Vote Republican To Slash The Deficit

[Pig Benis]

[Su lc l De]

You do realize that the majority of the people on these forums do not care about politics/aren't old enough to vote, you silly, silly f2p warrior.

[Big Alex 67]

he thinks obama is gonna lose the upcoming election

[Joshi]

 

Politics SMH.

 

[Pig Benis]

he thinks obama is gonna lose the upcoming election

http://www.270towin.com/

Forecast says 7% chance of that happening.

[Nippon]

You do realize that the raise in budget decifit can for the most part be attributed to your last republican president?

 

Good read:

http://www.politifact.com/truth-o-meter/st...a-has-lowest-s/

[Coz]

Can you add a section for Obama spending and how much his healthcare bill will cost?

 

Or better yet add a section for success Obama has had. It will consist of nothing positive or helpful. He won the race vote, simple as that dude is terrible.

[Coz]

[Coz]

Here is another...Man Obama is looking real good right????

 

http://www.cbsnews.com/8301-503544_162-574...han-under-bush/

[Nippon]

Can you add a section for Obama spending and how much his healthcare bill will cost?

 

I take it that this is directed to me.

 

It is hard to say, but the most recent estimate from CBO is that the 2010 healthcare reform will cost a net total of $1,042 billion over the 2012–2021 period. [1]

However:

 

The other provisions affecting direct spending were estimated to reduce net federal

outlays (primarily for Medicare) by $732 billion over the 2012–2021 period.

 

The provisions affecting federal revenues (apart from those related to insurance

coverage) were estimated to increase revenues by $520 billion over the 2012–2021

period.

 

Altogether, those provisions of PPACA and the Reconciliation Act were estimated to

increase direct spending by $604 billion and to increase revenues by $813 billion over

the 2012–2021 period.

 

That is to say that for the 2012-2021 period the healthcare reform will reduce decifit by an estimated $119 billion.

 

What about other spending? ARRA and 2010 Tax Act combine to a net cost of about $900 billion.

 

Now, for the sake of comparison, let's look at CBO estimates for some major costs in the fiscal period 2001-2011

 

n June 2012, CBO summarized the cause of change between its January 2001 estimate of a $5.6 trillion cumulative surplus between 2002 and 2011 and the actual $6.1 trillion cumulative deficit that occurred, an unfavorable "turnaround" or debt increase of $11.7 trillion. Tax cuts and slower-than-expected growth reduced revenues by $6.1 trillion and spending was $5.6 trillion higher. Of this total, the CBO attributes 72% to legislated tax cuts and spending increases and 27% to economic and technical factors. Of the latter, 56% occurred from 2009 to 2011.[63][64]

 

The difference between the projected and actual debt in 2011 can be largely attributed to:

 

$3.5 trillion – Economic changes (including lower than expected tax revenues and higher safety net spending due to recession)

$1.6 trillion – Bush Tax Cuts (EGTRRA and JGTRRA), primarily tax cuts but also some smaller spending increases

$1.5 trillion - Increased non-defense discretionary spending

$1.4 trillion – Wars in Afghanistan and Iraq

$1.4 trillion - Incremental interest due to higher debt balances

$0.9 trillion - Obama stimulus and tax cuts (ARRA and Tax Act of 2010)

 

Of course the reckless spending havoc that president Bush went on during his two periods in power is perhaps not a fair comparison, but to say that simply having a republican in power would magically decrease the decifit is just nonsense when you look at the historical context.

 

Or better yet add a section for success Obama has had. It will consist of nothing positive or helpful. He won the race vote, simple as that dude is terrible.

 

I don't want to debate that. I find many faults in the actions of president Obama during his 3 and a half years as a president. However, loose fiscal policy certainly isn't one, not when compared to any republican president since and including Reagan.

 

[1] http://www.cbo.gov/sites/default/files/cbo...legislation.pdf

 

 

 

ps. the picture you posted is an estimate from 2009

pps. the link you posted contains so many errors I don't know where to begin...

first of all, nominal debt alone tells nothing, you have to look at the increases and decreases in spending and revenues

secondly, while Obama started in office in January of 2009, most of the increase in spending in 2009 was due to laws passed by the Bush administration. Take a look at the link I posted earlier.

ppps. soz PBK0 I failed to detect the irony

[Brenda]

lel