US budget deficit expands to $779 billion in fiscal 2018

1) the 2009 deficit is not Obama's. I realize the right pundit media like to make up nonsense and pretend it is true but, now that you have been corrected please do not make this same mistake again.

2) That you do not understand what a constant dollar is means you should not be making the claims you do.

 

Wrong that's a decrease in government activity that will be more than made up for in the private sector. The only product of government above the local level is red tape and excess demand for consumer goods of which it produces none and hampers the production of everything. And your 1% Stimulus has thus far produced about a 2% and growing economic growth boost. Government is not the economy's engine it is it's brake everything government does has negative economic impacts, from regulations to interest rates to taxes all have negative economic consequences. You don't have to do anything to make Democratic presidents look bad. Increases in regulatory overburden alone insures that the economy will be strait jacketed.

 

the right wants to cut govt and have more freedom and capitalism while the left wants Sanders and communism. Do you know which is better and why??

 

total BS of course. Republicans are for fiscal responsibility while Democrats oppose. Republicans have tried 30 times to make deficits illegal and Democrats have killed every effort because cuts in welfare entitlements would make them instantly extinct! 1+1=2

 

Don't forget sequester.. That was the nose twitch that slowed Mr. Obatards run on the printing press to a "HARD STOP", otherwise he and the rest of the leftist would have simply continued with a 800 billion to a trillion + deficit! And the sad part is Mr. Obatard wasn't performing near as well as Trump economy is, so at least many American "Blacks more then most" are seeing improved quality of life. Unlike the leftist plantation economics where they were simply buying votes with taxpayer money thru relief/welfare while saddling future young Americans with crazy debt tomorrow and decades to come!

The moron put ZERO funding into the countries infrastructure, created nothing unique and simply pored trillions in to the crapper..

 

So he wasn’t part of the Dem Controlled US Congress for the two years leading to it?

 

very true!! Democrats are proud of being fiscally irresponsible because they need to cripple the poor with more and more welfare spending to stay in office.

 

30 times ? Not in the time period under discussion they havn't. Perhaps no one told you but the President has veto power and 2/3rd's of congress needed for debate on any bill to end.

Reagan spent money like a princess with a credit card - and Red congress agreed with this spending.
Under Bush Sr. it was the same story- and Red congress did not stop the spending spree
Bush - same thing

Now we have Trump - who controls both houses - spending money like a princess with a credit card.

The Republican Establishment clown show talks the talk but, does not walk the walk. Actions speak louder than words.

 

At least the they are not liars and hypocrites like the Republican Establishment in relation to their love of fiscal irresponsibility.

Speaking of hypocrisy - I laugh in your general direction - and the religious right in general as they demonize those who want to ensure the poor are fed while claim to be followers of Jesus.

Pathetic on steroids.

 

Absolutely true. I think we go to war with those who try to get off the $$$$. Iraq wanted off for trading oil. We went to war.

 

And how would the Dems have done this with Republicans in control of the Senate ? The Sequester did not come into effect until 2013.

Blaming Obama for the deficits in his first term is like blaming new captain of a ship for using to much water to put out a massive fire that the previous captain started before jumping ship.

Any idiot can stimulate the economy while increasing deficits. What is tough is to keep the ship afloat while reducing the deficit.

Obama was handed a 1.4 Trillion dollar deficit. Revenue in 2009 decreased from 2.7 Trillion down to 2.1 Trillion due to the 2008 crash - housing market crash and near collapse of the financial system. Revenue did not recover to 2.7 Trillion until 2013.

Obama reduced the deficit from 1.4 Trillion down to roughly 550 Billion on average over the last 3 years.

Trump walked into a stable economy and increased the deficit - as Red Establishment always has done since and including Reagan.

What is bad about Trumps reckless spending is that not only was this not needed due to a stable economy - we are now in a rising interest rate environment = the pinnacle of fiscal irresponsibility.

 

The main cause of the massive 2009 deficit was the 2008 crash. Bush's budget was for 3.1 Trillion in spending on 2.7 Trillion in revenue = a deficit of 400 Billion. That is what was spent (sans stimulus spending due to the crash).

Spending ended up at 3.5 Trillion - 400 Billion higher than projected. 250 Billion for TARP - enacted under Bush (bipartisan) and 150 Billion in further stimulus spending under Obama (bipartisan).

Spending thus ended up being 800 Billion higher than projected revenue. The other 600 Billion was due to revenue decreasing from 2.7 Trillion down to 2.1 Trillion. That was no Obama's fault either.

 

Nah, you like all leftist give that ass far to much credit! Just what did he save? No leftist can actually tout anything but "The economy" whereas a dozen independent economist prove that Mr. Obatard never had the amount of funding it would have taken to "Boost" what the left claim he saved. It was simply unattainable with the amount of money "stimulus" and the amount he doled out to all the major lending institutions in those first three years of his first term, simply couldn't happen! Mr. Obatard recovery was nothing more then propping up the big bank and distributing a very small amount to those laid off workers in extended and EXTENDED unemployment benefits until those 11 million eventually exhausted their Obama extended vacation and took their place in the fully employed column and forever forgotten!

Again, what did he save, housing foreclosures, hardly. People lost their homes and jobs. What jobs did he spur, "Service sector" fancy name for McDonalds and waitress employment. Infrastructure, not even remotely true! All he bought with his eight trillion was a crap 1.8% economic growth that never even kept up with grads leaving College, that ended up living with Mommy and Daddy until their thirties!

Mr. Obama was nothing but a stank ass con man, and that was made possible because his base chose the realm of delusion and convinced themselves that the U.S. was doing great when the indicators blatantly proved otherwise..

 

What "too much" credit ? I slam him for many things on a regular basis. What I don't do is blame Obama for things he didn't do in a maniacal partisan rant and engage in blind denial of realty and or hypocrisy.

Instead of responding to the facts presented, you demonize the messenger by calling me a "Lefty" - then turn around and applaud Trump for wealth redistribution.

You got the "bailing out the banks" and not helping the poor correct but, this has nothing to do with Obama not being responsible for the 2009 Deficit and being left with a mess which sucked the air out of his first term.

Was he a "con man" absolutely - and so is Trump.

Was he bad for the economy ? This is a mixed question. His regulatory fervor and idiotic puppet state pipeline (Keystone) nonsense damaged the flow of global capital into this nation.

I applauded Trump for some of his regulatory moves but, this Trade war and his sanctions are doing serious long term harm to our national economic security.

Any idiot can stimulate the economy with credit card spending (increasing the deficit - increasing Gov't spending and Big Gov't) - which is what Trump has done. What is not so easy is stimulating economic growth while decreasing the deficit from 1.4 Trillion down to 500 Billion and reigning in spending.

Trump was handed an economy that was stable. It is rash and fiscally irresponsible to increase credit card spending the way he has done in a stable and improving economic environment. The Dow went from 6500 to 18000 during Obama's term.

The pinnacle of fiscal irresponsibility is to increase deficits (for no good reason - stable economy) in a rising interest rate environment.

 

Congress passed budgets not the president

 

And their is where you and others went wrong, none of his base held the mutt responsible for actual facts and the things "He didn't do for this country"! They just gobbled whatever tripe the Left Wing media slopped the trough with and never gave it any independent thought or regard!

Well done, maybe you will recognize this as a learning moment in your life

 

And are you having difficulty correlating the date of the sequester and the year Mr. Obatards run away deficit was reigned in? Come on stud, NOTHING could be more blaringly obvious If not for "Forced" cuts this idiot of a President would have continued to carry a trillion dollar deficit throughout his entire time in office..

And in MPO, never produced anything Trumps has in two years, the indicators and his "This is the new Norm economy" attitude never changed over eight years of stagnant growth.. And worse part of all of it is, the leftist allowed this moron to get away with a defeatist agenda, but to their defense, democratic defeatism and hatred for American exceptionalism and the strange unhealthy need to teach and live as martyrs is now huge part of the leftist Psyche..

Success is a frame of mind, something many leftist do subscribe to anymore..

 

So what is your point - how does this make the 2009 Deficit "Obama's fault" ?

 

Nice attempt to put words in my mouth ...

 

Those are your words, I simply left all the hyperbole nonsense out of it!

 

Are you having difficulty understanding the concept that Republican congress went along with the stimulus ? You pick and choose while ignoring the obvious in a partisan attempt to demonize the left while ignoring the same problem on the right.

I do not have a partisan dog in this fight. I call a spade a spade and back up what I say with facts and figures.

You are not going to get any pushback from me for calling out Obama's stupidity - that which he is actually responsible for. I have written lengthy posts on Obama's failings - including things he did not do.

Obama did a complete 180 and turned into an Establishment wonk.

Trump is running this nation into the ground - following the same path as Reagan which nearly bankrupted the nation. Increasing the deficit in a rising interest rate environment is the pinnacle of fiscal irresponsibility.

You jump and cheer because during the first six months of this fiscal year he did a cash injection of 600 Billion in deficit spending into the economy - a more than 300 Billion dollar increase. You say "LOOK LOOK" GDP is rising.

Well I would hope so - this is like cheering when a car goes faster due to a nitrous oxide injection when you know the engine has to last. This is short term gain for long term pain.

So what happened - GDP in the second quarter spiked to 4.2 % . Estimate for the third quarter ? 3.6%

This is like upping your credit card limit followed by maxing out those cards and saying "LOOK LOOK ... Look how well we are doing - our household spending has increased"

In the meantime - rising interest rates - and floating huge amounts at these higher rates are pushing our annual interest payments up at a high rate.

Who is going to pay for this spending spree ? It won't be the international financiers that Obama bailed out or the international financiers that Trump's tax cut went to benefit. It will be you, me and our children and grandchildren.

Whats worse is that Trumps second fiscal year is projected to increase deficits to over 1 Trillion - in a rising interest rate environment.

 

Now you are just perpetuating a falsehood by taking my words out of context and building a strawman around your falsehood.

 

Then we have no dispute other then I think we have at least gotten something from Trump we never did under Mr Obatard, RESULTS!

It's one thing to stack up debt and get nothing in return but fictitious claims and quite another to spend money and see obvious results..

Other then that point we are good!

 

Nope that is a Leftist trait

If I misunderstood your wording I apologies, but I certainly blame him for things he didn't do!

 

Two of the biggest elements of the 2009 deficit were loss of revenue due to the RECESSION and tax cuts