What was stupid about data? What was the obfuscation?
Show me your data which shows that deficits went up under Obama.
Stop lying and then calling them facts, this isn't a Trump cabinet meeting.
Economists Credit Trump as Tailwind for U.S. Growth, Hiring and Stocks
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What was stupid about data? What was the obfuscation?
Show me your data which shows that deficits went up under Obama.
Stop lying and then calling them facts, this isn't a Trump cabinet meeting.
Oh mighty conservative fountain of economic data, let's see your raw numbers and decide once and for all what you are blabbering about.
No. The Bush tax cuts and now the Trump tax cuts made structural deficits. Don’t forget Bush inherited a nearly balanced budget and passed off a 1.2 trillion deficit to Obama, Obama halved that and Trump passed tax cuts that will increase deficits approx $150 billion a year, not including whatever spending he may increase.
When I say structural deficit it means a long term negative balance. This means the budget passed from president to president, Year to year.
This is opposed to a short term imbalance through one time spending or emergency spending. Such as an infrastructure package like Trump is proposing or major disaster spending like a very bad hurricane season.
I know what you wrote and as I pointed out it made no difference. He had 8 years to fix the structure had he wished. had he wanted.
Lets be clear....
Obama added more to the deficit than any president in history.
https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296
Barack Obama-- Under President Obama, the national debt grew the most dollar-wise. He added $7.917 trillion, a 68 percent increase, in seven years. This was the fifth-largest increase percentage-wise. Obama's budgets included the economic stimulus package. It added $787 billion by cutting taxes, extending unemployment benefits, and funding public works projects. The Obama tax cuts added $858 billion to the debt in two years.
Obama's budget increased defense spending to between $700 billion and $800 billion a year. Federal income was down, thanks to lower tax receipts from the 2008 financial crisis. He also sponsored the Patient Protection and Affordable Care Act. It was designed to reduce the debt by $143 billion over 10 years. But these savings didn't show up until the later years.
George W. Bush -- President Bush added $5.849 trillion, the second-greatest amount.
Lets be clear....
Obama added more to the deficit than any president in history.
https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296
Barack Obama-- Under President Obama, the national debt grew the most dollar-wise. He added $7.917 trillion, a 68 percent increase, in seven years. This was the fifth-largest increase percentage-wise. Obama's budgets included the economic stimulus package. It added $787 billion by cutting taxes, extending unemployment benefits, and funding public works projects. The Obama tax cuts added $858 billion to the debt in two years.
Obama's budget increased defense spending to between $700 billion and $800 billion a year. Federal income was down, thanks to lower tax receipts from the 2008 financial crisis. He also sponsored the Patient Protection and Affordable Care Act. It was designed to reduce the debt by $143 billion over 10 years. But these savings didn't show up until the later years.
George W. Bush -- President Bush added $5.849 trillion, the second-greatest amount.
He’s a professional troll and part time gay boy..
https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296
"Bush increased the debt 101 percent "
"Ronald Reagan: Added $1.86 trillion, a 186 percent increase from the $998 billion debt at the end of Carter's last budget"
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Right. Obama had 8 years to fix all the damage done by republicans which included 10% unemployment, $1.2 trillion deficit, a collapsed housing market, a collapsed auto industry, a stock market at 8,000, my personal favorite “FDIC” Friday’s where the fdic was going in banks once a week to manage their collapse, etc, etc, etc.
Yes, Obama was not able to fix the cataclysmic damage done by republicans and get us back to a balanced budget but he did make things much, much better.
We’ll see what Trump and the Republican Congress does. If the only ast predicts the future, hold on to your hat.
you are giving the fed way to much credit. The fed, of course, played a critical role in allowing the crisis to occur in the first place. When it did occur, as we know, there were major bank failures and many smaller banks also failed. Because of our federal reserve system and the F.D.I.C, however, not a single mom or pop lost a dime from their savings and checking accounts; not single check bounced, even if drawn on a failed bank. And although many, especially younger home owners, lost their homes, millions more were able to stay in their homes when the fed keep variable rate loans from resetting higher, and facilitated refinancing at much lower rates. Mom and pop's retirement saving were protected and recovered in time for them to still enjoy their retirement.
Contrast that with what would have happened had the fed not reacted as they did. We'd have had a full on world depression with many seeing their retirement savings decimated to the point that they would never have recovered in time to help older and retired Americans. Now we are engaged in dismantling the safety measures put into effect after the crisis. We are still saddled with TBTF, however, and because we are going right back to the financial environment that caused the crisis, we will eventually see yet another crisis. It's fine to criticize the fed, but if you do you're obligated to suggest a better alternative to the actions they took once the crisis hit full force. We all know, in hindsight, what a better alternative would have been. Greenspan could have intervened to stop the abuses in mortgage lending.
The main concern now should be Congress not the fed. Bernanke has said that the fed's tools are not very effective in achieving the mandate Congress has imposed on it! Let us recognize that. Congress is the horse, the fed is just the cart. The fed is an all to ready scapegoat. If you want to see underlying faults you need look no further than the U.S. Congress and the fiscal side. Frankly, though the faults are shared among Republicans and Democrats, the sharing is not equal.
The Republicans are far more to blame than the Democrats. But I will give the Republicans this, they have learned how to capture the Federal government and bend it to their own selfish self-interests, and they have succeeded magnificently! They are excellent at shifting blame and false advertising. By comparison, the Democrats have been bungling idiots.
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1. In terms of actual dollars Obama had the largest deficit.
2. At least Reagan's spending on star wars in part caused the end of communism in the Soviet Union and the eastern block.
Plus his initiatives could help us knock down incoming missiles that Obama and Bush did not prevent from being developed.
2. At least Reagan's spending on star wars in part caused the end of communism in the Soviet Union and the eastern block.
Plus his initiatives could help us knock down incoming missiles that Obama and Bush did not prevent from being developed.
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