Comments on: The Deficit Graph, Edited by Barack Obama http://capitalistcoffee.com/2010/02/01/the-deficit-graph-edited-by-barack-obama/ freedom, finance, faith, caffeine, and my 2 cents. Tue, 02 Feb 2010 13:34:46 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: Sue Denim http://capitalistcoffee.com/2010/02/01/the-deficit-graph-edited-by-barack-obama/comment-page-1/#comment-531 Sue Denim Tue, 02 Feb 2010 13:34:46 +0000 http://capitalistcoffee.com/?p=427#comment-531 And lets not forget the cause of the "housing bubble". While it is complex and multifaceted : a significant part of it was because of CRA required Banks to loan to high-risk/low-income people, Fanny/Freddy snapping up these sub-primes and repackaging them with good loans into Mortgage Backed Securities (which other institutions copied and magnified), Sox and mark-to-market all making sure the next downturn would be a death-plummet. All Democrats pet programs. I don't think the Republicans are close to innocent in all this : but the Democrats were the outright advocates and defenders of everything that went wrong (and resisted all efforts to avoid some of the problems) : then they took zero-responsibility and blamed only the other side instead of helping. Go team! And lets not forget the cause of the “housing bubble”. While it is complex and multifaceted : a significant part of it was because of CRA required Banks to loan to high-risk/low-income people, Fanny/Freddy snapping up these sub-primes and repackaging them with good loans into Mortgage Backed Securities (which other institutions copied and magnified), Sox and mark-to-market all making sure the next downturn would be a death-plummet. All Democrats pet programs. I don’t think the Republicans are close to innocent in all this : but the Democrats were the outright advocates and defenders of everything that went wrong (and resisted all efforts to avoid some of the problems) : then they took zero-responsibility and blamed only the other side instead of helping. Go team!

]]> By: Midas http://capitalistcoffee.com/2010/02/01/the-deficit-graph-edited-by-barack-obama/comment-page-1/#comment-524 Midas Tue, 02 Feb 2010 00:03:08 +0000 http://capitalistcoffee.com/?p=427#comment-524 ... oddly enough, the Dem-controlled Congress was in charge of the 08 and 09 'Bush' budgets as well, were they not? *looks at chart again* … oddly enough, the Dem-controlled Congress was in charge of the 08 and 09 ‘Bush’ budgets as well, were they not? *looks at chart again*

]]> By: Sue Denim http://capitalistcoffee.com/2010/02/01/the-deficit-graph-edited-by-barack-obama/comment-page-1/#comment-523 Sue Denim Mon, 01 Feb 2010 23:59:33 +0000 http://capitalistcoffee.com/?p=427#comment-523 There's a fundamental problem though. That "deficit" by Bush was mostly what? Forced loans to the banks/financial institutions that they had to take. They already paid those back. If you're blue lining it the first year, then you have to stack that as a surplus (they would have come back) the next year. The only reason they haven't, is because Obama wants to spend that too. So much of Bush's "deficit" was short term loans. Most of Obamas are long term spending that is borrowing money not only from today, but long into the future to pay for his pet programs; assuming they stay on budget and don't grow. (Like when has that ever happened)? There’s a fundamental problem though. That “deficit” by Bush was mostly what? Forced loans to the banks/financial institutions that they had to take. They already paid those back. If you’re blue lining it the first year, then you have to stack that as a surplus (they would have come back) the next year. The only reason they haven’t, is because Obama wants to spend that too.

So much of Bush’s “deficit” was short term loans. Most of Obamas are long term spending that is borrowing money not only from today, but long into the future to pay for his pet programs; assuming they stay on budget and don’t grow. (Like when has that ever happened)?

]]> By: Mike http://capitalistcoffee.com/2010/02/01/the-deficit-graph-edited-by-barack-obama/comment-page-1/#comment-522 Mike Mon, 01 Feb 2010 23:58:33 +0000 http://capitalistcoffee.com/?p=427#comment-522 How about the same graph the last 20 years but show who controlled congress. The house controls the money not the president. How about the same graph the last 20 years but show who controlled congress. The house controls the money not the president.

]]> By: DRH http://capitalistcoffee.com/2010/02/01/the-deficit-graph-edited-by-barack-obama/comment-page-1/#comment-521 DRH Mon, 01 Feb 2010 23:08:21 +0000 http://capitalistcoffee.com/?p=427#comment-521 Eh? the 2009 budget was passed by a Democratic-dominated Congress, too. Eh? the 2009 budget was passed by a Democratic-dominated Congress, too.

]]> By: Maggie http://capitalistcoffee.com/2010/02/01/the-deficit-graph-edited-by-barack-obama/comment-page-1/#comment-520 Maggie Mon, 01 Feb 2010 22:40:50 +0000 http://capitalistcoffee.com/?p=427#comment-520 Remember, the 2009 budget wasn't passed until AFTER Obama took office. It was HIS budget passed by a Democratic-dominated Congress. Remember, the 2009 budget wasn’t passed until AFTER Obama took office. It was HIS budget passed by a Democratic-dominated Congress.

]]> By: Patrick Byers http://capitalistcoffee.com/2010/02/01/the-deficit-graph-edited-by-barack-obama/comment-page-1/#comment-519 Patrick Byers Mon, 01 Feb 2010 22:03:03 +0000 http://capitalistcoffee.com/?p=427#comment-519 True that, Dave - makes 2012 look like a real bargain! True that, Dave – makes 2012 look like a real bargain!

]]> By: Stoop Davy Dave http://capitalistcoffee.com/2010/02/01/the-deficit-graph-edited-by-barack-obama/comment-page-1/#comment-518 Stoop Davy Dave Mon, 01 Feb 2010 21:50:54 +0000 http://capitalistcoffee.com/?p=427#comment-518 That can't be right, the blue stripe only appears in that first year. That implies that next year, and the following year, and the one after that, he won't still be complaining about what a deficit-fueling spendthrift Bush was. But we both know he will. That can’t be right, the blue stripe only appears in that first year. That implies that next year, and the following year, and the one after that, he won’t still be complaining about what a deficit-fueling spendthrift Bush was. But we both know he will.

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