That would be because unlike Uncle Santa, states, counties, cities and so forth can't simply conjure up their own money when things are tight, hackmitter.

Gulper Eel: That would be because unlike Uncle Santa, states, counties, cities and so forth can't simply conjure up their own money when things are tight, hackmitter.

Psst. The link is talking about Federal spending. You know, the one Republicans say he's massively expanding.

GAT_00: Gulper Eel: That would be because unlike Uncle Santa, states, counties, cities and so forth can't simply conjure up their own money when things are tight, hackmitter.

Psst. The link is talking about Federal spending. You know, the one Republicans say he's massively expanding.

And before you point out the state spending at the bottom, the comment refers to Federal spending.

Is this one of those "Reality has a liberal bias" moments?

According to CBS, the national debt has increased by $4Trillion under Obama. Something tells me spending is involved.

This should be dizzying.

torch: According to CBS, the national debt has increased by $4Trillion under Obama. Something tells me spending is involved.

Something tells me you don't know how a debt is made.

"That's just what we would expect a Commie to do, Mandrake. Your hard-core Commie is sneaky. For this reason, I want to impress upon you the need for extreme watchfulness. He may even come in the uniform of our own tax-cutting, spending-cutting, Capitalist troops. God willing, we will prevail, through the purity and essence of our precious bodily fluids."

ib_thinkin: Something tells me you don't know how a debt is made.

Democrats and Republicans get together in a room and fark (us)?

FTFA: But with interest rates now at historical lows, it's a little surprising that we're choosing this moment to not borrow more money from eager investors to spare total government from its own sharp knives and make down-payments on things we know we need, like roads and broadband. President Obama isn't fully responsible for this era of premature and self-inflicted austerity.

I think its partly because the Bush tax cuts will expire at the end of this year. That will change some significant fiscal parameters. The half-a-trillion cuts in the Defense Department will hopefullly contribute to a more realistic long-term budget too.

torch: According to CBS, the national debt has increased by $4Trillion under Obama. Something tells me spending is involved.

Something tells me you don't understand numbers.

/troll

Is this like Clinton not including medicare and social security in the 'balanced' budget?

FTFA: Now open your eyes. Welcome to Austerity USA. Total government employment -- that's federal, state, and local -- has indeed fallen by the sharpest annual rate since the 1940s. It's now at 2006 levels and declining.

Its a pretty significant part of why unemployment rate is stubborn. More and more government jobs at all levels are disappearing. Reuters says the forecast for this Friday's numbers is a loss of 20,000 government jobs, mostly at the local level. (new window). My wife recently applied for a job with our local city government--at the service exam she said there were at least 150 people testing for the position at that one exam.

But if you're a deficit-obsessed voter, the clock doesn't answer the key question: How much has Obama added to the debt, anyway?

There are two answers: more than $4 trillion, or about $983 billion. The first answer is simple and wrong. The second answer is more complicated but a lot closer to being right.



Link (new window)

RobertBruce: Is this like Clinton not including medicare and social security in the 'balanced' budget?

Sure. Like Bush kept Iraq and Afghanistan of the books.

/both sides be bad, vote (R)

RobertBruce: Is this like Clinton not including medicare and social security in the 'balanced' budget?

Presuming that actually happened and wasn't a figment of your schizophrenic mind, no, it's nothing like that at all. RTFA.

In fact, the drop in federal spending was cited as one of the things that caused GDP to grow much more slowly than expected last quarter. (new window)

Of course the cognitive dissonance crowd blamed the slowed GDP growth on Obama's failed policies, failing to realize that their plans to cut government spending would have ended up causing the same result.

ib_thinkin: RobertBruce: Is this like Clinton not including medicare and social security in the 'balanced' budget?

Presuming that actually happened and wasn't a figment of your schizophrenic mind, no, it's nothing like that at all. RTFA.

It's his personal defense mechanism. These are facts that are absolutely contradictory to his worldview and he has no idea how to incorporate them. Straight bullshiat is his only defense mechanism.

Dusk-You-n-Me: But if you're a deficit-obsessed voter, the clock doesn't answer the key question: How much has Obama added to the debt, anyway?

There are two answers: more than $4 trillion, or about $983 billion. The first answer is simple and wrong. The second answer is more complicated but a lot closer to being right.

[i.imgur.com image 640x365]

Link (new window)

You know, I like all your fancy charts and graphs and stuff, but this horrible economy is owned by 0Bummer through and through. He's put this country in the poorhouse intentionally, and it shows. Unemployment was 7.8% when he took office, and now it's 8.5% and climbing, and we're $14 trillion in debt because of ObamaCare!! Where's the hope when you're too busy paying for welfare queens and illegal immigrants to get sex change operations? The LIBERAL media will never tell you any of that though! You're BRAINWASHED by liberal facts! We need to elect someone who can turn this country around and put us back on the moon! GO AMERICA! GINGRICH 2012

cmunic8r99: In fact, the drop in federal spending was cited as one of the things that caused GDP to grow much more slowly than expected last quarter. (new window)

Yep. Austerity is doing wonders overseas.

Link (new window)

Link (new window)

Link (new window)

Link (new window)

The outside of a big wheel travels faster as it turns than a small wheel. His spending was a huge thing, so slowing that down of course makes one of these bullshiat-esconsing claims.

Oh boy,

Dusk-You-n-Me: cmunic8r99: In fact, the drop in federal spending was cited as one of the things that caused GDP to grow much more slowly than expected last quarter. (new window)

Yep. Austerity is doing wonders overseas.

Link (new window)

Link (new window)

Link (new window)

Link (new window)

Interesting.

IronTom: The outside of a big wheel travels faster as it turns than a small wheel. His spending was a huge thing, so slowing that down of course makes one of these bullshiat-esconsing claims.

Oh boy,

Fark is comprised of many many stupid statements, but you still managed to fire one toward the top of the heap.

make me some tea: Dusk-You-n-Me: cmunic8r99: In fact, the drop in federal spending was cited as one of the things that caused GDP to grow much more slowly than expected last quarter. (new window)

Yep. Austerity is doing wonders overseas.

Link (new window)

Link (new window)

Link (new window)

Link (new window)

Interesting.

Here's another good one about the damages of Austerity in Greece. As a counter point, it should be noted that borrowing costs have fallen by 30% since the S&P decided the US government was a loan risk.

Obama has decreased spending. Really.

IronTom: His spending was a huge thing, so slowing that down of course makes one of these bullshiat-esconsing claims.

WTF are you even on about?

AdolfOliverPanties: IronTom: The outside of a big wheel travels faster as it turns than a small wheel. His spending was a huge thing, so slowing that down of course makes one of these bullshiat-esconsing claims.

Oh boy,

Fark is comprised of many many stupid statements, but you still managed to fire one toward the top of the heap.

No more stupid than the headline that tries to paint a pretty picture on a pig turd.

TheDumbBlonde: Obama has decreased spending. Really.

Yep! There's numbers and everything!

And here we have two more people who simply cannot process this information into their worldview and have gone for outright denial.

Spinning up the koolaid machine early I see.

And now for a trip to Realityland -

$5 Trillion and Change

The political strategy behind Obamanomics was always simple: Call for "stimulus" to rescue the economy, run up the debt with the biggest spending blitz in 60 years, and then when the deficit explodes call for higher taxes. The Congressional Budget Office annual review released yesterday shows this is all on track.

CBO reports that annual spending over the Obama era has climbed to a projected $3.6 trillion this fiscal year from $2.98 trillion in fiscal 2008, or more than 20%. The government spending burden has averaged 24% of GDP, up from an average of about 20%. This doesn't include the $2 trillion tab for ObamaCare.

All of this has increased the federal debt by about $5 trillion in a mere four years. Thanks to higher revenues, the federal deficit will decline to $1.08 trillion in 2012, or 7% of GDP. But that is still the highest deficit since 1946-except for the previous three years. In other words, the four years of the Obama's Presidency will mark the four highest years in spending and deficits as a share of the economy since Harry Truman sat in the Oval Office.

And don't forget the national debt held by the public-the kind we have to pay back. On President Obama's watch, CBO says public debt will climb this year to 72.5% of the economy from 40.3% in 2008. This isn't as high as Italy or Greece, but it's rising fast toward the 90% level that begins to debilitate an economy.

We pause from this gloom for some good news: Despite the abuse they've taken, House Republicans have made some fiscal progress. CBO estimates that overall federal spending in 2012 will grow by only $3 billion, or less than 1%, which compares with double digit increases during the Obama-Pelosi years. Republicans have also tried to reform entitlements, but Democrats wanted a $1 trillion tax hike ransom for even modest cuts, which was wisely rejected.

The other part of the fiscal story is that revenues have been in the tank for five years. In 2012 revenues will hit $2.52 trillion down from $2.57 trillion in 2007. Revenues are still only 16.3% of GDP, about two percentage points below the norm.

You can read the rest here. No reg required, but Fark wouldn't let me link it.
http://online.wsj.com/article/SB1000142405297020474090457719535214884 4 134.html?mod=djemEditorialPage_h

MeinRS6: And now for a trip to Realityland -

$5 Trillion and Change

The political strategy behind Obamanomics was always simple: Call for "stimulus" to rescue the economy, run up the debt with the biggest spending blitz in 60 years, and then when the deficit explodes call for higher taxes. The Congressional Budget Office annual review released yesterday shows this is all on track.

CBO reports that annual spending over the Obama era has climbed to a projected $3.6 trillion this fiscal year from $2.98 trillion in fiscal 2008, or more than 20%. The government spending burden has averaged 24% of GDP, up from an average of about 20%. This doesn't include the $2 trillion tab for ObamaCare.

All of this has increased the federal debt by about $5 trillion in a mere four years. Thanks to higher revenues, the federal deficit will decline to $1.08 trillion in 2012, or 7% of GDP. But that is still the highest deficit since 1946-except for the previous three years. In other words, the four years of the Obama's Presidency will mark the four highest years in spending and deficits as a share of the economy since Harry Truman sat in the Oval Office.

And don't forget the national debt held by the public-the kind we have to pay back. On President Obama's watch, CBO says public debt will climb this year to 72.5% of the economy from 40.3% in 2008. This isn't as high as Italy or Greece, but it's rising fast toward the 90% level that begins to debilitate an economy.

We pause from this gloom for some good news: Despite the abuse they've taken, House Republicans have made some fiscal progress. CBO estimates that overall federal spending in 2012 will grow by only $3 billion, or less than 1%, which compares with double digit increases during the Obama-Pelosi years. Republicans have also tried to reform entitlements, but Democrats wanted a $1 trillion tax hike ransom for even modest cuts, which was wisely rejected.

The other part of the fiscal story is that revenues have been in the tank for five ...

No, he has decreased spending. You are obviously an ignorant racist. Shame.

Obviously.

Spending cuts. I don't know... don't sound too Democrat-y to me.

MeinRS6: We pause from this gloom for some good news: Despite the abuse they've taken, House Republicans have made some fiscal progress.

GIVE ME A FARKING BREAK.

House Republicans haven't done a Goddamned thing. Jesus Christ almighty.

Then again, if they defunded the presidential teleprompter and PBS, we could save TRILLIONS.

AdolfOliverPanties: IronTom: The outside of a big wheel travels faster as it turns than a small wheel. His spending was a huge thing, so slowing that down of course makes one of these bullshiat-esconsing claims.

Oh boy,

Fark is comprised of many many stupid statements, but you still managed to fire one toward the top of the heap.

Oh give him a break. Being that stupid is the only thing he's good at.

IronTom: Spinning up the koolaid machine early I see.

Feel free to point out the inaccuracies in the article.

AdolfOliverPanties: House Republicans haven't done a Goddamned thing. Jesus Christ almighty.

That's not true. They've done a whole bunch of bullshiat that hasn't actually fixed anything and directly tried to kill the US economy by holding it hostage for political gain, causing the first downgrade to US credit for decades.

MeinRS6: And now for a trip to Realityland -

$5 Trillion and Change

The political strategy behind Obamanomics was always simple: Call for "stimulus" to rescue the economy, run up the debt with the biggest spending blitz in 60 years, and then when the deficit explodes call for higher taxes. The Congressional Budget Office annual review released yesterday shows this is all on track.

CBO reports that annual spending over the Obama era has climbed to a projected $3.6 trillion this fiscal year from $2.98 trillion in fiscal 2008, or more than 20%. The government spending burden has averaged 24% of GDP, up from an average of about 20%. This doesn't include the $2 trillion tab for ObamaCare.

All of this has increased the federal debt by about $5 trillion in a mere four years. Thanks to higher revenues, the federal deficit will decline to $1.08 trillion in 2012, or 7% of GDP. But that is still the highest deficit since 1946-except for the previous three years. In other words, the four years of the Obama's Presidency will mark the four highest years in spending and deficits as a share of the economy since Harry Truman sat in the Oval Office.

And don't forget the national debt held by the public-the kind we have to pay back. On President Obama's watch, CBO says public debt will climb this year to 72.5% of the economy from 40.3% in 2008. This isn't as high as Italy or Greece, but it's rising fast toward the 90% level that begins to debilitate an economy.

We pause from this gloom for some good news: Despite the abuse they've taken, House Republicans have made some fiscal progress. CBO estimates that overall federal spending in 2012 will grow by only $3 billion, or less than 1%, which compares with double digit increases during the Obama-Pelosi years. Republicans have also tried to reform entitlements, but Democrats wanted a $1 trillion tax hike ransom for even modest cuts, which was wisely rejected.

The other part of the fiscal story is that revenues have been in the tank for five ...

Including 2009 number in the math is lying. Obama didn't sign that budget, Bush did.

You were saying?

Sales tax on stock purchases. 2.5 pennies per share.
Sunset the Bush tax cuts.
Cut DHS by 2/3.
Start building bridges and roads.

wait, i'm confused. are we celebrating austerity in the face of recession in this thread?

cameroncrazy1984: Including 2009 number in the math is lying. Obama didn't sign that budget, Bush did.

You were saying?


Mr. Integrity, lying?

TheDumbBlonde: No, he has decreased spending. You are obviously an ignorant racist. Shame.

he's literally a racist nazi. literally.

he farking admitted it.


/and yet some moderator has a hard on for him and protects him.

AdolfOliverPanties: House Republicans haven't done a Goddamned thing. Jesus Christ almighty.

Not true! Sure, they haven't come up with a budget, but I believe we've affirmed the In God We Trust Motto. Several abortion bills. A nod to to creative journalist O'Keefe, Job creators all.

God's gonna bail out the budget. He likes us.