Obama's government spending is going to bankrupt the nation??????

[degsme]

Except the chart is cheap partisan spin! He credits Bush with (most of) Obama's "stimulus" spending as well as $200 billion in TARP money that Bush said he didn't need but Obama promptly spent to (largely) bail out the UAW!

TARP Money GWB said he didn't need? Please. From the man who handed over an economy losing 820,000 jobs/mo?

Get a grip. Now yes $400B of Obama's stimulus get attributed to GWB. But realistically you could also attribute the whole spending for the "FICA Holiday" on that as well, becuse the crash was 100% GWB's.

Even if you pull out Obama's ONE TIME STIMULUS his spending increases are tiny compared to GWB's.


FACTS MATTER
All of them Lukey - even the inconvenient ones.

 

[KnotaFrayed]

Except the chart is cheap partisan spin! He credits Bush with (most of) Obama's "stimulus" spending as well as $200 billion in TARP money that Bush said he didn't need but Obama promptly spent to (largely) bail out the UAW! When Obama decided to add over $400 billion to Bush's 2009 budget, he bought it lock, stock and barrel. It's his! And when you remove this rhetorical sleight of hand (that Bush is responsible for spending authorized after he left office because it was larded onto his budget) this silly notion that Obama is fiscally responsible suddenly fades away.

Are you now suggesting the WSJ is now into "cheap partisan spin"?? You're kidding, aren't you?

If I and all my friends sit around at a bar drinking all afternoon and put our drinks on a tab, then you come along and add another beer or two to the tab, are you then responsible for the whole tab in terms of its total amount? If you want spin, those that suggest the tab is all yours because you added on a few beers are the ones that are doing the spinning.

Relative to what other's have added to the debt, through deficit spending, Obama's is the least amount of increase in spending, where he has increased spending, not cut it. That means relative to the rise during the administrations of others, Obama's by comparison has been small peanuts.

But keep on talking Lukey, it's helping Obama all that much more as people get a better fix on where some people are coming from and how much they really understand what they claim to.

 

[Lukey]

Are you now suggesting the WSJ is now into "cheap partisan spin"?? You're kidding, aren't you?

If I and all my friends sit around at a bar drinking all afternoon and put our drinks on a tab, then you come along and add another beer or two to the tab, are you then responsible for the whole tab in terms of its total amount? If you want spin, those that suggest the tab is all yours because you added on a few beers are the ones that are doing the spinning.

Relative to what other's have added to the debt, through deficit spending, Obama's is the least amount of increase in spending, where he has increased spending, not cut it. That means relative to the rise during the administrations of others, Obama's by comparison has been small peanuts.

But keep on talking Lukey, it's helping Obama all that much more as people get a better fix on where some people are coming from and how much they really understand what they claim to.

If I come in as you and your friends are leaving and I say keep running their tab and add my drinks and those of all my friends to it then, well, yes, it becomes my tab. Why would the bartender think otherwise?

 

[KnotaFrayed]

If I come in as you and your friends are leaving and I say keep running their tab and add my drinks and those of all my friends to it then, well, yes, it becomes my tab. Why would the bartender think otherwise?

Like I said Lukey, keep on talking, you're helping Obama immensely.

 

[degsme]

If I come in as you and your friends are leaving and I say keep running their tab and add my drinks and those of all my friends to it then, well, yes, it becomes my tab.

Nope... Tabs are opened on the initial credit card which is run with a "hold" amount on it. and then when it is closed the actual amount is billed against it. So if you add your drinks to THEIR TAB - then THEIR credit card gets charged.


For someone who wants to argue economics you sure seem ignorant of how businesses are run.

 

[Sickofleft]

Yes it will:

By JAMES TARANTO
"Obama Spending Binge Never Happened," announces the headline of a column by MarketWatch.com's Rex Nutting, which the president's supporters have received gratefully and eagerly. The Hill reports Jay Carney, the White House press secretary, has favorably cited the column, which claims: "Almost everyone believes that Obama has presided over a massive increase in federal spending, an 'inferno' of spending that threatens our jobs, our businesses and our children's future. . . . But it didn't happen." (MarketWatch, like this website, is part of Dow Jones & Co.)

Enlarge Image

CloseMarketWatch.com

The Nutting chart
.Nutting's contention that the Obama years have not seen "a massive increase in federal spending" is literally accurate, at least if one construes "massive" in relative terms. He produces a bar graph that shows during fiscal 2006-09, which roughly corresponds to George W. Bush's second term, spending grew at an average annual rate of 8.7%. During 2010-13, the rate of increase is projected at just 1.4%.

"The major spending decisions in the 2009 fiscal year were made by George W. Bush and the previous Congress," notes Nutting. The most obvious objection is addressed in his chart, which "reassigns" to Obama "about $140 billion in extra spending in the 2009 fiscal year from the stimulus bill, from the expansion of the children's health-care program and from other appropriations bills passed in the spring of 2009."

The less obvious but more pertinent objection is hinted at in this paraphrase of Obama's I-inherited-this-mess mantra: "Like a relief pitcher who comes into the game with the bases loaded, Obama came in with a budget in place that called for spending to increase by hundreds of billions of dollars in response to the worst economic and financial calamity in generations."

That would be the Troubled Asset Relief Program, enacted in October 2008. It accounted for much of the enormous spending increase (to $3.52 trillion from $2.98 trillion, or 17.9%) in fiscal 2009. Thereafter the rate of change was much smaller: Spending fell 1.8% in 2010, rose 4.3% in 2011, and is expected to rise 0.7% in 2012 and fall 1.3% in 2013.

But TARP was a one-off, a temporary response to an emergency. By itself, it would have caused a bump in spending--that is, a sharp increase in 2009, followed by a sharp decrease in 2010. As James Pethokoukis notes, "Obama chose not to reverse that elevated level of spending; thus he, along with congressional Democrats, [is] responsible for it." Obama spends as if the 2008 emergency were permanent.

Or, to put it another way, he's like a relief pitcher who comes into the game with the bases loaded and proceeds to give up run after run.

 

[degsme]

.

But TARP was a one-off, a temporary response to an emergency. By itself, it would have caused a bump in spending--that is, a sharp increase in 2009, followed by a sharp decrease in 2010.

That presumes 100% of the TARP spending was completed in 2009. it was not. In fact there were plenty of stories in late 2009 about how not all of the TARP had been spent http://www.americanthinker.com/2010/10/under_the_tarp.html

So much for aon OPINION BLOG.

 

[Sickofleft]

[/I]That presumes 100% of the TARP spending was completed in 2009. it was not. In fact there were plenty of stories in late 2009 about how not all of the TARP had been spent http://www.americanthinker.com/2010/10/under_the_tarp.html

So much for aon OPINION BLOG.

We still needed a seperate stimulus then using the TARP money right? We could not just use the TARP money that was left nooooooo that had to be whole other slush fund................. But somehow Obama is spending less, ......he only spent 5 trillion in three and half years.............useful idiots rejoice.

 

[degsme]

We still needed a seperate stimulus then using the TARP money right? We could not just use the TARP money that was left nooooooo that had to be whole other slush fund.................

Not a slush fund but a whole separate fund? Yes. Because the way the TARP legislation was written it could not be used for stimulus. Furthermore we did need MORE stimulus than just the TARP and TARP2 monies...

Yes and?

 

[Lukey]

Nope... Tabs are opened on the initial credit card which is run with a "hold" amount on it. and then when it is closed the actual amount is billed against it. So if you add your drinks to THEIR TAB - then THEIR credit card gets charged.


For someone who wants to argue economics you sure seem ignorant of how businesses are run.

No one said ANYTHING about a credit card! Um, does "facts matter" sound familiar?

 

[degsme]

No one said ANYTHING about a credit card! Um, does "facts matter" sound familiar?

You talked about "a tab" at the bar. Explain to me how you run a tab at the bar without a Credit Card?

 

[Bluedog]

You talked about "a tab" at the bar. Explain to me how you run a tab at the bar without a Credit Card?

I would say a debit card. The money is not borrowed.

 

[Lukey]

You talked about "a tab" at the bar. Explain to me how you run a tab at the bar without a Credit Card?

They write your drinks on an order. They make a tick mark next to each item every time someone orders a refill. They add new drinks to the order as others arrive. At the end of the gathering someone gets handed the bill. They may (or may not) collect from the others for their "share" or they pay for it themselves. You don't go out with folks to bars much, do you? Frankly, I'm not surprised.

 

[Friday13]

Did you read the 'fine print' below the graph?

Government spending under Obama, including his signature stimulus bill, is rising at a 1.4% annualized pace — slower than at any time in nearly 60 years

 

[degsme]

i would say a debit card. The money is not borrowed.

nice....

 

[degsme]

They write your drinks on an order. They make a tick mark next to each item every time someone orders a refill. They add new drinks to the order as others arrive. At the end of the gathering someone gets handed the bill.

Bars don't run open tabs that way if they wish to stay in business long. They require an "upfront deposit" in the form of a Credit Card.

 

[NinaS]

Did you read the 'fine print' below the graph?

Oops I think "Lukey" vacated this thread. LOL Small print matters. LOL

 

[degsme]

He tends to do that when confronted with verifiable facts.

 

[Lukey]

http://www.usatoday.com/news/washington/story/2012-05-18/federal-deficit-accounting/55179748/1

 

[Lukey]

Did you read the 'fine print' below the graph?

Only the 140 billion that was paid out after November 1 2010.