Obama Raises the Debt Limit a COUPLE TRILLION

Discussion in 'Politics' started by CannabisInCanada, Feb 16, 2010.

  1. Obama says new budget rules will rein in spending | The Daily Caller - Breaking News, Opinion, Research, and Entertainment

    Privately on Friday night, President Obama signed a bill to increase the national debt limit from $12.4 trillion to $14.3 trillion.

    The administration is projecting a $1.56 trillion deficit for the budget year ending Sept. 30.

    So much for the new fiscally responsible Obama.

    The so-called “PAYGO” provision was included in the bill. The provision requires future spending increases or tax cuts to be paid for with tax increases or other spending cuts elsewhere.

    In reality, PAYGO is designed to make it easier for Congress to raise taxes faster while making it more difficult to cut spending on welfare and warfare
  2. #3 Willoweed, Feb 17, 2010
    Last edited by a moderator: Feb 17, 2010
    If Obama did it privately then how do you know about it? This is a good thing. If he didn't sign it then America would default on its debt, meaning America would have to pay more interests and investors would panic. I bet you like the congressional republicans would of thought it be good for America to go into default.
    No you liar. PAYGO means you can't start a new long term program(spending) unless you have a revenue source. Meaning you can't borrow money to start new programs. As with the health care bill 60% is financed through reducing waste in medicaid etc and the other 40% comes from taxes. Though 10% of the funding is surplus.
  3. Give me a +rep if this post surprised you... go ahead
  4. Do you realize that as much as the rightwing media would like you to believe that all of the extra defecit is all Obama's doing, in reality much of it is putting stuff on the official budget that the previous "fically conservative" President wrote checks for off budget?

    Like, um, two wars, some tax cuts, and a few other things.

    Those things were paid for through Emergency Supplemental Spending bills. That means that they were commitments the previous administration and Congress made without paying for them.

    I know, I know. I'm just playing the latest Washington game of blame it on Bush, and Obama has been President for year now, he should have figured out a way to pay for all that stuff and done it within the first 13 months of taking office because as soon as someone takes office all of the problems that exist are their fault.

    And while I'm committing the sin of blaming a problem on the person that started it, the Defecit and Debt skyrocketed under Bush while at the same time he wasn't paying for the most expensive things he did - starting two Wars and bribing voters with tax cuts.

    And when we went to war, his spokesmen said it would be paid for with Oil Revenue. Then when it came time to write the contracts and they were given to big oil companies without the tax payer getting their cut, the same spokesmen said "It would be immoral for us to take that money."

    You know, that's a great scam though. You accuse your rivals of fiscal irresponsibility, then you write checks you can't pay for, but know that they won't come due until you're no longer in office, then you blame him for the debt when he acts like a man and starts paying for it.

    It's not like Obama can unspend that money. He can't unfight the Wars. Ending them doesn't magically make the money it cost to fight them go away.

    And did you know the last time the budget was balanced - under a Democrat President no less - it was largely due to PAYGO which Bush threw out so that he could play the "kick the can down the road" game with his pet Wars and tax cuts.

    Republicans don't want PAYGO reinstated because it works. If Obama ends his first term with a balanced budget, it kinda blows the tired Republican talking point about tax and spend liberals out of the water doesn't it.

    If it didn't work and the Democrats instituted it, then it would be a huge political win for Republicans. Same thing with Healthcare Reform. If it's such a bad idea, why don't the Republicans let it go through and then run on a platform of repealing it?

    Because they know it will work and it will be hugely popular and would be a huge politcal win for the Democrats.
  5. Hey Renaldo, why did Clinton's budget deficit increase 550% his final year?
  6. I've said it before and i'll say it again, i'm not a racist, but you think a white dude fucked up? Wait till Barack gets thrown into the mix.
  7. renaldo do some research the second bush was out of office and obama and pelosi took over the national debt jumped not by a little but a LOT
  8. Yea thanks to conservative policy that sent the economy into the worst recession since the 30's.
  9. Fixed. :smoking:

    Obama = Bush more often than not.
  10. You are right. The instant that Obama took office the defecit jumped. Because one of the first things he did was put the near $trillion Wars on budget and fixed the faulty accounting scheme that Bush used to justify his tax cuts.

    The first step to solving a problem is being honest about it.

    Paying for a trillion dollar war off budget is not being honest about it. Giving tax cuts without paying for them is not being honest about a problem.

    That's why the national debt jumped, because Obama decided that he couldn't get the economy straightened out without being honest about the numbers. So he put the Wars on budget - which Bush refused to do - so that the people could see what the real debt and deficit was.

    People who are pissed off about the debt and deficit need to understand that the only slightly lower debt and deficit under Bush was because he was hiding a trillion dollar war and multi-billion dollar tax cuts in Emergency Supplementals that were not on budget - thus they were not reflected in the debt and budget deficit numbers. Until Obama put them on budget.

    Thus the instant he did that, the debt and deficit jumped by a couple of trillion dollars.

    It wasn't money he spent. It was money that the previous President spent that had never been counted as part of the budget.

  11. i think the policy you are reffering to is fannie mae and freddie mac, which in fact is liberal legislation pushed through congress by bill clinton.
  12. I couldn't agree more. Any Republican/Democrat will do the same bullshit. Republicrats and Democrats.

    Libertarian FTW. Only political party that will save our country.

    People thought Obama was the messiah, HA :laughing:

    Hes Bush V2. Mabye Mccain would have at least been a little different from Bush.

    Only politician I have ever liked is Ron Paul though.


    Wait, I'm almost done.


    Honesty... in politics?


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