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View Full Version : Bush's last budget (FY2009): $1.37T deficit... Obama's first budget (FY2010): $1.26T



Carol
09-13-2010, 10:54 PM
link (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9129027)

Someone can correct me if I'm wrong......but.........didn't the Democrats refuse to submit a 2009 budget until AFTER Obama was is office?

So just HOW is that suppose to be President Bush's deficit?

And just WHO was in the majority at that time? Right. Democrats........it's THEIR budget.


scheming daemons Donating Member (1000+ posts) Mon Sep-13-10 10:42 PM
Original message
Bush's last budget (FY2009): $1.37T deficit... Obama's first budget (FY2010): $1.26T deficit



http://www.bloomberg.com/news/2010-09-13/budget-deficit...


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The gap for the fiscal year that started in October was $1.26 trillion compared with $1.37 trillion last year at the same time.
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The non-partisan CBO forecasts the budget deficit will amount to 9.1 percent of gross domestic product this year, only exceeded in the past 65 years by 2009ís 9.9 percent.
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Last month, the Treasury lowered its estimate for government borrowing from July through September, reflecting a reduction in federal spending.
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Yes... Obama's first deficit is the second-largest on record.... but Bush's last one was the largest. Obama also inherited an economy on the ropes, and that $1.4T deficit. Bush inherited a booming economy and a $250 billion surplus.


Just like the pattern since the 70s... Democratic President inherits a large deficit... Democratic President begins to reduce that deficit...Republican President increases the deficit again... Democratic President inherits that and turns it into a surplus... Republican President screws that up again... Democratic President comes in and begins getting the fiscal house in order again.

You'd hope the American people would finally start to wise up: GOP Presidents blow the budget out of the water, and Democratic Presidents clean up the mess.

Time and time again.

warpig
09-13-2010, 11:10 PM
Oh gee, File Not Found...............from the DU....imagine that.

They are cooking their numbers.

http://www.bloomberg.com/news/2010-09-13/budget-deficit-in-u-s-narrows-13-to-90-5-billion-on-rising-tax-receipts.html


Budget Deficit in U.S. Narrows 13% to $90.5 Billion on Rising Tax Receipts

The gap for the fiscal year that started in October was $1.26 trillion compared with $1.37 trillion last year at the same time.

The economic recovery has helped generate more tax revenue for the Treasury, even as the Congressional Budget Office forecasts the deficit this fiscal year will reach $1.34 trillion, the second-largest on record.

djones520
09-14-2010, 02:32 AM
DUmmies get it wrong again. The Bush Budget had a forecasted $400b deficit.

Then Obama took over.

And as I told Satanicus again and again, the Dems and Obama controlled the red pen from Jan 20th on. They at any time could have frozen spending when they realized tax receipts weren't going to be as high. But no, despite that they still made the deficit climb even more.

Furthermore, not a single House Republican voted for the 2009 budget. Dems carried it through all on their shoulders. Only 2 Republicans in the Senate voted for it.

So this is again on the Dem's shoulder. Because it is the budget, President Bush doesn't get to sign it.

Following Obama's swearing in, Congress passed 5 appropriations bills under the 2009 Fiscal Year.

An interesting note, looking through the passed budget, it says that an "Appropriate Level of Debt Subject to Limit for the US in 2010" was 10.7 Trillion dollars. Kinda blew that one out of the water.

Anyone can read whatever they like regarding the final passed budget here.

http://thomas.loc.gov/cgi-bin/cpquery/R?cp110:FLD010:@1(hr659)

NJCardFan
09-14-2010, 09:29 AM
Only 2 Republicans in the Senate voted for it.
Lemmie guess, Olympia Snowe and Arlen Spector or Susan Collins.