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Budget Deficit shrinks by $200 billion

Posted: Oct 13, 2012

It starts with the figures released in 2009, when the deficit reached a record high of $1.4 trillion. Why is the column in red? Because, thanks to fiscal years, Obama inherited a deficit of nearly $1.3 trillion from Bush/Cheney the moment he took the oath of office.

This year, however, according to the official data published by the Treasury Department, the deficit is 1.089 trillion.

A big number, but going down--no thanks to those helpful Republicans in Congress.

;

Yea! Good news! nm - VTMT

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That's awesome!.....sm - Big Bird for Congress

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Can they bring graphs to the debates?...LOL...I have a few Obama needs to take with him :D

Note that it has decreased through Obama's presidency, - with cuts in 2010 and 2011 offsetting the costs

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of implementing Obamacare. Otherwise, it would have dropped farther in 2011 instead of staying steady.

Way to go, America! We're not in a good place yet, but this is just more proof that we can be again.

A major problem here - Reality

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Deficits decreased under Obama; but also decreased under Bush.

Here is year to year since 2004

(In inflation adjusted dollar)
2004 501.21 billion
2005 373.24 billion
2006 282.14 billion
2007 178.1 billion
2008 488.82 billion
2009 1509.62 billion
2010 1360.67 billion
2011 1324.16 billion
2012 1100 billion

http://www.davemanuel.com/history-of-deficits-and-surpluses-in-the-united-states.php

There are multiple other web sites to check. Again, you will note that the deficit decreased under Bush. You will also note it surged under Obama.

There may be positives to the Obama presidency; however, I don’t think proclaiming shrinking deficits under his presidency is one, except for economic halfwits.

The budget deficit is less than the Bush's last day in office - Real Reality

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No body said it would be easy correcting the mess the Republicans made.

Two thoughts. sm - VTMT

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1. Bush was president from 2001 and inherited a surplus.

2. President Bush's wars were never added to the deficit until after the Obama administration audited the books, hence the huge deficit that peaked in 2009.

Too bad most of the country does not - realize this or SM

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if they do will not take it into consideration. The lies that have been out there since Obama took office are never ending. I think the saying "If you say it often enough, people will believe it" holds true, especially for Fox watchers.

All Obama does is promise us things he cannot do - ..then lies saying he fixed them !! enough!.nm

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nm

My thoughts, too - backwards typist

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As usual, you are forgetting a few things of importance:
1. Dems also voted to go to war in Iraq and Afghanistan and they saw no problem with not funding it at the time or else they wouldn't have gone along with it.

2. Dems owned Congress the last 2 years of Bush's presidency. They still own the Senate and 148 voted to keep funding the wars. Why didn't they ALL vote Nay when it came up for vote?

3. Don't forget, when each war funding bill came up, not ALL the money of that bill went just for funding the war. There were earmarks/amendments added to fund other items.

4. If you invest spending so it grows the economy instead of putting us more in debt, that's a good thing. If you borrow to spend just for the sake of spending, it's not a good thing. This is what has been happening.

5. Bush inherited a mild recession, I think was in 2001-2003.Even the spending on two wars and the Medicare drug program wasn’t as bad as the effects that happened mostly under Obama but after the dems took control, they went wild with their spending instead of concentrating on revenue (by helping businesses instead of Wall Street).

6. Besides interest being paid to countries that we borrowed money to fund the stimulus, Obamacare is going to add MORE debt to the deficit, no matter what anyone says. Why? Because all the taxes added to supplies, equipment, drugs, and the lowering of payments to doctors and hospitals will only up the cost of all items to us.

7. Never, ever do the dems blame the debt/deficit on Obama even though he added $6 trillion in THREE years while Bush only added $5 trillion in EIGHT years; i.e., during Bush, the cost of the wars was $853 billion from 2001 to 2009. Even if they weren't in the budget, they were only a "drop in the bucket" compared to Obama's stimulus, Cash for Clunkers, and other programs that failed.

Here's a link where you can try to absorb the difference:

http://www.humanevents.com/2012/09/22/bush-tax-cuts-vs-obama-stimulus/

BTW, there is a difference between debt and deficit. The deficit is the difference between the money Government takes in and what the Government spends year. Receipts include the money the Government takes in from income, excise and social insurance taxes as well as fees and other income. Outlays include ALL Federal spending including social security and Medicare benefits along with all other spending ranging from medical research to interest payments on the debt.

Now, if you want, you can look at the following chart (in the "Link" bar) to see debt vs. GDP vs. Interest. It's interesting.

Right. For some reason, Democrats are ignoring - reality to the detriment of the nation. nm

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nm

Rachel Maddow and Steve Benen make - such pretty graphs

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Red Kool-Aid or Boo-Berry Kool-Aid
for All!!!!

Stimulus spending is like giving gas to a stalling car. Romney - and the GOP opposed stimulus spending--both

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ideologically in some cases and to make sure Obama didn't succeed in saving the economy in others.

Obama did what virtually all mainstream economists believed HAD to be done--what has worked before many times in many places--he poured money into the economy to stimulate it and get it going again. He would have invested more, and needed to--economists here and around the planet were very worried it wasn't going to be enough--but with GOP opposition this was all he could do.

But it's WORKING. Not as fast as if the GOP had put our country's wellbeing ahead of its determination to regain the White House, but it is working. Our economy has been improving slowly but continually ever since. Because of Obama administration action and despite GOP intractability.

Please note, we may face yet another crash. Europe isn't doing so well, and if it crashes we will go with it. May I suggest you vote for what works and say a big fat NO to people who were either too inflexible and misguided to apply a proven fix or so eager to regain power that they wanted the national great recession to continue right up to this election.

I disagree for the following reasons; - backwards typist

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You stated, "Please note, we may face yet another crash. Europe isn't doing so well, and if it crashes we will go with it. May I suggest you vote for what works and say a big fat NO to people who were either too inflexible and misguided to apply a proven fix or so eager to regain power that they wanted the national great recession to continue right up to this election."

Europe has done more in stimulus plans than we did, which didn't help. Austerity measures are now going in place but people are rioting. People over there don't want to give up their short work weeks, large vacation weeks, or low retirement ages.

If we pump more money into the debt/deficit we have now on the order of another stimulus will only make it worse for our country.

We have to CONTROL SPENDING; i.e., stop the frivolous spending NOW and reform Medicare, Medicaid, and Social Security. Let's take a look at how many people are on M&M and see why. Let's raise the SS age as suggested. It won't kill anyone since the average age of an American is now around 80 and a lot of Americans are now living past 100. What will it be like when the 40-50's-somethings are ready to retire? By allowing the retirement age to remain at 66, it won't be unusual for them to be collecting SS for 20,30,40 years longer than ever expected when this program was started. SS will definitely go broke by then if that happens.

We also need to take a look at some of the programs that both the federal government and the states provide. There are a lot of overlapping programs. Why not get rid of some? Do we really need 100 programs to accomplish what 5 might do? Oh, but there you'd be raising the unemployment rate. Now there's a problem, isn't it?

We need to get our people back to work so they can start paying into the system, and not take money out of the system. A few thousand jobs a month will not make up the revenue needed to keep us from defaulting or crashing. What if China and the other countries want their money back immediately? We will crash...BTW, we not only borrowed from China. Some of our loans came from the very countries that are in danger now. Spain, France, and the United Kingdom are three that I can remember off the top of my head. What if just those 3 countries want their money back NOW? What will we do? Borrow more from China?

Any suggestions on how to add more jobs? Bringing jobs home would be a big help and I think some way of allowing tax credits for that would be a big help.

Obamacare forcing companies to give healthcare to their employees doesn't help. What can be done there?

As for this election, I'd rather a businessman run the country instead of a community organizer. Big difference in how to make and keep money between those 2 occupations.

Are you sure you don't disagree by definition? - I did praise democractic action after all. NM

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And don't forget: - sm

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As soon as the Republicans remove a bunch of regulations, their new Social Security plan will be to INVEST in the stock market to save for their old age. If that had gone into effect a few years ago, these people would have gone broke, and there wouldn't be any regulations in place any more that could help the average American whose money was stolen, gambled away by Wall Street.

Yeah, Ryan, that's a winning idea! (NOT!)

Not Republicans INVESTING in the stock market for SS, - Truthhurts

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they would LEAVE IT UP TO THE PEOPLE. The people, themselves, can keep their SS the way it is OR take a PORTION of it and do with what they want. Do you understand the meaning of "keep it the way it is" or "take a PORTION of it"?

Why is it some people on this board REFUSE to understand the ideas put forth from the republican side and just keep spewing the lies the democratic side?

Democrats have NOTHING to back themselves up. No good ideas, just the same old spending policies. You can't spend yourself out of debt. If you don't know that, you never will understand.

There are so many "untruths" that the democrats shove down people's throats, why don't they just record their speeches and/or answers to questions and just push the 'play' button when it comes time? How can you blindly follow one party without even giving the other party a chance-reading and researching and digesting the plans of both? But, there are some who think their party is nothing short of the only one that can save this country, as in Messiah, The Anointed One, or any other verbiage those in the party use to describe their hero.

And a lot of retirees would have been broken in - the last crash. NM

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