Obama: 'The Truth Is, Our Deficits Are Already Shrinking'

[CuteOldGuy]

He really is living in a bizarro world, or he is convinced that people will believe bullshit if it comes from his mouth. How does he get away with the most ridiculous lies ever spoken in public by a President?

Here's the article:

In his weekly radio address, President Obama explained the budget he'll rollout next week, and said, "the truth is, our deficits are already shrinking."

"My budget will reduce our deficits not with aimless, reckless spending cuts that hurt students and seniors and middle-class families – but through the balanced approach that the American people prefer, and the investments that a growing economy demands," said Obama.

"Now, the truth is, our deficits are already shrinking. That’s a fact. I’ve already signed more than $2.5 trillion in deficit reduction into law, and my budget will reduce our deficits by nearly $2 trillion more, without harming the recovery. That surpasses the goal of $4 trillion in deficit reduction that many economists believe will stabilize our finances."

Obama is here referring to our yearly deficits, not the sum total of our debt, which is growing at an astonishing pace.

The truth is, our debt continues to grow.

When Obama became president, on Janaury 20, 2009, the debt was $10,626,877,048,913.08. The total outstanding public debt is now, according to the federal government, $16,798,051,589,934.68.

Since Obama became president, debt has increased by more than $6 trillion.

Hey, I didn't vote for this guy.

http://www.weeklystandard.com/blogs/...ng_714619.html

[JD Barleycorn]

How do you tell when Obama is lying? Is he talking again? He's lying.

[Yssup Rider]

What's the difference between the deficit and the national debt? Maybe you only lightly touched upon it.

Compare apples and apples, boys.

Obama talked about shrinking the deficit in his address. You're ragging on him for something different. He also didn't cure cancer.

If we had a deficit free economy today, wouldn't the debt continue to rise?

Where is the lie?

More fear mongering and misdirection from the Choad Warriors!

[JD Barleycorn]

Where did I mention anything about deficits and debts Whatzup? I didn't. The debt is getting bigger. The deficit (the annual shortfall of the budget (spending) compared to taxation (revenues) is also growing but since we have no budget there is not direct link to go to. What we can look at is that spending has grown every year and revenues have declined every year. The math says you have to have larger differences (the deficit) as you go forward.

[CJ7]

http://news.investors.com/blogs-capi...rld-war-ii.htm

[Yssup Rider]

Originally Posted by CJ7

http://news.investors.com/blogs-capi...rld-war-ii.htm

So who's the liar now, BSwine?

You and Whiny continue to take shit out of context and spin lie another lie. Neither of you are clever enough to hide your hypocrisy.

[JD Barleycorn]

What CJ just did was effective. It got me to do further research within the stupidity of Whatzup. Here is what I found; deficits have gone down in the last three years but are predicted to increase next year. http://www.cbo.gov/sites/default/fil...98-Nov-MBR.pdf (see the chart at the bottom of the second page). I also noticed that like I wrote revenues have decreased but are starting to increase but have yet to reach 2008 levels. (see the first chart on the same link) Okay, where was the claimed decrease and how much was it? The military took a hit (but then the Iraq war ended on the Bush plan didn't it), Medicare took a hit (that money that went to Obamacare), Medicaid took a hit, and unemployment compensation took a major hit. Now the deficit was somewhat offset by money used from the TARP (see the chart on the second page).
One way to figure the deficit is as a percentage of the GDP as the author of this article did. When the GDP was down the percentage was higher but the actual amount has not changed that much. This year the deficit is still expected to be over a trillion dollars and higher next year. Maybe at this instance in time Obama can be given credit for having a shrinking deficit but what about next year when the full force of Obamacare kicks in? I also have to point out that most of the shrinkage occurred with a GOP House where spending bills are supposed to originate.

http://www.weeklystandard.com/blogs/...ng_714619.html

http://news.investors.com/blogs-capi...rld-war-ii.htm

http://www.usgovernmentdebt.us/us_deficit

http://www.cbo.gov/sites/default/fil...98-Nov-MBR.pdf

To conclude; Obama is right on this one thing for this moment in time. Does he deserve the credit which is what he was after? I have look at the House and the TEA Party contingent for dragging the speed of Obama spending. After all, Obama has been proposing spending, spending, and more spending and that is not how you decrease deficits.

As a kick in the ass to the fool above, I spent about 30 minutes working on the research and writing this. So he posted after I started my retort. Whatzup proves what I said above about his brain power.

[CJ7]

theres the spin you wanted Yssup

[Little Stevie]

First they try to switch the conversation from deficit to debt and then when that fails, they try to pooh-pooh the FACT that Obama has reduced the deficits at a greater percentage than any measures the Teapublicans had undertaken during Bush's two terms. They also continue to fight the veryactions that Obama's policies are accomplishing without hurting the middle and lower income citizens or stalling the slow but steady economic recovery.

The Ryan/Ayn Rand/Teapublican "plan" would heap far more damage on the middle and lower classes with their austerity programs based on Draconian spending cuts to social services. At the very same time, they want to give even more money and tax breaks to elite corporations. In addition they also want to dole out an already-overstuffed piece of the pie to the military.

Barley for Brains and COF continue to fulfill their paid roles as serial liars hired to distract from the truth as they coddle big business and preach "pseudo-libertarianism".

A band of idiots, they and their followers are.

[Guest123018-4]

Deficit is what adds to the debt, The higher the deficit, the more money has to be borrowed or I should say printed, in order to continue spending at the same levels including all of the give-aways to entities that we should not fund at all.
A shrinking deficiet does not reduce the debt but continues to add to it although not as fast or in as great of scale.

The fact is, the deficit should have been reduced along time ago according to Obama that has claimed huge savings from ending the war in Iraq, how long ago?
The , or a problem is that if we did not have the money to spend in the first place according to Obama that claimed we financed the war wi9th a credit crad from China, we should not have claimed the savings as spendable revenue to finance his social engineering plans.

Reducing the deficit only reduces the rate of debt growth and little more.

[JD Barleycorn]

Stevie you blew it. Why didn't the Tea party do anything during Bush's two terms...Do I have to really point out that the Tea Party didn't exist under Bush. The people were there and we were vocal but the Tea Party didn't exist and that means that no Tea Party people were in the House.

You blame austerity programs...what would you do? We have to cut spending and not just the growth of spending. You want to call it austerity because Obama sold you on that but what is wrong with just cutting the fat, the waste, the fraud, and the duplication from the government. According to the CBO the government wastes almost a quarter of a billion dollars annually through the above problems. So tell me Stevie, what would you do? More of the same?

[chefnerd]

Gee, could it be that the TEA Party did nothing during Bush's tenure be the fact that IT DID NOT EXIST. The TEA Party came into existence after Obama took office in 2009. The only time travel that I am familiar with is associated with science fiction.

http://www.britannica.com/EBchecked/...Party-movement

Also, you may want to get a slightly more recent estimate from the CBO, which predicts deficits to decline over the next few years, but by 2023, due to an aging population, future increases in health care, subsidies for health insurance and rising interest payments on the debt, the deficits will then radically increase. This is assuming no changes in current tax laws and no desperately needed changes in various government programs.

http://www.cbo.gov/publication/43907

[Yssup Rider]

Whine all you like BSwine. Sometimes you've got to accept the truth as fact.

You are now officially in Whiny's corner!

speaking of the corner, 2Dogs, the thread was an attack by Whiny, calling Obama a liar for claiming to reduce the deficit. The deficit has been reduced.

are you trying to hijack the thread?

[CuteOldGuy]

Uh, the deficit has been over a trillion dollars each year since Obama took office. In 2013, the projection is slightly less than one trillion dollars, which will most like be revised upward. If you want to be proud of this "shrinking" deficit, more power to you. Good luck with that.

[Yssup Rider]

Links?