Posted on 02/24/2009 8:04:04 PM PST by libh8er
Am I the only one who heard it ?
You voted "YES" for the trillion bucks...
and my yet to be born grandchildren will have YOU to thank, when the bill falls on them.
“He inherited a trillion dollar deficit and promptly decided to make it a two trillion dollar deficit. The fact that he can say that, knowing the media won’t call him on it, is truly scary.”
<<That truly is the scary part! Why he got elected was fact that Media acted like Pravda and did no research. Coming from IL, it has been sadly ironic that the media was all over Blago and Burris, yet could only worship the kenyan. :(
He can fool the masses, yet I note that DOW futures are down almost 70 now, so he is not fooling those in the know.
He knew the parameters of the job when he signed up for it. Heck, he fought long and hard to get the job. He absolutely cannot whine about how hard it is now. What a jerk.
and then he doubled it in a month
I’m certain this guy is a troll. Ignore him.
Bart.
This is a big lie.
>Obama whining that he inherited a deficit is kind of hypocritical.
“Kind of”, no... extremely.
I figured he was. I was hoping to bait him into responding in order to “out” him.
Obama sure says "we" a lot.
Who is this "we" he is referring to?
The country?
The Democrat party?
He and his gang of sycophants?
Maybe he wants to avoid the responsibility of saying "I".
At any rate, Mr. Obama, I do not consider myself part of your royal "we". I want nothing to do with your self-serving policies. Count me out.
Here’s some info on how they came up with the 1.1 trillion figure. I found this earlier in the evening...I wondered where the figure came from also. It’s not from the TARP, its more from the Fannie Mae and Freddie Mac bailouts (apparently).
“CBO (2009a) treats the Troubled Asset Relief Program (TARP) introduced in the fall of 2008 on a net present value basis, in accordance with its treatment of federal credit programs under the Federal Credit Reform Act. Thus, rather than counting the TARP’s grossappropriation as contributing to the deficit, CBO includes only the net present value subsidy expected to result from the TARP’s activity. Thus, CBO puts the TARP’s contribution to the
fiscal year 2009 deficit at $184 billion (CBO, 2009, Table 8), even though it is expected to add an additional $461 billion to the outstanding national debt during the same fiscal year (CBO, 2009, Table 6; see also Elliott 2009).
A similar treatment of the Treasury’s purchases of
mortgage-backed securities contributes $248 billion in debt accumulation in fiscal year 2009.
These interventions are treated as having a much larger impact on the accumulation of federal debt than on the contemporaneous deficit because of the estimated increase in offsetting financial assets.
CBO also treats the government’s bailout of Fannie Mae and Freddie Mac on a present value basis, estimating that the cost to the government of guaranteeing these liabilities will contribute $218 billion to the deficit in fiscal year 2009. However, as this guarantee is not associated with any new official government borrowing, there is no corresponding increase projected for the national debt in fiscal year 2009. Thus, the treatment of Fannie Mae and
Freddie Mac adds more to the deficit than to the accumulation of federal debt.”
http://www.taxpolicycenter.org/UploadedPDF/411843_economic_crisis.pdf
page 4...more on page 5 section C
I can’t vouch for the accuracy or content because I haven’t had time to wade through it. It looks correct and is footnoted.
I’m trying to get my head around the math. Don’t we actually have a 400 billion initial deficit + 850 billion for TARP + 787 billion for Porkulus = about 2 trillion dollars in the hole for the year?
Always a good move. But he outed himself by making an idiotic statement and not staying around long enough to defend it.
Bart
Well, that’s evidence in and of itself.
I believe that I read that the deficit at the end of january was 567 billion.
I wonder if the little coward is still watching. We might smoke him out for sport.
Even if he’s still “lurking”, you think he’s got that kind of courage?
Defict math....you have to remember we did not spend ALL of the first bailot $$$ Bush left some for BHO.
And the spendulus is a slow burn....Big money in 2010
I doubt it. Little turds like that just hit and run.
Bart.
Leaving a serious stench behind.
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