Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#1336205 - 02/02/10 10:36 PM Two President's in One
straw Offline
Power Poster
straw
Joined: Nov 2002
Posts: 9,121
Why Obama Got a Dog Instead of a Cat

"The plan I'm announcing tonight would meet three basic goals. It will provide more security and stability to those who have health insurance. It will provide insurance for those who don't. And it will slow the growth of health care costs for our families, our businesses, and our government. . . . Now, add it all up, and the plan I'm proposing will cost around $900 billion over 10 years. . . . Most of these costs will be paid for with money already being spent--but spent badly--in the existing health-care system. The plan will not add to our deficit. The middle class will realize greater security, not higher taxes. And if we are able to slow the growth of health care costs by just one-tenth of 1% each year--one-tenth of 1 %--it will actually reduce the deficit by $4 trillion over the long term."--President Obama, address to a joint session of Congress, Sept. 9
"I mean, the easiest thing for me to do on the health-care debate would have been to tell people that 'what you're going to get is guaranteed health insurance, lower your costs, all the insurance reforms, we're going to lower the cost of Medicare and Medicaid, and it won't cost anybody anything.; That's great politics. It's just not true. So there's got to be some test of realism in any of these proposals, mine included. I've got to hold myself accountable."--President Obama at the GOP House Issues Conference, Jan. 29

WSJ columnist James Taranto

Return to Top
Chat! - BOL Watercooler
#1336251 - 02/02/10 11:46 PM Re: Two President's in One straw
Pale Rider Offline
10K Club
Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
I laughed until I cried.....literally

our children are so much toast....

our parents expected we would be better off then they were...

and that is the way it should be, increasing prosperity handed off one generation to the next....

until now, our kids will make less, be taxed more and enjoy less prosperity....


we are witnessing the end of the American dream.....

10 years from now we will be borrowing or printing money because the interest on the debit will be 50% of the annual federal budget.....
_________________________
Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.


Return to Top
#1336253 - 02/02/10 11:54 PM Re: Two President's in One Pale Rider
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,400
I don't get how we got here when Clinton left a surplus. WTF happened???!!! Did it really have that much to do with coming back after 9/11.

Return to Top
#1336263 - 02/03/10 12:43 AM Re: Two President's in One Truffle Royale
Spivol Offline
Power Poster
Spivol
Joined: May 2005
Posts: 3,050
Tulsa, Ok
You know TR, I don't know either. It seems like it's just getting worse every day. I often wonder if it's as bad as they say or if it's all propaganda.
_________________________
It takes a long time but God dies too, but not before he'll stick it to you. - Issac Brock

Return to Top
#1336301 - 02/03/10 12:46 PM Re: Two President's in One Truffle Royale
Jokerman Offline
10K Club
Joined: Nov 2003
Posts: 12,846
Originally Posted By: Truffle Royale
I don't get how we got here when Clinton left a surplus. WTF happened???!!! Did it really have that much to do with coming back after 9/11.

What happened is we decided to give basically unlimited government guarantees to quasi-government agencies that were purchasing high-risk mortgage pools, shoveling the cash flow into their exec's bank accounts, and leaving the taxpayer holding the bag for all the risk.

What's happened is we're projecting to grow government spending to record levels as a percentage of GDP, while revenues are, indeed, down because of the economic downturn, and not expected to return to normal levels for some time.

What happened is we've continued to make promises about ponzi-scheme entitlements that depend on expanding populations (more younger folks than older folks) while our birthrate has declined and our lifespans are increasing. We've built up huge unfunded liabilities, and crucified Bush when he tried to move us in the right direction on one five years ago.

Return to Top
#1336311 - 02/03/10 01:22 PM Re: Two President's in One Jokerman
Retired DQ Offline
10K Club
Retired DQ
Joined: Dec 2002
Posts: 40,766
Turnpike Exit 10
And that's Obama's fault... smirk
_________________________
Get your facts first, then you can distort them as you please. - Mark Twain

Return to Top
#1336316 - 02/03/10 01:29 PM Re: Two President's in One Retired DQ
A_G Online
10K Club
Joined: Jul 2004
Posts: 18,989
Well you know, the 8 years in between Clinton and Obama...those just get ignored.
_________________________
With the lights out, it's less dangerous.

Return to Top
#1336320 - 02/03/10 01:36 PM Re: Two President's in One Jokerman
edAudit Offline
Power Poster
edAudit
Joined: Jul 2008
Posts: 4,796
You are here
I don't get how we got here when Clinton left a surplus. WTF happened???!!! Did it really have that much to do with coming back after 9/11.

What also happened is this was a projected surplus.

If you look at the national debt (the only number that counts)for that time period the national debt actually went up. Do not believe what the media told you. If I make a budjet that includes items that have no chance of success I can project a surplus as well.
_________________________
Opinions can be considered as coming from anywhere but my employer.

CAMS


Return to Top
#1336360 - 02/03/10 02:05 PM Re: Two President's in One Jokerman
Buccs Offline
Power Poster
Joined: May 2009
Posts: 3,567
Ohio
Originally Posted By: Jokerman
Originally Posted By: Truffle Royale
I don't get how we got here when Clinton left a surplus. WTF happened???!!! Did it really have that much to do with coming back after 9/11.

What happened is we decided to give basically unlimited government guarantees to quasi-government agencies that were purchasing high-risk mortgage pools, shoveling the cash flow into their exec's bank accounts, and leaving the taxpayer holding the bag for all the risk.

What's happened is we're projecting to grow government spending to record levels as a percentage of GDP, while revenues are, indeed, down because of the economic downturn, and not expected to return to normal levels for some time.

What happened is we've continued to make promises about ponzi-scheme entitlements that depend on expanding populations (more younger folks than older folks) while our birthrate has declined and our lifespans are increasing. We've built up huge unfunded liabilities, and crucified Bush when he tried to move us in the right direction on one five years ago.

Fighting 2 wars with supplementals while cutting taxes was also (maybe!) a contributing factor, but let's just gloss over that.

Return to Top
#1336374 - 02/03/10 02:13 PM Re: Two President's in One Buccs
HappyGilmore Offline
10K Club
Joined: Jun 2004
Posts: 19,858
Pulling people out of the ditc...
Word of the Day - GLOSS
_________________________
Providing alternative truths since the invention of time

Return to Top
#1336378 - 02/03/10 02:15 PM Re: Two President's in One HappyGilmore
Miscuit Offline
10K Club
Miscuit
Joined: Aug 2005
Posts: 18,789
TX
lip GLOSS whistle

Return to Top
#1336382 - 02/03/10 02:16 PM Re: Two President's in One Miscuit
A_G Online
10K Club
Joined: Jul 2004
Posts: 18,989
People who live in GLOSS houses whistle
_________________________
With the lights out, it's less dangerous.

Return to Top
#1336398 - 02/03/10 02:24 PM Re: Two President's in One HappyGilmore
Buccs Offline
Power Poster
Joined: May 2009
Posts: 3,567
Ohio
Originally Posted By: HappyGilmore
Word of the Day - GLOSS

Can I get a legal expert? Which chapter of the code applies here?

Return to Top
#1336477 - 02/03/10 03:12 PM Re: Two President's in One Buccs
Retired DQ Offline
10K Club
Retired DQ
Joined: Dec 2002
Posts: 40,766
Turnpike Exit 10
Sticks and stones may break my bones, but GLOSS will never hurt me.
_________________________
Get your facts first, then you can distort them as you please. - Mark Twain

Return to Top
#1336505 - 02/03/10 03:34 PM Re: Two President's in One edAudit
MB Guy Offline
10K Club
Joined: May 2004
Posts: 10,124
Way, way south.
Originally Posted By: EdAudit
....If you look at the national debt (the only number that counts)for that time period the national debt actually went up. Do not believe what the media told you. If I make a budjet that includes items that have no chance of success I can project a surplus as well.


I agree with Ed here, the National Debt is the most important figure.
_________________________
Giddy up.

Return to Top
#1336517 - 02/03/10 03:39 PM Re: Two President's in One Buccs
straw Offline
Power Poster
straw
Joined: Nov 2002
Posts: 9,121
Originally Posted By: Buccs
Originally Posted By: Jokerman
Originally Posted By: Truffle Royale
I don't get how we got here when Clinton left a surplus. WTF happened???!!! Did it really have that much to do with coming back after 9/11.

What happened is we decided to give basically unlimited government guarantees to quasi-government agencies that were purchasing high-risk mortgage pools, shoveling the cash flow into their exec's bank accounts, and leaving the taxpayer holding the bag for all the risk.

What's happened is we're projecting to grow government spending to record levels as a percentage of GDP, while revenues are, indeed, down because of the economic downturn, and not expected to return to normal levels for some time.

What happened is we've continued to make promises about ponzi-scheme entitlements that depend on expanding populations (more younger folks than older folks) while our birthrate has declined and our lifespans are increasing. We've built up huge unfunded liabilities, and crucified Bush when he tried to move us in the right direction on one five years ago.

Fighting 2 wars with supplementals while cutting taxes was also (maybe!) a contributing factor, but let's just gloss over that.


I love this supplemental kick you are on. Can you forward me the blog you picked this cherry from so I can see what was really said because I am not entirely sure why this bugs you so much.

In fact, one could argue that the supplemental authorization beats the omnibus spending bills, as many politicians vote for the omnibus and then say they didn't like it but what choice did they have. The supplemental bill allows everyone to go on record for the specific spending. The money is still spent either way.

Return to Top
#1336518 - 02/03/10 03:39 PM Re: Two President's in One Retired DQ
Miscuit Offline
10K Club
Miscuit
Joined: Aug 2005
Posts: 18,789
TX
Originally Posted By: DeValentine
Sticks and stones may break my bones, but GLOSS will never hurt me.



wanna bet?

Return to Top
#1336527 - 02/03/10 03:44 PM Re: Two President's in One straw
Buccs Offline
Power Poster
Joined: May 2009
Posts: 3,567
Ohio
Originally Posted By: straw
I love this supplemental kick you are on. Can you forward me the blog you picked this cherry from so I can see what was really said because I am not entirely sure why this bugs you so much.

In fact, one could argue that the supplemental authorization beats the omnibus spending bills, as many politicians vote for the omnibus and then say they didn't like it but what choice did they have. The supplemental bill allows everyone to go on record for the specific spending. The money is still spent either way.
If I c&p from a blog or other source I always post the source.

You could also say that by passing spending in a supplemental bill it artificially deflates the budget. Especially if said spending was for a war that the administration knew it was going to have to pay for.

Return to Top
#1336533 - 02/03/10 03:49 PM Re: Two President's in One Buccs
straw Offline
Power Poster
straw
Joined: Nov 2002
Posts: 9,121
I see and those supplementals are the reason for the current budget calling for 1.35 trillion in deficit, which includes health care savings from a bill that hasn't passed and an unknown number (because they didn't disclose it) in revenue from a cap and trade regime that isn't law either.

I am sure you are crowing loudly about those budget gimmicks too. As well as the ludcirous growth assumptions in the budget that allow the projected deficit look better than it will actually be.

Let's here those arguments please, since that is what we are facing now.

Return to Top
#1337060 - 02/03/10 09:43 PM Re: Two President's in One straw
Jokerman Offline
10K Club
Joined: Nov 2003
Posts: 12,846
That was exactly what I was getting ready to type, straw - argue all you want about Iraq, but I don't see how it's the reason Obama's best-case scenario is an $800 billion deficit in 2020. Surely he'll have had time to end those two wars and repeal the Bush Tax Cuts For The Very Rich (TM) by then, right?

Return to Top
#1337064 - 02/03/10 09:45 PM Re: Two President's in One Jokerman
straw Offline
Power Poster
straw
Joined: Nov 2002
Posts: 9,121
A republican congressman tried to make the same point with the Treasury Secretary today, but Geithner reiterated the administration inherited a terrible deficit and that is factual.

I guess the Bush adminstration will loom over budgets for decades to come.

Return to Top
#1337084 - 02/03/10 10:05 PM Re: Two President's in One straw
DD Regs Offline
Power Poster
DD Regs
Joined: Nov 2008
Posts: 4,132
Somewhere in the middle
So going forward, when there is a budget deficit, the only logical explanation will be the new GAAP term, "The Bush Factor".
_________________________
I'm only responsible for what I say, not for what you understand.

Return to Top