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  1. #1
    SoonerFans.com Elite Member cleller's Avatar
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    Obama, debt, and history

    I saw this caption on someone's Facebook page recently, and figured it was probably something hokey:



    After a little internet research, I found its actually fairly accurate. Of course, there are estimates and fuzzy areas, but it does represent the type of massive debt we have incurred under Obama. Is it part of a sound economic plan that has forestalled a great economic disaster, or a huge tab we won't be able to pay back?

    Maybe this is old news to some here, still something to ponder.

    A decent effort at fact checking the claim, in my opinion. (Heck, they won a Pulitzer)
    http://www.politifact.com/truth-o-me...d-more-debt-4/

  2. #2
    Sooner All-World olevetonahill's Avatar
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    Re: Obama, debt, and history

    Why I asked in my thread can we afford another 4 years of this?
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  3. #3
    SoonerFans.com Elite Member Chuck Bao's Avatar
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    Re: Obama, debt, and history

    Seriously, do you really believe what you are posting? We were talking about a global economic collapse when President Obama took office. At that time, we were talking about 5-7 years for economic recovery. Some of the deficit spending bailouts were already committed by President Bush. Deducting that Obama is solely responsible for the deficit is very dis-ingenious.
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  4. #4
    SoonerFans.com Elite Member
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    Re: Obama, debt, and history

    Quote Originally Posted by Chuck Bao View Post
    Seriously, do you really believe what you are posting? We were talking about a global economic collapse when President Obama took office. At that time, we were talking about 5-7 years for economic recovery. Some of the deficit spending bailouts were already committed by President Bush. Deducting that Obama is solely responsible for the deficit is very dis-ingenious.
    True...but it also shows that he had basically unlimited spending during his term...and still didn't achieve goals set by himself...

  5. #5
    SoonerFans.com Elite Member cleller's Avatar
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    Re: Obama, debt, and history

    Obviously the graphic is sensational, intended to inflame and all that jazz.

    I'm not saying Obama is responsible for all the economic ills, just wondering if this strange mathematical phenomena is correct. I did allow that it was possibly part of a sound plan to sidestep a giant collapse.

    If you're talking about inheriting a 6 trillion deficit, then running it up to over 12 trillion, that's some outer-space figures. When does it become so much its malfeasant?

  6. #6
    Sooner All-World olevetonahill's Avatar
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    Re: Obama, debt, and history

    To me , At this point, It dont matter whos ****in fault it is. Its a simple fact of can we sustain this level of Debt
    Our Credit rating has already taken a hit,
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  7. #7
    SoonerFans.com Elite Member Chuck Bao's Avatar
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    Re: Obama, debt, and history

    Quote Originally Posted by olevetonahill View Post
    To me , At this point, It dont matter whos ****in fault it is. Its a simple fact of can we sustain this level of Debt
    Our Credit rating has already taken a hit,
    And our credit rating is going to take a few more hits from the pipe regardless of who is in the White House. What's your point, again?
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  8. #8
    SoonerFans.com Elite Member
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    Re: Obama, debt, and history

    Quote Originally Posted by Chuck Bao View Post
    And our credit rating is going to take a few more hits from the pipe regardless of who is in the White House. What's your point, again?
    If they started addressing the problems now there would be no hits to the credit rating...

  9. #9
    Sooner All-Big XII-2-1+1-1+1 diverdog's Avatar
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    Re: Obama, debt, and history

    Quote Originally Posted by cleller View Post
    I saw this caption on someone's Facebook page recently, and figured it was probably something hokey:



    After a little internet research, I found its actually fairly accurate. Of course, there are estimates and fuzzy areas, but it does represent the type of massive debt we have incurred under Obama. Is it part of a sound economic plan that has forestalled a great economic disaster, or a huge tab we won't be able to pay back?

    Maybe this is old news to some here, still something to ponder.

    A decent effort at fact checking the claim, in my opinion. (Heck, they won a Pulitzer)
    http://www.politifact.com/truth-o-me...d-more-debt-4/

    If you truly believe that all that debt was incurred by Obama then you are clueless. He did not start at zero and the forward projected annual debts coming out of the Bush administration were over a trillion dollars. You might be able to make a decent argument that he is responsible for about $2.5 trillion of that debt. Of course that would include renewing the Bush tax cuts.
    Last edited by diverdog; 4/14/2012 at 09:26 PM.

  10. #10
    Sooner All-Big XII-2-1+1-1+1 diverdog's Avatar
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    Re: Obama, debt, and history

    Quote Originally Posted by olevetonahill View Post
    To me , At this point, It dont matter whos ****in fault it is. Its a simple fact of can we sustain this level of Debt
    Our Credit rating has already taken a hit,
    1. Actually we can sustain this level of debt. I do not like it but the payment on the interest on the debt as a percentage of GDP is lower than when Reagan was in office.

    2. The credit rating agencies are a POS. They have zero credibility.

  11. #11
    Sooner All-World StoopTroup's Avatar
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    Re: Obama, debt, and history

    Romney Saves!



  12. #12
    SoonerFans.com Elite Member
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    Re: Obama, debt, and history

    Quote Originally Posted by diverdog View Post
    1. Actually we can sustain this level of debt. I do not like it but the payment on the interest on the debt as a percentage of GDP is lower than when Reagan was in office.

    2. The credit rating agencies are a POS. They have zero credibility.
    It didn't help when our Leader in Charge blasted them for their roll in the recession...so now they will use the tighter standards that Leader in Charge wants used...and then Leader in Charge will cry like a baby and point and spit if credit gets downgraded...

    Leader in Charge has never heard the old saying...."Don't burn no bridges!"

  13. #13
    SoonerFans.com Elite Member
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    Re: Obama, debt, and history

    Oh, we can sustain current debt levels...at current interest rates...

  14. #14
    SoonerFans.com Elite Member cleller's Avatar
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    Re: Obama, debt, and history

    Quote Originally Posted by diverdog View Post
    If you truly believe that all that debt was incurred by Obama then you are clueless. He did not start at zero and the forward projected annual debts coming out of the Bush administration were over a trillion dollars. You might be able to make a decent argument that he is responsible for about $2.5 trillion of that debt. Of course that would include renewing the Bush tax cuts.
    From USA Today: 3-19-12

    Since taking office on Jan. 20, 2009, the federal debt under Obama has increased by $4.93 trillion, according to Treasury Department figures.
    http://content.usatoday.com/communit...that-of-bush/1

  15. #15
    Sooner All-Big XII-2-1+1-1+1 diverdog's Avatar
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    Re: Obama, debt, and history

    Quote Originally Posted by cleller View Post
    From USA Today: 3-19-12

    Since taking office on Jan. 20, 2009, the federal debt under Obama has increased by $4.93 trillion, according to Treasury Department figures.
    http://content.usatoday.com/communit...that-of-bush/1
    I do not care who would have taken office the deficit would have been over a trillion dollars. We were shedding 750,000 jobs when Bush left office, tax revenues were tanking, most of the so called bailout was tax cuts or infusions of cash into state governments and then there was the second round of bailouts under Obama that were started under Bush. On top of all that the engine that drives the US economy, the housing market, was in the toilet.

    Obama's problem is that he won the election way to early. It would have been better to have McCain win so the Republicans would have had a chance to wallow in the **** they created.

  16. #16
    Sooner All-World StoopTroup's Avatar
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    Re: Obama, debt, and history

    Quote Originally Posted by cleller View Post
    From USA Today: 3-19-12

    Since taking office on Jan. 20, 2009, the federal debt under Obama has increased by $4.93 trillion, according to Treasury Department figures.
    http://content.usatoday.com/communit...that-of-bush/1
    I noticed that article also had this in it...

    During the Bush years, the national debt went up by $4.89 trillion.
    The total federal debt now exceeds $15.5 trillion.
    How do they say that old saying...."Once you get that forward momentum going....it's a hell of a lot harder than you think to get it stopped".

  17. #17
    SoonerFans.com Elite Member Turd_Ferguson's Avatar
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    Re: Obama, debt, and history

    Quote Originally Posted by StoopTroup View Post
    How do they say that old saying...."Once you get that forward momentum going....it's a hell of a lot harder than you think to get it stopped".
    Never heard that saying...

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  18. #18
    Sooner All-World StoopTroup's Avatar
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    Re: Obama, debt, and history

    Quote Originally Posted by Turd_Ferguson View Post
    Never heard that saying...
    A rolling stone gathers no moss?

  19. #19
    SoonerFans.com Elite Member Turd_Ferguson's Avatar
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    Re: Obama, debt, and history

    Quote Originally Posted by StoopTroup View Post
    A rolling stone gathers no moss?
    Now that one, I've heard...

    OleVet Posse Instigator

  20. #20
    Sooner All-World StoopTroup's Avatar
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    Re: Obama, debt, and history

    How's this one....I think it's what some folks have been trying to say...



    "Unfortunately we're not at a place where we can balance the budget in the short term unless there is tremendous economic growth," said Maya MacGuineas, the group's president. She added that the goal should be to keep the rate of debt accumulation below the economy's growth rate.
    I know it comes from the Huffinton Post and it makes your eyes burn but I was reading the part about analyzing the plans and was shocked to see the difference they state Romney's plan will increase the debt as 250 billion over the years 2012-2021 is much more palatable than the others....but If Obama could get some taxes raised and the Economy kick started over the next 4.5 years....it might be that he stands a chance of stopping the debt from rising, which they state the Romney Plan won't unless the Economic Growth is even greater under his Presidency. Sounds like two conflicting Ideals and Romney want's to spend billions getting rid of Obamacare when he was the creator of Romneycare. Now...we all agree that most Politicians are telling you what you want to hear....so I guess it gets down to who do you trust more. They guy that didn't deliver "Hope and Change" or the guy that has eliminated Jobs and Companies for his own personal gain?

    Now I know that many of you don't think President Obama can pull that off but the thing is....for the debt to stop rising or even reducing.... keeping the rate of debt accumulation below the economy's growth rate sounds like a pretty plausible solution for all of them IMO.


    http://www.huffingtonpost.com/2012/0...n_1297018.html

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