The Mudcat Café TM
Thread #115883   Message #3165812
Posted By: Sawzaw
06-Jun-11 - 03:18 AM
Thread Name: BS: Popular Views: the Obama Administration
Subject: RE: BS: Popular Views: the Obama Administration
Bobert's Reality 101: "reality is that Obama inherited 90% of it"

If $4 trillion is 10% of the national deficit then it would have been $12.6T when he came into office.

Hmmmmm Georgie poo ran it up $4T in eight years and Obama ran it up by $4T in 2 years.

"the surpluses he [GWB] inherited"

The vaunted CBO "surplus" report never mentions the national deficit or national debt or off budget spending, it only shows the debt held by the public and on budget spending.

There never was a surplus. The national debt increased every year as per facts, not stats, on Obama appointed Mr Geithner's website:

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

The slowest increase in the national deficit was in 2000. Clinton claimed a $230B surplus, but Clinton borrowed
$152.3B from Social Security [remember when I asked folks if they knew where the money in their SS account is?]
$30.9B from Civil Service Retirement Fund
$18.5B from Federal Supplementary Medical insurance Trust Fund
$15.0B from Federal Hospital Insurance Trust Fund
$9.0B from the Federal Unemployment Trust Fund
$8.2B from Military Retirement Fund
$3.8B from Transportation Trust Funds
$1.8B from Employee Life Insurance & Retirement fund
$7.0B from others

Total borrowed from off budget funds $246.5B, meaning that his $230B surplus is actually a $16.5B deficit. The deficit went up that year just like it has every year since 1952.

If there is ever a true surplus, then the national debt will go down which hasn't happened since 1952.

A big factor in the slowing of the increase in the deficit under Clinton was the huge increase in tax revenues from capitol gains taxes on the Dot Com bubble. Then it burst in Clinton's last year.

So just keep on beating your head against that wall and after a while if won't hurt any more.