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Thread: Trump's budget: Oceans of red ink

  1. #41
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    Quote Originally Posted by HayJenn View Post
    Of course you have to include the debt he inherited.

    And again, for like the 4th time, Obama put GWB tax cut and Medicare Part D in his budget - where GWB did not

    And George W. Bush initiated two major wars in Iraq and Afghanistan, but adamantly refused to pay for either of them by cutting non-military spending or raising taxes.

    Combine all those together you get trillions of dollars he inherited.

    Funny to how nobody wants to talk about how Obama greatly reduced the deficit either.
    The GWB tax cuts expired in 2010, they were gone.

    Obama and Dems that controlled congress resurrected them and then went on to make them permanent. They became the Obama Tax Cuts in 2010. Obamacare expanded the Medicare Part D spending, remember closing the doughnut hole.

    Obama expanded spending in Afghanistan with his failed surge that cost hundreds of billions and thousands of US troop lives.

    In his last year in office Obama added $1.4 trillion to the debt, as your cite pointed out, how is that reducing anything?
    Last edited by Libertine; 12th February 2018 at 05:18 PM.

  2. #42
    Thought Provocateur NightSwimmer's Avatar
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    You'd have to go back to Eisenhower to find fiscally responsible executive leadership from a Republican. Every Republican President since then has seen the federal deficit increase as a percentage of GDP during their terms in office. On the other hand, we have moved in the opposite direction under Presidents Obama, Clinton, Carter, Johnson, and Truman.

    Based upon past performance, the modern GOP is simply not a fiscally conservative political party. The numbers don't lie: https://www.whitehouse.gov/omb/historical-tables/

  3. #43
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    Quote Originally Posted by Libertine View Post
    The GWB tax cuts expired in 2010, they were gone.
    That's not true. They have never been fully repealed.

  4. #44
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    Quote Originally Posted by HayJenn View Post
    Quit lying. That lame talking point has been debunked over and over.
    National debt on 1-20-09 10.626 Trillion

    National debt on 1-20-17 19.994 Trillion

    Obama added 9.368 Trillion

    Just the facts, Ma'am.

  5. #45
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    Quote Originally Posted by Miller47 View Post
    National debt on 1-20-09 10.626 Trillion

    National debt on 1-20-17 19.994 Trillion

    Obama added 9.368 Trillion

    Just the facts, Ma'am.
    While accepting the Republican nomination for president, Donald Trump said, "President Obama has almost doubled our national debt to more than $19 trillion, and growing."

    While the statistic is true (the debt has either nearly, fully, or more than doubled since Obama's first inauguration, depending on the measure of debt), it is a vast overstatement to place the entire blame on Obama; rather, it's complicated. Some of the debt increase was already projected to occur before anything was signed by Obama. Moreover, spending and tax decisions are primarily the responsibility of Congress – at least officially – and often end up being the result of actions (or inactions) agreed upon by both Congress and the president

    However, measuring debt in dollars fails to account for inflation or the fact that the economy and population are larger in 2016 than they were in 2008. Measured as a share of the economy, the debt nearly doubled from 39.4 percent at the end of Fiscal Year (FY) 2008 (four months before Obama took office) to 75.4 percent projected at the end of FY 2016 (two months from now). Gross debt increased by less than half from 70.2 percent at the end of FY 2008 to 104.2 percent projected at the end of FY 2016.

    Has President Obama Doubled the National Debt? | Committee for a Responsible Federal Budget

  6. #46
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    Quote Originally Posted by NightSwimmer View Post
    You'd have to go back to Eisenhower to find fiscally responsible executive leadership from a Republican. Every Republican President since then has seen the federal deficit increase as a percentage of GDP during their terms in office. On the other hand, we have moved in the opposite direction under Presidents Obama, Clinton, Carter, Johnson, and Truman.

    Based upon past performance, the modern GOP is simply not a fiscally conservative political party. The numbers don't lie: https://www.whitehouse.gov/omb/historical-tables/
    https://www.whitehouse.gov/wp-conten...z1-fy2019.xlsx

    Your cite doesn't agree with your claims. It shows that debt as a percentage of GDP at 68% as Obama took office and 106% in Obama's last year. It dropped to 105% in Trump's first year.

  7. #47
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    Quote Originally Posted by Libertine View Post
    https://www.whitehouse.gov/wp-conten...z1-fy2019.xlsx

    Your cite doesn't agree with your claims. It shows that debt as a percentage of GDP at 68% as Obama took office and 106% in Obama's last year. It dropped to 105% in Trump's first year.
    And now it's going to skyrocket - which you keep ignoring.

  8. #48
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    Quote Originally Posted by NightSwimmer View Post
    That's not true. They have never been fully repealed.
    No repeal necessary, the GWB tax cuts automatically expired because it was passed by reconciliation. If Congressional Dems had not taken action to resurrect them in 2010 they would have went away.

  9. #49
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    Quote Originally Posted by HayJenn View Post
    And now it's going to skyrocket - which you keep ignoring.
    It will go up, but not go up as much as it did under Obama.

    Like I said I favor cutting spending, not increasing it as Obama did hugely.

  10. #50
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    Quote Originally Posted by Libertine View Post
    It will go up, but not go up as much as it did under Obama.

    Like I said I favor cutting spending, not increasing it as Obama did hugely.
    Except the actual economic experts disagree with you.

    Remember, this is 3 different "programs". Which really are not needed because the economy is doing just fine on it's own.

    And it's so funny to watch the same people over and over not acknowledge the debt Obama inherited.

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