Posted on 01/21/2015 10:54:18 AM PST by Citizen Zed
"At every step, we were told our goals were misguided or too ambitious; that we would crush jobs and explode deficits. Instead, we've seen the fastest economic growth in over a decade, our deficits cut by two-thirds, a stock market that has doubled and health care inflation at its lowest rate in 50 years," Obama said.
"At this moment — with a growing economy, shrinking deficits, bustling industry and booming energy production — we have risen from recession freer to write our own future than any other nation on Earth," he added later in the speech.
The good news, however, ends soon, at least for deficit hawks.
Absent substantial fiscal reform, obligations for retirement benefits, health care and other spending will be pushing that deficit higher and higher in the years to come, with the CBO projecting the number to approach $1 trillion again by 2024.
(Excerpt) Read more at mob.cnbc.com ...
The Spender in Chief!
Such a blatantly outragious lie, I cannot believe people didn’t ouright laugh their behinds off right in front of bammy.
WTF was this guy talking about?
I looked into the stats afterward, not really expecting them to coincided with his alternate universe and found that the real number we generally understand are truer than this asshat “deeming” a fact into existence.
Did agree on Cuba though. Did not agree with his adolescent taunt about it not working.
The USA already has 50 million on foodstamps, 36% of the population receiving some kind of means-tested (ie. welfare) benefit from Uncle Sam
What will happen to the US Budget the next time the stock market skids?
The Federal Reserve was able to print our way out of the last recession - what about the next?
Its why conservatives must realize the Federal Reserve are the castle walls of the progressive nanny state.
Great movie by the way...
Obama is praising everything he hates. He praises the massive amounts of wealth created in stocks but decries the massive amount of wealth created.
He praises a ‘booming’ energy sector when he has done everything in his power to smash it. He has closed coal plants, placed outrageous limits on federal land production, unleashed an army of ‘endangered’ animals to stop any development, and empowered the EPA to be dictator over every industrial capacity in the nation.
He says we are freer when he has sent to goon squads at the EPA, IRS, ATF, USDA, and every other agency to intimidate and destroy businesses and political groups he hates.
I could go on and on but I have to be productive. Millions of loser welfare queens are depending on my taxes to fill Obama’s stash.
Here is a simple chart that show AVERAGE ANNUAL Deficit (in billion $) by president.
Reagan 231
Bush 41 373
Clinton 193
Bush 42 613
Obama 1514
So Obama deficits on average are WAAAAAAY beyond Bush43. About 2.5x to be more precise and 8x Clinton’s average annual deficit.
Aided and abetted by the Republican Congress.
Someday soon, China through determination and hard work will have a larger and stronger economy, that THEY will need to protect, militarily.
All of a sudden, we are marginalized, the dollar is just another currency, and we can no longer print money.
The holders of our debt will have few choices, none of them pleasant. We will be forced into balance.
2002 - 2008
-168,-378,-413,-318,-260,-163,-454,-1.4T
average = 444B/yr.
Handed to them on a silver platter by Free Traitors.
I remember in school during the Bush Sr. years all you would hear about was the deficit. There were deficit counters we were subjected to on a daily basis. Now, nothing! No one cares suddenly!
I used total debt at each change of office. Some of the Bush numbers were cooked with off the books accounting of the war effort, but it is a nit to pick.
it was never shrinking.
What planet does Obama live on?
Thanks to BO, the sun rose in the east this morning.
Good Lord! They expect America to buy it! Deficists cut by 60%! (after we increased it by 300%)
All hail the Obowminator!
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