Obama Budget Doubles National Debt to $26.3 Trillion in 10 Years

[Usui Takumi 1,562]

Sell all of the stealth technology and current UAV specs to China for their share of US Treasury. Throw in all of our defense access codes for good measure (is it worth that much to China?)

[Used to be broken 143]

Ok, let's say I buy that. 2008 was a horrible year, 2009 was even worse and 2010 was slightly better, but still pretty bad.

What's his excuse this year? The projected deficit for 2011 is $1.480 trillion.

What's his excuse for 2012? The projected deficit for 2012 is $1.100 trillion.

What's his excuse for 2013? The projected deficit for 2013 is $704 billion.

What's his excuse for 2014? The projected deficit for 2014 is $533 billion.

What's his excuse for 2015? The projected deficit for 2015 is $551 billion.

What's his excuse for 2016? The projected deficit for 2016 is $659 billion.

What's his excuse for 2017? The projected deficit for 2017 is $617 billion.

What's his excuse for 2018? The projected deficit for 2018 is $610 billion.

What's his excuse for 2019? The projected deficit for 2019 is $696 billion.

What's his excuse for 2020? The projected deficit for 2020 is $739 billion.

What's his excuse for 2021? The projected deficit for 2021 is $763 billion.

These are all CBO projections which - as far as projections go - are quite optimistic.

Didn't Obama "fix" Bush II's little "fuzzy math" problem by actually including and accounting for the defense spending that Bush was keeping off the books?

Yeah, that is the "excuse". He started in the hole, gave the rich the tax cuts back.. hmmmm... its all coming into focus now.

[mawilson 2,133]

The quickest, and easiest remedy is to get rid of the Bush's tax cuts for the wealthy.

Done - $70 billion per year saved.

Next?

[mawilson 2,133]

i don't know of too many private companies that hire people with the potential to be shot at, nuked, chem'd or bio'ed.

All multinational corporations.

[mawilson 2,133]

The quickest, and easiest remedy is to get rid of the Bush's tax cuts for the wealthy.

Done - $70 billion per year saved.

Next?

[JohnSmith2007 353]

He won't answer you. If he does he will just deflect. Remember that Bush could do no right and Obama can do no wrong.

[one...two...tree 2,762]

http://www.cbpp.org/cms/?fa=view&id=692

[mawilson 2,133]

http://www.cbpp.org/cms/?fa=view&id=692

Yes, Steven, *all* tax cuts - including for those who make less than $200k.

[one...two...tree 2,762]

Yes, Steven, *all* tax cuts - including for those who make less than $200k.

That chart is referring to the Bush's Tax Cuts, which shows that they have been the biggest contributor to our huge budget deficits. End the tax cuts would then in fact be the quickest and easiest remedy to the problem. It's not the only thing we can do, but the most significant according to the data.

Edited February 17, 2011 by 8TBVBN

[mawilson 2,133]

That chart is referring to the Bush's Tax Cuts, which shows that they have are the biggest contributor to our huge budget deficits.

So am I.

According to the CBO, the cost of extending the Bush tax cuts for

• "the rich" (people who make over $200k; $250k couples) is $700 billion
  
• everyone else - $3 trillion
  

Total cost: $3.7 trillion, which is consistent with the CBO deficit projections I posted earlier and your chart.

[one...two...tree 2,762]

So am I.

According to the CBO, the cost of extending the Bush tax cuts for

• "the rich" (people who make over $200k; $250k couples) is $700 billion
• everyone else - $3 trillion

Total cost: $3.7 trillion, which is consistent with the CBO deficit projections I posted earlier and your chart.

Ah, ok. Ending all the tax cuts would make sense then.

[mawilson 2,133]

Ah, ok. Ending all the tax cuts would make sense then.

I agree.

[Mr. Big Dog 10,747]

I agree.

Yup. That's the reality that we'll eventually have to face. Just as little as you can spend your way to prosperity, you can't fix the deficit by cutting spending alone - least of all if you keep sacred cows such as defense which is one of the biggest expenditures out there.

[mawilson 2,133]

you can't fix the deficit by cutting spending alone

Right. Current revenues barely cover the costs of our entitlement

programs (Social Security, Medicare, Medicaid) and the interest

on our debt.

The only way to balance the budget without touching the entitlements

is to eliminate EVERYTHING ELSE, including 100% of the military.

As you can imagine, that's not gonna happen.

[I AM NOT THAT GUY 5,715]

I blame old people.