Obama Two Month Deficit Is More Than Bush Deficit For Entire 2006 Calendar Year
Posted by Jim Hoft on Sunday, December 6, 2009, 9:03 PM
The Obama Administration is already $292 billion in the red this year.
This is more than the national deficit for the entire year of 2006 ($248 billion).
Not good.
President George W. Bush never did this.
Obama tripled the national deficit his first year in office and he’s off to a record-setting start in fiscal year 2010.
Despite the wars in Iraq and Afghanistan, Hurricane Katrina, the Clinton Recession he inherited, and the 9-11 attacks, President Bush brought down the national budget deficit from 412 billion dollars in 2004 to 162 billion dollars in 2007.
On July 11, 2006, the Bush Administration announced they were revising midyear budget estimates. They changed their projections after they discovered that greater than expected tax revenues would drop the deficit below 300 billion dollars. Budget Director Rob Portman drove home the message later that day telling reporters that this latest revision was proof that the administration’s tax cuts were working.
This wasn’t a one time event. During the Bush years, despite the 2000 Recession, the attacks on 9-11, the stock market scandals, Hurricane Katrina, and wars in Iraq and Afghanistan, the Bush Administration was able to reduce the budget deficit from 412 billion dollars in 2004 to 162 billion dollars in 2007, a sixty percent drop. In 2004 the federal budget deficit was 412 billion dollars. In 2005 it dropped to 318 billion dollars. In 2006 the deficit dipped to 248 billion dollars. And, in 2007 it fell below 200 billion to 162 billion dollars. During the Bush years the average unemployment rate was 5.2 percent, the economy saw the strongest productivity growth in four decades and there was robust GDP growth.
For some strange reason the state-run media ignored these latest deficit numbers this weekend.
Previously:
Change! Obama’s Monthly Deficit Tops Bush’s Yearly Deficit
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Horrible… Obama Tells Foolish Supporters: I’m Not Over-Spending… “I’m Running to Pay Down Our Debt”
Published May 23, 2012 at 11:51 pm - 63 Comments
Sandy commented:
It would be nice to know what the budget for the running of the White House is. Bet that party for 400 of Obama’s closest donors cost a few million.
chris commented:
So what? As the “hero” Dick Cheney once said, deficits don’t matter. Or in other words, they matter when a Democrat is in the White House, but not before.
wanumba commented:
And not a penny of it showing anywhere.
Where IS it?
Kenny Solomon commented:
He’s not the hopey-changey Dictator In Training Pants that we knew.
Now where’s that bus…………
Found it….. Dang….. Still under water in New Orleans.
Chisum commented:
chris
December 6th, 2009 | 9:12 pm | #2
So what? As the “hero” Dick Cheney once said, deficits don’t matter. Or in other words, they matter when a Democrat is in the White House, but not before.
==============================
Here you go, cupcake.
http://www.americanthinker.com/2009/08/cognitive_dissonance_a_case_st.html
Mike W commented:
Right. What does it matter to destroy the dollar. Stupid Salad Tosser wait until a million dollars wont buy you a loaf of bread and then say something as ignorant as what your saying.
DaveinPhoenix commented:
And the 4 little blips in the chart 1998-2001 were years with a Republican Majority in Congress. Eat that Chris.
Pete_Bondurant commented:
This notion that the Bush years was this wild spendfest is perpetuated by RINOs and idiot supposed republicans who are constantly on CNN or MSNBC saying, “we lost our way” or “spending got out of hand.” This is false. During the Bush administration, the defecit was cut in three of five years. Considering Bush had to deal with: 9/11, recession, corporate fraud, a tech meltdown, Iraq and Afghanistan, and hurricanes it is a pretty good record. But no, these moron supposed conservatives like that idiot Latino republican I see on CNN all the time come out and simply agree with the liberals on the panel. Everytime these people say something false, they have to be set straight.
Freddy commented:
… and as the spending rises to insane levels – Obama plots another 2.5 trillion in spending …
It is simply not possible to pretend Obama cannot understand what he is doing to this country. The question is no longer IF a new banking structure will be needed but WHEN.
Once the federal government, with its absurd politicians, break the dollar, we will get a ‘small footprint’ federal government. The constitution will survive, but the tax codes and absurd spending programs will not.
Stu commented:
The 25 people who led the way to ruin.
http://www.guardian.co.uk/business/2009/jan/26/road-ruin-recession-individuals-economy
Obama is putting it to it’s climax with his spending.
proof commented:
I can already hear liberal heads ‘sploding!
LimoLibsStink commented:
0bama:
As they say in Star Trek, “Dammit Jim, I am a snake oil salesman not an economist!” I cannot be held responsible this mountain of debt.
Look, once you take into consideration all of money going to ACORN, SEIU, vote buying programs, bailouts of my cronies, Cash for Clunkers, Stimulus Swindlus, Nancy Pelosi’s across the board political salary increases, 300 expensive advisers , 42 over-paid Czars, David Axelrod’s consulting company’s fees, George Soros carbon credit schemes, expensive gifts for Michelle, the mansion at Martha’s Vineyard, Jumbo Jet and Limousine fuel costs, cartons of cigarettes for me, repairs of cigarette burns in the White House carpet and Administrative and Over-Head expenses for all of said spending, you can see why Government’s debt has skyrocketed.
Usually, my swindles, bank shakedowns and con-games go over without a hitch. Just, like conning that stupid General McCrystal. I punked him good. Ha! He is almost as stupid as the Typical White Taxpayer. It was so easy! But, this mountain of debt is hard to hide.
My Jumbo Jet is running and Axelrod and I have to fix the ClimateGate scandal. George Soros, Axelrod, and I have a lot invested in this swindle. But, every now and then there is a jam in one of my scams. I think we are just not lying hard enough. As for the Taxpayer I say let him die under a truck load of debt.
Well, I have to look busy. I am supposed to look presidential or something. I must go. Good day.
Justin Hager commented:
Unbelievable! Of course the deficit for the first two months is extraordinarily high, TAXES HAVEN’T COME IN YET, BUSH’S WARS WITH IRAQ AND AFGHANISTAN ARE CONTINUING, 2006 WASN”T AN ECONOMICALLY DEPRESSED YEAR. Holy Crap its amazing the crap you people will buy into. Seriously, stop with the propoganda and read a book, or a newspaper, or anything that actually explains a story without singling out specific information and using it as factual evidence!
Atomic Lib Smasher commented:
In other words, just drink the Kool-Aid… right Justina?
Agent 99 commented:
Wanumba @ #4 That is what I keep asking… Where is the Stimulus Money?? Where is our Money? Where is it?
Agent 99 commented:
“Recession is when a neighbor loses his job. Depression is when you lose yours.”
— Ronald Reagan
Agent 99 commented:
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squeaky commented:
from free republic. the dems were able to over ride the reps and push through cuts to homehealth care for seniors/disabled……..
http://www.americanthinker.com/blog/2009/12/the_sad_story_the_democrats_wo.html
and as a commentor at american thinker said….
“I heard somewhere that you can judge a society by how it treats its very old and it’s very young. If that’s the case what is it saying about the way this society is heading?”
olm commented:
Well, we clearly are about to solidly be about killing our old and our young while the powerful party.
Have a drink on me, Justin.
olm commented:
Justin, one question, do you actually think there is big revenues coming in from taxes?
jainphx commented:
But, but, there’s no death panels. We can read and we read that the elderly will just be allowed to save us money by dying, oh and the young better be perfectly healthy or they have to go also.
They know exactly what this bill will do, and yet they’re going to pass it. Ladies and gentlemen, get your pitch forks.
Solaratov commented:
Agent 99
December 7th, 2009 | 3:57 am | #17
Wanumba @ #4 That is what I keep asking… Where is the Stimulus Money?? Where is our Money? Where is it?
+++++++++++++++++++++++++++++++++++++++++++++++++++
Of the original $700 billion, we know where only $350billion went. That’s the portion that was spent on bailouts by the Bush administration before Jan. 2009.
The Bush administration then handed off the remaining $350billion to the obama cabal in Jan.’09.
That remaining money has been spent – or otherwise disposed of – but NO ONE in the obama cabal or in any government agency or department can say where it went. They have made guesses – but no one knows for sure.
I suppose we can just put it down to “profit and loss” by new members of the obama cabal who were “not well-versed in government accounting procedures”. lol
I’m sure that they’ll do better with the “stimulus” TRILLION. Oh…..wait. Oh well. Perhaps with the second “stimulus” that pelosi is pushing.
And so it goes.
wilson commented:
I don’t think it’s accurate to say that “Obama tripled the national deficit his first year in office,” because it seems that there is plenty of blame to spread around.
The 2009 fiscal budget was prepared by President Bush, to fund the government from October 2008 to September 2009. President Obama didn’t even take office until January 2009. Bush’s 2009 budget was proposed in February 2008, and proposed a deficit of $407 billion; this on the heels of a $459 billion deficit for fiscal 2008. The best I can tell, the annual deficits for fiscal years 2002-2008 (all Bush budgets) were $158, $378, $413, $318, $248, $161 and $455. This is from http://www.cbo.gov/ftpdocs/100xx/doc10014/March2009_HistoricalTables.pdf.
GatewayPundit writes “President Bush brought down the national budget deficit from 412 billion dollars in 2004 to 162 billion dollars in 2007,” but he fails to note the actual and project budgets of 2008 and 2009, which were back over 2004 levels. So I think the Pundit was misleading in that regard.
As for the 2009 deficit, the Pundit’s own linked article says, “The unprecedented flood of red ink flows from several factors, including a big drop in tax revenues due to the recession, $245 billion in emergency spending on the Wall Street bailout and the takeover of mortgage giants Fannie Mae and Freddie Mac. Then there is almost $200 billion in costs from President Obama’s economic stimulus bill, as well as increases in programs such as unemployment benefits and food stamps.”
So far as I know, the Wall Street bailout occurred before Barack Obama took office, and so did the Fannie Mae and Freddie Mac takeovers. I seem to remember President Bush going on television telling the nation why these things were necessary. And I also seem to remember Henry Paulson begging on his knees for these things. I also remember then-presidential candidate John McCain suspending his campaign because things were so bad; the recession didn’t start after Obama took office. This all happened before Barack Obama took office. And it was all on top of the already projected $407 billion deficit out of the gate.
That doesn’t let Obama off the hook. But there has been a Republican administration for 20 of my 28 adult years (Reagan, Bush I and Bush II), and each of them set new deficit records. This has led me to conclude that while Republicans say they stand for deficit responsibility, they actually don’t. Maybe no one in politics does, but at this point Republicans seem pretty hypocritical to me, which is why I am now an independent instead of a Republican.