Obama and his new budget: Debt will surpass total US Economy

Surprised this hasn't surfaced yet on here:

Federal deficit on track for a record this fiscal year - Washington Times (http://www.washingtontimes.com/news/2011/feb/14/debt-now-equals-total-us-economy/)

White House Expects Federal Deficit to Spike to $1.65 Trillion - WSJ.com (http://online.wsj.com/article/SB10001424052748703361904576143253522341850.html?m od=WSJ_hp_LEFTTopStories)

Geithner Quietly Tells Obama Debt-to-GDP Cost Poised to Increase to Recor - Bloomberg (http://www.bloomberg.com/news/2011-02-14/geithner-quietly-tells-obama-debt-to-gnp-cost-poised-to-increase-to-record.html)

NationalJournal.com - What Could You Do With $3.73 Trillion? - Monday, February 14, 2011 (http://www.nationaljournal.com/what-could-you-do-with-3-73-trillion--20110214?page=1)

Obama's FY2012 Budget:<br> Taxes, Taxes, and More Taxes (http://www.atr.org/obamas-fy-budgetbr-taxes-more-a5844#)

GM you have any threads started the 8 years W was spending like there was no tomorrow?

LOL....another who cares what the Chosen One does wrong because Bush did it too.

http://www.chartingstocks.net/wp-content/uploads/2010/05/federal_deficit_chart.png

Amazing that we have pulled out of other recessions without the government throwing Billions and billions at it. How did we ever manage as a country to survive?

I figure this is a good place to put a reminder that all spending bills must originate in the House. The President's budget (and every President's budget) literally isn't worth the paper it's printed on.

I think that is an important fact and is very important to see that the budget was best brought into balance from 94-2000, when the Republicans held the House and Clinton was in the office. Hopefully this Republican house, and Democratic president can work together to achieve the same type of success. Unfortunately, I think Gingrich/Clinton was to govt as Tagliabue/Upshaw was to the NFL, and that Boehner/Obama will be like Goodell/Smith are to the current NFL.

Hopefully, everyone in politics will realize that is an unsustainable debt model.

GM you have any threads started the 8 years W was spending like there was no tomorrow?

I'm not sure why that's relevant. We're in a hole and we need to dig out.

http://www.chartingstocks.net/wp-content/uploads/2010/05/federal_deficit_chart.png

Amazing that we have pulled out of other recessions without the government throwing Billions and billions at it. How did we ever manage as a country to survive?


LOL...and this chart is meaningful how? I mean, it doesn't even answer your own question which implies there's a huge disconnect in your thinking :doh:

This is a more appropriate chart because a billion in 1940 is not the same as a billion in 2011...I'm confidant you know this and are not as silly as your post.

http://www.usgovernmentspending.com/usgs_line.php?title=US%20Federal%20Debt%20As%20Per cent%20Of%20GDP&year=1792_2010&sname=US&units=p&bar=0&stack=1&size=m&col=c&spending0=35.10_32.14_25.30_21.25_20.43_20.01_19.3 2_17.82_17.29_16.28_17.94_16.05_16.31_14.70_12.41_ 11.93_10.19_8.39_7.60_6.32_5.80_5.83_7.62_10.85_15 .72_16.25_14.17_13.27_13.00_12.33_11.69_12.12_12.0 4_10.34_9.42_8.13_7.58_6.35_4.81_3.76_2.17_0.61_0. 39_0.00_0.00_0.02_0.21_0.63_0.23_0.32_0.85_2.11_1. 39_0.87_0.76_1.62_1.96_2.63_2.48_2.53_2.18_1.82_1. 15_0.90_0.80_0.69_1.11_1.34_1.49_1.97_9.05_14.70_1 9.19_27.13_30.85_32.11_32.05_32.97_32.05_31.00_27. 38_25.54_26.55_27.36_26.24_25.88_26.92_25.10_20.39 _17.84_15.72_15.32_15.51_16.07_14.55_12.65_12.18_1 1.65_10.28_10.04_9.69_10.04_11.58_10.74_11.42_11.2 2_9.93_10.22_10.37_9.61_8.96_8.50_8.81_7.90_7.54_7 .25_8.73_8.20_7.94_8.06_7.67_7.46_7.98_7.90_7.28_9 .58_19.25_34.98_29.36_32.58_31.29_26.17_24.45_22.6 4_20.27_19.38_18.07_16.34_17.75_21.96_33.20_39.96_ 40.99_39.16_40.31_39.64_43.16_43.86_42.37_38.64_44 .73_68.83_91.45_116.00_121.25_105.81_93.75_94.60_8 7.63_75.22_72.32_70.15_71.31_66.16_62.36_58.67_59. 15_56.20_54.39_53.04_50.91_49.51_46.97_44.12_40.61 _39.19_38.20_35.93_35.72_35.33_34.51_33.14_31.68_3 2.56_34.00_34.42_33.64_32.26_32.56_31.91_35.10_38. 96_40.00_43.23_47.65_49.62_51.02_52.12_55.74_61.17 _64.09_66.17_66.23_67.08_66.66_64.97_62.84_60.47_5 7.02_56.46_58.52_60.88_62.18_62.77_63.49_63.99_69. 15_83.29_93.25&legend=&source=a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a

Obama is a dummy...he is spending money needlessly by feeding wars beasts. This country could use some belt tightening but with a congress whose "success" predicated on getting the bacon home there is no hope.

We're not going to solve these budget issues by maintaining the current tax rates and spending nor will we by cutting taxes and spending.

LOL...and this chart is meaningful how? I mean, it doesn't even answer your own question which implies there's a huge disconnect in your thinking :doh:

This is a more appropriate chart because a billion in 1940 is not the same as a billion in 2011...I'm confidant you know this and are not as silly as your post.

http://www.usgovernmentspending.com/usgs_line.php?title=US%20Federal%20Debt%20As%20Per cent%20Of%20GDP&year=1792_2010&sname=US&units=p&bar=0&stack=1&size=m&col=c&spending0=35.10_32.14_25.30_21.25_20.43_20.01_19.3 2_17.82_17.29_16.28_17.94_16.05_16.31_14.70_12.41_ 11.93_10.19_8.39_7.60_6.32_5.80_5.83_7.62_10.85_15 .72_16.25_14.17_13.27_13.00_12.33_11.69_12.12_12.0 4_10.34_9.42_8.13_7.58_6.35_4.81_3.76_2.17_0.61_0. 39_0.00_0.00_0.02_0.21_0.63_0.23_0.32_0.85_2.11_1. 39_0.87_0.76_1.62_1.96_2.63_2.48_2.53_2.18_1.82_1. 15_0.90_0.80_0.69_1.11_1.34_1.49_1.97_9.05_14.70_1 9.19_27.13_30.85_32.11_32.05_32.97_32.05_31.00_27. 38_25.54_26.55_27.36_26.24_25.88_26.92_25.10_20.39 _17.84_15.72_15.32_15.51_16.07_14.55_12.65_12.18_1 1.65_10.28_10.04_9.69_10.04_11.58_10.74_11.42_11.2 2_9.93_10.22_10.37_9.61_8.96_8.50_8.81_7.90_7.54_7 .25_8.73_8.20_7.94_8.06_7.67_7.46_7.98_7.90_7.28_9 .58_19.25_34.98_29.36_32.58_31.29_26.17_24.45_22.6 4_20.27_19.38_18.07_16.34_17.75_21.96_33.20_39.96_ 40.99_39.16_40.31_39.64_43.16_43.86_42.37_38.64_44 .73_68.83_91.45_116.00_121.25_105.81_93.75_94.60_8 7.63_75.22_72.32_70.15_71.31_66.16_62.36_58.67_59. 15_56.20_54.39_53.04_50.91_49.51_46.97_44.12_40.61 _39.19_38.20_35.93_35.72_35.33_34.51_33.14_31.68_3 2.56_34.00_34.42_33.64_32.26_32.56_31.91_35.10_38. 96_40.00_43.23_47.65_49.62_51.02_52.12_55.74_61.17 _64.09_66.17_66.23_67.08_66.66_64.97_62.84_60.47_5 7.02_56.46_58.52_60.88_62.18_62.77_63.49_63.99_69. 15_83.29_93.25&legend=&source=a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a _a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a

The chart I posted had the recessions and the deficits graphed against each other. I liked that reflection that the Government rarely has spent us out of a recession, which seems to be President Obama's basic premise on many of his speeches (I am sure many Republicans have said similar things since 2000).

The question I asked was simply a sarcasm aimed towards the trillions of dollars we have spent that were supposed bring us out of recession, along with a heavy dose of my cynicism towards big government.


Your chart tells a very different, and more bleak, picture, IF De Tocqueville is to be believed.
The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money.

by your chart, up until the 1940's the Federal debt as a pct of GDP was normally well under 50%. Since the mid 40's our debt even at it's lowest points were higher,or close to, then the highest debt the period from 1800 to 1930. And as we add a trillion plus per year, it would look to be that we are going to hover well over 100% of GDP for the next several years.

What do you think earmarks are, other than "bribing the public with public money"?

Obama is a dummy...he is spending money needlessly by feeding wars beasts. This country could use some belt tightening but with a congress whose "success" predicated on getting the bacon home there is no hope.

We're not going to solve these budget issues by maintaining the current tax rates and spending nor will we by cutting taxes and spending.

Whoa, Lord O might not like you talking like dat!

So in your solution we must raise taxes and do what with spending?