Budget deficit/Econ growth in plain speak

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. ...

All these articles are quite long but are worth reading every word. Remember, nothing is written in stone. All can be tweaked. I found some of the ideas very good, and some 'not so good.' All in all, it's good that there's plenty of input happening and hopefully, our government will READ (if that's possible) them and debate/compromise on them. The first one is from the Brookings Institute which gives quite a few plans from various Senior Fellows: http://www.brookings.e ...

I find this hilarious (for want of a better word). It was a twitter that flashed by and I was curious so went to the site. The whole article is in PDF here: http://taxprof.typepad.com/files/tax-notes-today_-2010-tnt-1...pdf Deficit Reduction Commission Seeks Increase in its Budget Eric Kroh, Fiscal Commission Bemoans Lack of Resources, 2010 TNT 106-2 (June 3, 2010): Saddled with a tight deadline and great expectations, members of President Obama's deficit reducti ...

http://money.cnn.com/2010/07/30/news/economy/gdp/index.htm ...

"What’s now clear is that the Obama administration policies have outperformed the Reagan administration policies for job creation and unemployment reduction. Even though Reagan had the benefit of a growing Boomer class to ignite economic growth, while Obama has been forced to deal with a retiring workforce developing special needs. During the eight years preceding Obama there was a net reduction in jobs in America. We now are rapidly moving toward higher, sustainable jobs growth." ...

I would love to see Republicans start "caring" about women, Hispanics and gays, but how are they going to get that across while voting against these groups? For example, how can the Republican party possibly get more gay votes when they continually shoot down gay marriage? From the project: The Republican Party needs to stop talking to itself. We have become expert in how to provide ideological reinforcement to like-minded people, but devastatingly we have lost the abilit ...

We know, for example, that in 2014 – the first full year of ACA implementation – the job market in the United States had its best year since the late 1990s. Indeed, hiring in 2014 was so strong, it surpassed literally any single year in either Bush presidency, and even many of the years in the Clinton era. Postscript: I’d be remiss if I neglected to note that new jobs are being created in the health-care industry at an extraordinary pace. The industry added more ...

in history who did not deliver a single year of 3.0%+ economic growth. In February 2011 (Fake News) Time Magazine Implied that Obama was like Reagan. This couldn’t have been further from the truth, especially when considering economic growth. Ronald Reagan brought forth an annual real GDP growth of 3.5%. Barack Obama will be lucky to average an annual 1.50% GDP growth rate during his two terms in office. The rate of real economic growth is the single greatest determinate of both America� ...

I don't know who wrote the below blog but the people behind Fixthedebt.org are listed on the link below. On the right side is where you can sign the petition. They have collected 311,203 signatures out of 400,000. So … how do we reduce the debt, encourage growth, and protect the most vulnerable better than would be achieved by going over the fiscal cliff? This is what Fix the Debt has aimed to achieve since day 1. Some would have you believe that F ...

grew at the fastest rate in eight years in 2015, driven by the coverage expansion in President Barack Obama’s law and by costly prescription drugs, the government said Friday. The growth of 5.8 percent in 2015 boosted total health care spending to $3.2 trillion. That’s an average of $9,990 per person, although the vast share of that money is spent caring for the sickest patients.... ...

state of U.S. competitiveness says political gridlock is getting in the way of strong economic growth. What it fails to mention is that Democrats are the ones blocking the pro-growth proposals the report advocates. The latest HBS report paints a bleak but accurate picture of the current economy -- lackluster economic and productivity growth, an incredibly slow rate of job creation... ...no meaningful progress on the critical policy steps to restore U.S. competitiveness... ...Don' ...

From Forbes magazine 20 hours ago: English: Official photo cropped of United States Senator and Minority Leader Mitch McConnell (R-KY) (Photo credit: Wikipedia) What do you do when the Congressional Research Service, the completely non-partisan arm of the Library of Congress that has been advising Congress—and only Congress—on matters of policy and law for nearly a century, produces a research study that finds absolutely no correlation between the top ta ...

Income Inequality May Take Toll on Growth By ANNIE LOWREY WASHINGTON — Income inequality has soared to the highest levels since the Great Depression, and the recession has done little to reverse the trend, with the top 1 percent of earners taking 93 percent of the income gains in the first full year of the recovery. The yawning gap between the haves and the have-nots — and the political questions that gap has raised about the plight of the middle ...

can anyone explain why the deficit/debt got so much worse while obama was president? ...

Health-Law Repeal Would Deepen Deficit, CBO Estimates January 06, 2011, 10:33 AM EST By Anna Edney Jan. 6 (Bloomberg) -- Repealing the health-care overhaul law would deepen federal budget deficit by $145 billion from 2012 to 2019, the Congressional Budget Office estimates. Individual insurance premiums would be “somewhat lower” than under current law, while coverage obtained through large employers would be “slightly” higher under an overhaul repeal, the CBO, the ...

Last month, a bipartisan commission went down in flames in the Senate after 7 republicans who sponsored the bill voted against it. Now, Obama is putting together a bipartisan commission and the republicans are still complaining it's not good enough. Obama is telling them to come to the table and present their ideas. They are saying no. And then accusing him of not listening. The problem seems to be that the republicans expect Obama to follow their platform (tax breaks for big busines ...

From Robert Reich-Christian Science Monitor The economics are clear: First, the top 1 percent spends a much smaller proportion of their income than everyone else, so there’s very little economic stimulus at these lofty heights. On the other hand, giving the top 1 percent a two-year extension would cost the Treasury $130 billion over two years, thereby blowing a giant hole in efforts to get the deficit under control. Alternatively, $130 billion would be enough to rehire every teach ...

(The true suggestions will be coming out on Dec. 1.) U.S. Deficit Commission Recommends Changes to Social Security A draft proposal by the deficit commission suggests curbing Social Security benefits and raising the retirement ageto 68. It is currently 67 years for retirees to receive full benefits. The panel leaders also propose reducing the annual cost-of-living increases in Social Security. The increase to age 68 would be implemented by 2050 and then would increase again to 69 by 2075.&n ...

The first of the series this week. http://www.msnbc.msn.com/id/31510813/#37983994 ...

Here is a graph depicting baseline deficit as affected by the economic downturn with comparisons made between the percentages of projected impacts (2009 to 2019) of the wars in Iraq and Afghanistan, the Bush tax cuts, Obama's recovery measures, TARP, Fannie and Freddie. Can you guess which one has the broadest and most far reaching damaging impact? Fascinating stuff. http://www.cbpp.org/cms/index.cfm?fa=view&id=3036 ...

1. The deficit has grown mostly because of the recession. (The deficit has ballooned not because of specific spending measures, but because of the recession. The deficit more than doubled between 2008 and 2009 as the economy was in free fall and laid-off workers paid less in taxes and needed more benefits. The deficit then shrank in 2010 and 2011.) 2. The stimulus cost much less than Bush's wars and tax cuts. (Republicans frequently have blamed the $787 billio ...

As the government closes the books Sunday with a $1.1 trillion deficit for the year, which required borrowing 32 cents for every dollar it spent, budget analysts have little confidence in either presidential candidate's plan to address the accumulating debt, now at about $16 trillion. The Republican nominee promises to balance the budget in eight years to 10 years, but he also offers a mix of budgetary contradictions: higher Pentagon spending, restoring cuts that Democrats made in Medicare ...

Was just talking with my friend tonight. I have known as she has also for years that her 1st grader was not 100% "right," something was off with him. Tonight she tells me someone is finally maybe listening to her about him. He is in his own little world. I do not think autism because of the fact he will halfway interact "sometimes," does not reject a hug or kiss and maybe I am wrong but I thought autistic children were like that. I could be wrong. His teacher is every day trying to tell the moth ...

Guess it's back to the drawing board. It's true that a commission that began with only limited authority failed in its most significant goal, which was to win at least 14 votes among the 18 members. Fourteen votes were needed to send the package to Congress as an official recommendation and force a vote on the proposals. It's also true that prominent members of Congress on the committee took a walk on the commission report. That group included Rep. Paul Ryan (R-Wisc.), who will ...

I have a feeling these suggestions won't go very far....especially the gas tax. If it isn't the people against some of the cuts, it will definitely be the federal employees against a wage freeze. I think the Congress will also be against their pet earmarks. In my opinion, I think the federal employees could and should allow a wage freeze. The rest of America had to swallow it, why shouldn't they? As for earmarks, I think only the frivolous ones, like the ones stu ...

The Congressional Budget Office has released its estimate for the fiscal year 2012, just ended on September 30 and the news is good. The federal deficit was just under $1.1 trillion, compared to just under $1.3 trillion at the end of fiscal year 2011, a reduction of $207 billion. As a percentage of the GDP, the 2012 deficit dropped to 7.0 per cent, down from 8.7 percent in 2011 and 9.0 percent in 2010. The actual deficit numbers will be released later this month by the Treasury DepartmentThe Sep ...

A Progressive Deficit Reduction Plan Repeal all of the 2001 and 2003 Bush tax breaks for the top two percent. Repealing the 2001 and 2003 tax breaks for the top two percent would reduce the deficit by about $1 trillion over the next decade. After President Clinton increased taxes on the top two percent, the economy added over 22 million jobs. After President Bush reduced taxes for the rich, the economy lost over 600,000 private sector jobs. Create an emergency de ...

Federal Reserve Chairman Ben S. Bernanke warned Wednesday that Americans may have to accept higher taxes or changes in cherished entitlements such as Medicare and Social Security if the nation is to avoid staggering budget deficits that threaten to choke off economic growth. "These choices are difficult, and it always seems easier to put them off -- until the day they cannot be put off anymore," Bernanke said in a speech. "But unless we as a nation demonstrate a strong commitment to fiscal re ...

Budget deficit/Econ growth in plain speak

Real Smart Kid. Hope he can wake others up! - Truthhurts

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