Deficit projection actually higher than $9 trillion?

[Queasy1]

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ummm...wow. Obama's OMB completely fabricated the $9 trillion budget deficit over ten years by including revenue from programs and policies that don't exist. It's actually much worse...by $2.4 trillion or more given how rosy government projections tend to be.

With numbers like these, I don't know how we can avoid a double-dip recession or massive inflation or massive tax increases....or all three. God forbid government actually finds realistic ways to cut spending. With numbers like this, the stimulus bill should be rescinded immediately.

[Bamaro]

10 years ago there was actual concern that we may completely eliminate the national debt. This is a disgusting situation that we have gotten ourselves into. Greed has its price.

[Seize]

	Quote:	Queasy1
	ummm...wow. Obama's OMB completely fabricated the $9 trillion budget deficit over ten years by including revenue from programs and policies that don't exist. It's actually much worse...by $2.4 trillion or more given how rosy government projections tend to be. With numbers like these, I don't know how we can avoid a double-dip recession or massive inflation or massive tax increases....or all three. God forbid government actually finds realistic ways to cut spending. With numbers like this, the stimulus bill should be rescinded immediately.

Not going to comment about the fabrication of the budget deficit because for 1) it doesn't surprise me and 2) I imagine this administration isn't the first to paint a rosy picture (albeit I don't know about using revenues from non-existent programs).

On a slightly related topic..

What I will say is.. we have had a growing national debt (every year) since 1958. Granted, public debt has been increasing dramatically over the past several years, it has been an existing problem for 50 years (arguably more). As a younger person it amazes me how we've put ourselves in a situation like this.. and unfortunately, whether you are fiscally conservative/liberal, neither side has done anything to actually rectify the situation.

In my opinion (I'm far from an expert) it is pretty basic econ/accounting. Basic principles of both tell us.. at some point.. someone, somewhere is going to have to pay this debt. In order to pay a debt income must be > expenditures. The Government generates income from only a handful of significant places.. mainly taxes. So, in order for income to be > expenditures.. income must increase or expenditures must decrease. (Speaking from a very simple and macro-type level)

What I am getting at.. is that at some point there is going to have to be a significant (and effective) overhaul to Government spending (I would not hold my breathe on this regardless of administration) and/or taxes will have to go up.. or we'll have to come up with some brand new source of income.. or go to war..

Most likely, both spending cuts (that are effective and effecient) and increased taxes will need to occur, because at this point, we've basically shot ourselves in the foot. It also wouldn't shock me to see us in another war in the distant future (completely different topic). In any event, regardless of the economy turning around (which it will), the fiscal state of the country isn't exactly looking great for the long-term.... at least not in my non-expert opinion.

[SavannahDare]

Every day it just seems to get worse and worse. It's getting so bad I can't even keep my head wrapped around the numbers anymore.

When will someone with common sense step up to the plate and say "NO MORE!"

[Rafiki]

	Quote:	SavannahDare
	Every day it just seems to get worse and worse. It's getting so bad I can't even keep my head wrapped around the numbers anymore. When will someone with common sense step up to the plate and say "NO MORE!"

Rafiki think that politicians and common sense are mutually exclusive.

[bamachile]

	Quote:	SavannahDare
	When will someone with common sense step up to the plate and say "NO MORE!"

I've got bad news for you. We're addicted.



The cure involves cutting spending. There simply aren't enough revenues to raise. If you want a few more scary charts, just click

here

United_States_federal_budget

.

[uafan4life]

	Quote:	Rafiki
	Rafiki think that politicians and common sense are mutually exclusive.

Rafiki is right.

[Displaced Bama Fan]

	Quote:	SavannahDare
	Every day it just seems to get worse and worse. It's getting so bad I can't even keep my head wrapped around the numbers anymore. When will someone with common sense step up to the plate and say "NO MORE!"

I ran for school board in Katy under that same premise...lower property taxes, cut unnecessary services. I got whacked. Katy is supposedly a conservative school district. But hey, we need a 9th grade center at every high school, a natatorium, fine arts complex and 4 weight rooms and marble floors. I mean, these are the necessary building blocks for our kids.

[Bamaball2001]

	Quote:	SavannahDare
	Every day it just seems to get worse and worse. It's getting so bad I can't even keep my head wrapped around the numbers anymore. When will someone with common sense step up to the plate and say "NO MORE!"

Doesn't look like it Savannah. This link is to some very shocking numbers to wrap your head around.

Very sad news for out kids and grand-kids. The worst part is that these numbers are based on P-BOs first 8 months in office, not on what he might do in his next three years.

Unsustainable spending and debt

[Tidewater]

	Quote:	Bamaball2001
	Doesn't look like it Savannah. This link is to some very shocking numbers to wrap your head around. Very sad news for out kids and grand-kids. The worst part is that these numbers are based on P-BOs first 8 months in office, not on what he might do in his next three years. Unsustainable spending and debt

While I appreciate Heritage's take, the Republicans were spending like drunken sailors 2001-2005. It makes it hard for them to be taken seriously now.

[swoop10]

	Quote:	Tidewater
	While I appreciate Heritage's take, the Republicans were spending like drunken sailors 2001-2005. It makes it hard for them to be taken seriously now.

While I agree with what you said, they didn't spend like this. In 6 monthes PBO has outspent every Pres before him. Also the Heritage Foundation isn't a Rep organization, it is a conservative one. There is a big difference and while most may have thought Bush to be conservative, he showed that he wasn't.

[Queasy1]

	Quote:	swoop10
	While I agree with what you said, they didn't spend like this. In 6 monthes PBO has outspent every Pres before him. Also the Heritage Foundation isn't a Rep organization, it is a conservative one. There is a big difference and while most may have thought Bush to be conservative, he showed that he wasn't.

This. Obama, Reid, and Pelosi have put drunken sailors to shame. The 'mess we inherited' line just doesn't hold water given that a) Obama, Reid, and Pelosi have been in charge of the Congress since the 2006 elections and b) the massive spending increases that are bankrupting the country happened since the Dems have taken total control of the Executive and Congressional branches.

[swoop10]

	Quote:	Queasy1
	This. Obama, Reid, and Pelosi have put drunken sailors to shame. The 'mess we inherited' line just doesn't hold water given that a) Obama, Reid, and Pelosi have been in charge of the Congress since the 2006 elections and b) the massive spending increases that are bankrupting the country happened since the Dems have taken total control of the Executive and Congressional branches.

Exactly and I'm pretty sure that the Big O voted for most of the big spending, so his inherited claims have always been bogus. He likes to bring up the debt he inherited but most of it came from the bailouts, which he voted for. I don't see how he can claim he inherited something he was for.