
(muted trumpet plays:)
March 20th, 2009 at 2:01 pmWah wah wah…
Unkabuddy – really, think about it, the name just gives me the creeps. Uncle? Buddy? What exactly?
He’s just like JK with the BOLD.
March 20th, 2009 at 2:01 pmAll that “growth” was in the financial services industry, which has vaporized in the past year. Bush’s economy was a house of cards that generated to the most anemic economic “growth” since the end of WWII
March 20th, 2009 at 2:02 pmRebecca Lobo Says:
Zooey Says:
Time to pump up the lithium levels in the water supply…
Giving up so soon? Backed in a corner?
I wouldn’t call it “backed in a corner” unless she had no one on her side.
March 20th, 2009 at 2:02 pmhttp://www.npr.org/templates/story/story.php?storyId=9085408
Basically, Cap’n, subprime loans were seen by mainstream lending institutions as ripe territory to expand their businesses, when rising home prices and diluted risk pools seemed to make them less dangerous than they had appeared previously.
Your lame attempts to blame Chris Dodd and Barney Frank expose you as an uninformed partisan simply seeking to blame bad stuff on Democrats, rather than educating yourself to discover the true sources of problems.
March 20th, 2009 at 2:03 pmRebecca Lobo Says:
The Obama White House is beyond repair…..
March 20th, 2009 at 2:01 pm
Please explain.
Don’t be frightened…
March 20th, 2009 at 2:04 pmIt was also all built on expanding debt, rather than expanding production.
March 20th, 2009 at 2:05 pmBush didn’t inherit a recession, don’t let the reich get by with that talking point.
Two recessions started ON Bush’s watch.
¶ AIO
March 20th, 2009 at 2:06 pmbasically he put his foot on the gas and blew up the economy!
Now there’s some economic expertise. We’re in the mess we’re in because of the collapse of the mortgage, real estate, and banking industry. Why did that happen? It happened because the banking and mortgage industries were forced to accept the whole subprime concept by the Democrats starting with Carter, and expanded under Clinton. Bush made an attempt to curb it, but it was half-assed. Clinton could have been in his 4th term in the fall of 2008 and the collapse would have still happened. You better believe Dodd and Frank had a BIG part in the lack of regulation in these industries.
March 20th, 2009 at 2:06 pm… or he could act like an adult and stop them when circumstances deem it appropriate.
Your credibility having taken a few hits so far today, you’ll forgive us if we don’t take pronouncements like this too seriously.
March 20th, 2009 at 2:07 pmSince Bush never included the cost of the war(s) in his budget it’s not accurate to say how much the budgets increased. I don’t know what the amount is (for the wars) but it’s astronomical. So add that to whatever Bush passed and theres your accurate amount.
Then deduct the cost of the war(s) from Obama’s budget and that would give a fair appraisal of how much Obama’s budget really is.
You stupid right wing dumber than shi* trolls should go somewhere where financial slight of hand is appreciated. It’s not appreciated here and it’s appreciated by most Americans. If you really admire deceptive accounting practices why don’t you get a job on wall street?
March 20th, 2009 at 2:08 pmHe fixed it, yeah.
“President Bush has presided over the weakest eight-year span for the U.S. economy in decades, according to an analysis of key data, and economists across the ideological spectrum increasingly view his two terms as a time of little progress on the nation’s thorniest fiscal challenges.”
March 20th, 2009 at 2:08 pmbut since neither unkabuthole and refreaka are interested in facts this will also fly over their heads.
March 20th, 2009 at 2:09 pmCreepy Uncle Buddy, #41
Now I have to correct myself (#30), now that is the stupidest fuc*ing thing I’ve seen posted in just about forever.
March 20th, 2009 at 2:10 pmYou are so wildly ill-informed that it makes you look ridiculous.
Do you remember commercials on cable TV for loans “with no money down! No credit history! We won’t even verify your income!”
No one was forcing those mortgage companies to lend to anyone. They were chasing those customers.
This is why Republicans are utterly incapable of solving complex problems in government. They are only interested in the parts of Reality that conform to their biases. If Reality doesn’t conform, they reject it and make up the rest.
March 20th, 2009 at 2:10 pmRebecca Lobo Says:….
– - If the real Rebecca Lobo ever gets in your face, I suggest you try and outrun her. Good luck with that.
March 20th, 2009 at 2:11 pmDearest Rebecca,
It’s seems my poor fingers can’t keep up with my thoughts when it’s been polluted with such bullshi* in such a short time. I guess I’ll have to check my posts a little better to make you happy. O.K?
March 20th, 2009 at 2:12 pmalphainfinityomega Says:
March 20th, 2009 at 2:12 pmBush didn’t inherit a recession, don’t let the reich get by with that talking point.
Two recessions started ON Bush’s watch.
Puh-leeze. Let’s not let the facts get in the way, shall we? When did the dot.com bust happen? If Bush didn’t inherit a recession, then neither did Obama.
Even if Zooey had no one on her side, refreaka still couldn’t win in a battle of wits.
March 20th, 2009 at 2:13 pmWe’re in the mess we’re in because of the collapse of the mortgage, real estate, and banking industry. Why did that happen?
A good question… and one we answered the other day in the AIG thread…
Let me help you again.
Basically heavy foreign investment (see China, Iceland, Ireland, etc.) spurred demand for more mortgage backed securities- a previously ’safe’ investment with a better return than Government Bonds combined with decreased Government regulation of the newly created ‘financial services industry’ that combined elements of Banks, Investment Firms and Insurance Companies (see Gramm-Leach-Bliley Act) and spurred over-building and over-valuation of real estate until the bubble inevetiably burst.
Poor people didn’t do this… they were victims of it.
They don’t get to keep there homes, do they?
March 20th, 2009 at 2:13 pmAnd I’d like to add that the 2009 deficit is what passed under Bush. Legislated under Bush. Bargained under Bush.
Also that Pres. Obama has taken the “off the books” debt (such as Iraq) and changed it to clearly part of the debt. This was guaranteed to make President Obama look bad. But it was the honest thing to do. (Is Obama the Anti-Bush ?)
March 20th, 2009 at 2:15 pmOh… the… irony…
March 20th, 2009 at 2:15 pmRebecca, the U.S. will have a 3 trillion dollar surplus by election day 2012.
March 20th, 2009 at 2:15 pmI must confess I’m disappointed in our friend Rebecca. I thought maybe she could provide some interesting debate.
Unfortunately, she seems capable of nothing more than garden-variety trolling.
March 20th, 2009 at 2:16 pmThat seems to be your motto, yes. We recognize it from your performance. OK?
March 20th, 2009 at 2:27 pmralph the wonder llama Says:
Do you remember commercials on cable TV for loans “with no money down! No credit history! We won’t even verify your income!”
Do you remember Janet Reno and her “redlining” threats to the mortgage industry? You’re right. Once Fannie Mae and Freddie Mac starting buying up all these mortgages with no restrictions (thank you Democrats) EVERYONE was jumping on the band wagon. And rightfully so – at the time.
March 20th, 2009 at 2:29 pmRebecca Lobo Says:
Selective response? Ok, I’ll play. It won’t be good at all when Tim G. is forced to step down due to incompetence.
March 20th, 2009 at 2:09 pm
Nice try…
March 20th, 2009 at 2:35 pmRef #39 It must have been due to all that hiring in “financials” that caused the unemployment levels to hit the lowest percentages in the last 50 years, don’t you think?
March 20th, 2009 at 2:36 pmCreepy Unkabuddy — you are, again, wildly misinformed and you would do well to actually research the issue.
I’ve read a considerable amount of literature with no discernible bias, and none of it even mention the factors you cite — Janet Reno and Fannie and Freddie — such as this one:
http://www.wikinvest.com/concept/Subprime_lending
if you have some similar resource that makes your case convincingly, I’m willing to look at it.
March 20th, 2009 at 2:36 pmEeeewwweeee! ukabuka (or whatever ) smells just like stinkstinkstink
March 20th, 2009 at 2:39 pmPhew! What a stench!
America’s biggest deficit by far is Republican’ts intelligence.
March 20th, 2009 at 2:42 pmHey, Republics, trying to squeeze 10 lbs of shit into a 5 lb bag not only makes you look ignorant, it smells, too.
Here’s a trick. Run the deficit to unbelievable heights (3XBush deficit). Then brag you’re going to cut it half by the end of your term. Where does that leave the deficit even if you’re able to cut it half? At unbelievable heights. Good one Obama.
March 20th, 2009 at 2:42 pmAnother absolute falsehood.
Unemployment levels under Bush never came close to the lowest points they reached in the later years of the Clinton administration.
In December 1999, the unemployment rate hit 4.0% and for the entire following year, the last under Bill Clinton, the unemployment rate never rose above 4.1%,, with four of those months seeing unemployment rates below 4%.
Bush took over in january with the rate at 4.2% and it rose steadily from then on. The lowest it would reach in the next eight years was 4.6% in 2006, but for most of the Bush years, it was above five or six percent.
March 20th, 2009 at 2:43 pmOkay. I get the idea that spending more money can stimulate the economy.
Just asking the question. Is there a point that the economy can be stimulated as much as it can be?
Kind of a law of diminishing returns.
Is there a point where people have bought whatever it is they are going to buy (homes, cars, t.v.’s cell phones, home remodels, etc) and they just don’t need to buy anything for a while?
Is it possible that at those points, the attempts at stimulation become less effective or at least more difficult? And the answer is merely that time needs to expire before replacement of goods becomes necessary. And the economy grows again?
Is economic activity tied to demand?
March 20th, 2009 at 2:45 pmOne thing you don’t seem to understand: this $1.8 trillion IS a Bush deficit. The govenrment is operating under a Bush administration budget.
Don’t blame Obama.
Now, if Obama had been handed a surplus, then you’d have some room to complain.
March 20th, 2009 at 2:46 pmWe all appreciate your concern, b-cup.
March 20th, 2009 at 2:47 pmI’m afraid bush’s depression won’t be healed anytime soon, it in fact will be getting worse.
March 20th, 2009 at 2:49 pmThey’re about to start investigating him and his uncle dick’s policies on torture.
No amount of booze, coke or xanax will be pulling him out of this one.
Interesting question, b-cup. It brings up the notion of “Demand-Side economics”, which is, of course, the opposite of “Supply Side”.
In other words, Keynesian economics.
March 20th, 2009 at 2:58 pmRebecca Lobo Says:
Unfortunately, she seems capable of nothing more than garden-variety trolling.
Don’t let any facts get in your way, ok?
That won’t be a problem since you haven’t posted one fact. All you have posted is RNC talking points and your personal opinion, said personal opinions indicating that your IQ is probably in the room temperature range.
March 20th, 2009 at 3:00 pmBoy, is it me or is this new crop of trolls particularly stupid? They aren’t even any fun to play with.
March 20th, 2009 at 3:03 pmDeficit likely to hit $1.8 trillion in 2009.
March 20th, 2009 at 3:03 pmThanks to the Industrial Congressional Military Complex, its endless and illegal wars, expensive toys, arrogant military bases, secret prison and so forth!
Ref #s 37,43,49,55,65,66,67
March 20th, 2009 at 3:04 pmI actually thought I could have some polite, informative and meaniful debate on this site. Thought it might be nice to hear and confront “other” opinions in a respectful way. The language and attitude I’ve experienced here is atrocious. You people are scary. Check out the following article from the NYT (your Bible) and I’ll rest my case. AMF.
http://www.nytimes.com/1993/08/13/business/nader-group-cites-redlinin-in-study-of-lenders.html
crappy; in order to have polite debate, you must first bring some smarts to the table- which you obviously lack.
as for informative, you definitely need to pull your head out of your ass.
March 20th, 2009 at 3:07 pmralph. I’m not interested in defending supply side. I interested in exploring this idea.
Is our economic situation caused in part by our relative demand decreasing?
President Obama mentioned something that ties in last night on Leno:
Now, obviously we can stimulate the economy and offer cheap loans that could induce people to buy things. But, isn’t part of the equation that people also have to have a need or a want to create that demand?
People are probably not buying cars right now because they are scared, or because they can’t get a loan. But, part of the reason they aren’t buying a car is that they already have a couple of decent cars.
Over time, those cars will age and need to be replaced. Those necessary replacements will create demand for new cars. Actual demand irrespective of stimulus.
March 20th, 2009 at 3:07 pmAnd Cappy plays the Victim card!
Excellent play. No one saw that coming.
March 20th, 2009 at 3:11 pmplays the victim card AND offers a link to a “page not found” to buttress his case.
Double play!
March 20th, 2009 at 3:12 pmSince that is your mission, your fervent hope will never be realized.
March 20th, 2009 at 3:14 pmThanks for trying to catapult your propaganda anyway.
Really? Here’s the “respectful way” our friend offered his opinion to start off this thread:
How could we have missed the respectful manner of confronting “other” opinions in that?
Of course, the respect is practically OOOZIng out of this post from our friend:
And this one? Fuggeddaboutit:
Sorry, Cap. If you want to claim a lack of respect, you’ve got to show some first before you claim victim status.
March 20th, 2009 at 3:18 pmRebecca Lobo Says:
He could stop the wars any time he likes.
But that wouldn’t stop your whining, which runs 24/7 in the party of NO. The adults are running the show, I don’t want children back in the WH.
The Obama White House is beyond repair…..
You should take up face-sitting. May be highly therapeutic in your case.
March 20th, 2009 at 3:29 pmMaybe I should post this question on every troll-infested thread –
GOPers, after eight years of horrific mismanagement and rabid emphasis on the military industrial complex, what qualifies you to be the audit function of the well-tuned democratic party?
March 20th, 2009 at 3:32 pmThis is scary. When the previous CBO number came out forecasting a $1.2 trillion deficit I said that it would be half again as much or $1.8 trillion. That estimate still seems pretty much right at $1.8 trillion. Could this mark a change where the government attempts honest reporting? We’ll see over time.
March 20th, 2009 at 3:32 pmIs our economic situation caused in part by our relative demand decreasing?
Yes! It is.
March 20th, 2009 at 3:32 pmThat’s why the GOVERNMENT has to spend on things like INFRASTRUCTURE… you see it doesn’t really matter what we spend on, spending drives the economy no matter what is purchased so it makes sense that since the government has to do all this spending they spend on big projects that need doing… like building rail lines, schools and a new fleet of hybrid cars… you know, all those ‘wasteful’ earmarks the Republicans are complaining about…
Unfortunate, but not entirely surprising. The recession is worse than we thought, but that still doesn’t mean we should alter our trajectory overall; government spending is what’s going to dig us out of this mess, not tax cuts.
Hopefully we can turn this economy around and actually focus on solving the deeper, systemic issues for why we’re in this situation. Obviously bad banking’s a good place to start, but there are other issues, like global poverty, that have huge economic and geopolitical ramifications.
The Borgen Project (www.borgenproject.org) has some interesting insight into addressing the issues of global poverty, something we can remedy easily and sustainably.
Some interesting figures to ponder:
March 20th, 2009 at 3:49 pm$30 billion USD: The annual shortfall to end global poverty.
$550 billion USD: The annual US defense budget.
Infrastructure isn’t just busy work either. Remember the levees in New Orleans and the bridge in Minnesota(?)? The Bush administration ran up big bills paying Halliburton to cheat our soldiers, and such, while neglecting our infrastructure. We need to repair our cities and utility structures before we have more disasters than we could ever afford to fix.
March 20th, 2009 at 3:58 pmI actually thought I could have some polite, informative and meaniful debate on this site. Thought it might be nice to hear and confront “other” opinions in a respectful way. The language and attitude I’ve experienced here is atrocious. You people are scary. Check out the following article from the NYT (your Bible) and I’ll rest my case. AMF.
March 20th, 2009 at 4:12 pm—
I like the part where you talk about polite informed dialogue and then follow up with the NY Times (your bible ) part. Hilarious. See this is why you get treated the way you do. So would you like to try again and try to stick with the polite and informed part. After you master that I will be happy to debate you. See I have the polite and informed part already undercontrol
Rebecca and Uncle, guess you didn’t know bush had a surplus in Texas and left us in a deficit, which we are just now digging out of. We had more pollution and insurance corruption under his “Governorship” than any previous Governor. But oh his friends survived very well.
Deregulation was added in Dec 2000 by Mccain’s friend Phil Gramm, States that opposed it, Georgia and New York were trampled. There was no growth, only a house of cards to make the public forget about the the 4200 men and women sent to die for oil greed of bush/cheney friends.
How about the lack of armament for the humvees after bush said he would not send our men and women in without the BEST equipment. The no bid contracts that allowed 19 men be electrocuted while showering from KBR’s work.
And since money is your kind of God, what about the $9 Billion UNACCOUNTED FOR left in Iraq.
When Obama and Geithner have to testify what they knew when, I want bush/cheney under oath without holding hands testifying what they knew when 2500 people died.
The audacity of you two trying to whitewash the stink of the last 8 years is appalling !
March 20th, 2009 at 4:23 pmbelac. you’re point about infrastructure is good.
If demand is weak from consumers, it does make sense, that if we need to spend, we spend on deferred maintenance. Infrastructure.
Your point makes sense to me. Is that where our stimulus money is going?
March 20th, 2009 at 4:25 pmLook it up and decide for yourself?
March 20th, 2009 at 4:28 pmtexaslady:
March 20th, 2009 at 5:09 pmI hope I’m not the Uncle you are referring to.
I’ve posted here for years and have never tried to whitewash anything chimpy has done.
Indeed, I’ve stated on numerous occassions that he should be hung-after his conviction for his war crimes.
Uncle Ho- I think texaslady was talking to the Capt. Brodad Unkabuddy…
March 20th, 2009 at 5:13 pmHave no fear, Ho. She was referring to Captain Brodad Unkabuddy, who came online trashing folks and spewing right-wing talking points and then when he got the same kind of treatment in return, complained, “I actually thought I could have some polite, informative and meaniful debate on this site. Thought it might be nice to hear and confront “other” opinions in a respectful way.”
You know, standard troll victim methodology.
March 20th, 2009 at 5:14 pmChill.. Uncle Ho I was referring to unkabuddy whatever person.
I get sick of these rush listeners who would deny the travesty of the last 8, yes 8 because repubs were in charge two years of Clinton’s time. They signed away our rights, our environment and most of all our young people who died for lies. Not to mention the thousands left with damage from bush/cheney’s war.
You know you can love your party but admit it went totally amok.
March 20th, 2009 at 5:24 pmYou know what? This is a non story.
Anyone who’s been watching the news and owns a calculator knows this.
The President’s said how much he’s spending. We saw the figures already. And we knew we were borrowing most of it. So there’s no story here.
March 20th, 2009 at 6:45 pmthe deficit coming from mr bush presidency, we should take all his money.
March 20th, 2009 at 8:29 pmwags.
Are you the wags?
http://www.youtube.com/watch?v=Kvgu9Avo5Zc
March 20th, 2009 at 8:54 pmThe debt will have to get worse before it gets better.
Read this from one of the few economists who understood and spoke out about the impending doom left in the wake of decades of deregulation AND points out the necessity of using American taxpayer dollars to place American taxpayers back to work AND who points out what FDR did right and wrong.
http://www.rollingstone.com/politics/story/25456948/what_obama_must_do
We must also realize that much of the cost of iraqnam war has not been paid for yet, nor were those numbers ever included in lilaWol’s budgets. Hundreds of thousands of returning vets needing medical and psychological and educational help, etc.
Funny, I din’t hear any msm outrage over the last regime BORROWING billions and DOUBLING the debt while they were in office, eh?
March 21st, 2009 at 9:05 amLOL