Author Topic: Obama: 'We Reined In Spending'  (Read 652 times)

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Offline mystery-ak

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Obama: 'We Reined In Spending'
« on: November 20, 2013, 09:31:07 AM »
http://www.breitbart.com/Big-Government/2013/11/19/Obama-We-Reined-In-Spending



 by Wynton Hall 19 Nov 2013

President Barack Obama told the Wall Street CEO Council Tuesday that his administration has "reined in spending" and "cut our deficits by more than half."

"After years of trillion-dollar deficits we reined in spending, wound down two wars and began to change a tax code that I believe was too skewed towards the wealthiest among us at the expense of the middle class," said Obama. "And since I took office, we have now cut our deficits by more than half. Add it all and businesses like yours have created 7.8 million new jobs over the past 44 months, we've gone farther and recovered faster than most other advanced nations. And so in a lot of ways, America is poised for a breakout."

According to the White House's own budget figures, over the next 10 years U.S. deficits will climb $5.271 trillion.

The Office of Management and Budget (OMB) says Obama's FY 2014 budget would add another $8.7 trillion to the national debt over the next 10 years, bringing America's projected federal debt to $25.8 trillion.

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Offline rustynail

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Re: Obama: 'We Reined In Spending'
« Reply #1 on: November 20, 2013, 09:36:20 AM »
He spelled it wrong.  He has reigned in spending.
Obama: 'We Reigned In Spending'

Offline mountaineer

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Re: Obama: 'We Reined In Spending'
« Reply #2 on: November 20, 2013, 10:00:15 AM »
Quote
"And since I took office, we have now cut our deficits by more than half. Add it all and businesses like yours have created 7.8 million new jobs over the past 44 months, we've gone farther and recovered faster than most other advanced nations. And so in a lot of ways, America is poised for a breakout."
The sad thing is that people actually will believe this stinking, steaming pile of BS.
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Offline andy58-in-nh

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Re: Obama: 'We Reined In Spending'
« Reply #3 on: November 20, 2013, 10:32:32 AM »
Obama has run up the largest deficits of any US President in history.

The deficit for FY 2013 will be lower ($680 Billion) than the deficits for 2011 ($1.3 Trillion) or 2012 ($1.087 Trillion)

Why?

1. Huge tax increases on income and capital, combined with expiring payroll tax reductions.
2. Sequestration spending cuts, which reduced net Federal outlays by 4%.
3. Interest rates artificially held near zero by the Federal Reserve, reducing the cost of debt finance.

By way of contrast, George Bush's last year in office (2008) produced the largest deficit of his Presidency: $458 Billion.
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Offline Carling

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Re: Obama: 'We Reined In Spending'
« Reply #4 on: November 20, 2013, 10:49:37 AM »


By way of contrast, George Bush's last year in office (2008) produced the largest deficit of his Presidency: $458 Billion.

Don't forget that the Dems count FY 2009 as Bush's, since it started in 10/08 while Bush was still President. 

Hence, Bush is to blame for the deficits accrued by the Stimulus Bill in their twisted world, even though Obama signed the bill, and Obama gets to claim he's cut deficits.   **nononono*
« Last Edit: November 20, 2013, 10:50:13 AM by Carling »
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Offline andy58-in-nh

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Re: Obama: 'We Reined In Spending'
« Reply #5 on: November 20, 2013, 10:59:28 AM »
Don't forget that the Dems count FY 2009 as Bush's, since it started in 10/08 while Bush was still President. 

Hence, Bush is to blame for the deficits accrued by the Stimulus Bill in their twisted world, even though Obama signed the bill, and Obama gets to claim he's cut deficits.   **nononono*

That's correct, and typically dishonest of the Left.

Nor do they truly object to Federal deficits. Instead, most Keynesian liberal economists conflate government spending with "investment", which in turn reflects their belief that government has first claim on your income, and by extension: that government is the source of your rights.   
Liberalism isn't really about making the world a better place. It's about reassuring the elites that they are good people for wanting to rule over it.

Offline Scottftlc

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Re: Obama: 'We Reined In Spending'
« Reply #6 on: November 20, 2013, 11:16:37 AM »
He's already gone to the mat on lying...everyone knows he lies constantly.  So why not just keep on lying...people will naturally believe you tell the truth sometime, even if you never do.
Well, George Lewis told the Englishman, the Italian and the Jew
You can't open your mind, boys, to every conceivable point of view

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Offline Bigun

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Re: Obama: 'We Reined In Spending'
« Reply #7 on: November 20, 2013, 11:25:16 AM »
He's already gone to the mat on lying...everyone knows he lies constantly.  So why not just keep on lying...people will naturally believe you tell the truth sometime, even if you never do.

He doesn't know how to not lie!

Offline Chieftain

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Re: Obama: 'We Reined In Spending'
« Reply #8 on: November 20, 2013, 11:25:35 AM »
He spelled it wrong.  He has reigned in spending.
Obama: 'We Reigned In Spending'

Properly parsed Quote of the Week!

Rustynail, do you know the Clintons by any chance???  Your insight is finely honed......

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Offline Bigun

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Re: Obama: 'We Reined In Spending'
« Reply #9 on: November 20, 2013, 11:59:49 AM »

Offline Bigun

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Re: Obama: 'We Reined In Spending'
« Reply #10 on: November 20, 2013, 12:08:27 PM »
And here is another interesting site: http://home.adelphi.edu/sbloch/deficits.html

Offline rangerrebew

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Re: Obama: 'We Reined In Spending'
« Reply #11 on: November 20, 2013, 01:27:48 PM »
Could it be Ali Bama was riding a horse named Spending? 11513
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Let us then turn this government back into the channel in which the framers of the Constitution originally placed it.
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Offline katzenjammer

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Re: Obama: 'We Reined In Spending'
« Reply #12 on: November 20, 2013, 02:13:55 PM »
Quote
"...And so in a lot of ways, America is poised for a breakout."


Hmmm, a "breakout" of what....


Here's a more sobering report (from John Williams) of what the real deficits have been:

No. 500: SPECIAL COMMENTARY, U.S. Government GAAP-Based 2012 Financial Data




Offline kevindavis

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Re: Obama: 'We Reined In Spending'
« Reply #13 on: November 20, 2013, 08:28:44 PM »
 :silly: :silly: :silly: :silly: :silly: :silly:
GOP House members came to Paul Ryan to be Speaker. He didn't come to them. And he was everybody's conservative darling back in 2012. So unless 1 of the remaining 240 wants to step up & do a better job in budgeting & negotiations & herding the party cats, then everybody please STFU. You go to battle with the army you have, not the one you want but don't have.

Kevin Davis


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