Can we stop blaming Trump?
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18-03-2017, 01:31 PM
RE: Can we stop blaming Trump?
(18-03-2017 10:30 AM)GirlyMan Wrote:  
(18-03-2017 10:18 AM)Thumpalumpacus Wrote:  Mishandling our involvement in the Arab Spring movements, no doubt. Getting us involved in a criminal war in Yemen.

Not pushing hard enough for single payer.

Also not pushing at all for the criminal prosecution of Wall Streeters.
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18-03-2017, 01:34 PM (This post was last modified: 18-03-2017 02:25 PM by John Derderian.)
RE: Can we stop blaming Trump?
(18-03-2017 12:56 PM)Jay Vogelsong Wrote:  
(18-03-2017 09:23 AM)John Derderian Wrote:  Obama did not double the deficit. The deficit went down under Obama, a little bit if you measure in unadjusted dollars, more reduction if you adjust for inflation as is usually done.

Obama increased the debt, as has every modern president. He did not double it, or come anywhere remotely near that.

"The national debt grew the most dollar-wise during President Obama's two terms. He added $7.917 trillion, a 68 percent increase, in seven years."

https://www.thebalance.com/us-debt-by-pr...nt-3306296
The original comment was about doubling the deficit, not the debt. The deficit did not double, but went down slightly.

I don't know anything about the website or the writer whose article is cited here. Accepting their numbers for the sake of argument, their figure of a 68% increase in the debt is far below doubling (although I grant there is still a year to go). This number sounds like it is not adjusted for inflation; if so, the inflation-adjusted figure would be smaller.

Update: D'oh! The 68% increase figure would not change if adjusted for inflation. My error.
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18-03-2017, 02:14 PM
RE: Can we stop blaming Trump?
(18-03-2017 01:34 PM)John Derderian Wrote:  The original comment was about doubling the deficit, not the debt. The deficit did not double, but went down slightly.

Yes, I thought that was my mistake.

Sad
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18-03-2017, 02:26 PM
RE: Can we stop blaming Trump?
2017 Key Facts
The U.S. government is estimated to collect $3.21T in tax revenues and spend a total of $3.65T in its 2017 budget, resulting in a deficit of $443B. The deficit is expected to be 2.6% of its total estimated GDP of $17T that year.

All numbers are adjusted for inflation.
Total Revenues
$3.21TRILLION
Total Spending
$3.65TRILLION
Total Surplus/Deficit
-$443BILLION
Total Surplus/Deficit as % of GDP
-2.6%
GDP
$17TRILLION
http://federal-budget.insidegov.com/l/120/2017-Estimate

From 2015
[Image: title_graph.png]

"The Fiscal Year (FY) 2015 budget deficit totaled $439 billion, according to today’s statement from the Treasury Department. Although this is roughly 10 percent below the FY 2014 deficit and nearly 70 percent below its 2009 peak, the country remains on an unsustainable fiscal path.

In this paper, we show:

Annual deficits have fallen substantially over the past six years, largely due to rapid increases in revenue (largely from the economic recovery), the reversal of one-time spending during the financial crisis, small decreases in defense spending, and slow growth in other areas.
Simply citing the 70 percent fall in deficits over the past six years without context is misleading, since it follows an almost 800 percent increase that brought deficits to record-high levels.
Even as deficits have fallen, debt held by the public has continued to rise, growing from $5.0 trillion in 2007 and $7.5 trillion in 2009 to $13.1 trillion today. As a share of GDP, debt rose from 35 percent in 2007 to about 74 percent in 2014 and 2015.
Both deficits and debt are projected to rise over the next decade and beyond, with trillion-dollar deficits returning by 2025 or sooner and debt exceeding the size of the economy before 2040, and as soon as 2031.
Unfortunately, the recent fall in deficits is not a sign of fiscal sustainability.”
http://www.crfb.org/papers/fy-2015-defic...inues-rise

and

U.S. deficit forecast to shrink in 2017 but climb over next decade
http://www.reuters.com/article/us-usa-co...SKBN158217

"The CBO projected the deficit, the amount that government expenditures exceed incoming revenue, to fall slightly to $559 billion in fiscal year 2017, which ends on Sept. 30, compared to $587 billion a year earlier, and it was seen lower still in 2018 at $487 billion.

After that, according to the CBO, deficits are expected to grow steadily over the next decade to $1.4 trillion by fiscal 2027, in part due to costs associated with the retiring baby-boom generation. That would mean a return to a deficit level roughly the same as in fiscal 2009, when Republican George W. Bush ended eight years in the White House and Democrat Barack Obama succeeded him.”

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
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18-03-2017, 02:39 PM (This post was last modified: 18-03-2017 02:50 PM by Thoreauvian.)
RE: Can we stop blaming Trump?
(18-03-2017 02:26 PM)Full Circle Wrote:  2017 Key Facts
The U.S. government is estimated to collect $3.21T in tax revenues and spend a total of $3.65T in its 2017 budget, resulting in a deficit of $443B. The deficit is expected to be 2.6% of its total estimated GDP of $17T that year.

etc.

Thanks for the information. Shocking

What do you think we should do about it?
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18-03-2017, 04:18 PM
RE: Can we stop blaming Trump?
[Image: title_graph.png]

Obama got to reduce the damage Le Shrub did to us.
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18-03-2017, 05:03 PM
RE: Can we stop blaming Trump?
(18-03-2017 10:18 AM)Thumpalumpacus Wrote:  
(18-03-2017 08:50 AM)Alla Wrote:  OK.
So, what can we blame Obama for? Is there anything?

Mishandling our involvement in the Arab Spring movements, no doubt. Getting us involved in a criminal war in Yemen.

How about killing Muslims by drones? How about deporting illegal immigrants? Can we blame Obama for this?

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18-03-2017, 05:04 PM
RE: Can we stop blaming Trump?
(18-03-2017 01:31 PM)julep Wrote:  
(18-03-2017 10:30 AM)GirlyMan Wrote:  Not pushing hard enough for single payer.

Also not pushing at all for the criminal prosecution of Wall Streeters.
OK, Why didn't he do this?

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18-03-2017, 05:07 PM
RE: Can we stop blaming Trump?
BTW, OP, you do remember that this is the United States, where we fire the coach when the players don't do well? Drinking Beverage
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18-03-2017, 05:08 PM
RE: Can we stop blaming Trump?
Guys, I see that all of you are former president Obama supporters. Please, tell me what do you believe the most important things he achieved?

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