Grim Milestone: Budget deficit hits a TRILLION... & climbin'

[Philodox]

Grim milestone: Budget deficit hits $1 trillion
By Michelle Malkin  •  July 13, 2009 05:37 PM Woo-hoo! Feel the Hope and Change:
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Edited to bring into copyright compliance


http://michellemalkin.com/2009/07/13/grimmilestone-budget-deficit-hits-1-trillion/

[Exterminator]

Why do you care...your old ass will be dead soon anyway.

[Philodox]

Why do you care...your old ass will be dead soon anyway.

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That's an assinine statement plain & simple. Do you not care about your children & their children ?

IMO.. It is your kind of stupidity & simple-mindedness that has put this country in the shape that it's in.

.

[LOsborne]

IMO.. It is your kind of stupidity & simple-mindedness that has put this country in the shape that it's in.

How do you figger? Ex didn't send us into Iraq, or write interest-only mortgages to people with bad credit.

Hurling easy insults at those who disagree with you does little to explain your view on how the situation came about, or how it should be addressed.

[Exterminator]

That's an assinine statement plain & simple. Do you not care about your children & their children ?

IMO.. It is your kind of stupidity & simple-mindedness that has put this country in the shape that it's in.

I have no children and no, it's letting morons like you breed that put this country into the shape that it's in.

[Gryphon]

I dont recall Miss Malkin giving a shit when deficits rolled ahead prior to now. So forgive me if her words ring hollow at this point.

[Henry Hawk]

I dont recall Miss Malkin giving a shit when deficits rolled ahead prior to now. So forgive me if her words ring hollow at this point.

Although the deficit has been out of control for years now....and YES, the Bush admin has allowed it's share of contribution....but THIS is really OUT of control now....

just read what she said:

Nine months into the fiscal year, the federal deficit has topped $1 trillion for the first time.

The imbalance is intensifying fears about higher interest rates and inflation, and already pressuring the value of the dollar. There's also concern about trying to reverse the deficit — by reducing government spending or raising taxes — in the midst of a harsh recession.

The Treasury Department said Monday that the deficit in June totaled $94.3 billion, pushing the total since the budget year started in October to nearly $1.1 trillion.

The deficit has been propelled by the huge sum the government has spent to combat the recession and financial crisis, combined with a sharp decline in tax revenues. Paying for wars in Iraq and Afghanistan also is a major factor.

The country's soaring deficits are making Chinese and other foreign buyers of U.S. debt nervous, which could make them reluctant lenders down the road. It could force the Treasury Department to pay higher interest rates to make U.S. debt attractive longer-term.

what is so "hollow" about those words?.....

WE HAVE A PROBLEM GOING ON..........AND IT SEEMS TO ME THAT EVERYBODY IS JUST WORRIED ABOUT 'WHOSE FAULT" IT IS!!!....IT IS GOVERNMENT'S FAULT...PEROID...AND THEY ARE WANTING TO SPEND MORE AND MORE......QUIT BLAMING BUSH OR OBAMA.........AND LET'S START BITCHIN TO WASHINGTON TO QUIT F'ING SPENDING.

[Bo D]

The deficit has been propelled by the huge sum the government has spent to combat the recession and financial crisis, combined with a sharp decline in tax revenues. Paying for wars in Iraq and Afghanistan also is a major factor.
what is so "hollow" about those words?.....

"sharp decline in tax revenues." - Because "who?" cut taxes?

"Paying for wars in Iraq and Afghanistan also is a major factor." - No comment.

[Locutus]

"sharp decline in tax revenues." - Because "who?" cut taxes?

See Bo, that's because the "cut taxes and simply borrow and spend" mentality that the republicans held for 8 years is so much better than those damn "tax and spend" democrats. 

[Gryphon]

Henry, much of our current deficit is, as she points out, "propelled by the huge sum the government has spent to combat the recession and financial crisis", which is something ole Bush didnt have to worry about. Make no mistake, this deficit worries the bejeezus out of me, but at least there is a reason for it. Ole Bush was just running up the collective credit card for....???

[Henry Hawk]

Henry, much of our current deficit is, as she points out, "propelled by the huge sum the government has spent to combat the recession and financial crisis", which is something ole Bush didn't have to worry about. Make no mistake, this deficit worries the bejeezus out of me, but at least there is a reason for it. Ole Bush was just running up the collective credit card for....???

those REASONS are NO more valid than any previous administration..........THEY always have a REASON....and it is CONGRESS that SPENDS.........My point IS.....I'm tired of ALL the reasons...

If you want to get nit picky........Bush DID have an recession ALSO when he took office....he also had 9/11 on his clock along with Katrina......

the bottom line for me is................we GOT to QUIT spending money......return the money back to the people and let THEM spend it.........because Washington is out of control.

[Locutus]

HH, let me ask you one question, simply as an example.  Given your current state of knowledge, what exactly do you think would have happened had AIG been allowed to fail?

[Bo D]

f you want to get nit picky........Bush DID have an recession ALSO when he took office....

Most experts don't think so ...

http://www.businessweek.com/magazine/content/04_08/b3871044.htm

Inventing The "Clinton Recession"
The CEA is trying to alter the start date in a way that benefits Bush.

No one should be surprised when economic or budget forecasts coming out of Washington are influenced by politics, especially during an election year. But when economic history is rewritten -- with political consequences -- that's going too far. President George W. Bush's Council of Economic Advisers, chaired by Harvard economist N. Gregory Mankiw, is trying to get away with exactly such revisionist history. The CEA's Economic Report of the President, released Feb. 9, unilaterally changed the start date of the last recession to benefit Bush's reelection bid. Instead of using the accepted start date of March, 2001, the CEA announced that the recession really started in the fourth quarter of 2000 -- a shift that would make it much more credible for the Bush Administration to term it the "Clinton Recession." In a subsequent press conference, Mankiw said that the CEA had looked at the available data and "made the call."

[Locutus]

Now don't go pointing out yet another example of BushCo and their attempts to alter "the facts" and spin it into their advantage. 

[Henry Hawk]

HH, let me ask you one question, simply as an example.  Given your current state of knowledge, what exactly do you think would have happened had AIG been allowed to fail?

I'm positive it would have not been good IF they failed...my argument is NOT bailingout AIG....I am sick and tired of wastefull spending..........we are spending billions of dollars that we no longer have.........I think the GOV spending money is never a good thing...........return the money BACK to the people and let THEM spend IF they choose too.......let recessions run their course.....they are a natural part of our economic system.  This current recession would have pulled out WITHOUT the so-called stimulus package that we just threw away.