Citizen 4.0
356 Followers · 4.7K Items
Rose Iphone 5 Case
Saved 5/16/12 to Citizen 4.0

A Couple of Inconvenient Truths


Federal spending is lower now than it was when President Obama took office. I’ll pause to let you absorb the news.

In January 2009, before President Obama had even taken the oath of office, annual spending was set to total 24.9 percent of gross domestic product. Total spending this year, fiscal year 2012, is expected to top out at 23.4 percent of GDP.

Here’s another interesting fact. Taxes today are lower than they were on inauguration day 2009. Back in January 2009, the CBO projected that total federal tax revenue that year would amount to 16.5 percent of GDP. This year? 15.8 percent.

One last nugget. The deficit this year is going to be lower than what it was on the day President Obama took office. Back then, the CBO said the 2009 deficit would be 8.3 percent of GDP. This year’s deficit is expected to come in at 7.6 percent.

The fact is that Obama inherited a disaster of a federal budget. Eight years prior, when President George W. Bush took the oath of office, there was a $281 billion surplus. By the time Obama was sworn in, he was facing a $1.2 trillion deficit. Inconvenient though it may be for conservatives (especially those who are running for president), the truth is that spending, taxes and the deficit are all lower today than when President Obama took office.

http://thinkprogress.org/economy/2012/05/15/484767/obama-budget-chart/

Saved to

Citizen 4.0

Rose Iphone 5 Case ACORN Smear Costs O'Keefe What Could Possibly Go Wrong? I Do Thank the Right for Its Tepid Support of This Guy I Feel Safer Now There Will Be More Trayvons Hill GOP Struggling to Face Reality It Created
hypnoticmix hypnoticmix 2 years 18 weeks
...and there goes the sound of another marble rolling away. Electricity production has never diminished under Obama Pax and actually my PG&E bill has gone down. Obama reopened off shore drilling after the BP disaster despite more evidence of cover ups by BP still coming out. And yet again Presidents, any President has no power over oil prices. Oil prices have incrementally gone up since the 80's but of course we're suppose to think that's Obamas doing right. Boy this dude must wield more power than a Wizard of the first order.
pax4pax pax4pax 2 years 18 weeks
Obama's policies are killing US oil production and electricity production. Energy affects everything. Have you noticed that all prices are going up? Please study the banking situation more and you will see that it was socialist/statist policies in the past that brought the banks to the point of the collapse. Just as the George and Martin is working to a very different proof than screamed about by those who benefit from division and strife (like Mr. Obama), the economy and the banking situation will resolve as well -- unless the statists win this Fall and can completely silence dissent.
stephley stephley 2 years 18 weeks
Pax, you might ask someone to explain what 'smother' means, because it clearly doesn't mean what you think it does: "Maybe the U.S. economy's strength this winter wasn't just weather-related after all. Home construction is near a three-year high. And factory output has risen in three of the year's first four months. The data released Wednesday suggest growth in the April-June quarter is off to a good start, helped by falling gas prices and solid hiring gains. Fears of a spring slump are easing. "It's all very encouraging," said Paul Ashworth, chief U.S. economist at Capital Economics. "Things look good at the moment." Builders broke ground in April at a seasonally adjusted annual pace of 717,000 homes, the Commerce Department said. That nearly matches January's pace, the best since October 2008. Construction rose for both single-family homes and apartments. Some economists have noted that a warm winter led companies to move up some hiring and accelerate other activity -- including homebuilding -- that normally wouldn't occur until spring. That gave the appearance that the economy had strengthened in January and February and weakened in March. But Ashworth noted that the overall trend in housing starts has been running at roughly the same annual pace -- approximately 700,000 -- over the past six months. That's 100,000 more on average than the pace for the previous six months. Ashworth said the higher level suggests demand is increasing and the mild winter had less effect than some economists had thought." http://www.businessweek.com/ap/2012-05/D9UQ1S2G0.htm
hypnoticmix hypnoticmix 2 years 18 weeks
I find it amazing how some are quick to use the word smother but are for lack of words when it comes to the self admitted reckless excesses of the big banks. Mind you the key words there are (self admitted). I guess the freedom to do stupid $hit that F's every one over is more important than making sure those excesses have a defined boundary.
pax4pax pax4pax 2 years 18 weeks
And he is still smothering the economy. He is amazing!