PDA

View Full Version : 1.75 Trillion $ deficit


Dyl Ulenspiegel
26-02-2009, 14:19:22
Seems to be the target for Obama's first US budget, ie 12% of GDP.

It includes another 750 billion $ financial bailout which only counts with 250 billion $ to the deficit, as they hope to recoup the rest. :lol: So realistically we will see something like 15+ %. :eek:

When I predicted 10% deficits a few years ago, they called me a notorious evil pessimist....

Venom
26-02-2009, 14:27:52
This is what happens when you vote Democrat.

mr_B
26-02-2009, 14:34:23
a black Democrat!!

Dyl Ulenspiegel
26-02-2009, 14:40:20
Originally posted by Venom
This is what happens when you vote Democrat.

:lol:

Oerdin
26-02-2009, 15:13:28
Well, part of it is Obama is actually counting the $140 billion (for 2009) spent on the wars in Iraq and Afghanistan which Bush deliberately kept off the books in order to make the deficit look smaller. Bush's last Budget deficit was $1.2 trillion so it did go up $0.52 trillion mostly because of the stimulus bill.

In other good news Obama is cutting all agricultural subsidies (which are market distorting handouts) for all farms making over $500,000 per year. That should save $8-$9 billion per year and hopefully the EU does the same (fat chance I know but here is hoping). I haven't actually looked over Obama's plan to cut the budget deficit to see if it is realistic or not (such plans usually are not) but it might offer some slim hope for further reductions.

Koshko
27-02-2009, 01:24:52
Really you can freely run as big of a deficit as you damn well please ... up until the fiat monetary system finally collapses under it's own massive weight.

Dyl Ulenspiegel
27-02-2009, 10:10:36
Then you can convert 1000$ to 1 new$.

protein
27-02-2009, 12:03:00
seems like obama was handed an absolute mess.

Funko
27-02-2009, 12:13:55
That's the biggest understatement since Christopher on masterchef said that cooking at La Cote St Jacques was "not like cooking at home".

Provost Harrison
27-02-2009, 12:24:14
Who and where?

Oerdin
27-02-2009, 16:38:07
Maybe someone came from a really fancy home. :cute:

The Mad Monk
27-02-2009, 23:58:34
Yeah, but we're not discussing you.

protein
28-02-2009, 00:22:53
Originally posted by Funko
That's the biggest understatement since Christopher on masterchef said that cooking at La Cote St Jacques was "not like cooking at home".
that almost sounds like a blackadder line. :beer:

Oerdin
28-02-2009, 02:02:23
Originally posted by The Mad Monk
Yeah, but we're not discussing you.

I wasn't talking about me. I was just trying to poke a hole in Funko's statement.

Funko
02-03-2009, 09:31:17
Did you succeed?

Resource Consumer
02-03-2009, 15:24:40
You could try poking a statement.......

mr_B
03-03-2009, 08:39:38
Originally posted by Funko
That's the biggest understatement since Christopher on masterchef said that cooking at La Cote St Jacques was "not like cooking at home". :lol:

notyoueither
04-03-2009, 03:41:44
Originally posted by Dyl Ulenspiegel
Seems to be the target for Obama's first US budget, ie 12% of GDP.

It includes another 750 billion $ financial bailout which only counts with 250 billion $ to the deficit, as they hope to recoup the rest. :lol: So realistically we will see something like 15+ %. :eek:

When I predicted 10% deficits a few years ago, they called me a notorious evil pessimist....

I usually do something like that by the time you say hello.

The Mad Monk
07-03-2009, 10:00:11
You can wait that long?

Dyl Ulenspiegel
07-03-2009, 10:02:53
He's lying. I'd never say hello to him.

notyoueither
07-03-2009, 21:27:15
Feeling the love.

Immortal Wombat
07-03-2009, 23:13:32
hello