CL Redux
- Thread starter schizo
- Start date
Obama to blab at the top of hour. get yo trigger fingers ready. WWIII is about to begin. 
add: delayed until 1:30pm eastern.
add: delayed until 1:30pm eastern.
<b>GDP , Deficit numbers over years </b>
http://www.bloomberg.com/news/2011-...-to-tea-party-at-expense-of-u-s-taxpayer.html
S&P maintained its AAA rating on the U.S. during George W. Bushâs presidency as the national debt grew to pay for wars in Afghanistan and Iraq, tax cuts in 2001 and 2003, Medicare prescription drug benefits and the bailout of Wall Street. Together, <b>those costs added $3.4 trillion to the national debt, according to data compiled by Bloomberg.</b>
Stimulus Package
Obamaâs stimulus package will total $830 billion by 2019, according to a May 2011 Congressional Budget Office report, half the cost of the Bush tax cuts and less than two-thirds of what has been spent on the wars in Iraq and Afghanistan.
The U.S. went from budget surpluses averaging $139.7 billion from 1998 through 2001 to a deficit of $1.29 trillion last year, Bloomberg data show. <b>The shortfall peaked at $1.42 trillion in 2009, the first year of Obamaâs presidency.</b>
Federal revenue as a percentage of gross domestic product GDP fell over the past several years as the weakened economy sapped income tax receipts. <b>Revenue was 14.9 percent of the economy in 2009 and 2010, the least since 1950, according to the Office of Management and Budget. </b>
Under the administrationâs February budget, which would have allowed tax cuts to expire in 2013 for individuals making more than $200,000 and married couples making more than $250,000, revenue <b>would reach 20 percent of GDP by 2021. </b>
<b>Most Republicans say they would like to keep federal revenue closer to 18 percent of GDP, nearer to the post-World War II norm.</b>
http://www.bloomberg.com/news/2011-...-to-tea-party-at-expense-of-u-s-taxpayer.html
S&P maintained its AAA rating on the U.S. during George W. Bushâs presidency as the national debt grew to pay for wars in Afghanistan and Iraq, tax cuts in 2001 and 2003, Medicare prescription drug benefits and the bailout of Wall Street. Together, <b>those costs added $3.4 trillion to the national debt, according to data compiled by Bloomberg.</b>
Stimulus Package
Obamaâs stimulus package will total $830 billion by 2019, according to a May 2011 Congressional Budget Office report, half the cost of the Bush tax cuts and less than two-thirds of what has been spent on the wars in Iraq and Afghanistan.
The U.S. went from budget surpluses averaging $139.7 billion from 1998 through 2001 to a deficit of $1.29 trillion last year, Bloomberg data show. <b>The shortfall peaked at $1.42 trillion in 2009, the first year of Obamaâs presidency.</b>
Federal revenue as a percentage of gross domestic product GDP fell over the past several years as the weakened economy sapped income tax receipts. <b>Revenue was 14.9 percent of the economy in 2009 and 2010, the least since 1950, according to the Office of Management and Budget. </b>
Under the administrationâs February budget, which would have allowed tax cuts to expire in 2013 for individuals making more than $200,000 and married couples making more than $250,000, revenue <b>would reach 20 percent of GDP by 2021. </b>
<b>Most Republicans say they would like to keep federal revenue closer to 18 percent of GDP, nearer to the post-World War II norm.</b>