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  • Jug 1st POTUS to spend $4T in 1 year

    (CNSNews.com) - In the historical tables it released along with President Barack Obama's fiscal 2014 budget proposal this morning, the White House Office of Management and Budget revealed that in fiscal 2016, under the president's budget proposal, it expects Obama to become the first president in the nation's history to preside over a federal government that spends more than $4 trillion in one year.

    The OMB's historical tables also reveal that the White House does not expect this administration to ever run an annual deficit as low as $458.5 billion, which was the deficit the government ran in fiscal 2008, the last fiscal year completed before Obama took office.

    According to OMB's tables, the federal government would spend$3.7778 trillion in fiscal 2014 under Obama's budget proposal. It would then spend $3.9801 trillion in fiscal 2015; $4.0898 trillion in fiscal 2016; and $4.2474 trillion in fiscal 2017.

    Obama will leave office on Jan. 20, 2017, about four months into fiscal 2017.

    In fiscal 2007, according to the OMB's tables, the federal government ran a deficit of $160.7 billion. In fiscal 2008, that climbed to $458.5 billion.

    In fiscal 2009, the government ended up running a deficit of $1.4126 trillion. In fiscal 2010, it ran a deficit of $1.2943 trillion; in fiscal 2011, it ran a deficit of $1.2995 trillion; in fiscal 2012, it ran a deficit of $1.0869 trillion; and, in fiscal 2013, OMB projects a $972.9 billion deficit.

    Link

    Why it's historic!!! Obama is awesome.



    Disclaimer: My threads and posts are created to allow forum members to discuss interesting subject matter.

    I reserve the right to change my decisions at anytime.

  • #2

    So your criticizing the President for what might happen in four years?

     

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    • #3

      From $3.6 trillion to $4 trillion? Wow! That's the biggest increase ever!

       

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      • larry50
        larry50 commented
        Editing a comment

        Please try not to confuse the troll with the actual facts.  It might precipitate a lethal form of cognitive dissonance.   Sort of like when the Martian heads explode when they hear bad rock and roll in "Mars Attacks".


    • #4

      Hello Visconti/Wyn, is copying and pasting threads from RightNation.us a hobby of yours?

      I mean, I know you post on RightNation as Wyn and have been posting on Harmony Central with various names for years, but do you actually get some enjoyment out of this? Some sense of accomplishment? Is it because you are retired and all of your actual life accomplishments are quickly shrinking in the rear view mirror of your little yellow Yamaha? Does the big man in the yellow jacket hop off of his little yellow Yamaha, wipe his brow, carress his mustache, then rush inside the front door of his little blue home, firing up his computer to see what the latest goodies have been posted to RightNation so that he can bring them to Harmony Central in order to generate as many irate responses as possible?

      Is that really an accomplishment, Wyn? Is this what you want to be remembered for? Trolling the internet as you wither away to old age, alone?

      I know I rarely engage in direct discourse with you on RightNation, but your penchant for bringing that dirt from RightNation to Harmony Central really leaves me wondering. Why?


      Visconti wrote:

      (CNSNews.com) - In the historical tables it released along with President Barack Obama's fiscal 2014 budget proposal this morning, the White House Office of Management and Budget revealed that in fiscal 2016, under the president's budget proposal, it expects Obama to become the first president in the nation's history to preside over a federal government that spends more than $4 trillion in one year.

      The OMB's historical tables also reveal that the White House does not expect this administration to ever run an annual deficit as low as $458.5 billion, which was the deficit the government ran in fiscal 2008, the last fiscal year completed before Obama took office.

      According to OMB's tables, the federal government would spend$3.7778 trillion in fiscal 2014 under Obama's budget proposal. It would then spend $3.9801 trillion in fiscal 2015; $4.0898 trillion in fiscal 2016; and $4.2474 trillion in fiscal 2017.

      Obama will leave office on Jan. 20, 2017, about four months into fiscal 2017.

      In fiscal 2007, according to the OMB's tables, the federal government ran a deficit of $160.7 billion. In fiscal 2008, that climbed to $458.5 billion.

      In fiscal 2009, the government ended up running a deficit of $1.4126 trillion. In fiscal 2010, it ran a deficit of $1.2943 trillion; in fiscal 2011, it ran a deficit of $1.2995 trillion; in fiscal 2012, it ran a deficit of $1.0869 trillion; and, in fiscal 2013, OMB projects a $972.9 billion deficit.

      Link

      Why it's historic!!! Obama is awesome.




       

      http://www.rightnation.us/forums/index.php?showtopic=192054


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      Posted Yesterday, 11:57 AM

      OMB: Obama Will Become First President to Spend $4T in One Year
      April 10, 2013
      CNS News
      Excerpt:

      (CNSNews.com) - In the historical tables it released along with President Barack Obama's fiscal 2014 budget proposal this morning, the White House Office of Management and Budget revealed that in fiscal 2016, under the president's budget proposal, it expects Obama to become the first president in the nation's history to preside over a federal government that spends more than $4 trillion in one year.

      The OMB's historical tables also reveal that the White House does not expect this administration to ever run an annual deficit as low as $458.5 billion, which was the deficit the government ran in fiscal 2008, the last fiscal year completed before Obama took office.

      According to OMB's tables, the federal government would spend$3.7778 trillion in fiscal 2014 under Obama's budget proposal. It would then spend $3.9801 trillion in fiscal 2015; $4.0898 trillion in fiscal 2016; and $4.2474 trillion in fiscal 2017.

      Obama will leave office on Jan. 20, 2017, about four months into fiscal 2017.

      In fiscal 2007, according to the OMB's tables, the federal government ran a deficit of $160.7 billion. In fiscal 2008, that climbed to $458.5 billion.

      <snip>

      In fiscal 2009, the government ended up running a deficit of $1.4126 trillion. In fiscal 2010, it ran a deficit of $1.2943 trillion; in fiscal 2011, it ran a deficit of $1.2995 trillion; in fiscal 2012, it ran a deficit of $1.0869 trillion; and, in fiscal 2013, OMB projects a $972.9 billion deficit.

      Article


      Also, nominal spending is meaningless. Nominal spending has increased under many presidents, including Reagan.

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      • #5

        The fact is, that it is evident, from the inaction. that most people really aren't seeing the problem of national debt as being bad enough to take the necessary measures to correct it. For most, the country is cruising along, just good enough, not to effect them on a major way. Any form of "austerity" is basically 100% unthinkable & forbidden to most, if it effects them in anyway. This is another place to add  "blame"/place responsibility(or irresponsibility).

        No doubt about it, 0bama is a sorry President, but in the end, he is only building debt that the house & senate has approved. These are 2 more places to add "blame"/place responsibility(or irresponsibility).

        As a whole, the failure to control spending or to even address spending, in a serious manner, is a failure of the nation as a whole....but 0bama will get the "blame" for seeming to do nothing more than what is the current will of the people,

        ''All that is necessary for the triumph of evil is that good men do nothing"--Edmund Burke
        Man created science to create what man wants science to create.

        Comment


        • Used2BMarkoh
          Used2BMarkoh commented
          Editing a comment

          stratosaurus wrote:

          The fact is, that it is evident, from the inaction. that most people really aren't seeing the problem of national debt as being bad enough to take the necessary measures to correct it. For most, the country is cruising along, just good enough, not to effect them on a major way. Any form of "austerity" is basically 100% unthinkable & forbidden to most, if it effects them in anyway. This is another place to add  "blame"/place responsibility(or irresponsibility).

          No doubt about it, 0bama is a sorry President, but in the end, he is only building debt that the house & senate has approved. These are 2 more places to add "blame"/place responsibility(or irresponsibility).

          As a whole, the failure to control spending or to even address spending, in a serious manner, is a failure of the nation as a whole....but 0bama will get the "blame" for seeming to do nothing more than what is the current will of the people,


          Yeah, I heard a statistic on the news yesterday, something like, we've run a deficit in 60 of the last 65 years.  I turned to my ever loving wife and said "ever loving wife, this is why nobody thinks it's a problem.  It's been this way all our lives"

          But it does have to hit the wall at some point, doesn't it?

           

           


      • #6
        OP said:

        The OMB's historical tables also reveal that the White House does not expect this administration to ever run an annual deficit as low as $458.5 billion, which was the deficit the government ran in fiscal 2008, the last fiscal year completed before Obama took office.


        This is a blatant lie. FY2009 was put in place by Bush. $1.4 Trillion deficit.

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        • #7
          Stratosaurus; 3% of GDP is the figure most economists think is an acceptable level of annual deficit to operate under. Some will even argue its preferable to being in balance for maintaing economic growth.
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