The US needs to borrow almost $300 billion this week

Are you possibly claiming Obama was a better president economically than Reagan?

 

Borrowing 300 BILLION inna week and not a peep out of congress

 

Not sure what your point is, when the previous president completely ruined the country what do you expect?

 

Trump's Russian buddies will be good for it.

 

Since I said nothing about spending bills, we can therefore write off your comment as an irrelevant diversion attempt.

But since you brought up spending, you can educate yourself to clear up your RW propaganda misinformation, from these sources, many of them conservative:


The truth is that the nearly 18 percent spike in spending in fiscal 2009 — for which the president is sometimes blamed entirely — was mostly due to appropriations and policies that were already in place when Obama took office. ... Since pictures can convey information more efficiently than words, we’ll sum up the official spending figures in this chart. It also reflects our finding that Obama increased fiscal 2009 spending by at most $203 billion, accounting for well under half the huge increase that year. ... So by our calculations, Obama can fairly be assigned responsibility for — at most — 5.8 percent of the $3.5 trillion that the federal government actually spent in fiscal 2009, which was 17.9 percent higher than fiscal 2008.

http://www.factcheck.org/2012/06/obamas-spending-inferno-or-not/

When Obama took the oath of office, the $789 billion bank bailout had already been approved. Federal spending on unemployment benefits, food stamps and Medicare was already surging to meet the dire unemployment crisis that was well underway. See the CBO’s January 2009 budget outlook.

Obama is not responsible for that increase, though he is responsible (along with the Congress) for about $140 billion in extra spending in the 2009 fiscal year from the stimulus bill, from the expansion of the children’s health-care program and from other appropriations bills passed in the spring of 2009.

http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22?pagenumber=2

Listening to a talk radio program yesterday, the host asserted that Obama tripled the budget deficit in his first year. This assertion is understandable, since the deficit jumped from about $450 billion in 2008 to $1.4 trillion in 2009. As this chart illustrates, with the Bush years in green, it appears as if Obama’s policies have led to an explosion of debt. But there is one rather important detail that makes a big difference. The chart is based on the assumption that the current administration should be blamed for the 2009 fiscal year. While this makes sense to a casual observer, it is largely untrue. The 2009 fiscal year began October 1, 2008, nearly four months before Obama took office. The budget for the entire fiscal year was largely set in place while Bush was in the White House.

http://www.cato.org/blog/dont-blame-obama-bushs-2009-deficit

Having said that, it is impossible to look at the chart and not to see a large ramp up in outlays under George W. Bush — the president who reversed the direction of federal outlays, which had been falling. Indeed, it is perfectly reasonable to argue that much of the responsibility for 2009’s 25.2 percent rests with President Bush, and not with President Obama; in January 2009, before President Obama took office, the CBO released its forecast that fiscal year 2009 would see outlays of 24.9 percent of GDP based on pre-Obama policies.

http://www.forbes.com/sites/realspin/2012/09/03/yep-obamas-a-big-spender-just-like-his-predecessors/

Virtually all of the spending increases when Obama took office were driven by the Great Recession, and very little by any new program Obama signed.

 

GDP was plunging to zero as Obama handed it off:



Employment sucked:



Government workers were doing great! The rest of us, not so much:



You guys loved the Obama Economy, it was what you guys want for America.

Today’s ceremony, however, has very special meaning. Because today we are not merely transferring power from one Administration to another, or from one party to another – but we are transferring power from Washington, D.C. and giving it back to you, the American People.

For too long, a small group in our nation’s Capital has reaped the rewards of government while the people have borne the cost.

Washington flourished – but the people did not share in its wealth.

Politicians prospered – but the jobs left, and the factories closed.

The establishment protected itself, but not the citizens of our country.

Their victories have not been your victories; their triumphs have not been your triumphs; and while they celebrated in our nation’s Capital, there was little to celebrate for struggling families all across our land.

That all changes – starting right here, and right now, because this moment is your moment: it belongs to you.

~Trump's First Inaugural Address

 

Both sides are irresponsible spenders.
Tax the politicians

 

Lets start with zero based budgeting and demand that congress pass annual budgets on time or resign in mass

 

Jailed in mass

 

Only in years when there is a shortage of tar and feathers

 

Cherry picking, as usual. Post GR, it averaged higher under Obama than Bush.

But maybe if the Republicans hadn't forced uncertainty and austerity on us during the GR recovery it would have been a little better.

But that was the plan, right?

Step 1: Obstruct and use control of the House to (*)(*)(*)(*) up the economy. E.g. Create as much uncertainty as possible by threatening to cause the US to shut down the government, default on its obligations, and wreck the economy. Add 700,000+ people to the unemployment lines by eliminating government jobs. Block every single proposal by the President to create jobs. Force austerity cuts in Govt spending to prevent or limit economic growth.


Step 2: Blaaaaame Obaaaaaamaaaaaa and count on the sheeple being ignorant and misinformed or simply blaming whoever is president.

[/QUOTE]

 

Can't deny it, but if we look at the record, spending was much more constrained during the Clinton and Obama presidencies than the last four Republican presidents. Who (except Bush1) also presided over large tax cuts to ensure big deficits and debt.

 

You should love them then.
I dont

 

First Presidents do not control all these matters the more important issue is who controls the Congress. That being said

o Economy that was tanking at a -9% rate and shedding 700,000+ jobs a month turned around
After two years of the Democrats controlling the Congress and failing to a pass measures to mitigate the effects of the recession. But you are correct the number bottomed out the month he moved to the White House and started to quickly recede before any Obama policies.

o a record 83 straight months of private sector employment growth.
The worst employment record in modern history, if just 1 net job was created each of those months you statement would still be true so on it's it shows nothing.

o Initial unemployment claims below 300,000 for a 101 straight weeks, the longest streak since 1970
Well when there are so many already on the unemployment ranks there's not many more to add.

o 150% increase in the stock markets since taking office
So you support policies to make the rich richer?

o More than halved the deficit in 4 years.
The Republican sequester did that, you know the sequester you opposed.

o Initial unemployment claims drop to lowest level since 1973
While the LFPR reaches it's lowest, we already had huge numbers not working hard to add more to it.

o Got Osama bin Laden.
Really? He was there?

o Saved 2-3 million jobs with stimulus package
Unsupported assertions, stimulus was supposed to hold unemployment to justt 8% and then quickly bring it down. It failed miserably with unemployment soaring to 10% and staying over 9% for the next three years along with the fall in LFPR

o First decrease in spending in a year in decades - 3 times.
Thanks to the Republican sequester, none of Obama's budgets ever got out of committee.

o Stock markets up 200% since bottom of the recession in 2009
So you support measures to make the rich richer.

o 16 million additional private sector jobs created since Jan 2010
Worst employment record in modern history

o Oil production increasing for the first time in decades.
In spite of Obama

o Initial unemployment claims drop to 43 year low.
See above

o Ousted Muamar Kadaffi at 1/1000 the cost of the Iraq war
Apples and oranges and look at the disaster that created

o Deficit reduced by a then record $212 billion, down 16%, in 2012.
Deficit increased from $161B to $1,400B in just two years by the Democrats. Lower by the Republican sequester

o Deficit reduced by a new record $408 billion, down 37%, in 2013
Deficit increased from $161B to $1,400B in just two years by the Democrats. Lower by the Republican sequester

o Expanded overtime regulations for working Americans
Making in harder for employees to shift time in order to take of personal matters like attending a daughter's dance recital.

o Record corporate profits
So you support making the rich richer.

o Opened relations with Cuba
And what did it get us?

o Passed health care reform that is providing coverage to tens of millions of Americans
That was a complete shambles and wrecked the system with tens of millions who can't afford their own healthcare anymore.

o 6 straight years of GDP growth
Pitiful GDP especially coming out of a deep recession.

o Unemployment rate dropped from 10% to 4.8%
Unemployment went from 7.5% to 10% and stayed over 9% for the next three years with horrible LFPR. The worst unemployment in modern history.

o U.S. becomes world's top petroleum and energy producer
In spite of Obama

o Passed financial regulation reform to prevent another housing bubble fiasco.
That prevented us from entering a full recovery

o Recovered all jobs lost in the worst recession in 80 years
Lost those jobs to begin with and simply recovering some of them and not keeping up with population growth. Worst unemployment record in modern history

o Lowest rate of spending increases of any president in modern history
After he and his party had the worst spending increases in modern history increasing spending 9% in 2008 and the their whopping 18% in 2009. Taking the last Republican deficit of $161B in 2007 to $1,400B in 2009 just two years later.

o 2015 median income increase strongest on record.
Strongest what, incomes fell under the Democrats, you cherry pick one year?

o Average initial jobless claims drops to levels last seen when Nixon was president.
See above

o Turned the tide against ISIS
After retreated and losing all the gains and then refusing to use the necessary force to wipe them out.

o US domestic oil use decreased
Because no one had the money to buy it.

o Net creation of millions of people employed despite inheriting a economy losing 700,000+ jobs a month
The job loss rate bottomed out the month he took office and started to quickly recede before any Obama policies, The worst unemployment record in modern history.

o Student loan reform passed making college loans available at reasonable rates.
Raising tuition rates.

o Gas prices drop to $2.00/gallon
In spite of him

When you have to throw the race card you know you have lost the debate.

We can only hope we get back to the low unemployment and average LFPR and low manageable deficits like we have when Republicans are in control and more of the 2.9% and higher GDP. You did see that 4th quarter GDP revised UPWARD?

 

Running up huge deficits and debt when you have a good economy.

#MARA

 

Nice spin, but the observant will notice you failed to show even one of my points was false.

 

Great, isn't it?

The sanctimony.

 

Why should I love them?

 

Presidents don't singularly control spending. The fact is Clinton asked for more spending each year than the Congress, both Democrat and Republican but especially the Republicans, authorized. Then when the Democrats including Senator Obama took the Congress in 2007 they increased spending 9% in 2008 and then their whopping 18% in 2009 and then the Congress including the Democrats pronounced Obama's budgets with their spending increase DOA. And this tax rate cuts produced record tax revenue increases that helped produce the surpluses in the late 1990's and then the decline in the deficit under Bush and the Republican Congress to just $161B. What was it two years later under Obama and the Democrats $1,400B.

 

I never claimed presidents singularly control spending. You can go back to sleep now.

 

Bush sucked too. The Obama/Bush era was NOT good for the American Worker. Oh sure, it was great for the government connected types, but the rest of us got screwed.

It's our fault Obama sucked. America really failed him. We were a tremendous disappoint for him as we never properly realized how fortunate we were that he deigned to be President over us.

Anyway, it's best we move forward into the new day.

 

The last Bush/Republican deficit was 2007, then the Democrats took the Congress for 2008 forward and then the Republicans took the House in 2012 and forced sequester.

 

All your points were singularly given to Obama you did not mention the Congress, go back and try again.

 

If you're suggesting that the economic statistics of the Obama years were false, you could try and support that claim with a shred of evidence.

But you just made it up, as we all know.

 

I disagree with your claim re: Obama.

Perhaps you need to remind yourself (assuming you were old enough to be cognizant) of just how peachy things were when Obama came into office:

January 2009

Job loss: Worst in 34 years
Employers slashed 598,000 more jobs in January [2009] as unemployment rate climbed to 7.6%.

NEW YORK (CNNMoney.com) -- Employers slashed another 598,000 jobs off of U.S. payrolls in January, taking the unemployment rate up to 7.6%, according to the latest government reading on the nation's battered labor market.

The latest job loss is the worst since December 1974, and brings job losses to 1.8 million in just the last three months, or half of the 3.6 million jobs that have been lost since the beginning of 2008.
http://money.cnn.com/2009/02/06/news/economy/jobs_january/index.htm

Foreclosures up a record 81% in 2008
January 15, 2009: 3:48 AM ET
NEW YORK (CNNMoney.com) -- U.S. foreclosure filings spiked by more than 81% in 2008, a record, according to a report released Thursday, and they're up 225% compared with 2006.
http://money.cnn.com/2009/01/15/real_estate/millions_in_foreclosure/

Market players were also disappointed by reports that U.S. home prices fell 8.7% year-over-year in November, U.S. housing starts fell 15.5% in December, and weekly initial jobless claims rose 62,000 to 589,000.
http://www.businessweek.com/investor/content/jan2009/pi20090122_192905.htm

On Wednesday, the 30-stock Dow Jones industrial average finished with a loss of 248.42 points, or 2.94%, to 8,200[/B].
http://www.businessweek.com/investor/content/jan2009/pi20090114_103250.htm

598,000 Jobs Shed In Brutal January
Unemployment Hits 7.6% as Downturn Picks Up Steam

The need for progress on those fronts seemed more important than ever yesterday, as the Labor Department announced that conditions worsened more than expected last month. The nation's employers shed 598,000 jobs, the most since 1974, driving the unemployment rate to 7.6 percent from 7.2 percent. If the jobless rate keeps rising at the pace it has for the past two months, it will hit double digits in summer and reach its highest rate since the Great Depression by the fall.
http://www.washingtonpost.com/wp-dyn/content/article/2009/02/06/AR2009020601156.html

GROSS DOMESTIC PRODUCT: FOURTH QUARTER 2008 (PRELIMINARY)
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 6.2 [later revised to 9.2] percent in the fourth quarter of 2008, (that is, from the third quarter to the fourth quarter), according to preliminary estimates released by the Bureau of Economic Analysis.
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp408p.pdf

Continued Unemployment Claims at Record High
In the week ending Jan. 24, the advance figure for seasonally adjusted initial claims was 588,000, an increase of 3,000 from the previous week's revised figure of 585,000.
http://www.calculatedriskblog.com/2009/01/continued-unemployment-claims-at-record.html

Housing Market Update - January 2009
The housing statistics for November 2008 were dire and depressing. They were so bad, in fact, that Lawrence Yun, the National Association of Realtors' chief economist, said November’s price drop was the largest the association had ever recorded and probably the worst decline since the Great Depression.
http://www.forest2market.com/blog/housing-outlook-january-2009#sthash.hHUqWRIV.dpuf

+++

I certainly disagree that the average American working person was worse off in 2016 than they were in 2009. Maybe others find your unsupported claims persuasive.