The Briefing Room
General Category => National/Breaking News => Topic started by: mystery-ak on November 20, 2013, 02:31:07 pm
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http://www.breitbart.com/Big-Government/2013/11/19/Obama-We-Reined-In-Spending (http://www.breitbart.com/Big-Government/2013/11/19/Obama-We-Reined-In-Spending)
(http://cdn.breitbart.com/mediaserver/Breitbart/Big-Government/2013/Barack%20and%20Michelle/obama-superman-drawing-ap.jpg)
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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He spelled it wrong. He has reigned in spending.
Obama: 'We Reigned In Spending'
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"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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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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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*
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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.
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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.
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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!
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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......
:beer:
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(https://scontent-a-dfw.xx.fbcdn.net/hphotos-ash3/1453468_10200926431825013_525461841_n.jpg)
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And here is another interesting site: http://home.adelphi.edu/sbloch/deficits.html
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Could it be Ali Bama was riding a horse named Spending? 11513
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"...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 (http://www.shadowstats.com/article/no-500-special-commentary-us-government-gaap-based-2012-financial-data)
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:silly: :silly: :silly: :silly: :silly: :silly: