Big Louie Explains the Budget Issue

[Jackie S]

and watch all of the Obama Boot Lickers go ballistic.

Ther one flaw in your senario is the familly you speak of cannot print money. Of course, most of the Washington Crowd, including both Democrats and Republicans, do not see this as a problem. They see the ability to simply crank out more "C-Notes" as a solution.

[BigLouie]

Originally Posted by Squirrel88

http://blog.heritage.org/2011/05/27/...ng-job-growth/

Everything’s Bigger in Texas – Including Job Growth


The private sector is where its at; less bureaucracy, more opportunity to advance and the ability to create and maintain jobs even in the midst of a recession. It certainly kept Texas on its feet and winning the jobs race by a landslide in the past decade. According to a new study from the U.S. Bureau of Labor Statistics, the Lonestar state added 732,000 private sector jobs in the past 10 years, while no other state added more than 100,000. In fact, only 19 states plus the District of Columbia added any jobs at all!


What does Texas know that California and Michigan don’t? Each of those states lost 623,700 and 619,200 jobs respectively.

You missed the part further on in the article:

If you live in Texas, you know that one of the reasons Texas avoided the bubble is due to stringent regulations on lending practices that most states threw out. In other words, Texas is doing well in part because of "over-regulation". If the regulators in Texas had let bankers run wild like everywhere else in the country, they'd be in the same boat as California.

Also, talking about job creation in Texas without mentioning the boom in energy prices is sort of like talking about pricey real estate in Manhattan while avoiding the topic of Wall Street.

[BigLouie]

Originally Posted by Jackie S

and watch all of the Obama Boot Lickers go ballistic.

Everyone seems to feel the current problems are related to Obama when in fact the numbers have gone up for every president.

Let's look at the growth in the National Debt by President using an unbiased approach. This analysis uses National Debt figures from the U.S. Treasury Department and the White House Office of Management and Budget.
To be sure, there is plenty of blame to go around for the uncontrolled growth in the National Debt. For this analysis, I’ve begun with Ronald Reagan’s first term and followed it through the first year of Barack Obama’s administration. No effort has been made to cast any particular President in a favorable or unfavorable light.
The numbers below do NOT reflect the actual National Debt. Instead, they reflect the amount of the INCREASE in the National Debt during each presidential term.
> Ronald Reagan’s First Term – $656 billion increase
> Ronald Reagan’s Second Term – $1.036 trillion increase
> George H.W. Bush’s Term – $1.587 trillion increase
> Bill Clinton’s First Term – $1.122 trillion increase
> Bill Clinton’s Second Term – $418 billion increase
> George W. Bush’s First Term – $1.885 trillion increase
> George W. Bush’s Second Term – $3.014 trillion increase
> Barack Obama’s First “Year” – $1.573 trillion increase
To summarize, the National Debt increased by huge amounts under each of these presidents. The largest increase for a complete term occured during George W. Bush’s second term.

Basically, NO President has been able to stop the increase in the national debt no matter what he promises. if the Tea Party and the Republicans think they can stop this trend they are sadly mistaken. Powerful forces will never let it happen.

[WTF]

Originally Posted by BigLouie

You missed the part further on in the article:

If you live in Texas, you know that one of the reasons Texas avoided the bubble is due to stringent regulations on lending practices that most states threw out. In other words, Texas is doing well in part because of "over-regulation". If the regulators in Texas had let bankers run wild like everywhere else in the country, they'd be in the same boat as California.

Also, talking about job creation in Texas without mentioning the boom in energy prices is sort of like talking about pricey real estate in Manhattan while avoiding the topic of Wall Street.

Don't confuse people with facts BL, they only read the part that reinforces their beliefs!

[wikdj]

Originally Posted by BigLouie

Really? Here are a few facts about Texas, everyone's favorite right to work state.

Texas ranks 46th in income disparity -- Of the all the jobs in Texas created last year, 37 percent paid at or below minimum wage -- and the state leads the nation in total minimum wage workers, according to a recent New York Times report.

I'll compare the employment rate in Texas to Wisconsin and Michigan any day.

[TX Bulldog]

Originally Posted by dearhunter

You could take all of the money from the wealthy and it would not solve the problem.......slash it all.

Defense
Welfare
Medical
SS
Regulations

Take serious heed of the prophet, he is wise.

[BigLouie]

Originally Posted by dearhunter

You could take all of the money from the wealthy and it would not solve the problem.......slash it all.

Defense
Welfare
Medical
SS
Regulations

And just who is going to slash it all? The Republicans? Don't make me laugh. Here is some food for thought.

President Bush presided over the largest overall increase in inflation-adjusted federal spending since Lyndon B. Johnson. Even after excluding spending on defense and homeland security, Bush is still the biggest-spending president in 30 years. His 2006 budget didn't cut enough spending to change his place in history, either. Total government spending grew by 33 percent during Bush’s first term. The federal budget as a share of the economy grew from 18.5 percent of GDP on Clinton’s last day in office to 20.3 percent by the end of Bush’s first term. The Republican Congress enthusiastically assisted the budget bloat. Inflation-adjusted spending on the combined budgets of the 101 largest programs they vowed to eliminate in 1995 has grown by 27 percent. The GOP was once effective at controlling nondefense spending. The final nondefense budgets under Clinton were a combined $57 billion smaller than what he proposed from 1996 to 2001. Under Bush, Congress passed budgets that spent a total of $91 billion more than the president requested for domestic programs. Bush signed every one of those bills during his first term. In Bush’s budget exactly as proposed, not a single cabinet level agency was smaller than when Bush assumed office. Republicans could reform the budget rules that stack the deck in favor of more spending. Unfortunately, senior House Republicans are fighting the changes. The GOP establishment in Washington today has become a defender of big government.

[Squirrel88]

Originally Posted by BigLouie

> Ronald Reagan’s First Term – $656 billion increase
> Ronald Reagan’s Second Term – $1.036 trillion increase
> George H.W. Bush’s Term – $1.587 trillion increase
> Bill Clinton’s First Term – $1.122 trillion increase
> Bill Clinton’s Second Term – $418 billion increase
> George W. Bush’s First Term – $1.885 trillion increase
> George W. Bush’s Second Term – $3.014 trillion increase
> Barack Obama’s First “Year” – $1.573 trillion increase

Evidently you have trouble reading also. 'George W. Bush’s Second Term (4 years) – $3.014 trillion increase.' While Hussein Obama's FIRST YEAR was $1.573 trillion increase. He just had a 2.1 trillion dollar raise in the ceiling. Let see if I can get this right, i am not good in math. 1.5 trillion plus 2.1 trillion equals... hmm... let me get out my calculator. Calculator says 3.6 trillion in TWO and a half years. Which means he is on track of raising it 5 - 7 trillion by the end of his term in office. Hmmm.. that means that Obama has already raised the ceiling more in his first 2 1/2 years than Bush did during his whole 4 year second term. But hey, I blame Bush just as much as I do Obama for getting us into this mess.

I think we need to go back to the Reagan or Clinton years for the size of government.

[TX Bulldog]

In case anyone wants to get in the weeds as to where the money comes from. Using 09 numbers, It would take about 8 yrs if you take all of the AGI from folks making 200k or higher to pay down the deficit to zero (as it stands now). Thats not even taxable income, meaning personal exemptions and standard deductions are not deducted. All of the taxable income would take about 10 years. This ignores current credits which would make it even longer.

http://www.irs.gov/taxstats/indtaxst...,00.html#_grp3

[LexusLover]

Originally Posted by BigLouie

If you live in Texas, you know that one of the reasons Texas avoided the bubble is due to stringent regulations on lending practices that most states threw out. In other words, Texas is doing well in part because of "over-regulation".

Local banks only. Not all banks.

[houtxgent]

from what i've read, you can't put this ALL on Obama. However, it is correct to point out his inconsistencies about "business as usual". he's totally business as usual.

seriously though. read his book. make up your own mind with his words about who he is and what he stands for. take a look at who he surrounds himself with. same with bush jr.

[THETAXMAN]

the problem with the government is that the all of the politicians are out of control.
The Democrats controled congress the last 2 years of Bush's term and goosed up spending because they knew Bush did not have the stones to veto the spending. This allowed our current president to spend with out any controls since his first 2 years he had all 3 branches of govt. If you need any porof that both sides are out of control just look to Ms Nacy Pelosi. During the Healthcare debate it was we have to pass the bill to know what's in the bill. A couple of days before the debt ceiling bill was going to be voted on she was demanding to know every detail of the bill before she could vote on it. Politicians only care about what they want not what is best for the whole of the country. The politicians are all cowards and the media which is suppose to be the watchdog of government are the biggest group of cowards out there. They should be independent of bias but they have all aligianed themselves either on the left or the right. We are Rome my friends and the outskirts of the empire are starting to catch fire. If we do not get govt spending under control we will not be a republic with 50 years. As for an earlier comment that SS & Medicare are solvent, thanks for the laugh. The govt has raided those so called fund and the only thing left is IOU's that we will all have to pay through higher taxes. My 2 cents