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The opinion of the right will be posted/discussed here on a daily basis. If you wish to participate in a respectful manner, feel free to do so. If you cannot be respectful of everyone here, please do not stop here.
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Posts:
31,300
Registered:
9/5/01
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(2572 of 5872)
Re: Opinion of The Right.
Oct 8, 2009 10:56 AM
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> At least you are consistant... you seem to avoid the
> truth at every opportunity.
Are you saying Beck tells the truth? Hmmmmm!
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Posts:
10,173
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7/2/07
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(2571 of 5872)
Re: Opinion of The Right.
Oct 8, 2009 6:33 AM
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Obamanomics at work yet one more time.
CBO: Budget Deficit Hit Record $1.4T in 2009
Wednesday, October 7, 2009 6:25 PM
Article Font Size
WASHINGTON ? The federal budget deficit tripled to a record $1.4 trillion for the 2009 fiscal year that ended last week, congressional analysts said Wednesday.
The Congressional Budget Office estimate, while expected, is bad news for the White House and its allies in Congress as they press ahead with health care overhaul legislation that could cost $900 billion over the next decade.
The unprecedented flood of red ink flows from several factors, including a big drop in tax revenues due to the recession, $245 billion in emergency spending on the Wall Street bailout and the takeover of mortgage giants Fannie Mae and Freddie Mac. Then there is almost $200 billion in costs from President Barack Obama's economic stimulus bill, as well as increases in programs such as unemployment benefits and food stamps.
The previous record deficit was $459 billion and was set just last year.
The Obama health plan would be "paid for" with new revenues and curbs in spending. But the overhaul effort would eat up tax increases and spending cuts that could be used to bring the deficit down.
(of course, never miss a chance to blame Bush *rolls eyes*)
Obama has attributed the nation's dismal fiscal situation to the financial and economic crises he inherited. White House Budget Director Peter Orzsag is overseeing the administration's efforts to tackle the soaring deficit next year.
"As part of the fiscal 2011 budget, we will be putting forward proposals that return us to a fiscally sustainable path and that have lower deficits in the out-years," Orszag said in a recent Associated Press interview.
The huge deficits have raised worries about the willingness of foreigners to keep purchasing Treasury debt. The administration promises that once the recession is over and the financial system is stabilized, it will move forcefully to get the deficits under control.
Economists worry that the deficits could place upward pressure on interest rates in future years as the government has to offer higher rates to attract investors
Republicans pounced on the bad news.
"This new CBO data makes it clear that our children and grandchildren will end up buried under a mountain of debt if we continue taxing, spending and borrowing at these dangerous levels," House Minority Leader John Boehner, R-Ohio, said. "How many alarm bells have to be set off before Washington Democrats get serious about tackling dangerous budget deficits?"
Economists say the best measure of the deficit is to compare it with the size of the economy. On those terms, the 2009 deficit reached almost 10 percent of gross domestic product, a level not witnessed since World War II.
The White House says it wants deficits in the next few years to stabilize at or below 3 percent of GDP. But by the White House's own estimates released in August ? which predicted deficits averaging about 4 percent through the rest of the decade ? it would take several hundreds of billions of dollars in new taxes or spending curbs to just get the deficit down to 3 percent of GDP.
Those steps would easily exceed the efforts under way now to pay for Obama's health care plan. For example, bringing the 2014 deficit back in line with Obama's goals would require about $240 billion in deficit-closing steps in that year alone ? near the amount of revenue that would flow from the expiration of former President George W. Bush's tax cuts.
Such steps would almost certainly force Obama to break his promise to limit tax increases to the wealthy.
Other budget experts predict higher deficits that would require even more painful steps.
History has not been kind recently to presidents who tackle the deficit. President George H.W. Bush lost re-election in 1992 after violating his "no new taxes" promise. His successor, Bill Clinton, lost control of Congress in 1994 after pushing through a deficit-reduction plan laden with tax hikes.
Still, Democrats controlling Congress acknowledge they have no choice but to tackle the problem ? even if they inherited it from George W. Bush.
"It should be remembered that fiscal year 2009 began during the Bush administration, which left in its wake the worst recession since the 1930s, including a sharp plunge in revenues," said Rep. John Spratt Jr., D-S.C., chairman of the House Budget Committee. "But today's figures send us the latest alarm. As the economy stabilizes and starts to recover, we will have to turn our focus back to deficit reduction."
© 2009 Associated Press
Source:
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Posts:
10,173
Registered:
7/2/07
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(2570 of 5872)
Re: Opinion of The Right.
Oct 8, 2009 6:25 AM
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> J,
>
> There's a reason why I choose, "opinion of the
> right," to talk about this. OK, I'm done.
You are welcome here any time you choose.
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Posts:
2,938
Registered:
6/8/09
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(2569 of 5872)
Re: Opinion of The Right.
Oct 8, 2009 6:00 AM
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At least you are consistant... you seem to avoid the truth at every opportunity.
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Posts:
31,300
Registered:
9/5/01
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(2568 of 5872)
Re: Opinion of The Right.
Oct 7, 2009 11:49 PM
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> > > > I'm happy for you. 
> > >
> > > Admit it, you're watching this special
> comment
> > too.
> > > How do you feel?
> >
> ronnie:
> > I don't watch him.
>
> I thought you listened to all sides? Afraid you'd
> learn something?
I never cared for Olberman. Beck either.
I still get all sides without them.
Does that help, Sunshine?
> We can't have that can we?
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Posts:
2,938
Registered:
6/8/09
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(2567 of 5872)
Re: Opinion of The Right.
Oct 7, 2009 9:38 PM
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> > > I'm happy for you.
> >
> > Admit it, you're watching this special comment
> too.
> > How do you feel?
>
ronnie:
> I don't watch him.
I thought you listened to all sides? Afraid you'd learn something?
We can't have that can we?
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Posts:
13,507
Registered:
2/5/06
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(2566 of 5872)
Re: Opinion of The Right.
Oct 7, 2009 8:59 PM
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> I don't watch him.
Ronnie, this isn't about trashing the right. Seriously, it's what I'd expected from Mr. Olbermann. It's really not bad from the conservative POV. I should know.
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Posts:
31,300
Registered:
9/5/01
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(2565 of 5872)
Re: Opinion of The Right.
Oct 7, 2009 8:56 PM
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> > I'm happy for you.
>
> Admit it, you're watching this special comment too.
> How do you feel?
I don't watch him.
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Posts:
13,507
Registered:
2/5/06
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(2564 of 5872)
Re: Opinion of The Right.
Oct 7, 2009 8:56 PM
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J,
There's a reason why I choose, "opinion of the right," to talk about this. OK, I'm done.
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Posts:
13,507
Registered:
2/5/06
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(2563 of 5872)
Re: Opinion of The Right.
Oct 7, 2009 8:55 PM
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How can we not be united against death. -Keith Olbermann
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Posts:
13,507
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2/5/06
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(2562 of 5872)
Re: Opinion of The Right.
Oct 7, 2009 8:54 PM
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> I'll have to find it out for myself, I am not
> listening to the royal oaf.
Take a listen. There's a very little human side of this issue.
This isn't partisan; it's an American problem.
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Posts:
10,173
Registered:
7/2/07
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(2561 of 5872)
Re: Opinion of The Right.
Oct 7, 2009 8:51 PM
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> > info you are mistaken, I hate the guy's guts.
> > Keith Olbermann=Pond Scum
>
> J,
>
> But he is talking about something we all have to go
> through as we get old and perish.
I'll have to find it out for myself, I am not listening to the royal oaf.
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Posts:
13,507
Registered:
2/5/06
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(2560 of 5872)
Re: Opinion of The Right.
Oct 7, 2009 8:48 PM
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> info you are mistaken, I hate the guy's guts.
> Keith Olbermann=Pond Scum
J,
But he is talking about something we all have to go through as we get old and perish.
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Posts:
10,173
Registered:
7/2/07
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(2559 of 5872)
Re: Opinion of The Right.
Oct 7, 2009 8:43 PM
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> > > J,
> > >
> > > There's really no right or left on this
> > particular
> > > issue. Admit it, you dig what he has to
> say.
> >
> > Who?
>
> Mr. Keith Olbermann
info you are mistaken, I hate the guy's guts.
Keith Olbermann=Pond Scum
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Posts:
13,507
Registered:
2/5/06
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(2558 of 5872)
Re: Opinion of The Right.
Oct 7, 2009 8:41 PM
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> > J,
> >
> > There's really no right or left on this
> particular
> > issue. Admit it, you dig what he has to say.
>
> Who?
Mr. Keith Olbermann
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