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2013 Shaping Up to be the 5th Straight Year with a Trillion Dollar Deficit
2 years ago  ::  Jan 12, 2013 - 9:36AM #1
Bronxbob
Posts: 3,239

It appears that President Obama is right on track for having the dubious distinction of being the only president to oversee 5 straight consecutive years of deficits that exceed $1 trillion. 2013, though in its infancy, appears to be heading towards the $1 trillion mark rapidly.



“The federal government ran up a $293 billion deficit in the first quarter of fiscal 2013, which ended Dec. 31, the nonpartisan Congressional Budget Office estimated Tuesday. The government’s fiscal year starts on Oct. 1st.


At this pace, the deficit would be on pace to top $1 trillion for the fifth-straight year in 2013. All the trillion-dollar deficits have taken place under President Obama.


By the White House’s own estimate, the New Year’s Eve tax deal with Congress will only reduce the deficit by $4 billion this year, once increased spending such as on unemployment benefits is taken into account.”



While Americans struggle to make ends meet and food stamp participation is at an all-time high, the federal government labors under no such hard times as it continues to spend more money than it brings in.


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2 years ago  ::  Jan 12, 2013 - 2:11PM #2
ArtVandelay
Posts: 16,375

guess what folks!?!?  got my first 2013 paycheck, yes... it's less!!!  thanks Barry!!!!  but I'm sure guys like davey don't give a hoot, their gubmint checks are unchanged...  

2 years ago  ::  Jan 12, 2013 - 2:41PM #3
GlenninVirginia
Posts: 6,399

Worry not, Obumbler's two daughters, Fubar I and Fubar II, will solve the deficit problem sometime in somebody's lifetime.  And Chelsea Clinton Whosis will "report" all the accurate details on it.

2 years ago  ::  Jan 12, 2013 - 6:05PM #4
61in61
Posts: 19,119

Jan 12, 2013 -- 2:11PM, ArtVandelay wrote:


guess what folks!?!?  got my first 2013 paycheck, yes... it's less!!!  thanks Barry!!!!  but I'm sure guys like davey don't give a hoot, their gubmint checks are unchanged...  




First you whined about the Obama tax cuts reducing revenue and increasing the debt. Now you are whining about your taxes going up to help reduce the debt. Meanwhile you didn't complain about the Bush tax cuts reducing revenue and increasing the debt. Just what do you want??

2 years ago  ::  Jan 13, 2013 - 2:13PM #5
ArtVandelay
Posts: 16,375

Jan 12, 2013 -- 6:05PM, 61in61 wrote:


Jan 12, 2013 -- 2:11PM, ArtVandelay wrote:


guess what folks!?!?  got my first 2013 paycheck, yes... it's less!!!  thanks Barry!!!!  but I'm sure guys like davey don't give a hoot, their gubmint checks are unchanged...  




First you whined about the Obama tax cuts reducing revenue and increasing the debt. Now you are whining about your taxes going up to help reduce the debt. Meanwhile you didn't complain about the Bush tax cuts reducing revenue and increasing the debt. Just what do you want??




reduce the debt????  are you smoking crack????  where the f is anyone on your side saying anything about additional revenue going towrds reducing the debt????  all Obummer is talking about is more spending, educate yourself on this please....

2 years ago  ::  Jan 13, 2013 - 5:31PM #6
61in61
Posts: 19,119

Jan 13, 2013 -- 2:13PM, ArtVandelay wrote:


Jan 12, 2013 -- 6:05PM, 61in61 wrote:


Jan 12, 2013 -- 2:11PM, ArtVandelay wrote:


guess what folks!?!?  got my first 2013 paycheck, yes... it's less!!!  thanks Barry!!!!  but I'm sure guys like davey don't give a hoot, their gubmint checks are unchanged...  




First you whined about the Obama tax cuts reducing revenue and increasing the debt. Now you are whining about your taxes going up to help reduce the debt. Meanwhile you didn't complain about the Bush tax cuts reducing revenue and increasing the debt. Just what do you want??




reduce the debt????  are you smoking crack????  where the f is anyone on your side saying anything about additional revenue going towrds reducing the debt????  all Obummer is talking about is more spending, educate yourself on this please....




Well, its simple. All spending bills have to originate in the H of R. The last I knew the House was controlled by the Republicans. How is Obama going to spend any sigificant amount of money if he can't get a bill through the House??


The problem with the rising debt has been a loss of revenue, not increased spending.


The Bush budget of 2009 originally asked for $3.1Trillion. The actual amount spent was $3.5Trillion. About half of that difference was attributable to new programs initiated by Obama. The other half was cost overruns from Bush programs. The 2010 budget called for $3.5Trillion in spending. the same amout of actual spending in the 2009 budget.  The actual expenditures in 2010 was $3.7Trillion, again, about $200Billion over budget.


The 2011 budget as enacted was $3.6 Trillion, a reduction in spending from the previous year.


The 2012 budget as enacted was $3.8 Trillion, up slightly from 2011.


When looking at those numbers I fail to see how you can classify Obama as a "big spender."  The 2012 budget as enacted was only $500B more than Bush's actual expenditures. A good portion of the increase involves automatic COLA adjustements which automatically kick in.

2 years ago  ::  Jan 13, 2013 - 5:38PM #7
ArtVandelay
Posts: 16,375

Jan 13, 2013 -- 5:31PM, 61in61 wrote:


Jan 13, 2013 -- 2:13PM, ArtVandelay wrote:


Jan 12, 2013 -- 6:05PM, 61in61 wrote:


Jan 12, 2013 -- 2:11PM, ArtVandelay wrote:


guess what folks!?!?  got my first 2013 paycheck, yes... it's less!!!  thanks Barry!!!!  but I'm sure guys like davey don't give a hoot, their gubmint checks are unchanged...  




First you whined about the Obama tax cuts reducing revenue and increasing the debt. Now you are whining about your taxes going up to help reduce the debt. Meanwhile you didn't complain about the Bush tax cuts reducing revenue and increasing the debt. Just what do you want??




reduce the debt????  are you smoking crack????  where the f is anyone on your side saying anything about additional revenue going towrds reducing the debt????  all Obummer is talking about is more spending, educate yourself on this please....




Well, its simple. All spending bills have to originate in the H of R. The last I knew the House was controlled by the Republicans. How is Obama going to spend any sigificant amount of money if he can't get a bill through the House??


The problem with the rising debt has been a loss of revenue, not increased spending.


The Bush budget of 2009 originally asked for $3.1Trillion. The actual amount spent was $3.5Trillion. About half of that difference was attributable to new programs initiated by Obama. The other half was cost overruns from Bush programs. The 2010 budget called for $3.5Trillion in spending. the same amout of actual spending in the 2009 budget.  The actual expenditures in 2010 was $3.7Trillion, again, about $200Billion over budget.


The 2011 budget as enacted was $3.6 Trillion, a reduction in spending from the previous year.


The 2012 budget as enacted was $3.8 Trillion, up slightly from 2011.


When looking at those numbers I fail to see how you can classify Obama as a "big spender."  The 2012 budget as enacted was only $500B more than Bush's actual expenditures. A good portion of the increase involves automatic COLA adjustements which automatically kick in.




ok, I forgot....  for you it's just R vs D....  nevermind....

2 years ago  ::  Jan 13, 2013 - 6:08PM #8
GlenninVirginia
Posts: 6,399

It's the entitlements, stupid.

2 years ago  ::  Jan 13, 2013 - 7:35PM #9
61in61
Posts: 19,119

Jan 13, 2013 -- 6:08PM, GlenninVirginia wrote:


It's the entitlements, stupid.




So, you want to just throw everyone out onto the street?




Glenn and the rest of his ilk!


2 years ago  ::  Jan 13, 2013 - 7:41PM #10
GlenninVirginia
Posts: 6,399

No, let's just bankrupt the country and be taken over by foreign entities, saphead.

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