Obama team makes it official: Budget deficit hits record. By a lot. – The Oval: Tracking the Obama presidency — At some point they will stop blaming Bush for everything.
The Obama administration has released new deficit numbers, and they are not pretty.
The deficit for Fiscal Year 2009, which ended Sept. 30, came in at a record $1.42 trillion, more than triple the record set just last year. A year ago, as the financial crisis hit and the Bush administration prepared massive bailout plans, the deficit was $455 billion.
# 17 StoopidFlanders said, “At what point does it become acceptable to criticize the Obama administration?”
Any time you want. Of course, it will mean you are a racist…
“At some point they will stop blaming Bush for everything.”
Ha ha ha ha, that’s a good one John. The dems are always going to blame bush for everything, if they didn’t they would have to admit that they are the cause of the problems. Thats something they are never going to do.
someone explain to me…how are the “two parties” different?
#23-meetsy-how are the “two parties” different?
The two parties are like good cop, bad cop. Naturally your political leanings will determine the good cop.
In the end it doesn’t matter because they are working together and you like everyone else are their prey.
A government’s only objective is to destroy your freedom and increase it’s power.
If Obama had gone for a real stimulus package that created jobs, he’d have a better chance of getting health care passed. Instead, he went for corruption and higher unemployment, as well as a higher deficit, money that could have been used for health care.
Projected deficit for the decade is 9 trillion.
Obama could blame Bush irresponsibility IF he actually reduced the deficit, and wanted to pass the buck for the pain that was caused. Instead, he increases spending.
Just FYI, the Emergency Economic Stabilization Act of 2008 (the mega bank bailout that created TARP), was enacted October 3, 2008, which would put it in FY 09 (which started two days before on the 1st) and thus be part of the 1.4 trillion. So, yes, Bush does share a huge share of responsibility (either for signing the EESA2008, making it necessary, or both, depending on where you sit).
Sorry US dudes, you’re boned.
#28, elections of have consequences. People seemed to have forgotten that. Then again, its not like McCain was much better.
Looks like the most feared “tax and spend” democrats are in power. Better them than the don’t tax and spend even more Bushies.
Rule #1 of recession economics, the government spends more than it takes in to lessen the impact of the downturn.
What we need is another Teddy Roosevelt, or a Rockefeller republican, not that K street would allow it.
That’s odd … When Reagan and Bush set record-breaking deficits, Republicans insisted over and over again that the national debt doesn’t matter, that it’s a ultimately a fiction we don’t have to worry about.
What happened to that?
#1 for the fail
“It is taking a lot of money to keep the country from sinking into a depression, the banking industry from collapsing”
It isn’t an issue of money.
It is an issue of production.
Production creates jobs.
We have no production, therefore we have no jobs and no exports.
Which is why we have no money.
p.s. Why do people like you worry about “the blame”? The blame falls on the American people for making vote decisions on simpleton thinking, leading to extremely dumb politicians holding office. And this has gone on for a VERY long time.
… They’re blaming Bush because Bush policies helped put us in this state. Along with the fed and congress.
Argue all you want about it, Bush has the primary responsibility because HE WAS AT THE HELM.
Obama will likely have plenty of blame for his own decisions, but overall he at least is trying to get crap done instead of manufacturing a war and pointing at our allies.
The budget deficit has ballooned, but it was already projected to be 1.3 or so trillion before Obama could take office. Grow up.
Thank you #33 (Jim), you made my point exactly. And blame is shared equally with Congress, as it is they who actually make the laws and enact the policies.
Republicans and Bush said if you lower taxes on the richest Americans they will invest and create jobs, producing prosperity. So the Republican-controlled Congress passed the “Bush tax cuts”. Rich people own, manage, and operate factories. What did these rich people do after the tax cuts? They closed the factories and moved the jobs to China, India, Mexico, etc, putting American workers out of millions and millions of jobs, further reducing the American worker’s ability to generate money to spend on everything, thus creating a spiral-down effect that also helped bring on the economic crisis. I blame Congress about equally with Bush for the state of affairs we are in right now.
There is no nation on earth so dangerous as a nation fully armed, and bankrupt at home.
-Henry Cabot Lodge
We had a great presentation at my Fortune 500 employer this summer, “Preparing for Post Prosperity America”
And it was presented by a bunch of liberals who seemed to have no clue that it was THEIR idiot policies responsible for economic decline of the nation.
@ brainwaves #33, #34, #36
It isn’t the policies of the “left” or the “right” that created this mess, but the policies of both parties.
Both parties have done a terrible job for a very long time, this is why it is not only the federal government that is a mess but the state governments too.
One of the nasty facts floating is that some of the crazy greens are still saying Yah! to the bad economy. The more things cost and the more people out of jobs the less energy people use.
Most of these people work for/support Obama.
Not clear on what Obama thinks. He isn’t all that transparent.