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View Diary: Obama did not go on federal spending binge. Pace of increase now lowest it has been in decades (103 comments)

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  •  I already put this on facebook! (2+ / 0-)
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    helpImdrowning, Meteor Blades

    I prefaced it with a trap for my Republican friends

    Oh, snap! the Wall Street Journal sticks it to the Prez on spending!

    I mean, even the WSJ admits that Obama is not a big spender, once you look at the actual numbers.

    Curse you, reality, and your liberal bias!!!!

    I already got one smug comment:
    I'm curious to know how we'd reconcile the "lack of binge spending" with such a large increase in national debt. According to CBS (no GOP mouthpiece), it's gone up more in Obama's first three years than in Bush's eight.
    This commenter put the following link...

    Silly CBS article

    To which I replied with a sports analogy (it's long, I know)

    Two reasons... the CBS writer misses the main point of the WSJ's analysis--- you count fiscal years, not administration years, since it marks that president's actual budgets, without those of his predecessor. Bush's budgets took us from from 5.8 to 11.9 trillion in debt (6.1 trillion), while Obama's have taken us from 11.9 to 15.7 (3.8 trillion), so the current president has a ways to go still. Once the 2001 tax cuts expire, and now that the Iraq war is done, our deficit rate will slow further.

    The second reason is that we're stuck at the same rate of annual deficit as Bush's final budget, which was much higher than his previous ones. It makes sense that the rate ought to be faster.

    Look at it from a different perspective. Imagine you buy a baseball team, a terrible one that wins 50 games a year. You spend 8 years making acquisitions and deals, and slowly but surely you get a bit better. At the eighth year your team comes around, and you win 100 games. Over the 8 years, you've won 555 games:

    year 1: 50
    year 2: 55
    year 3: 60
    year 4: 65
    year 5: 70
    year 6: 75
    year 7: 80
    year 8: 100
    8 year total: 555

    Then you sell the team, and the new owner doesn't change anything, and still wins 100 games a year. He'll pass the 555-win mark much sooner, even if he doesn't win more than 100 games, simply because his win-rate is higher.

    In the example of our debt, the difference is even more stark--- We went from an annual deficit of negative (a surplus) in 2001, to a deficit of 1.3 trillion bucks... quite the increase. That rate that has gone down a bit. But as each year goes by, the total debt, accruing at the higher rate, still goes up.

    It will be a long time before any semblance of sanity is restored to the federal budget. The first step is sweeping Congress free of Republicans... like I said it will be a long time coming.

    I didn't just put in the facts, I added in some judgement (sanity)... haven't gotten a reply yet!

    Conservatives need to realize that their Silent Moral Majority is neither silent, nor moral, nor a majority.

    by nominalize on Tue May 22, 2012 at 05:22:38 PM PDT

    •  If the smug commenter is a right-winger (0+ / 0-)

      he/she probably doesn't understand or comprehend your response. :D

      "Too often we enjoy the comfort of opinion without the discomfort of thought." - John F. Kennedy

      by helpImdrowning on Tue May 22, 2012 at 07:37:51 PM PDT

      [ Parent ]

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