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Topic: Obama's Deficit Reduction So Far, In Spite of the Party of NO< Next Oldest | Next Newest >
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PostIcon Posted on: Jan. 11 2013, 2:21 pm  Skip to the next post in this topic. Ignore posts   QUOTE

It doesn't make good copy for Faux and MSNBC so we never hear much about this side of things:

Since the start of fiscal year 2011, President Barack Obama has signed into law approximately $2.4 trillion of deficit reduction for the years 2013 through 2022. Nearly three-quarters of that deficit reduction is in the form of spending cuts, while the remaining one-quarter comes from revenue increases. (see Figure 1) As a result of that deficit reduction, the projected rise in debt levels from today through 2022 has decreased by nearly 10 full percentage points of gross domestic product. In fact, under today’s policies, debt levels in 2022—as a share of GDP—will be only slightly higher than they are expected to be by the end of next year. That doesn’t mean there is no more work to be done, but it does show we’ve come a long way already.

http://www.americanprogress.org/issues....-so-far


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PostIcon Posted on: Jan. 11 2013, 2:46 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(wwwest @ Jan. 11 2013, 2:21 pm)
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It doesn't make good copy for Faux and MSNBC so we never hear much about this side of things:

Since the start of fiscal year 2011, President Barack Obama has signed into law approximately $2.4 trillion of deficit reduction for the years 2013 through 2022. Nearly three-quarters of that deficit reduction is in the form of spending cuts, while the remaining one-quarter comes from revenue increases. (see Figure 1) As a result of that deficit reduction, the projected rise in debt levels from today through 2022 has decreased by nearly 10 full percentage points of gross domestic product. In fact, under today’s policies, debt levels in 2022—as a share of GDP—will be only slightly higher than they are expected to be by the end of next year. That doesn’t mean there is no more work to be done, but it does show we’ve come a long way already.

http://www.americanprogress.org/issues....-so-far

Hmmmm.

The "party of NO" had to vote for each of those laws before Obama could sign them.  And how many of those spending cut laws were written and/or sponsored by the "party of NO"?  Most of them?
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PostIcon Posted on: Jan. 21 2013, 10:17 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

No matter how you spin it, the federal government borrows $40 of every $100 it spends.

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PostIcon Posted on: Jan. 21 2013, 10:48 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(Hungry Jack @ Jan. 21 2013, 10:17 pm)
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No matter how you spin it, the federal government borrows $40 of every $100 it spends.

Well that's what happens when you out conservatives in positions of power. Takes years to clean up the mess.
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PostIcon Posted on: Jan. 21 2013, 10:58 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(Land Rover @ Jan. 21 2013, 10:48 pm)
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(Hungry Jack @ Jan. 21 2013, 10:17 pm)
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No matter how you spin it, the federal government borrows $40 of every $100 it spends.

Well that's what happens when you out conservatives in positions of power. Takes years to clean up the mess.

That's what happens when you put politicians in power.

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PostIcon Posted on: Jan. 22 2013, 6:38 am Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

Funny how nobody is talking about the recent GAO report!

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PostIcon Posted on: Jan. 22 2013, 8:27 am Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(Hungry Jack @ Jan. 21 2013, 10:58 pm)
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(Land Rover @ Jan. 21 2013, 10:48 pm)
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(Hungry Jack @ Jan. 21 2013, 10:17 pm)
QUOTE
No matter how you spin it, the federal government borrows $40 of every $100 it spends.

Well that's what happens when you out conservatives in positions of power. Takes years to clean up the mess.

That's what happens when you put politicians in power.

The debate here for me comes down to whether we want to grow our way out of this, or cut and burn our way out of this. I know which is better for America.
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PostIcon Posted on: Jan. 22 2013, 10:23 am Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

So, we were suppose to spend a lot more than our income, but we instead spent a lot more than our income, but we should be happy?

It is like when my wife comes home with 10 bags of stuff and she tells me how much money she saved.


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PostIcon Posted on: Jan. 22 2013, 10:36 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

Economic growth is the ONLY way out of this mess, plus some tinkering with entitlement programs. We need to get the economy, and employment, humming again.

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PostIcon Posted on: Jan. 22 2013, 10:42 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(wwwest @ Jan. 11 2013, 11:21 am)
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[i]Since the start of fiscal year 2011, President Barack Obama has signed into law approximately $2.4 trillion of deficit reduction for the years 2013 through 2022...[/URL]

Call me cynical... but I pretty much ignore projections beyond 2-3 years.  And this is not because of Obama -- but because of the near-consistent, poor track record of both the executive and the legislative branches of our government.


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The world is a book and those who do not travel read only a page.  -- St. Augustine
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PostIcon Posted on: Jan. 23 2013, 3:16 pm Skip to the previous post in this topic.  Ignore posts   QUOTE

Yes, I agree that our track record for the new century has not caused one to be overly optimistic about the decision makers and their commitment to sustained fiscal responsibility.

In the year 2000 we had a balanced budget, and were paying down the national debt.  All we had to do was maintain that level, with no pain, no big cuts, no higher taxes, but instead we started a $2 trillion dollar foreign war program, and cut taxes!!

What a country!


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- John Kenneth Galbraith
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