Horrible… Another Trillion Dollar Deficit for Barack Obama
Posted by Jim Hoft on Wednesday, August 22, 2012, 12:19 PM
Another trillion dollar deficit for Barack Obama.
And just think, back in February 2009 Barack Obama promised to cut the deficit in half by the end of his first term.
The US deficit will top a trillion dollars again and the nation faced a double-dip recession.
The Washington Times reported:
President Obama and Congress are flirting with both a recession and a bigger jump in unemployment next year unless they head off looming tax increases and spending cuts — but doing so could mean a fifth straight year of trillion-dollar deficits, the government’s chief scorekeeper said Wednesday.
The latest update by the Congressional Budget Office shows the time for hard choices that lawmakers have feared for years is now here: Leaders must choose between economic pain and budget-tightening now, or continuing to bolster the U.S. economy with the risk of a bigger fiscal collapse later.
Already baked into the numbers is the deficit for fiscal year 2012, which will top $1.1 trillion — the fourth-straight year of trillion-dollar deficits, dating back to the end of President George W. Bush’s term and covering all of President Obama’s three and a half years in office.
“The key issue facing policy makers is not whether to reduce budget deficits,” said Douglas W. Elmendorf, director of CBO. “The question is when. The question is how.”
He said even if the economy picked up, the government will still run major deficits over the decade, meaning the fiscal imbalance is caused by the spending promises the government has made outstripping the amount of money it’s likely to raise in taxes.
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bigkahuna commented:
And he hasnt passed a budget since he has been in office…The only President to do so.
Hang this around his neck every day in ads. Obama lied the economy died.
Spider commented:
Hurray!
We are talking about the number 1, biggest issue of this election cycle!
This needs to be talked about 24/7/365
Oblamer has proved he can not resolve this problem. Replace him.
pink tie Republican commented:
Uncle Ben can print that up in a few seconds. No problemo.
befuddled commented:
The White House is cheering the findings of a new CBO analysis of the president’s budget, saying it “confirms that the President has a balanced plan to reduce our budget deficits and put the country on a fiscally sustainable path.”
Read On ABC News Radio: http://abcnewsradioonline.com/politics-news/white-house-touts-cbo-analysis-of-obamas-budget.html#ixzz24IU1JMK5
Wasn’t it just yesterday when Obama was clinging to CBO reports to prop himself up from everything from Obamacare to his fairy tale budget proposals? Here’s my budget proposal: every gets a dollar every month from the government to play the lottery and let the Hunger Games begin–start with California.
BurmaShave commented:
Even if the deficit were only $911,000,000,000, it would still be fair to call it $1T, just the same as 8.254% unemployment is fairly called 8.3.
befuddled commented:
And then he discovered that Democrats and Republicans just can’t say no to an angry black man when he’s asking for money.Was there anyone in Congress not on the take with Obama in charge of the spending? Spineless and corrupt doesn’t even begin to describe the people we have in charge of our government.
Ghost commented:
dont tell The Zero what comes after Trillion
Ripped commented:
Just another lie to add to the stack.
Flintstone F. commented:
Bush was at war, had a deficit, a spending problem and an antagonistic news media fanning the flames. War protesters were screaming about death and murder and democrats including Obama, demagogue a $400 billion (or so) budget deficit.
The world is coming to an end and the evil Bush is at the helm (says so-called MSM).
Now, Obama’s wars are worse but the protesters are gone. Obama’s deficit is beyond comprehension in comparison to anything we’ve seen in the history of this country, the senate has not done it’s duty in four years (complete incompetence on the part of Harry Reid). A trillion dollar deficit each of his years in office. 2 1/2 times Bush’s deficit every year.
We’ve entered what is termed a delicate recovery period, things are starting to move in the right direction…(Liberal mass media again, whistling past the graveyard).
The mass news media has become an enemy of the state. They’re to blame. But this sadly, is not news.
IOpian commented:
Is he going to blame this one on Bush too?
FurryGuy commented:
Presidents don’t pass spending bills, that is the responsibility of the House and Senate, they only sign or veto spending bills.
So really the deficits are the sole responsibility of a entire party, not a solitary person. After all the House, Republican controlled, HAS passed spending bills. Spending bills that Harry Reid, Democratic Senate Majority Leader, has willfully, with malice aforethought, refused to be voted on or even debated in committee.
FurryGuy commented:
Is water wet?
kato commented:
And this subprime criminal has the nerve to go around claiming he’s working to reduce the deficit.
The question remains unanswered: Is he that dishonest or is he that stupid?
bg commented:
++
OT..
August 22, 1012
Appeals Court Rules Texas Can Cut off Planned Parenthood Funding
there is a God, and we are the people, Amen..
==
Patty commented:
Just keeps getting better and better, doesn’t it. (sarc)
Patty commented:
http://raymondpronk.files.wordpress.com/2012/06/obama-as-pee-wee-herman4s.jpg
Image above.
Just about says it all.
Patty commented:
http://raymondpronk.wordpress.com/2012/08/15/obama-economic-recovery-ends-shortest-and-weakest-recovery-after-10-post-war-recessions-obama-recession-start-videos/
Scroll on down.
SoLongSong commented:
#10 Flinstone F.: “The mass news media has become an enemy of the state.”
______
AMEN, bro!
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