Atlantic: Obama To The Next Generation: Screw You, Suckers

[SkinsHokieFan]

I don't know how you figure the interest payments have done down according to that website. in '88 they were in the 200B range and in 4 out of the last five years they were in the 400B range. Trending up over the last 22 years.

We are not talking about 1988. We are talking about mid decade 2000s

Bush's final budget proposal was 3.1 trillion. Obama's was 3.7 this year.

http://www.usatoday.com/news/washington/2008-02-04-budget-analysis_N.htm

Again, I am referring to "non financial crises years" since the FY 2012 budget President Obama has proposed will be during a non financial crises.

I totally understand why the deficit exploded at the end of FY08, into FY09, and FY 10. There were major bailouts and stimulus packages

FY 11 is seeing the last of the stimulus money going out and revenues starting to recover.

FY 12 we no longer have the bailouts or stimulus to worry about and we are seeing the Iraq/Afghan war wind down. AND tax reiepts are projected to recover further.

So Bush's actual Budget would have been higher if he accounted for war spending through the entire year.

---------- Post added February-16th-2011 at 03:49 PM ----------

http://en.wikipedia.org/wiki/United_States_federal_budget

Yes, but as Larry and I have pointed out the needle still moved the same once the actuals were known. It wasn't as if the deficit numbers just went away because the war numbers weren't all there

Also, Tax revenue was down 20% last year.

Which makes sense for the deficits of FY 09 and even FY 10. Going FORWARD into FY 12, with revenues starting to recover,we are still seeing a projected deficit well north of 1 trillion dollars

That is just absurd.

My main point is really that. There is no reason for our deficits to be projected in the trillion dollar range with much of bailouts and stimulus packages gone now, and with revenues recovering as we see the economy recovering. This no longer makes any sense at all

At this point, I think I have really labored the point well enough and for too long. Hopefully we see that deficit number drop below 1 T in the next few years

[Prosperity]

yup... we're boned

[Hersh]

Bush's final budget proposal 3.1T which maybe would have been 3.2 if he accounted for all the military spending (In Bush's last budget he accounted for military spending only thru Jan. 20th.) vs.Obama's budget is 3.7T. So a difference of 500-600B to start. Plus less revenue coming in (Extension of Bush Tax cuts and less revenue from the recession) conservatively 600B. There is your 1.2 trillion dollar difference.

FYI: Bush's final budget proposal of 3.1T was made before the financial meltdown and didn't take into account all the extra spending that happened at the end of 08.

Also, the 2010 interest payment number was 413B so it immediately went back up. I don't know why it went down one year out of the last ten but it wasn't cause the debt went down and thus we had less to pay on it. To discount the real trend cause of one year is to dismiss facts.

[mcsluggo]

I agree somewhat in that cuts to discretionary spending aren't going to get the job done. As Rep. Ryan said, Obama "punted" the issue of cuts to entitlement spending to the GOP. That's an issue that needs to be tackled. I'm interested to hear what the GOP proposes we do about Medicare/Medicaid and Social Security spending.

Ryan has punted on any sort of credibility and genuine seriousness to me with the soundbite that has been hammering over and over this week: "...the Obama admin has proposed $8 in new taxes for every $1 in spending cuts in this new budget..."

he is going to have to win back some street cred from me.